The multi-year collaboration aims to scale molecular data storage infrastructure and unlock breakthrough cost efficiencies by 2030.

PISCATAWAY, N.J. and LOS ANGELES, April 9, 2026 /PRNewswire/ — GenScript Biotech Corporation, the world’s leading provider of CMOS-based DNA synthesis technologies, and Mimulus Corp, the pioneer in Molecular Archive Technology™, today announced a strategic collaboration to industrialize DNA-based data storage, a technology poised to transform how the world preserves data in the age of Artificial Intelligence.

As the AI-driven surge in global data creation accelerates exponentially, existing archival storage systems built on magnetic tape and hard drives are reaching their economic and environmental limits. The strategic partnership between GenScript and Mimulus aims to address this challenge by architecting the world’s first molecular archival storage that requires no electricity to preserve data once encoded into DNA and can store massive volumes of information for centuries.

Under the agreement, GenScript will industrialize high‑throughput DNA synthesis at scale, targeting a leap from millions to billions of oligonucleotides synthesized in parallel on a single chip. Building on its highly-validated manufacturing platform, currently capable of synthesizing 8 million oligonucleotides in parallel on a single chip, GenScript will deliver the scale, reproducibility, and validation required to make emerging applications like molecular data storage commercially viable. While the DNA technology landscape remains fragmented across writing, reading, and storage, GenScript brings capabilities across key parts of the DNA data storage value chain, including synthesis, sequencing-related technologies, and platform development. Combined with Mimulus’ proprietary Molecular Archive Technology™, this capability enables molecular data storage to transition from laboratory innovation to commercially scalable infrastructure.

“When a new category emerges, the winners are built on infrastructure,” said Sherry Shao, Rotating CEO of GenScript Biotech Corporation. “At GenScript, we believe in Scripting Possibilities – turning what was once theoretical into scalable reality. DNA-based data storage will only become a viable real-world infrastructure when synthesis can be delivered at extraordinary throughput, quality, and cost. We are building that industrial foundation to transform molecular storage from being ‘scientific promise’ into ‘global reality’.”

Mimulus Glacier Data Storage Card is replacing decaying magnetic infrastructure. By combining GenScript’s proven industrial-scale synthesis engine with Mimulus’s molecular transcoding architecture, this credit-card-sized device creates a completely off-stack and off-grid physical vault. The collaboration seeks to dramatically accelerate the cost curve of DNA-based storage and unlock economically viable archival systems for global cloud and AI workloads.

“Trying to solve a pressing 21st-century AI data problem with mid-century magnetic tape is a bit like trying to launch a rocket with a steam engine,” said Todd R. Nelson, Ph.D., Founder and Chairman of Mimulus Corp. “But this isn’t just about building a better storage device; it’s about liquidating an operational liability to fuel the AI revolution. By combining our proprietary architecture with GenScript’s unparalleled manufacturing scale, we are printing power permits. We are handing hyperscalers the exact megawatts they need to turn on their AI supercomputers today, unlocking a trillion-dollar flywheel that reshapes the economics of the cloud.”

About GenScript Biotech Corporation

Founded in 2002 in New Jersey, GenScript Biotech Corporation accelerates innovation in biotech and healthcare by providing researchers and companies with the building blocks needed to develop ground breaking treatments and products. As a cornerstone of the global life science ecosystem, GenScript actively collaborates with a diverse network of partners—from academic institutions to industry leaders—to co-create cutting-edge solutions that redefine service excellence. Guided by its mission to Make People and Nature Healthier Through Biotechnology, GenScript has become a trusted global partner with a team of 6,100+ employees, supporting over 200,000 customers across 100+ countries and regions, including the world’s Top 20 pharma companies. For more information: www.genscript.com

About Mimulus Corp

Mimulus Corp is a venture-backed biotechnology company architecting the world’s first economically sustainable and physically permanent archival infrastructure for the age of AI. By combining the scaling laws of the semiconductor industry with the density of synthetic biology, Mimulus solves the global archival storage crisis and liberates critical grid power for AI compute. Led by a team of serial entrepreneurs with over $7 billion in capital formation experience, Mimulus is making the future molecular. For more information: www.mimulus.co

Media Contacts:

For GenScript: Melis Inceer, Head of Integrated Communications & Content, melis.inceer@genscript.com

For Mimulus Corp: Colette Patnaude, Founder, press@mimulus.co

Partnership brings adaptive AI upskilling to Georgia’s top-ranked economic development community, targeting the region’s advanced manufacturing and industrial workforce

NEWPORT BEACH, Calif. and LAGRANGE, Ga., April 9, 2026 /PRNewswire/ — MindHYVE.ai™, Inc. and the Development Authority of LaGrange have signed a Strategic Collaboration Framework (SCF) to deploy AI-powered adaptive learning across LaGrange’s workforce ecosystem. The partnership will introduce ArthurAI™, MindHYVE’s agentic vocational learning platform, to address upskilling demands in one of the Southeast’s largest manufacturing and industrial corridors.

MindHYVE.ai™ and the Development Authority of LaGrange announce a Strategic Collaboration Framework to deploy AI-powered adaptive workforce training across Georgia’s largest business park ecosystem.

LaGrange currently ranks as the top economic development community in Georgia, and sixth nationally for micropolitans, according to Site Selection Magazine. The region’s Georgia International Business Park (GIBP), the largest in the Southeast and fourth largest in the country, is home to more than 41 international companies across 18 countries, anchored by multiple Fortune 500 companies, including Kia and its supplier network. With a regional workforce of approximately 250,000 and over 50,000 manufacturing jobs, employers have identified a growing gap between effective training and upskilling programs and the basic technical skills required by employers in the region.

Under the framework, MindHYVE.ai™ will work with the Development Authority to deploy ArthurAI™ across employer-driven training programs, beginning with multiple pilot cohorts in the region’s advanced manufacturing and automotive supplier networks. The collaboration includes:

• ArthurAI™ Vocational Learning Edition (VLE) — adaptive upskilling aligned to employer-identified competencies; adjusts to each worker’s learning pace, background, and role in real time, whether they’re a first-time floor operator or a seasoned technician learning a new system
• ArthurAI™ Corporate Learning Edition (CLE) — AI-fluency training for supervisors, management, and corporate teams, delivered in partnership with the California Institute of Artificial Intelligence (CIAI)
• The Dawn Directive™ — the California Institute of Artificial Intelligence’s (CIAI) AI literacy and fluency program, powered by MindHYVE.ai™; a 4-month, 18-course, 360-hour AI fluency certification designed for regulated industries and the industrial workforce

Making ArthurAI™ Cost-Neutral for Georgia Employers

A critical accelerator in the LaGrange deployment is Georgia’s robust workforce funding ecosystem. ArthurAI™ training programs are designed to qualify for stacked funding through WIOA Title I (Workforce Innovation and Opportunity Act), the Georgia Work Ready credential framework, federal manufacturing training grants administered through the Department of Labor, and Economic Development partnership opportunities through the Technical College System of Georgia. For participating employers, this funding architecture has the potential to make ArthurAI™ deployment significantly more accessible. The Development Authority of LaGrange will serve as the funding coordination gateway for GIBP employers entering the program.

Initial deployment will focus on parallel pilot programs with local advanced manufacturing and automotive suppliers, comparing adaptive AI-driven training against traditional methods across metrics including completion time, competency retention, and employer satisfaction. The partnership also establishes a pathway for phased expansion across LaGrange’s diversified industrial base, with the Development Authority serving as the deployment gateway for ArthurAI™ across GIBP’s full 100+ company ecosystem.

“Workforce development has to meet people where they are, not where a standard curriculum assumes they should be,” said Bill Faruki, Founder and CEO of MindHYVE.ai™. “ArthurAI™ adapts to each learner’s background and pace, whether they’re a first-time manufacturing worker or a seasoned operator learning a new system. LaGrange’s employer base and economic development leadership make it an ideal environment to demonstrate what that looks like at scale.”

“I built ArthurAI™ on one non-negotiable principle: AI should make workers more valuable, not more vulnerable,” Faruki added. “We don’t deploy technology that displaces people — we deploy technology that makes them indispensable. If it doesn’t grow employment, we don’t ship it. LaGrange will be the proof point.”

“The Development Authority of LaGrange is committed to ensuring our workforce keeps pace with the industries that drive our economy,” said Scott Malone, President of the Development Authority of LaGrange. “This collaboration gives us a new tool to deliver training that’s faster, more personalized, and directly aligned to what our employers need.”

“We are a community built for industry, powered by talent and proven by results. We are excited to be positioned to continue leading the State of Georgia in deployment of new training technologies in ethical AI,” said Kelley Bush, Director of Workforce Development and Existing Industry for the Development Authority of LaGrange.

About the Development Authority of LaGrange

The Development Authority of LaGrange drives economic growth and business investment in LaGrange, Georgia and Troup County. Home to the Georgia International Business Park — the largest in the Southeast — LaGrange supports over 100 manufacturers, 41 international companies across 18 countries, and a regional workforce of approximately 250,000. The Authority provides strategic oversight, site selection, workforce training coordination, and business expansion support, and ranks as the #1 economic development community in Georgia and sixth nationally for micropolitans (Site Selection Magazine).

About the California Institute of Artificial Intelligence (CIAI)

The California Institute of Artificial Intelligence is the credentialing body behind the Dawn Directive™ — a 4-month, 18-course, 360-hour AI fluency certification framework designed to produce AI-fluent professionals across regulated industries including manufacturing, healthcare, finance, and law. The Dawn Directive™ is powered by MindHYVE.ai™’s ArthurAI™ platform and is deployed across institutional and employer partnerships in the United States and internationally.

About MindHYVE.ai™

Founded by Bill Faruki, MindHYVE.ai™ engineers domain-specific agentic AI systems for education, healthcare, law, finance, and governance. Its technology stack is powered by Eve-Fusion™, a proprietary multi-model consensus reasoning engine, and deployed on Eve-Grid™, MindHYVE’s enterprise-grade Azure-native cloud infrastructure. The company’s flagship platforms include ArthurAI™ for adaptive learning and ChironAI™ for clinical decision support, with deployments spanning North America, Asia, and Africa. MindHYVE does not use client data for model training; all training relies exclusively on synthetically generated data through Eve-Genesis™, its proprietary reasoning training framework. MindHYVE.ai™ is committed to the principle that AI adoption should grow employment, not diminish it.

For more information:
Website: www.mindhyve.ai  |  Email: hello@mindhyve.io  |  Phone: +1 (949) 200-8668

Partnership & Investment Inquiries:
James Barry  |  james.barry@mindhyve.io

Media Contact:
Marc Ortiz  |  marc.ortiz@mindhyve.io

Strategic go-public transaction aims to accelerate growth in quantum technologies and expand global market reach

ST. GALLEN, Switzerland and INCLINE VILLAGE, Nev. , April 9, 2026 /PRNewswire/ — Terra Quantum AG (“Terra Quantum”), a leading quantum technology company, and Mountain Lake Acquisition Corp. II (“MLAC II”) (Nasdaq: MLAA), a special purpose acquisition company, today announced that they have signed a non-binding letter of intent (“LOI”) to enter into a business combination that values Terra Quantum at $3.25 billion.

Terra_Quantum

The proposed transaction reflects strong confidence in Terra Quantum’s differentiated quantum algorithms, software, quantum security, and hybrid quantum-classical solutions, as well as its commercial traction across multiple industries including defence, finance, pharmaceuticals, and logistics.

Upon completion of the transaction, the combined entity will be publicly listed, providing Terra Quantum with enhanced access to capital markets to support its next phase of growth, including product development, global expansion, and strategic acquisitions.

Strategic Rationale

The contemplated business combination is expected to enable Terra Quantum to:

• Accelerate the commercialization of ready to deploy quantum technologies
• Strengthen its balance sheet to support scaling operations globally
• Expand partnerships with enterprise and government customers
• Enhance visibility in the quantum computing sector

Management Commentary

“This milestone marks a significant step forward in Terra Quantum’s mission to deliver practical quantum solutions on a global scale today,” said Markus Pflitsch, Chairman & Chief Executive Officer of Terra Quantum AG. “Partnering with MLAC II would enable us to accelerate innovation, deepen customer engagement, and expand our global footprint.”

Paul Grinberg, Chairman and Chief Executive Officer of MLAC II, added: “We believe Terra Quantum is uniquely positioned at the forefront of the quantum revolution which also has a management team with distinguished backgrounds in both science and the commercialisation of technology. This proposed transaction aligns with our strategy to partner with high-growth, category-defining technology companies that can create significant value.”

Advisors

Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, is serving as exclusive financial and capital markets advisor to Terra Quantum. Heussen Rechtsanwaltsgesellschaft mbH, together with Kellerhals Carrard, Winston & Strawn, LLP, and Niedermann Rechtsanwälte, are serving as legal counsel to Terra Quantum.

BTIG is serving as financial and capital markets advisor to MLAC II. Lowenstein Sandler LLP and Lenz & Staehelin are serving as legal counsel to MLAC II.

About Terra Quantum AG

Terra Quantum AG is a leading quantum technology company focused on developing cutting-edge quantum algorithms, software, and hybrid solutions designed to solve real-world problems. Headquartered in St. Gallen, the company partners with enterprises and institutions worldwide to unlock the power of quantum computing today.

About Mountain Lake Acquisition Corp. II

Mountain Lake Acquisition Corp. II (Nasdaq: MLAA) is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses focused on partnering with innovative, high-growth companies across technology sectors. MLAC II’s management team is led by Paul Grinberg, its Chairman & CEO, and Douglas Horlick, its Chief Financial Officer, Director, and President.

Media Contacts

Terra Quantum AG
Victoria Jodl
Global Head of Communications | Director
E-Mail: vj@terraquantum.swiss
Phone: +41 79 8131588

MLAC II
Douglas Horlick
Email: doug@mountainlakeacquisition.com

DISCLAIMERS

Additional Information and Where to Find It

If a definitive agreement is entered into in connection with the proposed business combination, MLAA or a newly formed holding company will prepare and file a registration statement on Form S-4 or Form F-4, including a preliminary proxy statement/prospectus (the “Proxy Statement”) with the U.S. Securities and Exchange Commission (the “SEC”). MLAA urges investors and securityholders to read the proxy statement/prospectus and other documents filed with the SEC when they become available, as they will contain important information regarding the proposed business combination. The Proxy Statement will be distributed to holders of MLAA’s Class A Ordinary Shares in connection with MLAA’s solicitation of proxies for the vote by MLAA’s shareholders with respect to the proposed business combination and other matters as will described therein. All SEC filings will be available free of charge at www.sec.go, v, or by directing a request to: Mountain Lake Acquisition Corp. II, 930 Tahoe Blvd STE 802 PMB 45, Incline Village, NV 89451; phone number: +1 (775) 204-1489.

Participants in the Solicitation

MLAC II and Terra Quantum  and each of their directors and executive officers may be considered participants in the solicitation of proxies with respect to the proposed transaction under the rules of the SEC. Information about the directors and executive officers of MLAC II and a description of their interests in MLAC II and the proposed transaction is contained in MLAC II’s Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on March 20, 2026 (the “Annual Report”).

Information about MLAC II’s directors and executive officer’s interests in the proposed transaction, as well as information about Terra Quantum’s directors and executive officers and a description of their interests in Terra Quantum and the proposed transaction will be set forth in the Proxy Statement relating to the proposed transaction when it is filed with the SEC. When available, the above referenced documents can be obtained free of charge from the sources indicated above.

Forward-Looking Statements

This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed business combination between MLAC II and Terra Quantum, including statements regarding the benefits of the proposed business combination, the anticipated timing of the proposed business combination, the products being developed by Terra Quantum and the markets in which Terra Quantum intends to operate, business strategies, debt levels, industry environment, potential growth opportunities and the effects of regulations. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “positions,” “enables” and similar expressions (including the negative versions of such words or expressions). 

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the proposed business combination may not be completed in a timely manner or at all, which may adversely affect the price of MLAC II’s securities; (ii) the risk that the proposed business combination may not be completed by MLAC II’s business combination deadline and the potential failure to obtain an extension of the business combination deadline; (iii) the failure to satisfy the conditions to the consummation of the proposed business combination, including the approval of the proposed business combination by the shareholders of MLAC II or Terra Quantum, and the receipt of certain governmental and regulatory approvals; (iv) the effect of the announcement or pendency of the proposed business combination on Terra Quantum’s business relationships, performance and business generally; (v) risks that the proposed business combination disrupts current plans of Terra Quantum; (vi) the outcome of any legal proceedings that may be instituted against MLAC II, Terra Quantum or related to the agreement and plan of merger or the proposed business combination; (vii) the ability to maintain the listing of MLAC II’s securities on NASDAQ; (viii) the price of MLAC II’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which Terra Quantum plans to operate, variations in performance across competitors, changes in laws and regulations affecting Terra Quantum’s business and changes in the combined capital structure; (ix) the ability to implement business plans, forecasts and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities; and (xi) the impact global economic and political conditions, including the Russia-Ukraine conflict. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in MLAC II’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and MLAC II and Terra Quantum assume no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Neither MLAC II nor Terra Quantum gives any assurance that either MLAC II or Terra Quantum will achieve its expectations.

No Offer or Solicitation

This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Terra Quantum, MLAC II or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1934, as amended.

Cautionary Note Regarding the Proposed Transaction

Completion of the proposed transaction is subject to the negotiation of a definitive agreement and the satisfaction of conditions contained therein. The parties will announce additional details regarding the proposed business combination if and when a definitive agreement is executed. Accordingly, there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated or, if a transaction is consummated, as to its terms, structure or timing. Any transaction would be subject to the completion of satisfactory due diligence, negotiation of definitive agreements, board and shareholder approvals, regulatory approvals, and other customary conditions.

AMSTERDAM, April 9, 2026 /PRNewswire/ — Atradius forecasts a further rise in insolvencies in 2026, as adverse conditions continue to weigh on companies, affecting operating margins across multiple sectors. The latest Atradius Insolvency Outlook shows that worldwide insolvencies are expected to increase by 3% in 2026.

According to Atradius Senior Economist Theo Smid, “Our insolvency forecast has deteriorated due to the persistence of adverse economic conditions, including Covid‑related tax debts, rising input costs and ongoing trade tensions. The crisis in the Middle East, together with the associated increase in energy prices, adds to existing pressures. The impact on businesses will depend largely on the length of the conflict.”

Atradius’ baseline scenario assumes that the current closure of the Strait of Hormuz will begin to normalise from May, with only limited damage to Gulf infrastructure. If the disruption lasts longer, the insolvency projections would need to be revised.

Looking further ahead, the outlook improves in 2027, when insolvencies are projected to decline by 6% as inflation recedes, energy markets normalise and central banks regain room to reduce rates.

Regional outlook

In Europe, Atradius expects the highest rise in Switzerland, Italy and Portugal, while Ireland, Denmark, Norway and the Netherlands are set for decreases. Across the eurozone, companies continue to operate under substantial pressure in 2026. Higher energy prices, driven by disruptions in gas markets linked to the conflict in the Middle East, are feeding through to broader inflation and weighing on margins.

North America remains divided. In the United States, insolvencies are forecast to rise by 8% in 2026. The economic climate remains challenging for companies, with high trade tariffs and increased policy uncertainty continuing to weigh on the operating environment. In contrast, Canada is expected to see a decline in insolvencies as filings continue to normalise following the sharp rise in 2024.

In Asia‑Pacific, most monitored markets are set for decreases as insolvencies begin to retreat from historically high levels. New Zealand and Hong Kong show the strongest downward adjustments, while Australia, Japan and South Korea are likely to normalise more slowly.

For more detailed forecasts by country and region, access the full Atradius Insolvency Outlook.

Atradius

More information at https://group.atradius.com.

Press contact
Pavel Gómez del Castillo
pavel.gomezdelcastillo@atradius.com

ROCKVILLE, Md., April 9, 2026 /PRNewswire/ — OncoC4 Inc., a late clinical stage biopharmaceutical company, today announced first participant’s dosing following the clearance of the Investigational New Drug (IND) application for a Phase 1/2 clinical trial of ONC-841, the company’s investigational Alzheimer’s disease therapy by the National Medical Product Administration (NMPA). The clinical trial registration number is CTR20260866.

ONC-841 is the world’s first and only clinical stage anti-SIGLEC 10 antibody. The drug was initially developed, and is in a Phase 2 trial, for patients with solid tumors. New preclinical research by OncoC4 has revealed ONC-841’s novel activity in normalizing microglia’s function in clearance of pathogenic protein aggregates in the brain (1, 2). Benefitting from safety data from the oncology study, the new Phase 1/2 AD clinical trial received accelerated clearance to test the safety and clinical activity of the product for AD treatment.

The first study participant was successfully dosed at Xuanwu Hospital of Capital Medical University in China. The Principal Investigators for the clinical study are Professor Yi Tang and Professor Cuibai Wei at the Xuanwu Hospital.

“Extending our clinical study from cancer to AD showcases OncoC4’s research engine and Xuanwu Hospital’s infrastructure as the world’s eminent AD research center. We are extremely grateful to our colleagues at Xuanwu for the collaboration, ” said Dr. Yang Liu, CEO and Chief Scientific Officer. 

“We are extremely excited to collaborate with OncoC4 to explore the potential of targeting SIGLEC 10, the novel checkpoints of AD pathogenesis, to bring clinical benefit for patients with this devastating illness”, added Professor Yi Tang, Executive Vice President and Principal investigator. 

About OncoC4

Based in Rockville, Maryland, OncoC4 is a privately held, late clinical-stage biopharmaceutical company that is actively engaged in the discovery and development of novel biologicals for the treatment of cancer and immunological diseases. OncoC4’s pipeline features assets with first-in-class and best-in-class potential targeting both novel and well validated targets across oncology and immunological diseases. Among them, AI-081 is a fully owned bispecific antibody candidate targeting PD-1 and VEGF. ONC-841 is a first-in-class anti-SIGLEC 10 antibody currently in a Phase 2 trial for oncology indications and a Phase 1 trial for neurodegenerative diseases. OncoC4 has a strategic collaboration with BioNTech to co-develop gotistobart (BNT316/ONC-392), a tumor microenvironment-selective Treg depletion candidate targeting CTLA-4, in multiple solid tumor indications, including an ongoing pivotal clinical trial in squamous non-small cell lung cancer.

More information: www.oncoc4.com. 

CONTACTS

Media Relations
Pan Pan
media@oncoc4.com

Investor Relations
Ryan Cui
ir@oncoc4.com

1. Wang P, et al. Therapeutic activities of anti-human SIGLEC 10 mAb in multiple transgenic mouse AD models. Alzheimer’s Dement. 2025, 21 (Suppl. 5): e101818.
2. Wang P, et al. Mice carrying unmutated human SIGLEC 10 gene cluster transgene develop both amyloid plaques and Tau neurofilament tangles: a model for late onset Alzheimer’s disease. Alzheimer’s Dement. 2025, 21 (Suppl. 5): e101773.

APIA, Samoa, April 9, 2026 /PRNewswire/ — Phemex, a user-first crypto exchange, reported that crude oil perpetual futures volume on its TradFi platform surged over 300% week-over-week, as the US-Iran ceasefire announcement triggered the largest single-day oil price swing since the 1991 Gulf War.

Phemex TradFi offers WTI (XTI) and Brent crude oil (XBR) perpetual futures settled in USDT, available 24/7 with no expiry dates, enabling traders to react to geopolitical events regardless of traditional market hours. Weekly crude oil trading volume on Phemex TradFi exceeded $300 million, with the asset’s share of total TradFi volume quadrupling from approximately 3% to 12% during the crisis week. On April 7, daily crude oil volume hit an all-time high of $85 million — a 4.6x spike — as WTI plunged over 15% within hours of the ceasefire news. More than 8,000 unique traders participated in oil contracts over the past week, with single-day active users surpassing 2,000 for the first time.

“Crude oil has gone from a niche offering to one of our fastest-growing asset classes virtually overnight,” said Federico Variola, CEO of Phemex. “When WTI dropped $12 after hours on the ceasefire announcement, traditional commodity exchanges were closed. Our traders didn’t have to wait, they were already positioned and capturing the move in real time.”

As cross-asset volatility becomes increasingly driven by real-time geopolitical developments, the demand for continuous market access is expected to grow. Phemex TradFi’s recent surge in crude oil trading highlights a broader shift toward always-on trading infrastructure, where traditional assets are accessed through crypto-native systems. Phemex will continue expanding its TradFi offering, enabling traders to respond to global events with greater speed, flexibility, and precision across asset classes.

About Phemex

Founded in 2019, Phemex is a user-first crypto exchange trusted by over 10 million traders worldwide. The platform offers spot and derivatives trading, copy trading, and wealth management products designed to prioritize user experience, transparency, and innovation. With a forward-thinking approach and a commitment to user empowerment, Phemex delivers reliable tools, inclusive access, and evolving opportunities for traders at every level to grow and succeed.

For more information, please visit: https://phemex.com/