Rosy Ruma

A quiet yet significant financial shift is unfolding across Sri Lanka. As inflation pressures persist and the rupee continues to weaken, more citizens — from tech-savvy youth to small business owners — are increasingly turning to cryptocurrencies as an alternative store of value outside the traditional banking system.

📊 According to research published in the South Asian Journal of Finance, over 320,000 Sri Lankans currently own some form of digital currency. Global data firm Datawallet projects this figure could climb to 1.16 million users by 2026, highlighting the rapid pace of adoption.

💡 For many participants, crypto is no longer viewed purely as a speculative asset. Instead, it is increasingly seen as a hedge against inflation and long-term currency depreciation.

🗣️ “Young professionals and small investors are quietly experimenting with crypto to preserve value,” said a Colombo-based financial analyst. “Much of this activity is happening outside formal markets, but it’s steadily expanding.”

🌐 Most transactions occur through offshore exchanges or peer-to-peer platforms, as Sri Lanka has yet to approve or license domestic crypto service providers. This places much of the activity in a regulatory grey zone, beyond direct oversight by authorities.

⚠️ The Central Bank of Sri Lanka (CBSL) has repeatedly cautioned the public about virtual assets. Governor Nandalal Weerasinghe recently reiterated that only the Sri Lankan rupee holds legal tender status, stressing that crypto investments carry significant risk despite not being outright banned.

📜 To enhance monitoring, the CBSL has proposed amendments to the Financial Transactions Reporting Act (FTRA). These changes would require Virtual Asset Service Providers (VASPs) to register with the Financial Intelligence Unit (FIU) and comply with AML/CFT regulations, similar to banks.

📈 Meanwhile, global crypto markets continue to surge. Bitcoin, the world’s largest cryptocurrency, is trading near US$109,000, marking a sharp rise since late 2024. Some analysts believe prices could approach US$150,000 before the end of 2025, driven by institutional demand and regulatory clarity abroad.

🔐 Despite this momentum, Sri Lankan investors remain exposed. Without legal recognition at home, losses from hacks or failed overseas platforms offer little legal protection. “If assets disappear, recovery options are extremely limited,” warned a financial law expert.

🔮 As economic uncertainty lingers, crypto’s growing appeal reflects a deeper desire for financial independence. Whether Sri Lanka chooses regulation or continued caution may determine if this movement becomes a structured financial evolution — or a high-risk experiment.
@Binance Sri Lanka

THANKYOU 🙏

#VitalikSells Recent blockchain data shows that Vitalik Buterin sold a small portion of his Ethereum holdings in early February. As soon as this crypto news surfaced, reactions spread rapidly across social media.

As usual, fear came first.

Many posts framed the move as a bearish signal. Some claimed it pointed to deeper problems inside Ethereum. However, this is far from the first time such headlines have appeared. In past cases, panic spread quickly—while facts followed later.

📉 Buterin’s Recent ETH Sale Grabs Attention

According to the latest crypto news, Vitalik Buterin sold 211.84 ETH on February 2, converting it into roughly $500,000 in USDC. Over the next eight hours, additional transactions followed. In total, around 493 ETH, valued near $1.16 million, was moved into stablecoins.

Before these sales, another transaction raised eyebrows. About 5,000 ETH, worth nearly $12 million, was wrapped into WETH using CoW Protocol—a platform often chosen for large trades to reduce price impact.

Once traders noticed these transfers, speculation intensified. Some suggested Buterin was preparing a major sell-off. Others labeled it a “dump.”

But context matters.

Ethereum trades billions of dollars daily. Compared to that scale, a one-to-two-million-dollar transaction is small. It does not control market direction or determine long-term trends.

Crypto news history also shows that Buterin has sold ETH many times before, usually to fund donations, research, or public initiatives. This pattern has been visible for years.

There is no public evidence suggesting the recent sales were meant to harm the market. In fact, the use of low-impact trading tools points to careful execution—not panic.

🏛️ Ethereum Foundation Sales: A Familiar Pattern

Buterin is not alone. The Ethereum Foundation has also sold ETH regularly to support development and operational costs.

Crypto news from 2025 shows the foundation sold around 10,000 ETH, worth over $40 million at the time. In earlier years, it sold ETH in both large and small batches. In 2024 alone, nearly $94 million worth of ETH was transferred to exchanges like Kraken.

Each time, the reaction followed the same script:

• Initial fear

• Social media negativity

• Crash predictions

Yet in most cases, prices stabilized shortly after.

Studies tracking these sales show Ethereum often recovers within days or weeks. Temporary dips happen—but lasting damage is rare. That’s because ETH prices are driven by much larger forces: global liquidity, macro conditions, network usage, and investor confidence.

Foundation sales are typically planned, not reactive. They fund developers, security audits, and long-term ecosystem growth—not emergency exits.

🧠 Crypto News and Trader Psychology

Buterin’s recent ETH sale fits a familiar pattern. A known wallet moves funds. Traders react emotionally. Fear spreads. Then the market zooms out.

So far, nothing in this crypto news suggests a loss of confidence in Ethereum. There is no sign of hidden exits, manipulation, or wrongdoing.

What it looks like instead is routine fund management during a weak market phase—something Ethereum has weathered many times before.

Washington și New Delhi ar trebui să salute acordul—dar politica internațională nu se desfășoară pe praf de zâne.
După șase luni de tensiune și provocări, Statele Unite și India au anunțat în sfârșit un acord comercial inițial în această săptămână. Momentul este notabil: a venit la câteva zile după ce India și Uniunea Europeană au încheiat un pact comercial cuprinzător care era în lucru de mai bine de un deceniu.

Această contrastă contează—pentru două motive cheie.

🔹 În primul rând, acordul UE este un adevărat acord comercial. Versiunea Washingtonului, consistentă cu negocierile sub președinția lui Donald Trump, este mai bine descrisă ca un „contract” comercial—flexibil, condus politic și predispus la revizuire. Statele Unite nu au încheiat un adevărat acord comercial bilateral sau plurilateral de ani de zile, așa că entuziasmul ar trebui să fie temperăt de realism.

Solana ($SOL ) is trading near $97 after a sharp sell-off dragged the token below the key $100 level. While the broader crypto market has been under pressure, Solana has taken a harder hit due to fresh security concerns that have shaken investor confidence.

Over the past few weeks, SOL has fallen from the $140–$145 range, erasing most of its late-2025 recovery. For many investors, this type of decline is driven more by fear, forced selling, and uncertainty than by any sudden breakdown in Solana’s core technology.

⚠️ Step Finance Hack Triggers Security Fears
A major catalyst behind the sell-off was a security breach at Step Finance, where roughly $30 million worth of SOL was moved from treasury wallets. Around 261,854 SOL was transferred rapidly, raising concerns that the incident may have involved internal access, not just an automated exploit.
Although Step Finance stated that user funds were not affected, the event still rattled the Solana DeFi ecosystem. Large treasury wallets are becoming prime targets, highlighting the need for stronger safeguards, including multi-signature approvals and tighter access controls.
In stressed market conditions, headlines often matter more than details—and security scares tend to accelerate selling pressure.

🌱 Jupiter Update Adds a Long-Term Bright Spot
Not all developments are negative. Jupiter recently launched explore.ag, a new analytics tool that combines data from Solscan and DeFiLlama into a single dashboard. The platform improves transparency by making it easier to track projects, transactions, and DeFi metrics across Solana.
While this may not impact prices immediately, such infrastructure upgrades signal that the Solana ecosystem continues to evolve, even during downturns—often a positive sign for developers and long-term participants.

📉 Solana Technical Outlook: Can $100 Be Reclaimed?
From a technical perspective, SOL remains in a short-term downtrend, trading within a descending channel that began in late 2025. Once price broke below the 100-day and 200-day EMAs near $140, it quickly slipped through $119 and $111, suggesting forced liquidation rather than healthy profit-taking.

Key levels to watch:
🔴 Resistance: $105–$111 (former support turned selling zone)
🟢 Support: $90–$81 (prior demand area)
⚠️ Deeper risk: A drop toward $70 if broader weakness continues
The RSI is in the mid-20s, indicating oversold conditions. While this can trigger short-term bounces, it does not guarantee an immediate trend reversal.
For a stronger recovery signal, SOL would need to hold above $100, form a higher low, and close above $111 on the daily chart. That could open the door to a move toward $120–$130.

🔍 Final Take
Solana appears to be going through a painful but familiar reset phase. Security concerns have amplified selling pressure, yet ecosystem development continues in the background. If volatility cools and confidence stabilizes, this phase could eventually set the stage for more sustainable gains—but patience will be key.

Crypto markets are bleeding—and Strategy is back in the spotlight.
After Bitcoin slipped below the company’s average acquisition price, speculation is growing over whether the world’s largest corporate BTC holder could ever be forced to sell.

📉 Bitcoin Dips, Questions Rise
Strategy, the firm that pioneered the bitcoin treasury playbook, is facing renewed scrutiny after a sharp weekend sell-off wiped billions from the crypto market. On some exchanges, BTC briefly fell below $76,000, dipping under the average price paid by the company led by longtime bitcoin advocate Michael Saylor.
At the time of writing, Bitcoin had rebounded above $78,000, but the damage was done—social media erupted with one question: Could Strategy finally sell?

🧠 What Has Saylor Said?

Saylor has repeatedly insisted that Strategy would never sell its bitcoin. However, company executives have previously acknowledged that selling BTC could be considered under extreme financial pressure.
In a November interview, Strategy CEO Phong Le stated that a sale might occur if:
The company struggles to raise capital through equity or debt, and
Strategy’s market value falls below the value of its bitcoin holdings
So far, those conditions remain far from reality.

🏦 Liquidity Over Liquidation
To avoid ever selling BTC, Strategy has focused on strengthening its balance sheet. Last year, the company boosted its “green dot” liquidity reserves to over $2 billion, ensuring it can meet obligations without touching its bitcoin stash.
📌 Analysts note that the real risk isn’t the sale itself—but the psychological impact such a move could have on institutional confidence in bitcoin as a long-term safe-haven asset.

🔮 What Markets Are Betting
Despite the noise, prediction markets remain calm. Odds suggest just a 5% chance that Strategy sells any bitcoin before March 2026.
As of now, Strategy remains the largest corporate bitcoin holder in the world, controlling an estimated 712,647 BTC, with its most recent disclosed purchase made on January 26.

✨ For now, Strategy’s diamond hands remain unbroken—but in a volatile market, every dip tests conviction.

Cu patru zile înainte de învestirea lui Donald Trump în 2025, a fost încheiat un acord criptografic tăcut, dar exploziv—unul care a legat familia unui președinte american care vine de o puternică regalitate străină.
Cu doar câteva zile înainte ca Donald Trump să se întoarcă la Casa Albă, reprezentanți legați de influentul „șef de spion” din Abu Dhabi au semnat un acord de 500 de milioane de dolari pentru a achiziționa o participație de 49% în World Liberty Financial, o inițiativă criptomonedă legată de familia Trump.

📄 Conform documentelor companiei și persoanelor familiarizate cu problema, acordul a necesitat jumătate din plată în avans, direcționând 187 de milioane de dolari direct către entitățile legate de familia Trump. Acordul a fost semnat de Eric Trump, fiul președintelui—ridicând noi îngrijorări cu privire la influența străină și la conflictele de interese.

Sentimentul de pe piața crypto rămâne prudent, investitorii arătând reținere în loc să urmărească rally-uri pe termen scurt. Participarea devine selectivă, iar atenția se îndreaptă de la reveniri rapide către proiecte care oferă o structură mai clară, mecanisme de aprovizionare transparente și participare verificabilă. Această schimbare este evidentă în traiectoriile contrastante ale Pi Coin, XRP și ZKP.

În timp ce Pi Coin și XRP continuă să se confrunte cu presiuni structurale, ZKP câștigă vizibilitate dintr-un motiv diferit — concentrarea sa pe infrastructură. Central în această abordare este o alocare de 17 milioane de dolari pentru Proof Pods, unități hardware concepute pentru a conecta calculul din lumea reală cu verificarea pe lanț.

Washington: Melania Trump își marchează primul an înapoi ca primă doamnă cu lansarea mondială a unui documentar care oferă o privire rară din culise asupra zilelor care au dus la întoarcerea lui Donald Trump la Casa Albă.

Intitulat „Melania”, filmul de aproape două ore va avea premiera joi la Centrul Kennedy, unde se așteaptă ca Trumps să participe la evenimentul pe covorul roșu. Documentarul va fi lansat în cinematografe la nivel global vineri, după o proiecție privată la Casa Albă, în weekendul trecut.

Prima doamnă a spus că ideea pentru film a apărut după alegerile prezidențiale din 2024 și își propune să surprindă perioada de tranziție de 20 de zile înainte de învestirea președintelui cu numărul 47. Vorbind înainte de deschiderea Bursei de Valori din New York, miercuri, ea a descris proiectul ca fiind o privire fără precedent asupra acelui moment din istorie — spusă din perspectiva unei prime doamne care urmează să vină.

În timp ce Avalanche (AVAX) se străduiește să mențină suportul cheie și Ethereum (ETH) își revine datorită creșterii activității în rețea, Zero Knowledge Proof (ZKP) se mișcă pe o traiectorie complet diferită. În loc să urmărească momentum-ul prețului, acesta construiește în liniște infrastructura de bază — iar această distincție începe să conteze.

În prezent, AVAX reacționează, ETH se recuperează, dar ZKP este construit în timp real. Acest contrast transformă modul în care investitorii evaluează riscul, câștigul și poziționarea pe termen lung în piața crypto.

De Ziua Republicii a 77-a a Indiei, Președintele SUA a lăudat parteneriatul durabil între cele două democrații

Pe măsură ce India a marcat cea de-a 77-a Zi a Republicii luni, Președintele SUA Donald Trump a transmis salutări calde națiunii, subliniind relația profund înrădăcinată între India și Statele Unite, pe care a descris-o ca fiind o legătură istorică între cele mai vechi și cele mai mari democrații din lume.

Într-un mesaj de Ziua Republicii distribuit de Ambasada SUA în India pe X, Trump a felicitat guvernul indian și poporul său, recunoscând piatra de temelie constituțională care a transformat India în cea mai mare democrație din lume în 1950.

Global backlash against Grok continues to intensify
Elon Musk’s social media platform X is facing a fresh investigation from the European Union, following allegations that its AI chatbot Grok generated and circulated sexual deepfake images — including content that may qualify as child sexual abuse material.

The European Commission confirmed that the probe will assess whether X adequately identified and reduced risks linked to Grok’s deployment across the 27-member EU bloc. The investigation could invite renewed criticism from Washington, particularly amid rising tensions over Europe’s digital regulations.

🛑 Strong Warning From EU Officials
“Non-consensual sexual deepfakes targeting women and children are a violent and unacceptable form of abuse,” said Henna Virkkunen, the EU’s technology commissioner. She emphasised that the case falls under the Digital Services Act (DSA) — the EU’s strict framework aimed at curbing illegal and harmful online content.

📌 Growing Global Concern
In recent weeks, regulators and child protection groups worldwide have raised alarms after users in several countries accused Grok of producing sexualised imagery and reposting it on X.

🇬🇧 The UK’s media regulator Ofcom has launched a formal inquiry under the Online Safety Act.

🇫🇷 France and 🇮🇳 India have also criticised the chatbot, alleging it created explicit images without consent.

🤖 X Responds
X, which operates under Musk’s AI company xAI, reiterated that it removes illegal material, suspends offending accounts, and cooperates with law enforcement when required.

“We are committed to keeping X safe for everyone,” the company said, adding it has zero tolerance for child exploitation, non-consensual nudity, or unwanted sexual content.

💶 EU Fines Loom Large
The latest probe comes shortly after X was hit with a €120 million ($142 million) penalty under the DSA. Regulators concluded that the platform misled users through its paid blue-tick system, restricted researcher access to data, and failed to properly manage advertising transparency.

Under the DSA, online platforms can face penalties of up to 6% of their global annual revenue for violations involving illegal content, disinformation, or transparency failures.

🗣️ US Pushback
Ahead of the December fine, US Vice President JD Vance criticised the EU’s actions, arguing on X that Europe should protect free speech instead of targeting American tech firms.

Crăpături proaspete în cadrul establishment-ului politic din SUA au apărut după ce înregistrări audio scurse au dezvăluit că senatorul Ted Cruz l-a criticat aspru pe președintele Donald Trump și pe vicepreședintele JD Vance în legătură cu politica comercială — și a susținut că au jucat un rol în blocarea unui potențial acord comercial India-SUA.

Conform unui raport Axios, înregistrările de aproape 10 minute datează din începutul și mijlocul anului 2025 și îl surprind pe republicanul texan vorbind deschis cu donatori privați. În conversații, Cruz se descrie ca un republican tradițional pro-comerț liber și ridiculizează deschis abordarea economică bazată pe tarife a lui Trump.

Crypto investment funds suffered their largest weekly outflows since November 2025, with a staggering $1.73 billion exiting the market, signaling a sharp return of risk-off sentiment among investors.

According to the latest CoinShares report, the sell-off was led by Bitcoin, which saw $1.09 billion in outflows, followed closely by Ethereum with $630 million withdrawn. The United States accounted for the bulk of the exits, contributing nearly $1.8 billion to the total figure.

📊 The scale of withdrawals suggests investors are still struggling to regain confidence amid macro uncertainty and weakening crypto narratives.

While most major assets faced selling pressure, a few pockets of strength emerged. Solana recorded $17.1 million in inflows, while Binance-linked products and Chainlink attracted modest gains of $4.6 million and $3.8 million, respectively — indicating selective positioning rather than broad optimism.

🧠 CoinShares head of research James Butterfill pointed to three key forces driving the exodus:

1️⃣ Fading expectations of US rate cuts, with markets pricing just a 2.8% chance of near-term easing

2️⃣ Persistent negative price momentum, keeping trend-based strategies sidelined

3️⃣ Crypto’s failure to reclaim its role as a hedge against currency debasement

Despite rising government debt and fiscal pressure globally, digital assets have yet to convincingly benefit from the debasement narrative — prompting investors to reassess near-term exposure.

📌 Taken together, the data shows a market still searching for a catalyst. Until macro conditions shift or price momentum stabilizes, crypto funds may remain under pressure, with investors choosing caution over conviction.

In a disclosure that sent shockwaves across both traditional finance and crypto markets, Japanese investment firm Metaplanet has projected a massive $700 million impairment loss on its Bitcoin holdings for 2025.

The announcement comes alongside reports of strong operational performance, creating a striking contrast between business growth and crypto-driven accounting losses. According to provisional financial statements, the Bitcoin-related write-down could push the company into a comprehensive net loss approaching half a billion dollars, overshadowing otherwise solid revenue and profit figures.

This moment highlights the harsh reality of corporate crypto exposure: strong operations do not protect companies from the financial volatility embedded in digital asset accounting.

📉 Metaplanet Bitcoin Loss: Understanding the $700M Impairment
An impairment loss occurs when the market value of an asset permanently falls below its book value on a company’s balance sheet. In Metaplanet’s case, the recorded value of its Bitcoin treasury now exceeds its fair market value, forcing the company to recognize a large non-cash accounting charge.

⚠️ Important to note:
No physical cash leaves the company
The loss exists on paper
But the impact on earnings, equity, and investor perception is very real

This accounting adjustment must be recorded in the company’s income statement, directly weakening reported financial performance — even if operational cash flows remain healthy.

The situation exposes the structural risk of using Bitcoin as a corporate treasury asset. Unlike fiat currencies or government bonds, Bitcoin’s valuation is highly volatile, forcing companies to navigate complex accounting frameworks like IFRS and GAAP. Paper gains can quickly reverse into major reported losses during market downturns.

🧾 The Corporate Bitcoin Accounting Dilemma
Metaplanet’s disclosure reveals a deep contradiction in corporate crypto adoption.

📊 On one side:
Revenue: ~$58 million
Operating profit: ~$40 million
Core business performance: Above expectations

📉 On the other:
Bitcoin impairment: $700 million
Resulting net financial picture: Heavy loss
This disconnect creates confusion for investors. The company’s business operations appear healthy, but its financial statements tell a very different story — dominated by crypto valuation losses rather than business fundamentals.

🧠 Expert View: High-Risk Treasury Strategy
Financial analysts describe Metaplanet’s approach as high-risk, high-reward treasury management.
“This is the double-edged sword of corporate Bitcoin adoption. Firms like Metaplanet, MicroStrategy, and Tesla are betting on Bitcoin’s long-term value. But accounting rules force them to mark assets to market, creating massive earnings volatility unrelated to business performance.”

📉 This volatility affects:

Stock prices
Credit ratings
Investor confidence
Market perception

—even when a company’s cash flow and operations remain strong.

Metaplanet’s Bitcoin accumulation began during earlier market cycles, likely at higher price levels. As the crypto market entered a corrective phase in 2024–2025, asset values declined. Under accounting rules, if the decline is considered “other than temporary,” an impairment becomes mandatory.

The projected $491 million comprehensive net loss reflects just how large Bitcoin exposure has become relative to Metaplanet’s overall business.

🌍 Corporate Comparison: Not Just Metaplanet
Metaplanet’s case mirrors a global corporate trend:
Company Country BTC Holdings Impairment Impact Standard
Metaplanet Japan Significant $700M (projected) IFRS / Japanese GAAP
MicroStrategy USA 200,000+ BTC Regular impairments US GAAP
Tesla USA ~9,720 BTC $170M+ impairment (2022) US GAAP

🔍 The lesson is clear:
All corporations holding Bitcoin face systemic accounting risk. The difference lies in scale — and how large crypto exposure is relative to total business size.

🌐 Broader Impact on Finance & Crypto
This event goes beyond one company.

Key implications:
📌 Regulators may revisit crypto accounting rules
📌 Corporations may adopt more conservative crypto strategies
📌 Treasury diversification models may change
📌 Investor risk models will evolve
📌 Disclosure standards may tighten

Market watchers are now tracking:
📉 Stock market reaction
🔁 Strategy changes
🏛 Regulatory responses in Japan
📢 Management communication to investors

🧾 Conclusion
The projected $700 million Metaplanet Bitcoin impairment loss marks a defining moment in corporate crypto adoption.
It proves that:
✔️ Crypto exposure can distort financial statements
✔️ Accounting volatility can overpower business success
✔️ Non-cash losses still reshape market perception
✔️ Treasury strategy ≠ operational performance
✔️ Innovation must coexist with conservative accounting discipline

While Bitcoin remains a long-term strategic asset for many firms, Metaplanet’s case shows that financial reporting reality can be brutal, even when business fundamentals are strong.

As more corporations explore digital assets, this story becomes a powerful lesson in risk management, transparency, and financial governance — where innovation meets accounting discipline in the real world.

The US Securities and Exchange Commission (SEC) has agreed to drop its enforcement action against Gemini, the cryptocurrency exchange founded by billionaire twins Tyler and Cameron Winklevoss, after investors in the now-defunct Gemini Earn program recovered their crypto assets in full.

🔑 Key Highlights

✔️ SEC closed the case after Gemini Earn users were fully repaid

✔️ Repayments were completed via the Genesis bankruptcy process

✔️ Investors received a 100% in-kind return of their crypto assets

In a joint filing submitted Friday to a federal court in Manhattan, the SEC and Gemini Space Station confirmed that all assets owed to Gemini Earn users were successfully returned through the Genesis Global Capital bankruptcy proceedings.

📄 Court documents show repayments were finalized between May and June 2024.

⚖️ Why the SEC Dropped the Case
According to the regulator, the decision was based on the complete in-kind repayment of customer assets—meaning investors received the same cryptocurrencies they originally deposited, not cash substitutes.

Given this outcome, the SEC concluded that continuing the enforcement action was no longer justified.

The case dates back to January 2023, when the SEC accused Gemini Trust Company and Genesis Global Capital of offering unregistered securities through the Gemini Earn program.

Under the program, users lent their crypto to Genesis in exchange for yield, with Gemini operating as the intermediary platform.

📊 At its peak, Gemini Earn held nearly $940 million in customer assets.

Withdrawals were frozen in November 2022, following severe market disruptions triggered by the collapse of several major crypto firms. Genesis later filed for bankruptcy, setting off months of negotiations among creditors, regulators, and industry players.

Unlike many crypto failures from that period, Genesis ultimately returned customer assets instead of liquidating them, a factor that played a decisive role in the SEC’s move to dismiss the case.

🚀 Broader Policy Shift & Gemini’s Growth
The dismissal comes as the SEC’s stance on digital assets appears to be softening under US President Donald Trump, whose administration has signaled a more crypto-friendly regulatory approach.
While closing the Gemini case, the SEC clarified that the decision does not reflect its position on other crypto enforcement actions and was based solely on the specific facts involved.

Meanwhile, Gemini has continued to strengthen its institutional presence. The exchange made a high-profile Nasdaq debut last year, signaling renewed investor confidence in regulated crypto platforms.

📈 According to LSEG data, Gemini is currently valued at approximately $1.14 billion.