DeFi Technologies, maker of ETPs that track DeFi protocols, faces a class action alleging it concealed delays in its DeFi arbitrage strategy, understated competition from other digital asset treasury (DAT) firms and the resulting revenue harm, making 2025 guidance unlikely. On Nov. 6, 2025 it disclosed DATs had “absorbed or delayed” arbitrage opportunities; the stock fell >7%. On Nov. 14, 2025 Q3 revenue declined ~20%, 2025 guidance was cut from $218.6M to ~$116.6M citing delayed DeFi Alpha arbitrage, and CEO Olivier Roussy Newton shifted to an advisory role; the stock fell >27%.