new era for DeFi or ‘a sad day for DAOs’?

Uniswap Founder Proposes Activation of Long-Awaited UNI Fee-Switch

Hayden Adams, the founder of Uniswap, yesterday announced his proposal to activate the long-awaited UNI fee-switch on the decentralized finance (DeFi) sector’s leading exchange. Widely expected to pass this time, the move would mark a significant milestone for DeFi — but not everyone is convinced.

### The Proposal

The proposal would see a portion of fees, which currently go to liquidity providers (LPs), redirected to the buy-and-burn of UNI tokens. For most pools, this would amount to one-sixth of the total fees, with some of the lower tiers contributing up to 25%.

As part of the initiative, 100 million UNI tokens will be burned to represent the amount that “would have been burned if fees were on from the beginning.” Additionally, sequencer fees from Unichain will also be directed towards the UNI burn. Other features under consideration include earning fees on external pools and capturing Miner Extractable Value (MEV) on the protocol.

Notably, the wildly unpopular front-end fees — which have generated almost $180 million for Uniswap Labs to date — will be abolished under this proposal.

*Read more: [Uniswap’s new trading fee neglects UNI holders]*

### Overcoming Past Challenges

Despite multiple fruitless attempts in the past, the UNI fee-switch has yet to be implemented. Legal concerns have often been cited as reasons for delay. Adams refers to this as “a hostile regulatory environment that cost thousands of hours and tens of millions in legal fees.”

However, the Trump Administration’s more permissive regulatory landscape may have helped ease earlier worries. Coming this time directly from founder Hayden Adams — who speaks as if the proposal is a done deal — it seems likely that the changes will be enacted following 22 days of governance proceedings.

*Read more: [To fee or not to fee? That is the question — does Uniswap have an answer?]*

### A New Era for DeFi

Adams states that the “proposal comes as DeFi reaches an inflection point.” Alongside the shift in regulatory approach, he praises decentralized platforms’ “performance and scale,” the mainstream adoption of tokens, and increasing institutional interest as key tailwinds pushing the sector forward.

Uniswap remains DeFi’s dominant decentralized exchange, with approximately $5 billion of total value locked (TVL) and over $100 billion in trading volume in the past 30 days. During that period, it generated $109 million in fees — which, at a minimum, would translate to around $18 million worth of UNI tokens burned, approximately 0.3% of its $5.7 billion market cap.

Estimates using annualized revenue put the figure closer to $38 million monthly revenue, placing the scale of this initiative alongside similar buyback and burn programs like those for PUMP and HYPE tokens.

The idea has garnered popularity within the DeFi community, with $30 billion liquid staking giant Lido also considering similar buybacks. This “anti-cyclical” mechanism would increase buybacks during bull markets and tighten spending during tougher times.

*Read more: [Uniswap Labs launches Unichain without UNI unanimity]*

### Criticism and Concerns

Competitors warn that the reduction in swap fees going to liquidity providers may lead to an exodus of liquidity, potentially worsening trade execution and opening up opportunities for rival exchanges.

More broadly, supporters feel the move signals a new era of confidence for DeFi. Bankless’ Ryan Sean Adams summarized the moment as Uniswap “[keeping] a promise” and “inject[ing] a little belief back into our jaded souls.”

*Read more: [TradFi tactics win on Uniswap v3 says BIS study]*

### “A Sad Day for DAOs”?

Adams’ proposal has not escaped criticism. While many celebrate a long-awaited milestone, others have expressed concerns about what the move means for decentralized governance as a whole.

Worries over the influence of large UNI stakeholders such as a16z and Binance have fueled accusations of “decentralization theater.” Critics are frustrated by what they see as a further transfer of power to Uniswap Labs, whose actions are not governed by token holders.

Under the proposal, foundation teams would transition to a legal entity structure under Labs — a shift described by some as an admission that “DAOs are inefficient at governing and allocating resources.”

In response, Adams states there is an “explicit commitment from Labs ensuring Labs does not pursue strategies that conflict with token holder interests.” He also insists that Uniswap’s “vision has always been to minimize the need [for Labs’ intervention] by relying on automation and protocol decentralization.”

Others speculate that Uniswap never intended to have a token in the first place, only launching UNI in response to 2020 competitor SushiSwap. The fee-switch proposal “basically reverts this; buyback and burn is the mostly simple, boring way to do so.”

*Read more: [Is Uniswap becoming more TradFi than DeFi?]*

The activation of the UNI fee-switch could represent a pivotal moment for Uniswap and the broader DeFi ecosystem, balancing innovation with governance challenges as the sector matures.
https://bitcoinethereumnews.com/tech/new-era-for-defi-or-a-sad-day-for-daos/

MSNBC Panelists Rage At Democrats For Getting ‘Nothing In Return’ After Shutting Government Down

MSNBC panelists criticized Democrats on Sunday for appearing to cave to President Donald Trump as they prepared to reopen the government without securing extensions for Affordable Care Act (ACA) subsidies.

Eight Democratic senators broke ranks with Senate Minority Leader Chuck Schumer by supporting the Republican-led continuing resolution (CR) in a procedural vote. This CR would reopen and fund the government until January 30.

On “The Weekend: Primetime,” panelists expressed frustration that Democrats, despite shutting down the government for the longest period in U.S. history, are not receiving Obamacare subsidy extensions in return.

“For 40 days, you shut the government down and now you’re going to open the government up and what did you get in return? Nothing? Nothing?” MSNBC columnist Dean Obeidallah said. “After the pain you inflicted — people were willing to take the pain. I talked to union workers from TSA who said, ‘I’ll take the pain, it’s going to help me get health insurance subsidies paid.’ So you’re getting nothing in return. I don’t know how, and you just won an election on Tuesday, and you lose numbers.”

The panelists also found it unclear why several Democrats flipped their position after maintaining a firm stance over healthcare demands during the shutdown.

Democratic Virginia Senator Tim Kaine voted in favor of reopening the government just five days after the party’s significant victory in Virginia’s gubernatorial race.

The bipartisan compromise would reverse layoffs affecting 4,000 federal workers and schedule a vote on ACA subsidy extensions in December.

Co-host Antonia Hylton suggested that Trump ultimately emerged victorious, rendering the 40-day shutdown meaningless.

“In a way, it seems like the president is kind of getting what he wanted 40 days ago when all this started,” Hylton said. “He was out there saying that, ‘oh, this is all about Democrats trying to give health care to illegal immigrants.’ He just said that to reporters moments ago, repeating that refrain that Democrats had actually very successfully pushed back against.”

“There’s all this energy in the wake of Tuesday’s election. The president made remarks basically acknowledging he was on his back foot, saying Republicans are being harmed by all of this. And now, here he is, winning again?” she added.

Trump and Republicans have argued that Democrats supported the shutdown because they wanted to provide government-run healthcare to illegal immigrants. Data shows Medicaid spending for illegal immigrants nearly tripled under the Biden administration, coinciding with record-high illegal border crossings surpassing 2 million and 3 million encounters in a single fiscal year.

Additionally, the cost of Medicaid for illegal immigrants’ emergency care rose 142% in fiscal year 2024.

Obeidallah expressed confusion over Democratic senators’ decisions to cave. “I don’t understand how a Democratic senator goes, ‘Wow, we won really big. Let me cave now.’ That makes no sense to me.”

Notably, none of the Democrats who voted to reopen the government—including Illinois Senator Dick Durbin and New Hampshire Senator Jeanne Shaheen—are facing reelection in the 2026 midterms.
https://dailycaller.com/2025/11/10/msnbc-panelists-democrats-govt-down-obamacare/

Analysts See Trump’s $2,000 Dividend as the Most Bullish Liquidity Event — Plan Could Inject $3 Trillion into Crypto

**Trump Proposes $2,000 Tariff Dividend for Most Americans: Potential Impact on Crypto Markets**

The Trump administration is floating a new policy that would redistribute tariff revenues collected by the U.S. government directly to American citizens. If implemented as planned, these payments—set at a minimum of $2,000—could see a portion funneled into cryptocurrency investments, according to financial commentator Sumit Kapoor.

**Trump Announces $2,000 Dividend Plan**

Donald J. Trump recently announced a plan to distribute a dividend of at least $2,000 to most Americans, with higher-income individuals excluded from eligibility. The announcement came alongside a robust defense of his economic policies, especially his use of tariffs as a central pillar of U.S. trade strategy.

Trump’s “distribution to the people” concept isn’t entirely new. He first mentioned the idea during an October interview with One America News Network, suggesting payments between $1,000 and $2,000. At that time, he noted the proposal hinged on resolving the ongoing government shutdown, which as of today, has extended into its 40th day.

**Trump Defends Tariff Policy on Social Media**

On his Truth Social account, Trump vehemently defended his tariff policy, stating that those who oppose it are “FOOLS.” He declared that the U.S. has become the “Richest, Most Respected Country in the World,” highlighting “Almost No Inflation” and a “Record Stock Market Price.” Trump also pointed to the growth of Americans’ retirement savings, reporting 401(k) values at their “Highest EVER.”

He further argued that tariff revenues are enabling the U.S. to take in “Trillions of Dollars” and maintain a strong economic posture, claiming these gains would help pay down the nation’s “ENORMOUS DEBT, $37 Trillion.” He cited “Record Investment in the USA,” including new plants and factories, as proof of his economic success.

**A Liquidity Wave for Crypto?**

The potential economic ramifications of Trump’s dividend proposal have sparked swift analysis, particularly within the cryptocurrency community. Sumit Kapoor noted on X that, if enacted, the dividend could serve as a “bullish liquidity event for crypto.” Kapoor drew comparisons to the 2020-2021 stimulus checks, which coincided with a massive rally in digital assets. During that period, $1,400 stimulus payments aligned with Bitcoin’s climb from around $30,000 to more than $65,000, as retail traders invested excess cash in cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and various altcoins.

Kapoor estimates that if even 20% of the proposed dividend capital found its way into the crypto market, it could inject approximately $125 billion in fresh liquidity. Given the crypto sector’s sensitivity to new capital inflows, Kapoor suggests this could boost the total market capitalization of digital assets by $2.5 to $3 trillion.

Currently, the total cryptocurrency market capitalization stands at $3.59 trillion, with Bitcoin representing 59% market dominance and Ethereum about 12%.

**Tariff Revenues Reach Record Highs**

According to U.S. Treasury Department data, the federal government collected roughly $195 billion in tariff duties during the first three quarters of this year. However, much of this financial burden has ultimately been shouldered by American consumers, as the average effective tariff rate climbed to 18% by mid-October—the highest since 1934.

**Related Congressional Proposal: The American Worker Rebate Act**

In a related development, Senator Josh Hawley (R-Mo.) introduced the American Worker Rebate Act of 2025 (S. 2475) on July 28. This legislation seeks to distribute rebate checks to American workers and families, funded by tariff revenues. The proposal calls for payments of at least $600 per adult and dependent child, meaning a family of four could receive a minimum of $2,400.

*Recommended for you:*
https://bitcoinethereumnews.com/crypto/analysts-see-trumps-2000-dividend-as-the-most-bullish-liquidity-event-plan-could-inject-3-trillion-into-crypto/

Greek-American Billionaire Catsimatidis Threatens to Leave New York Over Mamdani’s Policies

**Greek-American Billionaire Catsimatidis Threatens to Leave New York Over Mamdani’s Policies**

*By Nick Kampouris | November 9, 2025 | Greek Reporter*

Greek-American billionaire John Catsimatidis has threatened to leave New York and relocate his business to Florida following the election of Zohran Mamdani as mayor. Catsimatidis cited the incoming administration’s plans for affordable city-run grocery stores that would sell subsidized essentials to ease the cost-of-living crisis experienced by many New Yorkers.

The Red Apple Group owner, whose estimated net worth stands at $4.8 billion, had initially vowed to move his operations to New Jersey. However, he reversed course after Democrat Mikie Sherrill won the state’s gubernatorial race this week, according to Forbes.

### Who Is Catsimatidis and Why Is He Against Mamdani’s Plans?

Catsimatidis immigrated to New York from Greece as an infant and built his grocery empire from a single Red Apple store opened in 1971. Today, he controls Gristedes and D’Agostino supermarkets, which are among the most popular in New York. His company claims to operate the largest supermarket chain in New York City, with most stores concentrated in Manhattan.

The billionaire has warned of potential job losses and operational downsizing, blaming declining profitability, increased shoplifting, and what he views as hostile city policies for the challenging business environment.

### Mamdani’s Vision for New York

Zohran Mamdani, a 34-year-old democratic socialist and former state assemblyman, won the mayoral race with an overwhelming majority and against all odds. He ran on a platform promising to address food insecurity and high grocery costs through city-operated stores.

His proposals resonate deeply with New Yorkers frustrated by rising living costs and limited access to affordable food in underserved neighborhoods. The mayor-elect plans to establish grocery stores exempt from rent and property taxes, selling goods at wholesale prices. This initiative particularly appeals to working-class residents and families struggling with inflation and high housing costs.

Mamdani’s broader agenda includes increased investment in public services, funded by a 2 percent income tax surcharge on individuals earning over $1 million and corporate tax increases expected to raise $9–10 billion annually. Throughout his campaign and victory speech, Mamdani emphasized solidarity with ordinary New Yorkers facing economic hardship, positioning his administration as a counterweight to the business interests of the billionaire class — which many voters believe have neglected the city’s most vulnerable communities.

### Opposition From Catsimatidis and Other Business Leaders

Catsimatidis has repeatedly criticized Mamdani’s agenda, arguing that city-sponsored, tax-exempt grocery stores would create unfair competition and drive private operators out of business. He told Forbes that the Red Apple Group has operated with no profit margins for two years, citing record levels of shoplifting and declining sales as stores resort to locking up merchandise.

The billionaire suggested Florida as a likely destination for relocation due to its lower tax burden and more favorable business climate under conservative Republican Governor Ron DeSantis.

Other prominent Republican-leaning business figures share Catsimatidis’ concerns. Investor Bill Ackman warned that the departure of high earners could devastate the city’s tax base. The National Grocers Association issued a statement urging officials to enforce antitrust laws and combat monopolistic practices rather than launching government-run stores.

Former President Donald Trump also weighed in, expressing concern that Mamdani intended to “take over” Catsimatidis’ grocery stores, claiming the billionaire had contacted him about the matter, Forbes reported.

### Mamdani Responds

Mamdani has defended his proposals, stating that city-run grocery stores will complement rather than replace private retailers. The Mamdani administration is expected to launch a pilot program for city-run grocery stores in 2026.

Business coalitions may pursue legal challenges or legislative action to block the initiative. Meanwhile, Catsimatidis has not announced a definite timeline for relocation or layoffs.

**Topics:** Business/Economy; News/Current Events; Politics/Elections; US: New York
**Keywords:** grocery stores, Mamdani, New York City

*Comments Section Highlights:*

– *nickcarraway:* “Enough threatening! Do you think you’re a Hollywood star threatening the country with your absence if Trump wins? Mamdani won, so just shake the dust from your sandals and move on.”

– *KarlInOhio:* “(I pray that the sleeping giant has finally awakened and been filled with a terrible resolve.)”

– *DoodleBob:* “Gravity’s waiting period is about 9.8 m/s².”

– *nwrep:* “His daughter is hot!”

**Disclaimer:** Opinions posted are those of the individual posters and do not necessarily represent the opinions of Greek Reporter or its management. All materials posted are protected by applicable copyrights.
https://freerepublic.com/focus/f-news/4351627/posts

Bessent says no formal White House health care proposal as shutdown drags on

Treasury Secretary Scott Bessent clarified on Sunday that there is no formal proposal from the White House to defund the Affordable Care Act (Obamacare) and instead send money directly to Americans. This statement comes despite a social media post from President Donald Trump on Saturday promoting such a plan.

During an interview on ABC News’ “This Week,” anchor George Stephanopoulos asked Bessent about the president’s new proposal to eliminate Obamacare and redirect funds directly to the people. Bessent responded, “We don’t have a formal proposal.”

When pressed about whether such a plan would be proposed to the Senate, Bessent stated that the administration is not proposing it “right now.”

Bessent also addressed Trump’s push to end the Senate’s filibuster. Stephanopoulos asked, “Is the best way to end the shutdown right now to end the filibuster?” Bessent replied, “The best way is for five Democratic senators to come across the aisle.”

This is a developing story. Please check back for updates.
https://abcnews.go.com/Politics/bessent-formal-white-house-health-care-proposal-shutdown/story?id=127350445

Trump has accused Venezuelan boat crews of being narco-terrorists. The truth, AP found, is more nuanced

Trump Has Accused Venezuelan Boat Crews of Being Narco-Terrorists. The Truth, AP Found, Is More Nuanced
Associated Press | 11/08/2025 | Regina Garcia Cano

GÜIRIA, Venezuela (AP) — One was a fisherman struggling to eke out a living on $100 a month. Another was a career criminal. A third was a former military cadet. And a fourth was a down-on-his-luck bus driver.

The men had little in common beyond their Venezuelan seaside hometowns and the fact that all four were among the more than 60 people killed since early September when the U.S. military began attacking boats that the Trump administration alleges were smuggling drugs.

President Donald Trump and top U.S. officials have alleged the craft were being operated by narco-terrorists and cartel members bound with deadly drugs for American communities.

The Associated Press learned the identities of four of the men and pieced together details about at least five others who were slain, providing the first detailed account of those who died in the strikes.

In dozens of interviews in villages on Venezuela’s breathtaking northeastern coast from which some of the boats departed, residents and relatives said the dead men had indeed been running drugs but were not narco-terrorists or leaders of a cartel or gang.

Most of the nine men were crewing such craft for the first or second time, making at least $500 per trip, residents and relatives said. They were laborers, a fisherman, a motorcycle taxi driver. Two were low-level career criminals. One was a well-known local crime boss who contracted out his smuggling services to traffickers.

The men lived on the Paria Peninsula, in mostly unpainted cinderblock homes that can go weeks without water service and regularly lose power for several hours a day. They awoke to panoramic views of a national park’s tropical forests, the Gulf of Paria’s shallows, and the Caribbean’s sparkling sapphire waters.

(Read the full article at apnews.com)

**Topics:** Crime/Corruption, Foreign Affairs, News/Current Events, War on Terror
**Keywords:** drugs, narcotics, Venezuela

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*Disclaimer:* Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright.
https://freerepublic.com/focus/f-news/4351549/posts

No people thought unaccounted for as UPS cargo plane crash toll stands at 14, Louisville mayor says

LOUISVILLE, Ky. — The number of victims from the UPS cargo plane crash has been confirmed at 14, with no one believed to be missing, Louisville Mayor Craig Greenberg announced Saturday.

The 13 victims found at the crash site matched the total number of missing persons reported to police, Greenberg stated in a post on X. “We believe the total number of victims will be 14,” including one individual who died Friday in a hospital, he added.

The Jefferson County coroner is working to identify the victims and will release their names as soon as the identifications are confirmed.

The crash occurred Tuesday at UPS Worldport when an MD-11 cargo plane bound for Honolulu went down. The three pilots onboard were killed. According to reports, a large fire developed in the left wing, and an engine separated during takeoff, causing the plane to crash into nearby businesses.

Following the accident, both UPS and FedEx decided on Friday to ground their fleets of MD-11 aircraft as a precautionary measure. MD-11 planes make up about 9% of UPS’s airline fleet and 4% of FedEx’s fleet.
https://www.clickorlando.com/business/2025/11/09/no-people-thought-unaccounted-for-as-ups-cargo-plane-crash-toll-stands-at-14-louisville-mayor-says/

Cornell University Reaches Agreement with Trump Administration

The Trump-Bondi Department of Justice (DOJ) has reached an agreement with Cornell University to unfreeze federal funds in exchange for significant reforms at the institution. The agreement includes a substantial investment in agricultural research and financial payouts to the federal government. Additionally, Cornell will be required to provide all employees with guidelines prohibiting discrimination related to diversity, equity, and inclusion (DEI) policies.

“The Trump Administration has secured another transformative commitment from an Ivy League institution to end divisive DEI policies,” declared U.S. Secretary of Education Linda McMahon in a press release on Friday. “Thanks to this deal with Cornell and the ongoing work of DOJ, HHS, and the team at ED, U.S. universities are refocusing their attention on merit, rigor, and truth-seeking—not ideology. These reforms are a huge win in the fight to restore excellence to American higher education and make our schools the greatest in the world.”

As part of the agreement, Cornell University will invest $30 million through 2028 in research programs related to agriculture and farming. According to the DOJ press release, this investment will support American farmers by helping reduce production costs and increase efficiency. Additionally, Cornell will pay $30 million to the United States over the next three years.

The university has agreed to provide the Department of Justice’s “Guidance for Recipients of Federal Funding Regarding Unlawful Discrimination” as a training resource for faculty and staff. Cornell will also conduct annual surveys to evaluate the campus climate for students and comply with lawful requests from the United States related to foreign funding sources.

The Department of Health and Human Services (HHS) is also involved in the agreement. “The Trump Administration is actively dismantling the ability of elite universities to discriminate based on race or religion,” stated HHS Secretary Robert F. Kennedy Jr. “The DOJ’s agreement with Cornell strengthens protections for students against antisemitism and all other forms of discrimination.”

Assistant Attorney General Harmeet K. Dhillon of the DOJ Civil Rights Division celebrated the deal as a victory for fairness and civil rights. “As a result of securing this groundbreaking settlement between the United States and Cornell, applicants and students will receive fair and equal treatment as required by our civil rights laws, and American farmers will have expanded opportunity for agricultural development and productivity,” said Dhillon.

She added, “The Cornell agreement exhibits this administration’s deep commitment to vigilantly enforce our federal civil rights laws on college campuses and ensure that American universities manage taxpayer dollars responsibly.”

Cornell had faced significant cutbacks in hiring and budgeting in August amid the loss of federal funding, as the university delayed implementing required reforms. In October, the university’s student newspaper sparked controversy by publishing a professor’s artwork containing Nazi imagery.

It appears that since then, Cornell has recognized the need to prioritize federal funding over controversial ideologies. One hopes the university will now uphold its commitments under this agreement.

*For Our VIPs:*
**Trans Teacher Makes Death Threat Over Pronouns as Court Rules Against Forced Use**
https://pjmedia.com/catherinesalgado/2025/11/08/cornell-university-reaches-agreement-with-trump-admin-n4945764

Flying soon? What you need to know as Trump admin creates holiday travel chaos

While nonessential employees were furloughed during the recent government shutdown, workers deemed essential—such as air traffic controllers—have continued their jobs. But what does this mean for the millions of Americans who take to the skies every day? To find out, The Conversation U.S. spoke with Laurie A. Garrow, Professor of Civil and Environmental Engineering at the Georgia Institute of Technology.

### What Do We Know About the FAA’s Plans So Far?

The first thing to note is that the situation can change rapidly. However, as of this morning, about 4% of flights are being canceled across 40 “high-volume” airports. This list is publicly available and includes most of the major hubs in the United States such as Atlanta, New York’s airports, Chicago O’Hare, Los Angeles International, and Dallas/Fort Worth.

The plan is to increase cancellations to 10% by November 14 if the shutdown continues that long. The FAA, the U.S. Department of Transportation, and the airlines are working together to decide which flights and routes will be affected. This will undoubtedly be monitored closely in the coming days, with efforts made to minimize disruption for customers.

Currently, cuts are focused on domestic flights only. International flights across the Atlantic, Pacific, and to Latin America are not subject to cuts for now. The 4% cancellations mainly target high-frequency routes to help lessen the overall impact.

For example, American Airlines typically flies nine flights a day from Miami to Orlando but plans to reduce that to eight flights this weekend. Regional flights may also see reductions; a typical route such as Erie, Pennsylvania, to Charlotte might drop from three daily flights to one or two. However, the FAA has made it clear that they will not cut flights to markets entirely, only reduce the number.

### What Will This Mean for Existing Flights?

Passengers can expect more people on the flights that continue to operate. Fortunately, we are currently in the lull before the Thanksgiving travel rush, so there is more slack in the system and extra seats available. If a flight is canceled on a busy route, it should be relatively easy to accommodate passengers on another flight.

Customers are also likely to be advised to arrive at airports earlier than usual. More delays on existing flights are expected because of safety measures.

Air traffic control can only safely manage a certain number of flights at any one time. With fewer controllers available or working reduced hours, the number of airplanes in the sky must be limited. Controllers cannot safely monitor double the usual number of flights.

To manage this, more ground delay programs will be implemented to limit aircraft movements into or out of airports, especially during peak periods. While this causes delays, it is a necessary safety measure.

### What Impact Will This Have on Airlines?

At a 4% cancellation rate, the impact on airlines is expected to be relatively minor. The affected airports are major hubs, and the reduction in flights is balanced across all U.S. carriers.

However, the broader impact may ripple across industries that depend on air transportation. According to the International Air Transport Association, the U.S. air transport sector contributes $3 trillion—about 4.7%—to GDP and supports approximately 7.6 million jobs.

If the shutdown and resulting disruptions continue, especially into the holiday season, the economic impact could be more severe.

### What If the Shutdown Continues Into the Holiday Season?

If flight reductions rise to 10% by the holidays, with added delays, carriers will likely experience significant challenges. The holiday season is a peak travel time, so disruptions during this period will be especially painful for airlines and passengers alike.

### Will This Affect How Americans Choose to Travel?

Air travel is often an emotional choice—used for significant life events like family reunions, holidays, or important business meetings. Difficulty in securing timely flights could influence travel decisions this holiday season.

Robert Isom, CEO of American Airlines, noted on November 7 that the airline is already seeing an impact on bookings, with people postponing or rescheduling trips. For journeys of around 500 to 600 miles, traveling by car is becoming a more attractive option for many.

### Will Passengers Be Compensated for Canceled Flights?

Passenger compensation for delays and cancellations usually depends on whether the issue was within the airline’s control. The U.S. Department of Transportation maintains a dashboard detailing airline policies for mitigating passenger inconvenience in such cases.

However, flight disruptions caused by air traffic control staffing shortages are not considered within the airline’s control. Therefore, compensation policies vary by airline.

As of November 7, many carriers have allowed customers to change flights or request refunds without penalties, even for nonrefundable fares like basic economy. Airlines recognize the importance of maintaining customer loyalty during these disruptions.

Generally, major carriers offer more compensation for delays and cancellations within their control compared to low-cost airlines.

### Is There Any Precedent for This Situation?

There is no exact precedent for a 4% to 10% across-the-board reduction in flights caused by a government shutdown.

However, major disruptions have occurred before, such as after the September 11, 2001 terrorist attacks and during the COVID-19 pandemic, when illness among flight attendants and pilots caused cancellations and delays before the holidays.

Historically, consumers have temporarily altered their travel behavior under such circumstances. After 9/11, for example, some travelers shifted to automobile travel for shorter journeys of 500 to 600 miles due to increased airport hassle.

### What Advice Would You Give to Would-Be Flyers Now?

1. **Download Apps:** Get the airport and airline apps for the latest, reliable information.
2. **Book Early:** For major events, consider booking flights a day earlier than usual to provide a buffer in case of delays or cancellations.
3. **Avoid Connections:** The fewer flight legs, the less chance for complications.
4. **Travel Light:** Avoid checking bags if possible to avoid dealing with luggage delays if your flight is canceled.

By taking these precautions, travelers can reduce some of the stress associated with current flight disruptions.

*Laurie A. Garrow, Professor of Civil and Environmental Engineering, Georgia Institute of Technology*
https://www.alternet.org/travel-chaos-trump/

21Shares XRP ETF Nears Launch as SEC Timer Starts

The long-awaited debut of a U.S. spot XRP ETF could arrive sooner than expected. Crypto-focused asset manager 21Shares has filed a new document with the Securities and Exchange Commission (SEC) that activates a 20-day countdown for automatic approval—unless the regulator steps in.

The filing, known as Form 8(a), was submitted on Friday and sets the clock ticking toward a potential listing date around November 27. Bloomberg ETF analyst Eric Balchunas confirmed the development, noting that the process now depends entirely on whether the SEC intervenes before the timer expires.

### How the 21RP ETF Works

At the heart of the proposal lies the 21 Exchange. Unlike actively managed crypto funds, this structure focuses purely on exposure to XRP’s value. The 21RP ETF shares are held by designated custodians. Once trading begins, these shares can later be sold or redeemed to help establish market liquidity.

### 21Shares Expands Its ETF Pipeline

The 21RP ETF is not the only product in 21Shares’ pipeline. The company has also submitted an application for an ETF tracking Hyperliquid’s HYPE token—a fund tied to one of the leading decentralized perpetual trading protocols.

If approved, this would mark the first leveraged ETF based on a DeFi platform’s performance, signaling a broader shift toward on-chain assets entering traditional markets. The Zurich- and New York-based firm’s latest filings suggest an aggressive expansion strategy designed to capitalize on the SEC’s faster approval framework introduced earlier this fall.

### ETF Filings Surge as Asset Managers Race Ahead

Alongside 21Shares’ filings, Bitwise recently made headlines for submitting its own Form 8(a) for a spot Dogecoin ETF, just months after the SEC delayed its earlier application.

According to Balchunas, both the Bitwise DOGE fund and 21RP ETF could theoretically begin trading before the month ends if the automatic approval process runs its course.

### A Different SEC, A Faster Rulebook

This current wave of filings reflects a significant shift in the regulatory climate under SEC Chair Paul Atkins, who replaced Gary Gensler earlier this year.

In September, the SEC introduced new listing standards that shortened crypto ETF reviews from 240 days to 75 days, creating a friendlier environment for token-based funds. These reforms align with the Trump administration’s broader pro-crypto policies, aimed at positioning the U.S. as a hub for regulated digital-asset investment vehicles.

Under Gensler, only Bitcoin and Ethereum had secured spot ETF approval. Now, issuers are testing the limits with XRP, Solana, and even DeFi-linked assets like HYPE.

### Market Response

The market appears to be responding positively to the news. XRP climbed 4.2% over the last 24 hours to trade at $2.32 on Bitstamp, based on CoinGecko data.

Despite the daily gain, the token remains about 7% lower on the week as traders navigate broader market volatility.

*The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.*

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