Guggenheim Municipal Income Fund Q3 2025 Commentary

Posted on 17/11/2025 by admin

**Guggenheim Municipal Income Fund (Institutional Class) – Q3 Performance Summary**

Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners, specializing in fixed income, equity, and alternative strategies.

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**Third Quarter Performance**

The Guggenheim Municipal Income Fund (Institutional Class) returned 3.5% for the third quarter, outperforming its benchmark, the Bloomberg Municipal Bond Index, by 0.5%. This solid performance reflects the fund’s strategic positioning and active management.

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**Market Overview**

Municipal to Treasury yield ratios have compressed following the recent rally in the markets. Additionally, U.S. economic growth regained momentum after a period of deceleration earlier this year. This improvement has been supported by a recovery in consumer spending and robust investment in artificial intelligence.

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**Performance Contributors**

Among the fund’s largest sector weights, school districts, general purpose, and housing bonds were key contributors to the positive performance this quarter. These sectors benefited from favorable market conditions and strong underlying fundamentals.

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**Contact Information**

For further inquiries or communication, please reach out through Guggenheim Investments’ official channels.

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*Stay tuned for more updates and insights from Guggenheim Investments.*
https://seekingalpha.com/article/4844492-guggenheim-municipal-income-fund-q3-2025-commentary?source=feed_all_articles

Institutions don’t care about Bitcoin Core vs Knots clash: Galaxy exec

Posted on 17/11/2025 by admin

The majority of institutional Bitcoin investors don’t seem to know or care about the ongoing Bitcoin Core vs Knots debate, which has been intensifying over the past few months. This insight comes from Galaxy Digital’s head of research, Alex Thorn.

### The Core of the Debate

At the heart of the discussion are differing views on what Bitcoin (BTC) should be used for, particularly whether non-financial transactions should be excluded from the blockchain. The recent Bitcoin Core v30 update has sparked this debate, with some arguing that it opens the “floodgates” to spam transactions.

Supporters of Knots nodes believe this type of “spam” should be filtered out to prevent potential misuse. They warn that allowing unchecked transactions could enable bad actors to embed illegal or immoral content into the blockchain. On the other hand, Bitcoin Core advocates argue that imposing such restrictions could fragment the network, confuse users, and undermine one of the fundamental principles of Bitcoin’s technology: permissionless and decentralized operation.

### More Than Half Are Unaware or Unconcerned

In a recent post on X (formerly Twitter), Alex Thorn shared findings from a poll conducted among 25 institutional Bitcoin investors that Galaxy Digital works with. The results reveal that:

– 46% of respondents were unaware of the Bitcoin Core vs Knots debate.
– 36% said they either didn’t know much about it or felt ambivalent.
– The remaining 18% indicated a clear preference for Bitcoin Core’s position.

Thorn commented on these results, saying, “Real capital, real investors, service providers, even government officials see no problem at all or are unaware there’s even a debate. At best, it’s a hypothetical problem, and their proposed solution does nothing to solve the (fake) problem they claim is real.”

He further added, “Even if it [the proposed solution] is adopted, all their legal theories are mumbo jumbo, and the fears about them are ones that everyone got comfortable with years ago during early debates over the legality of permissionless decentralized systems.”

### Addressing Concerns About the Poll Size

Some questioned the validity of the poll due to its small sample size. Thorn acknowledged this concern but assured that the poll’s results align closely with his broader interactions in the Bitcoin ecosystem.

He stated, “I won’t reveal their identities but I will say yes, and the results from that poll line up exactly with my conversations with other whales, investors, leaders at miners and service providers, and government officials over the last several months.”

Thorn also noted that while he did not poll miners directly, he is familiar with most of the major mining players and confirmed that “nobody cares or is following [the debate] at all.”

### Possible Outcomes

Last month, a Bitcoin Improvement Proposal (BIP) proposing a soft fork stirred controversy on X. A particular section appeared to threaten legal consequences for those rejecting the fork, which many Bitcoiners criticized as “legal threats.”

Despite this, Thorn believes the debate will likely conclude in one of three ways:

1. **No one cares, and the debate fades into obscurity.**

2. **The proponents of the fork inadvertently create the very problem they fear by scaring everyone away from Bitcoin; however, their fork ideas ultimately fail.**

3. **Although highly unlikely, their proposed changes get adopted. Even then, Thorn argues that their solutions would fall short, and their actions would have already instilled fear around permissionless systems, causing irreparable harm to Bitcoin adoption.**

### Conclusion

The ongoing Bitcoin Core vs Knots debate highlights important philosophical differences in the Bitcoin community regarding network governance and usage. However, for most institutional investors and key players in the ecosystem, this debate remains largely theoretical or irrelevant to their focus on Bitcoin as a financial asset.

As the discussion unfolds, its ultimate impact on Bitcoin’s future adoption and network integrity remains to be seen. For now, many continue to prioritize Bitcoin’s core principles of permissionless access and decentralization.
https://cointelegraph.com/news/bitcoin-core-vs-knots-debate-institutional-investors-response

Aptos Records $528 Million To Stablecoin Supply, Surpassing Ethereum, Solana, and BNB Chain in Daily Stablecoin Inflows

Posted on 16/11/2025 by admin

Aptos Emerges as the Busiest Ecosystem for Stablecoins, Surpassing Ethereum and Others

Aptos, a Layer-1 blockchain, has recently emerged as the busiest ecosystem for stablecoins, outperforming established networks like Ethereum, Solana, and BNB Chain in key performance metrics. On Saturday, November 15, 2025, Aptos surpassed Ethereum in 24-hour stablecoin supply inflows, according to data revealed by market analyst Crypto Patel.

According to the reported figures, Aptos recorded massive inflows of stablecoins on that day, adding $528 million to its supply within a 24-hour period. This surge indicates increased stablecoin usage on the network, reflecting strong on-chain activity and heightened investor confidence in the blockchain.

Institutional Outflows Impact the Stablecoin Market

Aptos overtaking Ethereum in stablecoin inflows marks a significant shift in the blockchain landscape, as emerging chains begin to challenge well-established protocols. Ethereum has long dominated in stablecoin issuance and utility, but Aptos’s recent performance suggests a possible change in blockchain dynamics.

During the same 24-hour timeframe, Ethereum added $145 million to its stablecoin supply, while the Plasma blockchain contributed $180 million, placing it third in the rankings. Following these were Polygon, Base, and BNB Chain with inflows of $70 million, $54 million, and $47 million respectively.

In contrast, networks like Tron, Arbitrum, and Solana experienced notable stablecoin outflows with no inflows recorded over the day. These declines highlight a reduction in stablecoin volume across parts of the broader crypto ecosystem.

On-chain metrics further reveal that the stablecoin sector has now seen a second consecutive weekly decrease in stablecoin volume. This week alone, $1.244 billion exited the market, following a $1.925 billion outflow the previous week. As of November 16, 2025, the total stablecoin market capitalization stands at $304.109 billion, according to data sourced from DeFiLlama.

What’s Driving Demand for Aptos?

Fluctuations in stablecoin supply are important indicators of growing demand on a blockchain, capital flows, and user engagement. When these metrics surge, it often signifies that more users are actively conducting transactions or moving funds on the network.

Aptos, a relatively new Layer-1 chain, is well-regarded for its scalability and rapid transaction processing. Its low transaction costs and fast settlements have attracted a steady influx of developers and users in recent months.

Several factors have contributed to this sudden spike in stablecoin activity on Aptos. These include increased decentralized finance (DeFi) activity on the chain and the recent launch of former President Donald Trump’s USD1 stablecoin on the platform.

The rise of Aptos in the stablecoin space signals an evolving blockchain ecosystem where emerging networks are gaining traction and challenging the dominance of legacy platforms. It will be interesting to observe how these dynamics continue to unfold in the coming months.
https://bitcoinethereumnews.com/ethereum/aptos-records-528-million-to-stablecoin-supply-surpassing-ethereum-solana-and-bnb-chain-in-daily-stablecoin-inflows/

Crypto News: Bitwise CEO Says Four-Year Crypto Cycle Is Dead

Posted on 16/11/2025 by admin

**Bitwise CEO Hunter Horsley Declares the Four-Year Crypto Cycle Dead, Citing Market Maturity Driven by Bitcoin ETFs and Regulatory Shifts**

Hunter Horsley, CEO of investment firm Bitwise, has declared that the traditional four-year crypto cycle is no longer relevant. According to Horsley, this cycle has been replaced by a more mature market structure shaped by the introduction of Bitcoin ETFs and significant regulatory changes in the United States.

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### A New Market Structure Emerges

In a recent post on X (formerly Twitter), Horsley explained that the old four-year market cycle belongs to a “bygone era” of cryptocurrency. He emphasized that the market has evolved considerably, stating:

> “Since the introduction of the Bitcoin ETFs and new administration, we’ve seen a new market structure, new players, new dynamics, new reasons people buy and sell.”

This shift marks a fundamental change in how the crypto market functions. The landscape now includes fresh participants and novel market behaviors, moving away from the volatility often driven by retail investors in the past.

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### Optimism Amid Recent Market Turbulence

Despite the sharp downturn in asset prices and investor sentiment observed during October and November, Horsley remains optimistic about the crypto market’s long-term fundamentals. He suggested that the market has likely been in a bear phase for almost six months and that the end of this phase is near.

“The setup for crypto right now has never been better,” Horsley commented, highlighting the positive outlook despite recent challenges.

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### Institutional Adoption and Regulatory Tailwinds

A major driver behind this market evolution is the growing involvement of institutional investors. Unlike previous cycles primarily influenced by retail traders, today’s crypto market sees substantial capital inflows from large institutions. This influx brings different trading patterns and stability to the market.

Regulatory clarity has also improved, shifting from a historical headwind to a supportive tailwind for crypto assets. The pro-crypto regulatory pivot, particularly in the U.S., fosters a constructive environment for investors. According to Horsley, the White House and lawmakers are playing an active role in shaping policies that facilitate more open interaction with cryptocurrencies.

This positive regulatory climate is a game-changer, contributing to a more stabilized and predictable market. The presence of institutional capital reduces reliance on retail sentiment swings and curbs extreme volatility.

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### Perspectives on Market Liquidity and Price Movements

Financial educator Robert Kiyosaki has attributed recent crypto market downturns to low liquidity levels. Kiyosaki forecasts that prices for cryptocurrencies and precious metals could rise as governments resort to printing more money to finance budget deficits, potentially fueling asset price increases.

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### Looking Ahead: A More Mature Crypto Market

Hunter Horsley’s insights signal a new era for the crypto market—one characterized by maturity, stability, and sustained growth. The integration of Bitcoin ETFs, combined with clearer regulatory frameworks and institutional participation, sets the stage for broader adoption and long-term expansion.

As the market transitions away from volatile four-year cycles toward a more structured environment, investors may find new opportunities grounded in fundamental strengths rather than speculative hype.

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*Related Reading: [Harvard Boosts Bitcoin ETF Position by 257% in Latest 13F | Live Bitcoin News](#)*
https://bitcoinethereumnews.com/crypto/crypto-news-bitwise-ceo-says-four-year-crypto-cycle-is-dead/

BitMine Appoints Chi Tsang as CEO Amid Leadership Reshuffle

Posted on 15/11/2025 by admin

**BitMine Immersion Technologies Appoints Chi Tsang as CEO, Targets 5% of Ethereum Supply**

BitMine Immersion Technologies has announced a significant leadership shift with the appointment of Chi Tsang as Chief Executive Officer, along with three new board directors on November 14. This move comes as the Ethereum-focused firm looks to redefine its strategy in the digital asset industry.

**Leadership Overhaul to Strengthen Ethereum Strategy**

With Chi Tsang taking over from former CEO Jonathan Bates, BitMine is reinforcing its commitment to becoming a major institutional force within the Ethereum finance landscape. The new leadership team is expected to bring fresh insights and strategic direction as BitMine aims to increase its Ethereum holdings.

According to Tom Lee, Chairman of BitMine, “The new members of the board have been carefully selected to provide a unique blend of experience, insight, and leadership across technology, DeFi, and financial services. This will help BitMine push further on its goal to hold 5% of Ethereum’s supply while bridging the gap between the traditional capital markets and the Ethereum ecosystem.”

**BitMine’s Ambitious Ethereum Holdings Strategy**

BitMine’s bold objective to hold 5% of Ethereum’s supply places the firm alongside the world’s largest institutional treasuries. This strategy underscores a growing trend among public firms to accumulate significant digital assets, signaling increasing institutional interest in Ethereum and broader blockchain technologies.

**Ethereum’s Market Position Under Scrutiny**

Currently, Ethereum is trading at $3,174.65 with a market capitalization of $383.17 billion, accounting for 11.84% of the total cryptocurrency market, according to CoinMarketCap data. In the past 24 hours, Ethereum’s price rose by 0.92%. However, the asset has experienced declines of 6.59% over the past week and 17.62% over the past 30 days.

BitMine’s aggressive accumulation strategy, combined with its new leadership, could have far-reaching implications for both traditional markets and the crypto community’s perception of Ethereum’s institutional adoption. As BitMine presses forward with its goal of holding a substantial share of Ethereum’s supply, the industry will be watching closely.
https://bitcoinethereumnews.com/tech/bitmine-appoints-chi-tsang-as-ceo-amid-leadership-reshuffle/

Investors Predict Big Moves From BlockchainFX and Notcoin Before Year-End (Best Cryptos to Buy This Week)

Posted on 15/11/2025 by admin

**Crypto Presales: A New Wave of Investor Speculation**

As the year edges closer to its final quarter, a new wave of investor speculation is forming around two standout projects: **BlockchainFX (FX)** and **Notcoin (NOT)**. Market analysts suggest both assets are gearing up for major momentum shifts, making them some of the best cryptos to buy this week for traders seeking fast, high-growth opportunities.

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### BlockchainFX: The Breakout Contender Set for a Major Year-End Surge

BlockchainFX has rapidly gained recognition as one of the best cryptos to buy this week. It recently crossed $12 million raised during its presale, attracting over 17,500 investors. With a current presale price of $0.03 and a confirmed launch price of $0.05, early buyers stand to gain immediate upside. However, the bigger opportunity lies in its projected $1 valuation post-launch, according to analysts monitoring the project’s explosive growth.

What sets BlockchainFX apart is its fully integrated multi-market trading app. This platform allows users to access crypto, stocks, forex, ETFs, and over 500 global assets—all within a single decentralized environment. Unlike many speculative tokens, BlockchainFX positions itself as a large-scale utility platform.

Additional features like daily staking rewards and a multi-awarded trading interface have turned BFX into one of the most talked-about early-stage investments this year.

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### AOFA Licensing: A Regulatory Advantage That Boosts Investor Confidence

A major milestone for BlockchainFX was securing official licensing from the Anjouan Offshore Finance Authority (AOFA). This regulatory approval distinguishes it from nearly every other active presale project.

For investors, the AOFA license offers confirmed assurance that the platform operates within a legal framework capable of scaling globally. This approval dramatically strengthens BlockchainFX’s trust profile, reduces investor risk, and opens the door to institutional partnerships upon full launch.

Regulation combined with genuine utility often leads to long-term market dominance, making BlockchainFX one of the best cryptos to buy this week.

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### Projected ROI: Where Early Buyers See the Biggest Gains

The financial upside of the presale is a significant factor driving demand. At $0.03 per token, BFX offers extreme value.

– A $1,000 investment could grow to $33,000 if the token reaches $1.
– A $10,000 investment could balloon to $330,000.

This does not even account for the bonus tokens available through the limited-time **LICENSE50** code, which boosts allocations by 50%, effectively cutting the cost per token dramatically.

With analyst predictions suggesting long-term prices of $5 to $10, BlockchainFX stands far ahead of most presale tokens in potential upside.

**Bonus Offer:** Spend $100 or more on BFX and instantly qualify for entry into the $500,000 Gleam Giveaway!

All these factors contribute to why many investors consider BlockchainFX the best crypto to buy this week—especially for those seeking early access to a platform that could replicate the early success of Binance’s BNB.

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### Notcoin: Community-Fueled Momentum Continues to Build

While BlockchainFX dominates utility-driven interest, **Notcoin (NOT)** is gaining strong traction thanks to its expanding ecosystem and Telegram-powered growth engine.

Notcoin is fast becoming one of the most widely adopted social-mining and tap-to-earn tokens, boasting a massive user base that supports strong liquidity and market visibility.

Analysts cite several reasons why Notcoin is among the best cryptos to buy this week:

– Deep integration within Telegram.
– Rising developer involvement.
– Expanding use cases across mini-apps and Telegram games.

Notcoin’s success stems from consistent user interaction and a rapidly scaling ecosystem, not speculation alone.

The token has demonstrated resilience during volatile markets and has new updates scheduled for release soon. Investor expectations for strong year-end performance continue to rise.

Although Notcoin’s potential returns may not match the explosive upside of early-stage presales like BlockchainFX, it remains one of the most reliable growth picks heading into the final quarter.

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### Final Outlook: BlockchainFX and Notcoin Dominate Investor Watchlists

Based on the latest market research and growing social demand, **BlockchainFX** and **Notcoin** stand out as the best cryptos to buy this week for investors seeking strong upside before year-end.

– **Notcoin** offers stability and adoption-driven growth.
– **BlockchainFX** provides the highest potential returns, backed by regulatory approval, a high-utility platform, rapid presale growth, and powerful bonus incentives.

With BFX’s price expected to rise soon—and the **LICENSE50** bonus code still available—now is the most strategic time for investors to secure their positions.

For those searching for the next breakout crypto before year-end momentum kicks in, BlockchainFX is the top opportunity right now.

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### For More Information:

– Website: [Insert Website URL]
– X (Twitter): [Insert X Handle]
– Telegram Chat: [Insert Telegram Link]

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*This publication is sponsored. Coindoo does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or any other materials on this page. Readers are encouraged to conduct their own research before engaging in any cryptocurrency-related actions. Coindoo will not be liable for any damages or losses resulting from use or reliance on any content, goods, or services mentioned. Always do your own research.*

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**Author:** Krasimir Rusev is an experienced journalist specializing in cryptocurrencies and financial markets. He provides in-depth analysis, news, and forecasts for digital assets, offering reliable insights on the latest market trends and crypto dynamics.

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**Related Stories:**
[Insert links to related stories or articles here]
https://bitcoinethereumnews.com/finance/investors-predict-big-moves-from-blockchainfx-and-notcoin-before-year-end-best-cryptos-to-buy-this-week/

Strategy Founder Michael Saylor Says Bitcoin Will Overtake Gold by 2035! Here Are the Details

Posted on 13/11/2025 by admin

**Michael Saylor Predicts Bitcoin Will Replace Gold by 2035**

In a recent interview, Michael Saylor, founder and chairman of MicroStrategy, expressed strong confidence that Bitcoin will surpass gold as the dominant asset in the financial world within the next decade.

**Bitcoin to Overtake Gold by 2035**

Saylor stated, “I have no doubt that Bitcoin will become a larger asset class than gold by 2035.” He emphasized that, in the long term, Bitcoin is poised to become the reserve asset of the digital age due to its **limited supply**, increasing **global adoption**, and growing **interest from institutional investors**.

He also highlighted that **central banks** and **large corporations worldwide** are increasingly inclined to include digital assets in their balance sheets. Such integration is expected to **permanently increase demand for Bitcoin**.

**MicroStrategy’s Investment in Bitcoin**

Since 2020, MicroStrategy has been a prominent supporter of Bitcoin, making large-scale investments. As of November 2025, the company holds over **214,000 Bitcoins**, with a total value exceeding **$20 billion**.

Saylor has previously described Bitcoin as “digital gold” and has argued that it serves as the **strongest hedge against inflation**. His recent statements reflect the growing confidence among institutional investors in Bitcoin’s **long-term potential**.

**Expert Opinions and Market Implications**

Industry experts suggest that if Saylor’s prediction comes true, Bitcoin’s market capitalization could surpass **$10 trillion**.

*Note: This article is for informational purposes only and does not constitute investment advice.*
https://bitcoinethereumnews.com/bitcoin/strategy-founder-michael-saylor-says-bitcoin-will-overtake-gold-by-2035-here-are-the-details/

JPM Coin Enables 24/7 Instant Payments for Institutional Clients

Posted on 12/11/2025 by admin

**JPM Coin: Revolutionizing Institutional Payments with 24/7 Instant Blockchain Transactions**

JPMorgan has launched **JPM Coin**, a new digital token designed to enable instant, round-the-clock payments for institutional clients. Operating on the Base blockchain, JPM Coin allows institutions such as corporations, hedge funds, and other financial organizations to complete transactions in seconds—eliminating the delays common with traditional bank transfers that can take hours or even days.

### What is JPM Coin?

JPM Coin is a digital asset developed by JPMorgan, each token representing one U.S. dollar held securely in the bank’s reserves. This 1:1 backing by U.S. dollar deposits provides stability, security, and reliability, making JPM Coin a trusted payment instrument for institutional clients.

By leveraging **Base**, a public blockchain network, JPM Coin transactions are validated on-chain, ensuring transparency and trust, while allowing institutions to transfer funds instantly—anytime, anywhere—without being limited by banking hours or processes.

### Advantages for Institutional Clients

**Speed:**
Traditional bank transfers can be slow, often delayed due to processing times and banking hours. With JPM Coin, payments are settled within seconds, providing near-instant liquidity.

**24/7 Accessibility:**
JPM Coin enables financial operations outside of conventional business hours, empowering institutions to react in real time to changing market conditions.

**Increased Liquidity:**
Quick settlement allows investment funds and businesses to move large sums more efficiently without waiting for banking processes, improving cash flow management.

Overall, JPM Coin reshapes how institutions handle payments, making financial transactions faster, more transparent, and always available.

### Blockchain Adoption in Traditional Finance

The launch of JPM Coin marks a significant step in JPMorgan’s broader strategy to embrace blockchain technology and modernize traditional finance. By using a **public blockchain like Base**, JPMorgan demonstrates confidence in digital asset technology as a way to enhance speed, security, and transparency in financial services.

While JPM Coin itself is not a cryptocurrency like Bitcoin or Ethereum, it showcases how major financial institutions are experimenting with blockchain to improve existing systems rather than replace them.

### Potential Challenges and Considerations

Despite its advantages, JPM Coin faces several challenges:

– **Regulatory Scrutiny:** Digital assets are still under regulatory development worldwide. JPM Coin might be subject to evolving regulations that could impact its adoption and operations.
– **System Integration:** Financial institutions may encounter technical and operational hurdles when integrating blockchain with existing legacy systems.
– **Adoption Scale:** The token’s utility grows with broader acceptance among institutions. Limited uptake could reduce its overall impact and practicality.

It’s also important to note that JPM Coin is primarily a settlement tool and is unlikely to replace traditional banking deposits or services entirely.

### Future Prospects for JPM Coin

JPMorgan plans to initially roll out JPM Coin to its largest institutional clients, with gradual expansion thereafter. Looking ahead, the bank may explore additional features such as:

– **Cross-border transactions**
– **Interest-bearing accounts linked to JPM Coin**
– Further enhancements leveraging blockchain advancements

As more financial institutions observe the benefits of JPM Coin, similar blockchain-based solutions may become more prevalent—potentially transforming how global finance operates.

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**Conclusion**

JPM Coin represents a significant leap forward in integrating blockchain technology with traditional financial systems, offering institutions 24/7 instant settlement backed by the safety of U.S. dollar reserves. Though challenges remain, its launch signals growing crypto technology adoption in mainstream finance, paving the way for faster, more efficient institutional payments in the future.
https://coincentral.com/jpm-coin-enables-24-7-instant-payments-for-institutional-clients/

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

Posted on 11/11/2025 by admin

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?]*

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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/

‘Perfect Storm’ of Catalysts Aligns for Crypto Bull Run

Posted on 11/11/2025 by admin

A “Perfect Storm” of Bullish Catalysts Aligns for the Crypto Market

A constellation of fundamental, bullish catalysts is converging to set the stage for a significant rally in the crypto market. Both macroeconomic and structural factors are contributing to this momentum, suggesting that the next phase of the crypto bull run may be imminent.

**Macro Catalysts: Government Reopening and Fed Policy Shift**

The recent passage of the US Senate funding bill marks a critical step toward ending the longest government shutdown in US history. Passed by a 60-40 vote—with eight Democrats breaking ranks to join Republicans—the bill paves the way for a full reopening of government agencies and offices. This development is expected to restore stability and confidence in the broader economic landscape.

On the monetary policy front, the US Federal Reserve is signaling a shift toward easing. Governor Stephen Miran advocated for an interest rate cut in December as a proactive measure to counter potential economic softening. Additionally, the Fed has confirmed it will end Quantitative Tightening (QT) in December and initiate Quantitative Easing (QE) starting in Q1 2026. These moves typically inject liquidity into the markets, providing a favorable environment for risk assets like cryptocurrencies.

**Structural Catalysts: Regulatory Clarity and Altcoin ETF Surge**

Beyond macro factors, significant structural developments are enhancing the crypto market’s outlook. A recently released draft of the Crypto Market Structure Bill aims to grant the Commodity Futures Trading Commission (CFTC) oversight powers over the crypto industry. By shifting regulatory authority away from the SEC, the bill is expected to reduce uncertainties and foster greater confidence among market participants and crypto operators.

Another bullish structural indicator is the pipeline of 155 pending altcoin ETFs awaiting approval. The analyst highlights that following the US government’s reopening, these ETF applications are likely to receive increased attention. Approval of multiple altcoin ETFs could unlock substantial inflows from institutional investors, boosting demand and providing additional fuel for the crypto rally.