Market Signal Briefing

Spot gold edged higher. Expectations of a rate cut is rising following dovish comments from policymakers, ANZ said.

In a case of exquisite timing, the company released a highly encouraging financial update.

What a difference a day can make in the cryptocurrency world. On Wednesday, following a several days-long rout, digital coins and tokens staged an impressive comeback. Swept along with this were a great many cryptocurrency stocks.

Happily for CleanSpark (CLSK +13.79%) and its investors, the eagerly diversifying Bitcoin (BTC +3.56%) miner was among these titles. Fueled by the general crypto sentiment, plus an encouraging earnings report, the company's shares notched a nearly 14% price gain on the day.

Big gains in 2025
Just after market close Tuesday, CleanSpark published its full-year fiscal 2025 results, which it described as "transformative."

Image source: Getty Images.

That's hype, but still the company posted some encouraging numbers. The year saw it collect just over $766 million in revenue, which was double and then some the $379 million of the previous annual figure. Net income according to generally accepted accounting practices (GAAP) was $364.5 million ($1.25 per share), quite an improvement over the 2024 loss of $145.8 million.

Although it's making a concentrated push deeper into the data center segment, CleanSpark is still heavily associated with its Bitcoin mining operations. The company reported it held $1.2 billion worth of the coin at the end of fiscal 2025.

Today's Change

(

13.79

%) $

1.63

Current Price

$

13.45

A good day to release good news
Timing was definitely on CleanSpark's side on Wednesday, as Bitcoin blasted higher that morning, vaulting above the $90,000 level in the afternoon and (as of this writing, at least) staying there. Many crypto-heads clearly felt the leading coin (and others) were oversold and piled in, while hopes keep rising for a Federal Reserve (Fed) rate cut next month; such adjustments usually benefit cryptos.

While CleanSpark's results were impressive in many ways, to me, the jury is still out on its diversification efforts. Other cryptocurrency companies are making similar moves to expand their data center businesses, and so far, it's too early to judge which ones will be successful and to what extent. Given that, I think CleanSpark is a stock for dedicated crypto bulls only.

Stellar’s XLM continued its steady upward momentum through Tuesday’s trading session, supported by strong technical signals and a banking-sector catalyst that boosted investor confidence. The token moved within a tight $0.0132 range yet still posted 5.4% intraday volatility, showing controlled but persistent buyer interest. Momentum picked up late Monday around 15:00 UTC when XLM saw an unusually heavy influx of volume, with 38 million tokens traded—well above the 24-hour average of 21.7 million. Overall trading activity ended the session roughly 45% higher than normal, a surge that helped propel XLM decisively past the key $0.2460 resistance level.

The bullish impulse aligned with reports that U.S. Bancorp, the fifth-largest bank in the U.S., has chosen Stellar’s blockchain for institutional stablecoin testing. This development strengthened market sentiment by signaling increasing enterprise-level interest in Stellar’s network. Volume behavior also supported the rally, especially during the 07:00–09:00 UTC breakout window, where activity patterns suggested clear institutional participation. Even minor pullbacks held comfortably above rising support levels, reinforcing the strength of the ascending trend.

Late-session trading added to the upward pressure, with XLM climbing from $0.2495 to $0.2522 in the final hour as volumes exceeded 850,000 tokens. A sharp push between 13:37 and 13:42 UTC confirmed the token’s move above the psychological $0.2500 mark, a level traders had been watching closely.

Technical conditions remain favorable for continuation. Primary support tracks along an ascending trendline connecting the overnight lows, while resistance at $0.2500 has now been cleared. Traders are eyeing the next cycle high target at $0.2556, with immediate support anchored around the $0.2495 breakout point. The consistent volume surge, trend structure, and controlled consolidation all point to ongoing accumulation rather than speculative spikes, suggesting XLM may retain its bullish bias in the sessions ahead.

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Ethereum continues to trade below the critical $3,000 level as selling pressure intensifies and fear dominates sentiment across the crypto market. The broader downturn has pushed ETH nearly 40% below its August all-time high, raising concerns that the asset may be entering a prolonged bearish phase. Analysts who were once confident in a continued rally are now shifting their tone, warning that market structure, volatility, and liquidity conditions are beginning to resemble early-stage bear market behavior.

At the same time, investor confidence is being further tested by fresh on-chain activity showing large holders reducing exposure. According to data from Lookonchain, an Ethereum ICO participant has sold another 20,000 ETH, valued at approximately $58.14 million, through FalconX just a few hours ago.

Ethereum ICO Whale Transactions | Source: Lookonchain
With selling pressure accelerating, derivatives sentiment weakening, and long-term holders beginning to reduce positions, Ethereum now sits at a pivotal moment. Bulls must reclaim the $3,000 region to stabilize momentum, while bears argue that a deeper correction could unfold if support continues to erode.

ICO Whale Selling Raises Pressure as Ethereum Awaits Direction
According to Lookonchain, the wallet behind the latest sale — identified as address 0x2eb0 — is no ordinary holder. This Ethereum OG received 254,908 ETH during the ICO, paying just $79,000 at the time. At today’s prices, that allocation is worth roughly $757 million, highlighting the scale of unrealized gains still held by early participants. The recent sale of 20,000 ETH suggests that even long-standing holders with substantial profit cushions are beginning to offload coins, adding to the already fragile market environment.

Ethereum ICO Whale original holdings | Source: Lookonchain
This selling activity is particularly impactful given the current sentiment. Ethereum has already fallen sharply from its highs, leverage has unwound across derivatives markets, and retail confidence has thinned. When an early participant with a cost basis near zero begins distributing, it sends a psychological signal that further downside is possible. Yet, some analysts argue that these sales may simply represent portfolio rotation rather than a long-term bearish stance.

The coming days will be decisive, as investors watch whether Ethereum can stabilize and rebound or if selling pressure accelerates. A recovery above $3,000 could revive optimism and reset momentum, while continued weakness risks confirming a deeper downtrend for both ETH and the broader market.

Breakdown, Weak Structure, and Fragile Bounce Attempt
Ethereum’s weekly chart reveals a clear deterioration in trend structure following the sharp rejection from the $4,400 region and the subsequent breakdown below the $3,200 support zone. The selloff pushed ETH toward the mid-$2,700s before a modest rebound, but the price remains below key moving averages, signaling that momentum continues to favor sellers.

ETH testing key demand level | Source: ETHUSDT chart on TradingView
The 50-week moving average has rolled over, while the 100-week and 200-week moving averages now sit overhead, forming layered resistance that could cap any recovery attempts in the short term.

Volume during the decline expanded noticeably, indicating active distribution rather than passive drifting. The most recent candle shows a small bounce, but with no strong volume follow-through, suggesting hesitation and lack of conviction among buyers.

For Ethereum to regain bullish structure, reclaiming the $3,000–$3,200 area is essential, as this zone acted as a pivotal support throughout earlier phases of the cycle and now threatens to flip into resistance.

Featured image from ChatGPT, chart from TradingView.com

In an ambitious move by the Solana development team, a proposal has been put forward to significantly cut the inflation rate of SOL, potentially lowering its issuance by as much as 30%. Slated for discussion and review by the community, this proposal could redefine the economic dynamics of the Solana blockchain.

Thailand orders Worldcoin to halt operations and delete user data following data protection violations and iris scan concerns.

MON has continued its upward trajectory, gaining significant attention after Monad successfully launched its mainnet on November 24. The milestone has boosted confidence in the project, with the network’s enhanced efficiency, improved scalability, and clear development roadmap helping drive demand for the native token.

The broader crypto market has also strengthened, rising 3.37% in the past 24 hours despite a 7-day decline. Bitcoin climbed past $89,000, while Ethereum surged above $3,000, helping fuel optimism across major altcoins, including XRP and Solana.

Monad’s mainnet launch marked a major evolution for the project. Alongside the rollout, Monad executed its token generation event, releasing 10% of its fixed 100 billion total supply. Interest soared immediately, with the number of MON holders tripling within 24 hours. This rapid adoption underscores growing trust in the network, as new users and investors seek early exposure to the growing ecosystem. Since launch, the blockchain has already processed over 2 million transactions, signaling strong network activity.

MON’s price has reacted positively to the momentum. After hitting a high near $0.05, the token is currently trading at $0.04705, holding firmly above the key $0.047 support level with a 20% daily gain. Its rising utility and growing user base have positioned MON as one of the week’s standout performers. Analysts note that MON’s lack of a major exchange listing—such as Binance—has contributed to more organic price action, allowing the token to avoid volatility typically seen after high-profile listings.

Looking ahead, bullish sentiment continues to build. If demand remains strong, MON could break through the $0.05 resistance and potentially climb toward the $0.10 target some analysts are forecasting. However, a pullback remains possible; if the price falls below $0.040, MON could revisit lower support near $0.035.

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Ripple’s RLUSD stablecoin continues its rapid growth, with fresh data from the Ripple Stablecoin Tracker showing another 10 million RLUSD minted on the XRP Ledger. According to CoinGecko, the stablecoin’s market capitalization now stands at approximately $1.26 billion, marking a significant milestone as RLUSD cements itself among the fastest-growing USD-pegged assets.

The pace of minting activity has accelerated notably over the past several weeks. On Oct. 22, Ripple’s treasury issued 24.5 million RLUSD, kicking off a wave of substantial mints. Just six days later, another 5 million RLUSD entered circulation, followed by a major issuance of 36 million RLUSD on Oct. 31. This steady output set the stage for November’s surge.

On Nov. 3, Ripple minted a massive 50 million RLUSD, coinciding with RLUSD surpassing the $1 billion market cap threshold across both Ethereum and the XRP Ledger. The momentum continued through the month, including a 2 million RLUSD mint on Nov. 19 and a recent 15 million RLUSD issuance on Nov. 25. These milestones highlight Ripple’s growing commitment to expanding the supply of RLUSD amid rising demand.

With a current valuation hovering near $1.25 billion, RLUSD has quietly risen into the upper ranks of mid-tier stablecoins. It now sits near long-established competitors and holds the position of the 12th-largest USD stablecoin globally. While it has not yet reached the multi-billion-dollar club dominated by tokens like USDT, USDC, DAI, PYUSD, and Ethena’s USDe, RLUSD has firmly secured a leading spot in the third tier. Ripple’s stablecoin now ranks around #84 by global cryptocurrency market cap, surpassing several legacy dollar-backed tokens such as TUSD, GUSD, and USDD.

As Ripple continues to scale RLUSD supply and adoption, the stablecoin’s swift trajectory suggests it may soon challenge the second tier of major competitors—positioning RLUSD as a rising force in the highly competitive stablecoin ecosystem.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

A new challenger to Ethereum and Solana has just gone live, and it's already drawing attention across the crypto space.Monad, a high-speed Layer 1 blockchain, has officially launched its mainnet after nine months of testing in a controlled environment.

Securitize has secured full regulatory approval to operate as both an Investment Firm and a Trading & Settlement System (TSS) in the European Union, setting the stage for a new onchain market infrastructure built atop Avalanche.

A massive shift in whale activity may be signaling trouble ahead, putting the Pepe price prediction back in focus as fear grips the market.Whales have started moving large volumes of PEPE to exchanges, a classic red flag that a sell-off could be near.

On November 26, 2025, Tether, the issuer of the widely-used stablecoin USDT, strongly contested S&P Global Ratings' decision to downgrade its stability assessment to the lowest tier. This move has sparked a debate over the accuracy of the criteria used by the rating agency and the implications for the broader stablecoin market.

After a sharp sell-off across the market, $XRP has finally shown strength, bouncing cleanly from the major support at $1.80, a level that has previously acted as a strong demand zone. The chart now shows XRP trading at $2.23, right inside a critical consolidation area that will decide the next major move.

This recovery is not random — it lines up perfectly with both structural support and oversold conditions on momentum indicators. Now traders are watching whether XRP can reclaim the next resistance or fail and retest lower levels.

XRP/USD price over the past week - TradingView

XRP Price Analysis: What the Chart Really ShowsThe 2H chart provides a very clear structure.

XRP/USD 2-hour chart - TradingView

1. Strong Reversal From $1.80XRP wicked into the $1.80 zone, a level that previously triggered multiple strong reactions.Buyers aggressively defended it, pushing XRP back above $2 quickly.This confirms $1.80–$2.00 as the dominant support block.2. Clean Climb Back Into Mid-RangeAfter the bounce, XRP rallied straight back into the $2.20–$2.25 consolidation zone.This area acted as support earlier but now functions as a flip zone, meaning it could either help XRP break higher or reject the move.This is exactly where momentum usually pauses before a breakout.3. Stochastic RSI Signals Momentum ShiftThe Stoch RSI recovered from oversold levels and spiked upward again.This suggests short-term bullish momentum, but also warns that XRP may cool off before breaking higher.

XRP Price Prediction: What Comes Next for XRP Price?Based on structure, momentum, and previous reactions, XRP’s next steps are straightforward.

✅ Bullish Scenario (Likely if XRP holds above $2.20)Break and close above $2.30
→ Short-term bullish continuations

Next major target: $2.50
This level is heavy resistance, but reaching it is realistic if market sentiment remains strong.

❌ Bearish Scenario (If XRP loses $2.20 again)If XRP fails to break out and momentum slows:

A retest of $2.10 becomes likelyIf market weakness continues, price may drop again into $2.00Worst case: a return to the strong support at $1.80The bullish structure remains valid as long as XRP stays above $2.00.

In brief
Economist Paul Krugman said in a blog post that Bitcoin is suffering as President Trump's popularity plunges.
Trump campaigned on helping the digital asset space, and has become closely linked to Bitcoin.
The Nobel Prize-winning Krugman has long criticized Bitcoin—and this time is no different.
President Trump's return to office and embrace of cryptocurrency was credited by many for Bitcoin's surge to new highs earlier this year—and according to Nobel Prize-winning economist Paul Krugman, the American leader deserves the blame for Bitcoin's recent decline, too.

In a Substack piece this week entitled "The Trump Trade is Unraveling," Krugman, who has long criticized the leading cryptocurrency, wrote that President Donald Trump's plunging polling numbers are having a negative effect on Bitcoin's price.

This is because President Trump campaigned on helping the digital asset industry; a leader who is declining in popularity will therefore impact the price of Bitcoin, argued Krugman. 

"Trump's power is visibly diminishing, so the price of Bitcoin, which has in effect become a bet on Trumpism, has plunged," Krugman's piece read. "Why is Bitcoin a Trump trade? Partly because Trump, whose family has in effect received massive bribes from the crypto industry, has been rewarding that investment with pro-crypto policies.”

He added: "A weakened Trump is less able to work his will on all fronts, including his efforts to promote crypto."

The "Trump trade" refers to how traders have bought the leading cryptocurrency spurred on by President Trump's election win and policy moves. Bitcoin's price soared on the eve of President Trump's victory, and boomed following his inauguration.

President Trump campaigned on a ticket to help to help the digital asset space, and crypto industry bigwigs donated to Trump's campaign. His sons have, albeit controversially, also made money with a number of digital asset-related ventures. 

The president even debuted his own  Solana-based meme coin, Official Trump, just days before he entered the White House. 

But 2025 hasn't been all smooth sailing for Bitcoin and other digital coins and tokens—especially recently—despite the Republican signing pro-crypto laws: The space has suffered more volatility due to the president's trade war, including a record $19 billion in liquidations on October 10 following a threat made against China.

Bitcoin was recently priced at nearly $90,348, according to CoinGecko, after dropping nearly 30% since it notched a new all-time high of $126,080 in October. Experts are now saying the asset could be entering a bear market, though it has regained ground since falling to a seven-month low of nearly $81,000 last week.

Users on Myriad—a prediction market operated by Decrypt's parent company, Dastan—remain optimistic that Bitcoin's next stop is more likely to be a rise to $100,000 than a plunge to $69,000, giving the higher option a more than 70% likelihood as of this writing.

Krugman went on to argue that Bitcoin has failed to find use cases, instead performing much like a more volatile tech stock. 

"What is Bitcoin good for?" he wrote. "It isn't money—that is, it isn't a medium of exchange, something you can use to make payments. It isn't a hedge against inflation."

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Bitcoin’s (BTC) latest upward move arrives at a time when confidence in the market remains uncertain, with many traders unsure whether the slight price recovery marks early strength or another temporary bounce. With last week’s pullback still fresh, a crypto analyst argues that most traders may label the recent recovery a dead cat bounce. However, he believes the narrative is misleading and predicts that Bitcoin’s rebound this week may be setting the stage for a stronger rally. 

Why The Bitcoin Price Recovery Is Not A Dead Cat Bounce
Market analyst and founder of The House of Crypto, Peter Anthony, has released a new technical analysis of Bitcoin that challenges the prevailing bearish sentiment among traders. In his post on X, Anthony stated that the repeated claims of a dead cat bounce are part of a recurring pattern that has appeared at multiple stages of previous Bitcoin price recoveries. 

He explained that market sentiments have swung so far into fear that many traders may have already locked in their worst losses just as the market began to recover. According to his analysis, last week’s BTC sell-off and price crash prompted many participants to exit their positions near the bottom. Now that the cryptocurrency is recovering, the analyst believes those same traders will hesitate to re-enter the market, convinced that the recent rebound is nothing more than a dead cat bounce. 

In his chart, Anthony highlighted several instances in the past when similar skepticism emerged after Bitcoin continued trending higher following a downturn. The analyst expects this pessimistic behavior to persist, stating that traders may continue labeling every upward push a dead cat bounce until BTC reaches $100,000 and beyond. This suggests that investors might interpret each step higher as a warning sign that the price rally is only temporary and bound to fail. 

Source: X
While he believes the underlying trend is bullish, Anthony has acknowledged that a correction could still emerge as Bitcoin approaches previous highs. However, he reassures that the routine pullback would not negate the broader recovery underway. 

The analyst’s report indicates that the dead cat bounce narrative will prove to be a false signal. He predicts that disbelief in the market will eventually give way to Fear of Missing Out (FOMO) once Bitcoin decisively moves above $115,000. At that point, Anthony forecasts that many traders who sold during the downturn will scramble to buy back in at higher levels, completing a cycle of selling low and buying high. 

BTC Could Hit $115,000 Before Skeptics Turn Bullish
In a follow-up post, Anthony issued a sharp critique of the emotional trading patterns and bearish sentiment dominating the crypto market. According to him, many of these traders who insist the Bitcoin rally has ended will continue to call every upward move a dead cat bounce, even as the price advances. 

By the time Bitcoin hits $115,000, the analyst expects investor sentiment to shift abruptly, triggering a late surge of bullishness from traders who had doubted the initial recovery. Anthony argues that these sudden changes in viewpoint will have little to do with careful analysis and everything to do with watching the chart move and reacting afterward. 

BTC continues moving above $87,000 | Source: BTCUSD on Tradingview.com
Featured image created with Shedevrum, chart from Tradingview.com

LUNC hangs on a cliff: abnormalities in the staking ratio scare off investors just weeks after Kraken's delisting.

Strategy is reassuring investors that its towering Bitcoin stash still dwarfs its debt—even as its stock price keeps falling faster than a hardware wallet dropped off a balcony.

Summary

Strategy says its Bitcoin holdings far exceed its debt, claiming a 5.9x asset-to-liability ratio at its average purchase price and a 2.0x ratio even in a severe crash.
The firm’s stock has slumped, leading to its removal from the S&P 500.
IStrategy’s market valuation is below the value of its own BTC holdings for the first time in five years.

Michael Saylor’s company said its Bitcoin holdings would be worth nearly six times its outstanding convertible notes if the cryptocurrency fell back to Strategy’s average purchase price, a metric it now proudly calls its “Bitcoin Rating.”

Even in a doomsday-level market plunge, Strategy says the ratio would hold at a still-comfortable 2.0x, based on figures compiled by BitcoinTreasuries.

The upbeat math arrives at an awkward moment: Strategy’s share price has tumbled in recent weeks, culminating in its removal from the S&P 500 on November 25.

Adding to the pressure, MSCI is expected to rule early next year on whether companies that hold most of their assets in cryptocurrency should even appear in equity indices. JPMorgan analysts warned the decision could spark forced selling, prompting parts of the crypto community to accuse the bank of attacking Strategy to profit from a supposed short position.

Perera, however, found no evidence of a JPMorgan short in SEC filings—only share sales and some put options.

Institutions aren’t abandoning Bitcoin—just Strategy
Analyst Shanaka Anselm Perera reported that institutional investors pulled significant capital from the company in the third quarter—apparently deciding there are safer ways to gain Bitcoin exposure.

As JPMorgan trimmed its stake, heavyweight players like Harvard University moved into BlackRock’s spot Bitcoin ETF, a shift analysts say helped erase Strategy’s long-standing premium over its underlying Bitcoin.

For the first time in five years, the company’s market cap now sits below the value of its BTC holdings.

Bitwise analyst Matt Hougan noted that crypto-heavy companies typically trade at discounts anyway due to operational costs and perceived risk. Strategy, undeterred, continues scooping up Bitcoin, moving more into custody and raising additional capital to buy even more.

China's homegrown ChatGPT rival, Alibaba's Qwen AI, is signaling a cautious near-term outlook for XRP, Cardano, and Dogecoin, warning that all three could see deeper declines unless sentiment across the crypto market turns decisively positive.The broader market has spent the past month sliding lower, triggering sharp retracements across major assets.

, /PRNewswire/ -- This press release provides shareholders of Cohen & Steers REIT and Preferred and Income Fund, Inc. (NYSE: RNP) (the "Fund") with information regarding the sources of the distribution to be paid on November 28, 2025 and cumulative distributions paid fiscal year-to-date.

In December 2017, the Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. The managed distribution policy seeks to deliver the Fund's long-term total return potential through regular monthly distributions declared at a fixed rate per common share. The policy gives the Fund greater flexibility to realize long-term capital gains throughout the year and to distribute those gains on a regular monthly basis to shareholders. The Board of Directors of the Fund may amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund's shares.

The Fund's monthly distributions may include long-term capital gains, short-term capital gains, net investment income and/or return of capital for federal income tax purposes. Return of capital includes distributions paid by the Fund in excess of its net investment income and net realized capital gains and such excess is distributed from the Fund's assets. A return of capital is not taxable; rather, it reduces a shareholder's tax basis in his or her shares of the Fund. In addition, distributions from the Fund's investments in real estate investment trusts (REITs) may later be characterized as capital gains and/or a return of capital, depending on the character of the dividends reported to the Fund after year-end by REITs held by the Fund. The amount of monthly distributions may vary depending on a number of factors, including changes in portfolio and market conditions.

At the time of each monthly distribution, information will be posted to cohenandsteers.com and mailed to shareholders in a concurrent notice. However, this information may change at the end of the year because the final tax characteristics of the Fund's distributions cannot be determined with certainty until after the end of the calendar year. Final tax characteristics of all of the Fund's distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.

The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year-to-date from the sources indicated. All amounts are expressed per common share.

DISTRIBUTION ESTIMATES

November 2025

YEAR-TO-DATE (YTD)

November 30, 2025*

Source

Per Share Amount

% of Current Distribution

Per Share Amount

% of 2025 Distributions

Net Investment Income

$0.0678

49.86 %

$0.9975

66.68 %

Net Realized Short-Term Capital Gains

$0.0000

0.00 %

$0.0000

0.00 %

Net Realized Long-Term Capital Gains

$0.0000

0.00 %

$0.0000

0.00 %

Return of Capital (or other Capital Source)

$0.0682

50.14 %

$0.4985

33.32 %

Total Current Distribution

$0.1360

100.00 %

$1.4960

100.00 %

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's managed distribution policy. The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.

*THE FUND WILL SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES

The Fund's Year-to-date Cumulative Total Return for fiscal year 2025 (January 1, 2025 through October 31, 2025) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with the Fund's Cumulative Distribution Rate for 2025. In addition, the Fund's Average Annual Total Return for the five-year period ending October 31, 2025 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2025. The performance and distribution rate information disclosed in the table is based on the Fund's net asset value per share (NAV). The Fund's NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's individual investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market.

Fund Performance and Distribution Rate Information: 

Year-to-date January 1, 2025 to October 31, 2025

Year-to-date Cumulative Total Return1

6.33 %

Cumulative Distribution Rate2

7.12 %

Five-year period ending October 31, 2025

Average Annual Total Return3

8.10 %

Current Annualized Distribution Rate4

7.77 %

Year-to-date Cumulative Total Return is the percentage change in the Fund's NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.
Cumulative Distribution Rate for the Fund's current fiscal period (January 1, 2025 through November 30, 2025) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of October 31, 2025.
Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending October 31, 2025. Annual NAV Total Return is the percentage change in the Fund's NAV over a year including distributions paid and assuming reinvestment of those distributions.
The Current Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of October 31, 2025.

Investors should consider the investment objectives, risks, charges and expense of the Fund carefully before investing. You can obtain the Fund's most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange Commission's EDGAR Database. You should read these reports and other filings carefully before investing.

Shareholders should not use the information provided here in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.

Forward-Looking Statements
This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.

Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Website: https://www.cohenandsteers.com/
Symbol: (NYSE: CNS)

SOURCE Cohen & Steers, Inc.

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Marex Group plc (NASDAQ: MRX) between May 16, 2024 and August 5, 2025, both dates inclusive (the "Class Period"), of the important December 8, 2025 lead plaintiff deadline.

So what: If you purchased Marex securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Marex class action, go to https://rosenlegal.com/submit-form/?case_id=43100 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 8, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, during the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Marex sold over-the-counter financial instruments to itself; (2) Marex had inconsistencies in its financial statements between its subsidiaries and related parties, including as to intercompany receivables and loans; (3) as a result of the foregoing, Marex's financial statements could not be relied upon; and (4) as a result of the foregoing, defendants' positive statements about Marex's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Marex class action, go to https://rosenlegal.com/submit-form/?case_id=43100 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

LOS ANGELES--(BUSINESS WIRE)--Stride, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights – LRN.

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Journalist

Posted: November 27, 2025

Key Takeaways 
What change are Solana developers proposing?
A new proposal, SIMD-0411, would double Solana’s annual disinflation rate and reduce token issuance over the next several years.

Why does this matter for SOL investors and validators?
Lower issuance may improve long-term supply scarcity, but it also reduces staking yields. It has raised concerns about validator incentives and network security.

Solana developers have introduced a new proposal to overhaul the network’s inflation schedule. This change could accelerate the chain’s move toward lower token issuance and reshape staking economics across the ecosystem. 

If adopted, the proposal, known as SIMD-0411, would reduce SOL supply growth more aggressively, cutting annual issuance by 20–30% over the next several years.

The proposal, published in the Solana Foundation’s official improvement repository, aims to double the rate of Solana’s annual disinflation. 

Instead of reducing inflation by 15% each year, the network would cut it by 30% annually until it reaches its long-term terminal inflation target of 1.5%.

What the proposal changes
Under current parameters, Solana is expected to reach its terminal inflation rate around 2032. With the new model, that date moves forward by nearly three years, arriving as early as 2029.

Modeling from the proposal estimates that the network would avoid minting around 22.3 million SOL between now and 2031 — the equivalent of nearly $3 billion at current market prices.

In practical terms, this reduces the amount of new SOL flowing into circulation each year, lowers staking yields gradually over time, and aligns Solana’s supply curve more closely with those of “low-inflation, high-usage” networks, such as Ethereum.

Community sees both benefits and risks
Supporters of the proposal argue that Solana’s current inflation schedule creates persistent downward pressure on the token, especially during periods of weak demand. 

With ETFs absorbing more SOL than expected in recent weeks, many believe a faster move toward low inflation could reinforce long-term supply scarcity.

They also note that rising network activity, especially in stablecoin transfers, payments, and memecoin trading, means Solana can rely more on fee revenue, and less on high issuance, to reward validators.

But not everyone agrees.

Validator operators warn that sharply reducing inflation could disrupt the economic incentives that support the network’s security. 

Staking yields would fall from roughly 6% today to 5% in year one, 3.5% in year two, and just over 2% by year three. Some caution that lower yields may encourage smaller validators to exit, thereby raising concerns about centralization.

At this stage, the proposal has not been approved. It must still pass community review, validation testing, and a network-wide governance process.

A significant moment for Solana’s monetary policy
If adopted, SIMD-0411 would represent Solana’s most consequential tokenomics adjustment since launch. 

With ETF inflows rising and supply issuance under review, Solana is entering a key period where economic design, security costs, and long-term sustainability all converge.

Whether validators choose to prioritize scarcity or staking yield stability will determine the future shape of SOL’s monetary policy, and possibly its market trajectory heading into 2026.

Bitcoin surpassed $90,000 on Wednesday and held the breakout, despite volatility across the broader crypto market.

Summary

Technical indicators show BTC trading below key moving averages, suggesting the broader trend remains under pressure, according to chart analysis.
Market observers report that short-term buying pressure has not been sufficient to sustain breakouts above resistance levels.
The cryptocurrency market remains in a reactive trading phase

Price advances followed by rapid reversals
Technical indicators show Bitcoin (BTC) trading below key moving averages, suggesting the broader trend remains under pressure, according to chart analysis.

Source: CoinGecko
The 14-day Relative Strength Index indicates the cryptocurrency is recovering from recent declines, though analysts note volatility remains elevated.

Market observers report that short-term buying pressure has not been sufficient to sustain breakouts above resistance levels. Profit-taking activity has increased following recent price advances, limiting upward momentum.

Bitcoin demonstrates signs of stabilization
Bitcoin declines are meeting support at established price zones. The cryptocurrency has also attracted buying interest at lower levels multiple times this week, according to trading data.

Analysts state that Bitcoin would need to close above key moving averages with sustained volume to establish a confirmed uptrend. Until such conditions materialize, rallies are expected to face resistance at psychological price levels.

The cryptocurrency market remains in a reactive trading phase characterized by sharp price movements in both directions, according to market participants.

S&P Global Ratings has downgraded Tether’s flagship stablecoin USDT to the lowest level on its stablecoin stability scale, warning that the token’s growing exposure to high-risk assets like Bitcoin and persistent gaps in reserve transparency could threaten its ability to maintain its U.S. dollar peg. The updated assessment, released Wednesday, lowers USDT’s stability score to 5 — categorized as “weak” — from its previous score of 4 issued in December 2023.

According to S&P, Bitcoin now represents roughly 5.6% of USDT’s reserves, surpassing its 3.9% overcollateralization buffer. Analysts cautioned that a sharp decline in BTC or other volatile holdings could push the stablecoin into an undercollateralized state. Beyond Bitcoin, Tether’s reserve mix still includes gold, corporate bonds, secured loans and additional risk-bearing assets. The agency emphasized ongoing concerns surrounding limited disclosure about how these holdings are valued and the financial health of institutions safeguarding them.

Tether rejected S&P’s conclusions, arguing that the rating framework is outdated and fails to reflect the “resilience, transparency and global utility” of USDT as digitally native money. Despite recurring debates and “Tether FUD” over the years, S&P acknowledged that USDT has consistently maintained its dollar peg, even as scrutiny has intensified.

USDT remains the world’s largest stablecoin with a market capitalization exceeding $180 billion and plays a critical role in global crypto trading, particularly in emerging markets where access to U.S. dollars is often restricted. Tether’s latest disclosures indicate that 77% of reserves are held in U.S. Treasuries and cash-like assets. However, secured loans — which Tether previously pledged to phase out by the end of 2023 — still accounted for 8% of reserves, valued at more than $14 billion as of September 2025, according to an attestation by BDO Italy.

New U.S. regulations under the GENIUS Act now require stablecoin issuers to maintain 1:1 backing using short-term Treasuries and other highly liquid instruments, raising further questions about whether Tether’s reserve composition aligns with the evolving regulatory landscape.

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