News

Jinse Finance reported that in response to Jupiter community member @MINHxDYNASTY's post praising "Jupiter for changing the 30-day staking unlock period to 7 days, DAO downsizing, and other major changes," Jupiter co-founder meow responded on X, saying, "That's right, thank you very much for your message — your judgment is 90% accurate. The past few months have indeed been particularly tough, but as you said, sometimes you have to seriously examine what isn't working and then readjust your strategy. I want to say, the problem is not that things were considered 'after the fact,' but rather that we really tried too many directions, and these attempts did not bring synergistic development to the product and community. Regarding this token burn, I personally feel deeply regretful, but for token holders, it is an important gesture to restart the relationship between both parties. I am also saddened by the community restructuring, but it is also a necessary task to push forward — however, I should have thanked you properly a long time ago. Looking ahead, we need to create a highly synergistic virtuous cycle between token holders, product growth, and community development. Currently, I am close to finishing a lot of work on team operations and product strategy — going forward, these two areas will be my main focus."

Jinse Finance reported that Sarah Breeden, Deputy Governor of the Bank of England, stated that the UK government is likely to keep pace with the United States in the regulation of stablecoins, emphasizing that it is "crucial" for these two allies to achieve coordination on regulatory rules for this $310 billions industry. Breeden said at the SALT conference in London on Wednesday that the UK will implement a stablecoin regulatory framework "as quickly as the United States"—a statement that dispelled concerns about the UK lagging behind in this area, especially after the US passed the landmark GENIUS Act in July. This statement further advances the previous momentum of cooperation. In September this year, UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent held a meeting, during which the two countries agreed to strengthen coordination on crypto and stablecoin-related activities. The background of this meeting is that several UK crypto advocacy organizations had previously called on the UK government to adopt a more open attitude towards the crypto industry, claiming that the current policy stance has caused the country to fall behind in industry innovation and regulatory policy.