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JPMorgan CFO Warns against Stablecoin Yield Products
JPMorgan CFO Jeremy Barnum criticized stablecoin yield offerings, arguing they resemble bank deposits without equivalent regulatory safeguards.
JPMorgan Chase CFO Jeremy Barnum warned that stablecoin yield products pose systemic risks, describing them as an attempt to replicate core banking functions without comparable regulation. Speaking during the bank’s fourth-quarter earnings call, Barnum said interest-bearing stablecoins resemble deposits but lack the prudential safeguards developed through decades of bank oversight.
His comments come as lawmakers debate limits on stablecoin yield in updated crypto market structure legislation. A recent Senate draft would restrict issuers and platforms from directly offering yield unless returns are tied to activities such as staking or transaction-based services. Banks have pushed for tighter constraints, arguing that yield-bearing stablecoins could draw deposits away from the regulated banking system.
Barnum said JPMorgan remains open to competing with crypto products where customer demand exists but questioned whether stablecoin yield meaningfully improves consumer outcomes. He added that if crypto offerings gain traction, banks may respond by enhancing their own services rather than ceding ground to lightly regulated alternatives.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
YZi Labs Backs DeFi Trading Terminal Genius
Changpeng Zhao’s YZi Labs made an eight-figure investment in Genius Trading, underscoring rising demand for execution-focused infrastructure in decentralized markets.
YZi Labs, the investment firm led by Binance founder Changpeng Zhao, has made an eight-figure investment in onchain trading terminal Genius Trading, signaling growing institutional focus on execution infrastructure as decentralized trading activity expands across blockchains. Zhao will also join the company as an advisor.
Genius Trading operates as a cross-chain execution interface rather than a decentralized exchange, aggregating liquidity and routing trades across multiple blockchains and venues. The platform has processed more than $160 million in volume across ten blockchains ahead of its public launch, offering spot trading, perpetual futures, and copy trading tools aimed at active and professional traders.
The investment reflects a broader shift in DeFi toward workflow, routing, and execution quality as trading fragments across networks. As more volume migrates from centralized exchanges to decentralized venues, firms are prioritizing infrastructure that helps manage transparency, slippage, and cross-chain complexity, positioning trading terminals as core market plumbing rather than consumer-facing add-ons.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Polygon Buys Coinme, Sequence in $250M Payments Push
Polygon Labs agreed to acquire Coinme and Sequence in deals valued above $250 million, strengthening its regulated stablecoin payments infrastructure.
Polygon Labs has agreed to acquire crypto payments firm Coinme and wallet infrastructure provider Sequence in transactions valued at more than $250 million. The deals give Polygon access to Coinme’s US money-transmitter licenses and fiat on- and off-ramps, alongside Sequence’s embedded wallets and cross-chain payments tooling for enterprises.
The acquisitions form the foundation of Polygon’s planned “Open Money Stack,” which aims to combine blockchain settlement, regulated money movement, and wallet infrastructure into a unified payments platform. Coinme operates cash-to-crypto kiosks and ATMs across most US states, while Sequence focuses on reducing friction through embedded wallets and automated cross-chain execution.
The move comes as competition intensifies around stablecoin-based payments following clearer US regulatory frameworks. Payments firms, fintechs, and blockchain networks are positioning to support tokenized dollars at scale, with Polygon seeking to serve as an infrastructure partner rather than a direct competitor to established payment processors.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Bitwise Pushes Back on Bitcoin Limits in 401(k) Plans
Bitwise CIO Matt Hougan criticized restrictions on Bitcoin in 401(k) plans as US Senator Elizabeth Warren pressed the SEC on retirement risk oversight.
Bitwise chief investment officer Matt Hougan criticized resistance to Bitcoin inclusion in 401(k) retirement plans, arguing that volatility alone is not a valid reason to restrict access. Hougan said Bitcoin’s recent price swings compare favorably with those of major equities, noting that some widely held technology stocks have experienced larger fluctuations without regulatory limits.
The remarks came as Senator Elizabeth Warren pressed the Securities and Exchange Commission for clarity on how it would protect retirement savers if crypto assets are allowed in defined-contribution plans. Warren warned that crypto exposure could introduce higher fees, market manipulation risks, and volatility that may undermine long-term retirement security.
The debate follows an executive order signed last year directing the Labor Department to reassess restrictions on alternative assets in 401(k) plans. While federal agencies have adopted a more neutral stance, the issue highlights broader tensions between investor protection priorities and efforts to integrate digital assets into traditional retirement frameworks.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Senate Panel Delays Crypto Market Structure Bill Markup
The US Senate Agriculture Committee delayed markup of a major crypto market structure bill, citing the need for additional bipartisan support.
The US Senate Agriculture Committee has delayed its planned markup of a crypto market structure bill until the final week of January, as lawmakers seek additional time to secure bipartisan backing. Committee Chairman John Boozman said discussions have been constructive but unresolved details require further negotiation before advancing the legislation.
The bill is closely watched by the crypto industry because it would clarify regulatory jurisdiction between the Securities and Exchange Commission and the Commodity Futures Trading Commission. While the Senate Banking Committee is still expected to proceed with its own markup, the Agriculture Committee oversees the CFTC and plays a central role in shaping derivatives and digital asset oversight.
Ongoing debates include restrictions on stablecoin yield payments, ethics provisions addressing conflicts of interest for public officials, and the treatment of software developers and non-custodial platforms. The delay highlights the complexity of building consensus on crypto regulation amid broader political and institutional uncertainty.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Eric Adams Faces Scrutiny after NYC Token Liquidity Pull
Former New York City Mayor Eric Adams is facing criticism after a token he promoted saw a rapid liquidity withdrawal, triggering accusations of a potential rug pull.
Former New York City Mayor Eric Adams is under scrutiny from crypto market participants after a memecoin he promoted, known as NYC Token, experienced a significant liquidity withdrawal shortly after launch. On-chain data showed that a wallet linked to the token’s deployer removed roughly $2.5 million in USDC liquidity near the token’s price peak.
The token was unveiled at a Times Square event and marketed as a crypto initiative tied to civic causes. Its market capitalization briefly surged to about $580 million before falling sharply as liquidity was pulled. Blockchain analytics firms later indicated that only part of the liquidity was returned after prices had already dropped significantly.
The episode has renewed concerns around memecoin launches involving public figures, particularly regarding transparency, token economics, and investor protections. The incident underscores ongoing regulatory and reputational risks in crypto markets, as officials and institutions continue to assess how public endorsements can influence retail trading behavior.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Crypto Funds See $454M Outflows as Fed Rate-Cut Hopes Wane
Crypto investment products experienced $454 million in outflows last week, driven largely by Bitcoin and U.S. funds amid fading expectations for a Federal Reserve rate cut.
Crypto exchange-traded products (ETPs) posted $454 million in net outflows last week, according to CoinShares, reversing part of the $1.5 billion inflows seen in the first two trading days of 2026. Analysts attributed the decline to diminishing investor expectations for a Federal Reserve interest rate cut in March, following recent US macroeconomic data. Month-to-date flows remained positive at $229 million, highlighting the volatility in early-year investor sentiment.
Bitcoin led withdrawals with $405 million in outflows, while short-BTC products saw minor exits of $9 million, indicating mixed sentiment toward the top cryptocurrency. Ether funds reported $116 million in outflows, and multi-asset altcoin products shed $21 million. Conversely, select altcoins, including XRP, Solana, and Sui, posted modest inflows of $46 million, $33 million, and $8 million, respectively, reflecting targeted investor interest in non-Bitcoin digital assets.
The US was the primary source of outflows, totaling $569 million, while European markets, including Germany, Canada, and Switzerland, posted combined inflows exceeding $100 million. Institutional flows were concentrated, with BlackRock’s iShares and Profunds Group leading inflows at $181 million and $180 million, respectively, while Fidelity and Grayscale saw significant redemptions of $454 million and $360 million. Crypto ETP assets under management ended the week at $181.9 billion, marginally above the prior week, indicating relative stability despite short-term outflows.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Dubai Bans Privacy Tokens and Tightens Stablecoin Rules
Dubai’s DFSA has banned privacy tokens and redefined stablecoin rules, shifting crypto asset approval responsibility to licensed firms within the DIFC.
The Dubai Financial Services Authority (DFSA) has prohibited privacy tokens, such as Monero and Zcash, across the Dubai International Financial Centre, citing anti-money laundering (AML) and sanctions compliance risks. The ban applies to trading, promotion, fund activity, and derivatives linked to privacy coins. The DFSA emphasized that privacy features, which obscure transaction history and holders, prevent firms from meeting Financial Action Task Force (FATF) requirements. Regulated entities are also barred from using mixers, tumblers, or other obfuscation tools.
The DFSA revised its framework for stablecoins, defining “fiat crypto tokens” as those pegged to fiat currencies and backed by high-quality, liquid assets capable of meeting redemption demands under stress. Algorithmic stablecoins, such as Ethena, would no longer qualify as stablecoins but remain tradable as general crypto tokens. The rules align Dubai’s approach with international regulators that prioritize asset quality, transparency, and liquidity in stablecoin classifications.
The updated framework transitions token approval responsibility from the regulator to licensed firms. Companies must now assess token suitability, document decisions, and maintain ongoing reviews. DFSA officials described this approach as reflecting market maturity and international norms, emphasizing accountability and compliance over supervisory endorsement. The framework encourages firms to manage risks associated with crypto listings while ensuring traceability and adherence to global standards.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Adam Back-Backed Future Holdings Eyes Takeover by H100
Swiss Bitcoin treasury firm Future Holdings, backed by Adam Back, has agreed to preliminary terms for acquisition by Sweden-listed H100 Group as it expands into Switzerland.
Future Holdings AG, a Swiss-based Bitcoin treasury company co-founded by cryptography pioneer Adam Back, has signed a non-binding letter of intent with Sweden-listed H100 Group for a full acquisition. The transaction values Future at roughly 600,000 Swiss francs ($753,000), including the company’s cash balance, with payment expected in newly issued H100 shares at the closing price. Richard Byworth, chairman of Future Holdings, said the combination provides a public-market platform and governance framework critical for institutional credibility in Switzerland.
Future Holdings launched in November 2025, raising $35 million for its Bitcoin treasury, and has been supported by Back via a $2.1 million convertible loan, with an option for an additional $12.8 million. The deal is part of H100’s broader strategy to expand beyond the Nordic region and establish a leading Bitcoin treasury and financial platform across Europe.
Completion of the transaction is expected in January 2026, subject to due diligence, regulatory approvals, and definitive agreements. Analysts view the H100-Future combination as a strategic move to provide a European base for institutional Bitcoin allocation and capital management.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Bitcoin Holds Steady amid DOJ Probe of Fed Chair
The DOJ has opened a criminal investigation into Fed Chair Jerome Powell, raising questions over central bank independence and reinforcing Bitcoin’s hedge narrative.
The US Department of Justice has launched a criminal investigation into Federal Reserve Chair Jerome Powell. Powell dismissed the inquiry as a “pretext” aimed at pressuring Fed monetary policy decisions. The development has drawn political backlash, with Senate Banking Committee member Thom Tillis condemning the investigation as an attack on central bank independence. Analysts note the probe introduces heightened uncertainty into macroeconomic planning, influencing risk assets and safe-haven flows.
In early trading, traditional haven assets such as gold and silver rose sharply, while Bitcoin posted a more moderate increase of 1.7% to roughly $92,000. Market observers suggest that Bitcoin’s relative neutrality could strengthen its narrative as a hedge against politically influenced monetary policy. Tim Sun, senior researcher at HashKey Group, highlighted that any compromise of the Fed’s autonomy could embed political risk into US dollar markets, increasing demand for decentralized, non-sovereign assets.
Experts caution that short-term volatility may dominate as investors adjust to potential disruptions in rate expectations and the broader yield curve. However, if political pressure undermines Fed credibility, Bitcoin could evolve into a recognized institutional hedge.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Monero Hits Record High as Privacy Coins Gain Momentum
Monero surged above $592, marking an eight-year high as investor interest in privacy-focused cryptocurrencies resurfaces amid fragmented liquidity.
Monero (XMR) surged to a fresh all-time high of $592 on January 11, extending gains that reflect renewed attention on privacy-focused cryptocurrencies. The asset has climbed roughly 24% in a single day and 40% over the past week, following a trend that began in late 2025 when privacy-linked tokens demonstrated relative resilience compared with the broader crypto market. Market participants noted that Zcash and other privacy alternatives also saw strong performance, underscoring a rotation of investor interest toward assets offering enhanced transactional privacy.
Analysts caution that Monero’s rapid price moves may be amplified by concentrated and offshore-heavy liquidity. Many privacy tokens trade primarily on a limited number of exchanges, leaving price discovery fragmented and more susceptible to short-term swings. Ryan McMillin, chief investment officer at Merkle Tree Capital, emphasized that these market structures necessitate careful analysis of volume sources before interpreting price trends, noting that regulatory constraints on privacy coins in certain jurisdictions can further influence trading patterns.
Beyond near-term trading, privacy coins are drawing attention as global regulators increase oversight of traditional payments. Investors see these assets as hedges against growing scrutiny in fiat and on-chain transactions, particularly in markets with heightened restrictions on cash usage.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
SEC Delays PENGU and T. Rowe Crypto ETF Decisions
The SEC has postponed rulings on two crypto ETFs while opening a public comment period for options tied to a Grayscale multi-asset crypto fund.
The US Securities and Exchange Commission (SEC) has extended its review period for two crypto-related exchange-traded funds (ETFs), Canary Pudgy Penguins (PENGU) and T. Rowe Price Active Crypto ETF. Both proposals entered the standard 19b‑4 process, which allows the agency to extend the decision window by up to 45 days to further evaluate market structure, investor protections, and potential manipulation risks.
In a separate filing, NYSE American opened a public comment period for proposed standardized options on the Grayscale CoinDesk Crypto 5 ETF, which tracks a five-asset index including Bitcoin, Ethereum, XRP, Solana, and Cardano. Approval of these options would introduce additional hedging and leverage tools to a derivatives market historically concentrated in blue-chip cryptocurrencies. Market participants are invited to submit feedback on whether the options comply with Exchange Act standards for fair and orderly markets, along with safeguards against fraud and manipulation.
The SEC’s staggered approach highlights the agency’s cautious stance toward expanding crypto-related ETFs and derivatives beyond established digital assets. While delays do not signify rejection, they underscore the need for comprehensive risk assessment amid growing institutional interest in multi-asset and NFT-linked products.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
US Bitcoin ETFs Extend Three-Day Outflow Streak
US spot Bitcoin ETFs recorded nearly $1 billion in net outflows over three days as investors reduced risk and momentum faded.
US spot Bitcoin exchange-traded funds extended a three-day outflow streak, shedding roughly $935 million as investors pared exposure amid softer market sentiment. Daily outflows of about $205 million underscored a shift away from the early January risk-on positioning that briefly lifted Bitcoin prices.
Market participants described the moves as tactical de-risking rather than a structural exit from crypto exposure. Bitcoin’s inability to hold above key resistance near $92,000 and heightened macro uncertainty contributed to the pullback, alongside routine capital reallocation following year-end positioning.
Despite the recent outflows, cumulative ETF flows remain modestly positive for the year, suggesting underlying institutional interest has not reversed. Analysts noted that overhead supply from recent buyers could limit near-term upside, pointing to a period of consolidation as investors reassess risk across digital asset markets.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Colombia Orders Crypto Platforms to Report User Data
Colombia’s tax authority has mandated crypto exchanges and intermediaries to submit detailed user and transaction data, tightening oversight of digital asset activity.
Colombia’s National Directorate of Taxes and Customs has introduced a new reporting requirement for crypto service providers operating in or serving the country. Under Resolution 000240, exchanges and intermediaries must collect and submit detailed information on users and transactions involving cryptocurrencies and stablecoins.
The measure expands existing tax disclosure rules by adding third-party reporting obligations. Platforms are required to report account ownership data, transaction volumes, transferred units, market values, and net balances. The framework aligns Colombia with the OECD’s Crypto-Asset Reporting Framework and applies to both domestic firms and foreign providers with Colombian users.
Reporting obligations begin with the 2026 tax year, with the first full filing due in May 2027. Authorities say the policy will improve cross-checking of tax declarations and reduce evasion risks. Non-compliance may result in financial penalties tied to unreported transaction values, reinforcing Colombia’s broader push for oversight as crypto usage grows locally.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Bank of America Upgrades Coinbase to Buy
Bank of America upgraded Coinbase to a buy rating, citing the exchange’s expansion into equities trading, prediction markets, and tokenized assets.
Bank of America upgraded Coinbase shares to a buy rating, arguing the exchange is evolving beyond a pure crypto trading platform into a broader financial services company. In a research note, the bank cited Coinbase’s push into weekday equities trading, derivatives, and prediction markets as key drivers of longer-term value creation.
The firm highlighted recent product announcements, including plans for 24-5 stock and ETF trading, equity-linked perpetuals outside the US, and a prediction markets offering through a regulated partner. Bank of America also pointed to Coinbase’s Ethereum-based Base network and its consideration of a native token as potential sources of diversification and incremental revenue.
Despite recent weakness in Coinbase’s stock price, analysts said the company is increasingly less dependent on crypto trading volumes alone. From an institutional perspective, the expansion reflects competitive pressure among exchanges to offer multi-asset access while operating within regulated market structures.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.