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IBM and Cisco Set 2030 Target for Long-Distance Quantum Networks in Push Toward a Future Quantum Internet

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IBM and Cisco Systems have unveiled an ambitious plan to link quantum computers over long distances, setting a goal of demonstrating the concept by the end of 2030.

Both companies say the effort could eventually lay the foundation for a quantum internet, although much of the required technology still has to be invented and will depend on deep collaboration with universities and U.S. federal laboratories.

The companies disclosed the plan on Thursday, framing it as the start of a long technical journey rather than an imminent commercial rollout. Executives stressed that the networks of the future will require entirely new hardware, new scientific breakthroughs, and a unified approach to system design.

Quantum computers have long been viewed as machines capable of tackling problems in physics, chemistry, and computer security that are far beyond the reach of today’s classical supercomputers. They operate using qubits—quantum bits—that can exist in multiple states at once. Yet the same properties that make them remarkable also make them fragile, error-prone, and extremely difficult to scale. IBM is one of the companies leading the race to build a functional, reliable system and has said it aims to have an operational quantum machine by 2029.

Cisco, for its part, has been exploring the networking side of the challenge. Earlier this year, the company opened a dedicated lab to study how quantum systems could be connected—a step that aligns with its long history as a backbone provider for the classical internet.

A major hurdle sits at the very heart of the effort. Quantum computers such as IBM’s operate inside massive cryogenic tanks cold enough that atomic motion nearly stops. This environment allows qubits to function but also traps them in place. To transmit information externally, IBM must convert these stationary qubits into what Jay Gambetta, director of IBM Research and an IBM fellow, described to Reuters as “flying” qubits—microwave-based quantum signals capable of leaving the cryogenic system.

But even these microwave qubits are only the first step. To travel over long distances between Cisco’s fiber-optic switches, the microwave signals must be transformed into optical signals. The component responsible for this conversion—a microwave-optical transducer—does not yet exist at the required level of efficiency or stability. IBM and Cisco plan to work with organizations such as the Superconducting Quantum Materials and Systems Center, led by the Fermi National Accelerator Laboratory near Chicago, to develop it.

Cisco and IBM also intend to publish open-source software that integrates all components of the emerging system. This is meant to help researchers and partners experiment, test interoperability, and avoid fragmentation as the technology advances.

Vijoy Pandey, senior vice president of Cisco’s Outshift innovation incubator, said the joint approach is essential.

“We are looking at this end-to-end as a system … rather than two discrete road maps,” he noted. “We are solving it jointly, which has a much better chance of this thing going in the same direction.”

The effort, if successful, could mark the earliest stage of a quantum internet, a network that—unlike today’s classical internet—could rely on quantum mechanics to transmit information with new levels of security and computational power. But the companies acknowledge that the vision is still years away, with fundamental scientific obstacles yet to be overcome.

IBM, Cisco, Google’s quantum division, academic labs, and government-funded research centers are all pushing different pieces of the puzzle forward. The joint IBM–Cisco initiative adds a major industry-scale attempt to tackle the networking challenge, one of the least-developed but most essential elements of a future quantum ecosystem.

Monad Addresses Coinbase Token Sale Slowdown, as Filecoin Foundation and FilOz Launch Filecoin Onchain Cloud

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Monad, a high-performance EVM-compatible Layer 1 blockchain, launched its public token sale for the native $MON token on Coinbase’s new token sales platform on November 17, 2025.

The sale aims to distribute up to 7.5 billion MON tokens 7.5% of the initial 100 billion total supply at a fixed price of $0.025 per token, targeting broad retail participation ahead of the Monad mainnet launch on November 24, 2025.

Commitments are made in USDC, with minimums of $100 and maximums of $100,000 potentially higher for Coinbase One subscribers. Tokens unlock fully at TGE (Token Generation Event) on mainnet launch. The platform, built post-Coinbase’s $375 million acquisition of Echo, prioritizes “filling from the bottom” for oversubscription—allocating to smaller commitments first—to promote fair distribution.

The sale runs until November 22, 2025, 9:00 PM ET, and is accessible in over 80 countries, including the U.S., but excludes regions like Europe due to regulatory restrictions. The sale started strong, raising about $43 million in the first 30 minutes and reaching 45% subscription ~$90 million committed within hours.

However, momentum faded quickly, with commitments stalling at around 48% by November 18. As of the latest reports, only about $90 million has been pledged against a potential $187.5 million target, heightening fears of undersubscription.

This contrasts sharply with recent sales like MegaETH’s, which was massively oversubscribed $1.39 billion committed vs. $50 million target. Speculated factors include: Short commitment window and lock-in: Participants have 5.5 days to decide, with no ability to cancel or adjust once committed.

Geographic exclusions: Unavailability in Europe limits the buyer pool. Critics point to Monad’s prior $225 million private raises valuing it at ~$3 billion FDV and vesting schedules as deterring some investors, despite the public sale’s low entry price.

Broader crypto sentiment, with Bitcoin hovering around $90K, may be shifting focus elsewhere. If undersubscribed, unsold tokens will be reallocated to Monad’s Ecosystem Development category for grants, partnerships, and marketing—part of an adaptive strategy outlined in their tokenomics to avoid waste.

On November 18, Monad co-founder Keone Hon addressed the slowdown on X, emphasizing the sale’s core goal: ” The purpose of the MON token sale is to achieve the broadest distribution.”

He defended the Coinbase choice for its “democratic and transparent” algorithm and ability to “reach an audience that we think is important to engage and re-activate.” Hon also clarified the mechanics: “Users get 5 1/2 days to decide whether to commit, and once they commit, they’re locked in,” framing it as intentional for commitment seriousness.

This messaging aims to reassure the community, positioning the slowdown not as a failure but as a feature of prioritizing decentralization over hype-driven oversubscription. Community reactions on X are mixed—some see it as a “speed bump” in an unpredictable market, while others worry about signaling weakness.

At $0.025, the public sale implies a $2.5 billion FDV, with ~10.8% of supply public sale + airdrop circulating at launch. Pre-market trading on platforms like Hyperliquid shows $MON at ~$0.05–$0.06, suggesting 2x potential upside, but high initial circulation 49.4% unlocked, though much earmarked for ecosystem could pressure prices post-launch.

Success here could validate Coinbase’s platform for future sales (e.g., potential $BASE or $FAR), rewarding long-term holders with better allocations. Risks remain execution delays, security, and competition from Solana-like chains.

As of November 20, the sale has ~2 days left—watch for a late surge or further Monad updates.

Filecoin Foundation and FilOz Launch Filecoin Onchain Cloud

The Filecoin Foundation—dedicated to advancing decentralized storage and open-source governance—and FilOz, its research and development arm focused on protocol engineering and network upgrades, announced the launch of Filecoin Onchain Cloud.

This new decentralized cloud platform aims to empower developers to build more resilient, verifiable, and customizable onchain applications, addressing the vulnerabilities exposed by recent outages in centralized cloud providers that have disrupted Web3 services like dApps, explorers, and wallets.

Tackling the “Decentralization Paradox”

The Web3 ecosystem often relies on centralized infrastructure via AWS or Google Cloud for hosting and data management, creating a single point of failure despite the decentralized ethos of blockchain.

Filecoin Onchain Cloud flips this by providing a fully onchain, programmable layer for storage, retrieval, and payments—ensuring everything is auditable, transparent, and resistant to censorship or downtime.

As Marta Belcher, President and Chair of the Filecoin Foundation, stated: “Launching Filecoin Onchain Cloud is a huge milestone for the Filecoin network… FOC unlocks critical capabilities that will accelerate the Filecoin network’s mission to build a more open, resilient, and verifiable internet.”

Molly Mackinlay, CEO of FilOz and a key contributor to IPFS (InterPlanetary File System), added: “Filecoin Onchain Cloud brings onchain guarantees like verifiability, programmability, and openness to cloud-scale infra services. Builders deserve a cloud built on proofs, not promises!”

Development on the platform began about a year ago, leveraging the Filecoin Virtual Machine (FVM) to enable smart contracts for not just storage, but also retrieval and processing workloads. At launch, the platform introduces foundational services accessible via the Synapse SDK, a developer toolkit for seamless integration.

Keeps data online with cryptographic onchain proofs of availability. Verifiable persistence; no trust in third parties. Filecoin Pay: Automates usage-based payments using native USDFC stablecoin primitives. Programmable billing; composable with DeFi.

Filecoin Beam: Enables fast, measured retrievals with incentives for providers. Low-latency access; rewards efficient data delivery.

These components allow developers to create custom storage markets, policies, and even “DeFi frontends” that function like traditional websites but with blockchain-native advantages—such as ENS and Safe wallets trialing easy-to-update interfaces.

The platform supports full cloud workloads, from basic storage to data transformations and AI-driven processing, all tethered to Filecoin’s global network of verifiable storage. Several projects are already integrating: ERC-8004 community: Standardizing onchain cloud interfaces.

Testing user-friendly DeFi UIs. KYVE (data archiving), Monad— high-performance blockchain, Akave and Storacha storage solutions, Geo Podcasts a decentralized media. Filecoin Onchain Cloud is live on the Filecoin testnet as of November 18, 2025, with mainnet deployment slated for January 2026.

Developers can explore it at filecoin.cloud or dive into the Synapse SDK for building. Crypto Economy News shared a detailed thread on the customizable app focus, while users like Cryptiogaga noted its role in advancing Web3 storage tools. Overall sentiment emphasizes resilience amid growing DePIN— Decentralized Physical Infrastructure Networks interest.

This launch positions Filecoin as a cornerstone for data-heavy applications in AI, DeFi, and beyond, potentially reducing reliance on Big Tech clouds. If you’re a developer, it’s worth checking the testnet—early feedback could shape the mainnet rollout.

Virtual Assets LLC and Co-founder Indicted for a $10M Money Laundering Conspiracy

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Federal prosecutors in Chicago indicted Firas Isa, a 36-year-old resident of Frankfort, Illinois, and his company, Virtual Assets LLC, for their alleged role in a money laundering conspiracy involving at least $10 million.

Virtual Assets LLC operates a network of cryptocurrency automated teller machines (ATMs), primarily Bitcoin ATMs, across the United States, including locations in Illinois, Texas, and other states.

According to the U.S. Attorney’s Office for the Northern District of Illinois, Isa and his company facilitated the laundering of illicit funds derived from: Wire fraud schemes.

The scheme reportedly involved criminals using the company’s ATMs to convert fiat currency into cryptocurrencies and vice versa to obscure the origins of the money. Prosecutors claim that Virtual Assets LLC processed these transactions with knowledge that the funds were proceeds of illegal activities, charging high fees up to 30% that generated significant profits for the company.

The indictment alleges that Isa personally directed employees to ignore anti-money laundering (AML) red flags and to process suspicious transactions. Isa faces charges including: Conspiracy to commit money laundering up to 20 years in prison if convicted.

Operating an unlicensed money transmitting business up to 5 years. The company is also charged as a co-defendant. Virtual Assets LLC founded by Isa in 2020, Virtual Assets LLC grew to operate over 100 crypto ATMs nationwide, marketed as a convenient way for users to buy and sell digital assets.

The company was registered in Illinois but had a national footprint. This case highlights ongoing regulatory scrutiny of crypto ATMs, which have been criticized for weak AML compliance compared to traditional financial institutions.

Isa was arrested and appeared in court on November 19, 2025, where he was released on a $100,000 bond. The case is being prosecuted by the U.S. Department of Justice’s Money Laundering and Asset Recovery Section, in coordination with the IRS Criminal Investigation and the FBI.

No trial date has been set yet. This incident underscores the U.S. government’s increasing focus on crypto-related financial crimes, following similar enforcement actions against other ATM operators.

The indictment against Firas Isa and Virtual Assets LLC represents a significant escalation in U.S. federal enforcement against cryptocurrency infrastructure providers accused of facilitating financial crimes.

Both defendants face a single count of money laundering conspiracy under 18 U.S.C. § 1956(h), which carries a maximum penalty of 20 years in federal prison if convicted. Additionally, operating an unlicensed money transmitting business could add up to 5 years under 18 U.S.C. § 1960.

Isa has pleaded not guilty, with a status hearing scheduled for January 30, 2026, before U.S. District Judge Elaine Bucklo. A conviction would likely trigger mandatory forfeiture of any property involved in the scheme, including a personal money judgment against Isa, and the government could pursue substitute assets if direct recovery proves impossible.

This case joins a wave of similar actions, such as the 2024 indictments of Gotbit’s founder for market manipulation and a nine-person network tied to drug cartels, signaling the DOJ’s intent to treat crypto-related laundering as a high-priority “threat category.”

Regulatory and Industry Implications

Crypto ATMs, which grew to over 38,000 machines in the U.S. by mid-2025, have long been flagged as regulatory blind spots due to inconsistent Know-Your-Customer (KYC) and Anti-Money Laundering (AML) enforcement compared to centralized exchanges.

Prosecutors allege Isa bypassed these requirements, allowing criminals to convert fiat from wire fraud and narcotics trafficking into cryptocurrencies like Bitcoin via Virtual Assets’ “Crypto Dispensers” network—processing at least $10 million between 2018 and 2025 while charging up to 30% fees.

This has amplified calls for stricter oversight from FinCEN, the U.S. Treasury’s financial intelligence unit, which classifies ATM operators as Money Services Businesses (MSBs). Post-indictment discussions on platforms like X highlight potential reforms, including mandatory on-chain surveillance tools from firms like Chainalysis and lower transaction thresholds for KYC verification.

Industry-wide, operators may face increased audits, higher compliance costs, and reduced investor confidence, potentially stalling the sector’s expansion amid broader crypto adoption under a pro-innovation administration.

Ironically, recent pardons like that of Binance’s Changpeng Zhao underscore a mixed federal stance—cracking down on operators while softening on exchanges. This case underscores the tension between cryptocurrency’s promise of financial accessibility and its vulnerability to exploitation by illicit actors, eroding public trust in digital assets.

Economically, it may accelerate blockchain analytics adoption, benefiting firms tracking illicit flows, but at the cost of innovation for small operators like Virtual Assets, which targeted convenience stores and gas stations for on-ramps.

Globally, it reinforces U.S. leadership in anti-laundering standards, potentially influencing international bodies like the FATF to tighten rules on crypto kiosks. For everyday users, heightened scrutiny could mean more ID checks at ATMs, balancing crime prevention with privacy concerns—a “fence that needs reinforcing,” as one analyst put it.

Ultimately, while targeting real criminals, the “widening dragnet” risks ensnaring early innovators, echoing historical overreaches like the 1933 gold confiscation.

Samourai Wallet Co-founder Sentenced to 4 Years Imprisonment

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William Lonergan Hill, the 67-year-old co-founder and Chief Technology Officer (CTO) of Samourai Wallet—a privacy-focused Bitcoin wallet app—was sentenced to four years in federal prison on November 19, 2025, in the U.S. District Court for the Southern District of New York.

The sentencing stems from charges of conspiracy to commit money laundering and operating an unlicensed money transmitting business. Hill, along with co-founder and CEO Keonne Rodriguez, pleaded guilty in July 2025 after their arrests in April 2024.

Rodriguez received a five-year sentence two weeks earlier. Samourai Wallet, launched around 2015, included tools like Whirlpool a coin-mixing service and Ricochet a transaction-obfuscation feature designed to enhance Bitcoin privacy by breaking transaction links.

Prosecutors argued these features were marketed to cybercriminals, facilitating the laundering of over $237 million in illicit funds from sources including drug trafficking, darknet marketplaces, hacks, frauds, sanctioned entities, murder-for-hire schemes, and even a child pornography site.

The service processed more than $2 billion in Bitcoin transactions from 2017 to 2024, earning the founders approximately $6.3 million in fees. 4 years reduced from the statutory maximum of 5 years due to mitigating factors.

Supervised Release: 3 years following incarceration. Fine: $250,000. Hill and Rodriguez have already paid $6,367,139.69, covering the fees earned by Samourai, in partial satisfaction of a $237.8 million forfeiture order tied to traceable criminal proceeds.

U.S. District Judge Denise Cote cited Hill’s recent autism diagnosis and advanced age as reasons for the lighter sentence compared to Rodriguez. Hill’s attorney argued that his neurodivergence contributed to his belief that the operations were legal.

Hill, a U.S. national, was arrested in Portugal and extradited. The case highlights escalating U.S. regulatory scrutiny on cryptocurrency mixing services, which obscure transaction trails to promote privacy but can enable illicit activity. The Department of Justice emphasized that such tools make it “virtually impossible” for victims to recover stolen funds.

Crypto advocates, including Bitcoin developer Alexander Städelmann, have criticized the rulings as an overreach that stifles innovation in privacy tools, potentially setting precedents for decentralized software development. Earlier defense filings claimed prosecutors withheld exculpatory evidence from FinCEN indicating Samourai didn’t require a money transmitter license, though this did not alter the outcome.

This sentencing concludes the core proceedings against the Samourai founders, though appeals or broader industry impacts remain possible. Prosecutors successfully argued that even non-custodial privacy tools like Samourai Wallet’s Whirlpool mixer qualify as unlicensed money transmitting businesses under federal law 31 U.S.C. § 5330.

If they facilitate obscured transactions exceeding certain thresholds. This ruling reinforces the Department of Justice’s (DOJ) stance that developers bear liability for foreseeable criminal misuse, regardless of open-source nature or lack of asset custody.

It aligns with FinCEN’s 2019 guidance but extends it aggressively, potentially classifying similar tools as money transmitters without explicit registration. This case parallels the August 2025 conviction of Tornado Cash developer Roman Storm, who faces up to five years for similar charges, signaling a broader DOJ crackdown on mixers tied to over $3 billion in laundered funds in 2025 alone.

Expect more indictments against privacy protocol developers, with emphasis on marketing to “high-risk” users (e.g., dark web promotions). Calls for clearer statutes on non-custodial tools, potentially via amendments to the Bank Secrecy Act, to balance innovation and anti-money laundering (AML) goals.

The rulings underscore a U.S. policy prioritizing traceability over anonymity, viewing mixers as “gifts to criminals” that hinder victim restitution. Privacy advocates, including the Bitcoin Policy Institute, decry this as a “war on privacy,” arguing it criminalizes tools essential for dissidents, journalists, and everyday users in surveillance-heavy regimes.

Coders may self-censor, relocating to jurisdictions like Portugal or Singapore with laxer rules, stifling U.S.-based innovation in zero-knowledge proofs or CoinJoin protocols. Rise in “regulatory-friendly” privacy layers (e.g., audited zk-SNARKs in Ethereum), but at the cost of usability and true anonymity.

Critics warn this erodes Bitcoin’s core ethos of pseudonymous transactions, potentially driving adoption toward centralized exchanges with KYC mandates. Rodriguez’s public petition for a presidential pardon highlights community mobilization, echoing support for Storm from the Ethereum Foundation.

Legitimate privacy seekers face reduced options, increasing reliance on VPNs or offshore tools, while criminals adapt faster via decentralized alternatives like Monero mixers. Short-term dips in privacy coins like Zcash, Dash expected, with long-term growth in compliance-focused DeFi; overall crypto adoption may slow in the U.S. due to perceived risks.

Non-U.S. regulators like EU’s MiCA may harmonize tougher rules, but it could accelerate “crypto exile” to pro-innovation hubs, fragmenting the ecosystem. Ultimately, these sentences tip the scales toward regulation, forcing the industry to innovate within legal bounds or risk existential threats to privacy as a foundational principle.

Appeals could soften this trajectory, but absent clemency, they mark the end of an era for unchecked anonymity tools.

Uniswap’s UNIfication Proposal: Activating Fees and UNI Burns Amid Record 2025 Revenue

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Uniswap, the leading decentralized exchange (DEX) on Ethereum, is at a pivotal moment as its protocol fees for 2025 approach the $1 billion mark.

Year-to-date through October, the platform has generated over $985 million in fees, averaging nearly $93 million per month, with October alone exceeding $132 million—its highest since January. This surge, up 17% month-over-month since Q2, positions Uniswap to surpass last year’s totals, driven by robust trading volumes exceeding $150 billion in the past 30 days.

In response, Uniswap Labs and the Uniswap Foundation have jointly proposed “UNIfication,” a governance overhaul that activates long-dormant protocol fees, introduces a UNI token burn mechanism, and streamlines ecosystem incentives. If approved by UNI holders, this could mark a transformative shift for DeFi tokenomics.

Announced on November 10, 2025, by Uniswap founder Hayden Adams in his first governance proposal, UNIfication aims to align protocol success with UNI token value accrual.

Protocol Fee Activation; Enables a “fee switch” to divert 10-25% of liquidity provider (LP) swap fees from Uniswap v2/v3 (e.g., 1/10th, 1/6th, or 1/4th) to the protocol treasury. Ends Uniswap Labs’ front-end fees.

Based on 2025’s $985M fees, this could yield $98-246M annually for the treasury, with v3 alone contributing $671M YTD $381M from Ethereum mainnet.

UNI Burn Mechanism

Fees flow into a “burn-first” smart contract that automatically incinerates UNI tokens. Includes a retroactive burn of 100 million UNI from the treasury worth ~$800M-$1B at current prices, compensating for missed burns since launch.

Reduces circulating supply, boosting scarcity. Had it been active, ~$150M in UNI worth ~$26M in the last 30 days would have been burned YTD. Annualized fees of $2.8B could burn $280-700M worth.

Unichain Integration

Redirects sequencer fees from Uniswap’s Layer-2 network Unichain, launched ~9 months ago to the burn after covering L1 data costs and Optimism’s 15% cut. Unichain’s $100B annualized DEX volume and $7.5M sequencer fees add ~$4.6M annually to burns 84% margin.

Introduces Protocol Fee Discount Auctions (PFDA) for bidding on fee-free trades internalizing MEV and v4 “hooks” turning Uniswap into an on-chain aggregator for external liquidity fees. Enhances user incentives and captures revenue from competitors, potentially adding millions in burns.

Consolidates Foundation functions into Labs; allocates 20M UNI/year for growth; drops Labs’ API/wallet takerates to zero. Streamlines decision-making, focusing on adoption while democratizing value flow.

The proposal builds on Uniswap’s v3 fee options but defaults to burns unless governance votes otherwise, prioritizing token holders over Labs’ revenue. The announcement triggered an immediate bull run: UNI surged over 35% within two hours, adding $1.6B to its market cap and hitting a 2-month high.

Whales piled in, with the token later rallying 50% overall. Analysts forecast further upside, eyeing $12.5 resistance, as the burn could evolve UNI from a pure governance token into a yield-bearing asset. For context, successful fee switches at peers like Aave 75% annualized price gain in 2025 and Ethena highlight the model’s potential.

On X, the proposal has sparked lively debate. News aggregators and analysts highlighted the $1B fee milestone and burn’s deflationary edge, However, rivals like Aerodrome’s CEO mocked it as a “strategic mistake,” citing their 56% Base chain market share vs. Uniswap’s 40-44% though filtered data adjusts Uniswap’s non-fraudulent volume favorably.

Community estimates peg monthly buyback potential at $38M, outpacing some competitors but trailing hype-driven ones like HYPE. If passed, UNIfication could set a precedent for fee-sharing in DeFi, tying protocol dominance to token utility and countering criticisms of UNI’s limited value capture.

With $503M in v2 fees YTD and growing stablecoin volumes ($19.4B), Uniswap’s 2025 haul underscores its resilience post-October’s market crash. Governance voting is underway—watch for outcomes that could redefine DEX economics.