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Baird veröffentlicht den globalen Kapitalausblick zum Ende 2025: Politische Differenzierung, technologische Treiber und Kapitalverknappung prägen den neuen Investitionszyklus.

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Die international bekannte Vermögens- und Kapitalmanagementgesellschaft Baird veröffentlichte auf ihrem zweiten Kapitalinvestitionsplan-Feierabend eine aktuelle Ausblick-Analyse, in der sie darauf hinwies, dass die globalen Kapitalmärkte in eine neue Phase eingetreten sind, in der mehrere strukturelle Kräfte miteinander verwoben sind. Handelspolitik, Staatsverschuldung und Durchbrüche in der Künstlichen Intelligenz (KI) verändern gemeinsam die Markterwartungen und Investitionslogik. Der Bericht hebt hervor, dass zum Ende 2025 politische Differenzierung, technologische Treiber und Kapitalverknappung die zentralen Variablen der globalen Kapitalströme werden und den Investoren eine tiefgreifende Veränderung von einer Liquiditäts- zu einer Effizienz-getriebenen Marktentwicklung bringen werden.

 

baird Baird veröffentlicht den globalen Kapitalausblick zum Ende 2025: Politische Differenzierung, technologische Treiber und Kapitalverknappung prägen den neuen Investitionszyklus.

 

Kapitalneuverteilung unter politischer Differenzierung: Die Volatilität in den USA steigt, Europa steht vor sicheren Chancen

Der Europa-Direktor von Baird, Becker, erklärte auf der Konferenz: „Der globale Markt bietet nicht weniger Chancen, sondern die Chancen verschieben sich von einer Liquiditäts- zu einer Effizienz-getriebenen Entwicklung.“

Am Beispiel der USA beschleunigt die doppelte Belastung durch Handelszölle und das Haushaltsdefizit den Kapitalrückfluss in die heimische Produktion. Dies hat kurzfristig die Beschäftigung und Unternehmensgewinne deutlich angekurbelt, jedoch gleichzeitig Inflationsdruck und ein Risiko für die Ausweitung der Staatsverschuldung mit sich gebracht. In den nächsten Jahren wird erwartet, dass die Volatilität auf dem US-Markt erheblich steigen wird. Gleichzeitig bietet der europäische Markt mit seiner relativ stabilen Politik und dem laufenden Strukturwandel zunehmend sicherere, phasenweise Investitionsmöglichkeiten. Die Hochzinsumgebung wird länger anhalten, und die Divergenz der politischen Taktik großer Wirtschaftsmächte wird ein Schlüsselmarktfaktor für die globale Kapitalverteilung.

Reale Spannungen der technischen Revolution: KI steigert die Produktivität, die kapitalintensive Revolution vergrößert den Unterschied zwischen den Unternehmen
Die Konferenz konzentrierte sich besonders auf die weit verbreitete Anwendung von Künstlicher Intelligenz und Hochleistungsrechnen, die mittlerweile als treibende Kraft für die Produktivitätssteigerung weltweit angesehen wird. Allerdings ist die Verteilung der Technologievorteile ungleich. Becker wies darauf hin: „KI wird nicht alle Industrien sofort umgestalten, sondern sie gleicht einer ‘kapitalintensiven’ Revolution, die kurzfristig den Effizienzunterschied zwischen den Unternehmen vergrößern wird.“

In den Bereichen Energie, Elektromobilität, Rechenzentren und der Halbleiterindustrie hat Baird bereits mit dem dritten Kapitalinvestitions- und Wachstumsplan (Baird Third Capital Investment & Growth Program) qualitativ hochwertige Vermögenswerte vorab positioniert. Dieser Plan zielt darauf ab, strukturelle Wachstumssektoren präzise zu erfassen und durch Diversifikationsstrategien das Portfolio auch in volatileren Phasen stabil zu halten.

Schuld- und Zinssatzumfeld gestalten die Logik der festverzinslichen Anlagen neu: Von “Wetten auf Zinssenkungen” zu “Robustem Zinsgewinnen”

Der Bericht prognostiziert, dass die Renditen auf dem Anleihemarkt in Zukunft stärker von “Kuponrenditen” (Zinseinnahmen) abhängen werden, anstatt von traditionellen Kurssteigerungen. Dies markiert eine grundlegende Veränderung in der Logik der festverzinslichen Asset-Allokation – von “Wetten auf Zinssenkungen” hin zu “Robustem Zinsgewinnen und Reinvestition”.

In Europa stützen die Ausweitung der Staatsverschuldung und die Erhöhung der Verteidigungsausgaben kurzfristig die wirtschaftliche Aktivität, aber der langfristige Erfolg hängt von der Effizienz der fiskalischen Umsetzung ab. Becker warnte: “Wenn das Schuldenwachstum mit produktiven Investitionen gekoppelt werden kann, wird es einen positiven Kreislauf schaffen; wenn es jedoch für kurzfristige Stimulationen verwendet wird, könnte es den zukünftigen Spielraum einschränken.”

Baird Drittes Kapitalinvestitionsprogramm: Forschungsgetrieben, Risikostufenmanagement, länderübergreifende Kooperation

Als Kernprojekt von Bairds globaler Strategie ist das Dritte Kapitalinvestitions- und Wachstumsprogramm nicht nur eine Asset-Allokationsstrategie, sondern auch eine strategische Antwort auf die Marktlandschaft der neuen Ära. Das Programm integriert drei zentrale Mechanismen:

  • Forschungsgetriebenes Auswahlverfahren: Tiefgehende Identifizierung von Wachstumschancen mit hoher Sicherheit
  • Mehrstufiges Risikomanagement: Multidimensionale Absicherung gegen Marktschwankungen
  • Länderübergreifendes Kapitalkooperationsmodell: Effektive Vernetzung globaler Ressourcen

 

Becker betonte in seiner Abschlussrede: “In den letzten zehn Jahren haben Investoren Wachstum in einer Ära der übermäßigen Liquidität gesucht; in den nächsten zehn Jahren müssen sie Sicherheit in strukturellen Veränderungen finden. Bairds Ziel ist es, das Wachstum des Kapitals wieder mit dem tatsächlichen Wert der Wirtschaft in Einklang zu bringen.”

Baird, als führende globale Vermögensverwaltungsgesellschaft, bietet weiterhin zukunftsorientierte Kapitallösungen für institutionelle und vermögende Investoren an. Weitere Informationen zum Dritten Kapitalinvestitions- und Wachstumsprogramm von Baird sowie zum vollständigen Bericht über den globalen Kapitalausblick 2025 erhalten Sie auf der Website oder über die lokale Vertretung.

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FinMedia Group Launches B2B Advisory for Prop Trading Operators Overbuilding Before Validating Demand

SingaporeSingapore-headquartered media network helps new prop firms launch lean and scale tech, marketing, and infrastructure based on validated revenue — not vendor sales pitches. FinMedia Group (FMG), the Singapore-headquartered finance and trading media network, has launched FundedTrading B2B Consulting, an advisory service for entrepreneurs and operators entering the proprietary trading sector. The service responds to […]

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Singapore-headquartered media network helps new prop firms launch lean and scale tech, marketing, and infrastructure based on validated revenue — not vendor sales pitches.

FinMedia Group (FMG), the Singapore-headquartered finance and trading media network, has launched FundedTrading B2B Consulting, an advisory service for entrepreneurs and operators entering the proprietary trading sector.

finmedia FinMedia Group Launches B2B Advisory for Prop Trading Operators Overbuilding Before Validating Demand

The service responds to a pattern FMG has observed across more than 100 firm reviews since 2022: new operators routinely overbuild before validating demand — sinking launch capital into enterprise-grade tech stacks, oversized marketing campaigns, paid advertising at scale, and full operational infrastructure before they have generated their first traders. The result is exhausted budgets, no proven channels, and nothing left for the activities that would have built the business sustainably.

“We’ve watched too many firms burn through their entire launch budget before they’ve validated a single channel. Enterprise-grade risk systems before they have a single trader. Five PSPs before their first transaction. Six-figure ad spend on audiences they haven’t tested. Proprietary platforms instead of what their target traders already use. Then they realise the budget is gone and they still have no proven way to acquire traders. The problem in this industry is not capability — it’s sequencing. Spend should follow validation, not lead it.”
— Karol Cempa, CEO, FinMedia Group

The Lean Launch Approach

FMG’s advisory is structured around what the firm calls a needs-based launch: minimum viable infrastructure at go-live, with the technology stack, marketing investment, and operational complexity scaled up as revenue justifies.

In practice, that means:

  • White-label challenge platforms rather than custom builds — most providers offer profit-split arrangements with no upfront monthly cost, ideal for operators starting from zero.
  • Selective trading platform choice based on actual audience preferences in the target geography, rather than offering every platform on day one.
  • Risk management tools deferred in the first months of operation, when transaction volume rarely justifies the cost.
  • Single PSP matched to target geography, rather than payment aggregators built for scale the firm does not yet have.
  • Manual processes initially, automated once volume justifies it.
  • Marketing spend held back until channels are validated — small, measured tests before scaling paid acquisition, not six-figure campaigns into untested audiences.
  • Maximum effort allocated to distribution — SEO, media coverage, affiliate relationships, and credibility signals — from before launch, not after.

 

“Operators get sold the full enterprise stack on day one because that’s what vendors are incentivised to sell. The firms that survive are the ones that launched lean enough that distribution could prove the model before more capital went into the stack.”
— Karol Cempa, CEO, FinMedia Group

Built on Three Years of Industry Coverage

FundedTrading.com, FMG’s core property, has been covering the prop trading industry since 2022. The site has reviewed, stress-tested, and analysed more than 100 firms across the sector — tracking which approaches scale and which collapse under their own infrastructure costs.

That dataset forms the foundation of FundedTrading B2B’s advisory work, which includes:

  • Business model design informed by data from 100+ live firms — challenge structures, drawdown rules, account tiers, profit splits, and scaling logic.Warm introductions to vetted vendors — white-label platforms, PSPs, liquidity providers — sized appropriately for the operator’s stage.
  • Media coverage at launch across FMG’s six properties: FundedTrading.com, FundedTrading.id, MyTradingReviews.com, DailyFXWire.com, FinPR.com, and the FMG newsletter network.
  • SEO and content advisory mapping the keyword landscape for the prop trading vertical.
  • Compliance orientation on jurisdictional and structural gaps that typically catch new operators off guard.
  • Affiliate and partnership introductions to active partners in the niche.

 

Engagement Structure

Engagements are scoped individually based on client stage and objectives. The process begins with a complimentary 30-minute discovery call. Pre-launch clients typically engage for business model design, vendor introductions, compliance orientation, and media setup. Post-launch clients engage for distribution support, affiliate introductions, SEO advisory, and growth strategy.

FundedTrading B2B operates on a fee basis and does not take equity or revenue share in client firms.

finmedia 2 FinMedia Group Launches B2B Advisory for Prop Trading Operators Overbuilding Before Validating Demand

Editorial Independence Preserved

FMG has maintained a clear separation between FundedTrading.com’s editorial review operations and the B2B advisory service. Reviews on FundedTrading.com continue to reflect actual trader experience, independent of any B2B engagement.

About FinMedia Group

FinMedia Group is a Singapore-headquartered finance and trading media network operating six properties across the prop trading, CFD, and FX verticals. The group’s portfolio includes FundedTrading.com, FundedTrading.id, MyTradingReviews.com, DailyFXWire.com, FinPR.com, and a newsletter network reaching active traders and operators globally.

Since 2022, FMG has built one of the most established editorial and review operations covering the prop trading industry.

About FundedTrading B2B

FundedTrading B2B is the advisory arm of FundedTrading.com, supporting operators entering or scaling within the prop trading industry. The service combines industry data, vendor access, and integrated media distribution across the FMG network. More information at fundedtrading.com/start-a-prop-firm.

Media Contact

Karol Cempa

Chief Executive Officer, FinMedia Group

[email protected]

https://finmediagroup.com

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NDAs Kept in the Dark From Council Members

Yuma, ArizonaWhen a local government decides how to spend taxpayer money, use public land, or approve massive infrastructure projects, the law requires everything to be open and transparent. However, an institutional breakdown occurs when executive leaders such as Mayor Douglas Nicholls along with board members of influential regional non-profits, fail to disclose private Non-Disclosure Agreements (NDAs) […]

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When a local government decides how to spend taxpayer money, use public land, or approve massive infrastructure projects, the law requires everything to be open and transparent. However, an institutional breakdown occurs when executive leaders such as Mayor Douglas Nicholls along with board members of influential regional non-profits, fail to disclose private Non-Disclosure Agreements (NDAs) before presenting projects to the city council. By using these secret legal contracts to hide their personal business interests, these figures create a massive conflict of interest. They essentially force council members to vote on major community initiatives while completely blindfolded to who is actually profiting behind the scenes.

fnmg NDAs Kept in the Dark From Council Members

​This intentional lack of disclosure transforms the city council from an independent oversight board into an unwitting legal shield for private networks. Non-profits and public-private partnerships are frequently used as the “middlemen” to broker local development deals because they do not face the same strict public transparency laws as City Hall. When a mayor or a non-profit board member signs a private NDA regarding a project, they lock away the real data, the financial alignments, and the identities of future commercial beneficiaries. They then present only the shiny, high-level summaries to the council floor. The council members are induced to vote “yes” on a proposal based on incomplete facts, entirely unaware that their votes are being harvested to validate and protect the executive inner circle’s hidden business ties.

​However, the city council needs to realize that they are not legally or ethically bound to stand by decisions made under this decade-long pattern of deception. Legally, a legislative body cannot be held strictly liable for a contract or resolution if material facts and personal financial interests were deliberately hidden from them at the time of the vote. An approval granted in an information vacuum is fundamentally flawed. Once independent investigations and forensic audits follow the paper trails, the protective “firewall” these insiders built entirely collapses. A vote cast in darkness cannot insulate public officials once federal regulatory agencies and the public expose the underlying conflicts of interest..

​The city council has the ultimate statutory power to break this cycle of co-optation immediately. Council members must stop acting as a rubber stamp for prepackaged deals brought forward by executive networks and their preferred non-profit proxies. The council has the full authority to halt any vote, table any resolution, and launch independent investigations into any project where full financial disclosure has been denied under the guise of private NDAs. The moment the city council refuses to validate deals wrapped in executive secrecy, they strip the inner circle of its legal insulation. They force entrenched leadership to stand alone and finally answer for years of keeping the council, and the entire Yuma community, in the dark.

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Pharos Network Expands RealFi Alliance with Circle, Avalon Labs, TermMax Finance, Primus & Tulipa Capital to Scale Productive Capital Across Onchain Finance

Hong Kong — June 24, 2026Financial & AI Layer 1 Pharos Network today welcomed Circle, Avalon Labs, TermMax Finance, Primus and Tulipa Capital as the newest strategic partners of the RealFi Alliance led by Pharos Network. This expansion directly tackles one of the most consequential challenges facing onchain finance today, that is expanding productive capital beyond stablecoin yield loops to […]

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Financial & AI Layer 1 Pharos Network today welcomed Circle, Avalon Labs, TermMax Finance, Primus and Tulipa Capital as the newest strategic partners of the RealFi Alliance led by Pharos Network. This expansion directly tackles one of the most consequential challenges facing onchain finance today, that is expanding productive capital beyond stablecoin yield loops to include the largest pools of onchain liquidity, the deepest asset class in traditional finance, and the trust infrastructure required for institutional scale.

unnamed 4 Pharos Network Expands RealFi Alliance with Circle, Avalon Labs, TermMax Finance, Primus & Tulipa Capital to Scale Productive Capital Across Onchain Finance

Bitcoin, the largest pool of onchain capital, sits largely passive. Fixed income, the deepest asset class in global finance, remains underserved onchain. Institutional capital stays on the sidelines without verifiable trust and compliance frameworks. The industry has the assets, but not yet the productive infrastructure around them.

This cohort is designed when Circle anchors the stack with USDC and CCTP, the regulated settlement layer that moves dollar liquidity natively across chains and into RealFi applications. Avalon Labs activates Bitcoin as working capital, enabling BTC-backed lending, borrowing, and structured yield strategies that connect the largest onchain asset to real-world opportunities. TermMax brings fixed-income and maturity-based products backed by real-world assets onchain, introducing the predictable, institutional-grade yield curve that traditional capital expects. Primus establishes the verification and trust layer through zkTLS and verifiable credentials, enabling compliance-friendly onboarding, reputation systems, and trusted interactions, including for AI agent–driven finance. Tulipa brings institutional capital expertise and professional asset allocation frameworks, channeling sophisticated capital into onchain RealFi opportunities. They extend the RealFi yield layer from stablecoin deposits into a complete productive capital stack covering dollars, Bitcoin, fixed-income, trust, and institutional allocation.

These collaborations among alliance members are already in motion, and deepening. More than 10 alliance members have jointly published an industry perspective report on the state and future of RealFi, setting a shared framework for how onchain finance can move from fragmented tokenization to productive capital at scale. On the product side, R25 Protocol, TopNod, and Ember Protocol (from previous cohorts) are advancing real yield product designs, translating institutional-grade strategies into accessible onchain experiences for users. TermMax is working with Ember Protocol to channel fixed-income strategies into accessible onchain yield products, while Tulipa Capital is leveraging Circle’s USDC for its settlement strategies. These efforts reflect a deliberate shift, that is alliance members are no longer operating as parallel partners, but converging into a tightly coordinated network where research, products, and infrastructure compound on one another. More integrations across alliance members are underway, with additional product launches to come.

“Tokenization without utility is just a database entry.” said Wish Wu, Co-Founder & CEO of Pharos. “What the industry needs now is the productive capital infrastructure around those assets like settlement, Bitcoin liquidity, fixed-income, trust, and institutional allocation working as one stack. That is exactly what this cohort of partners is building together.”

The RealFi Alliance continues to expand as a coalition of the infrastructure providers, asset issuers, and financial applications shaping the future of onchain finance. Previous cohorts include Chainlink, Centrifuge, Faroo, Amber Group, LI.FI Protocol, Vishwa, Agra, Dune Analytics, Anchorage Digital, and others, bringing institutional assets, DeFi players, cross-chain infrastructure, intelligence and data access that established the foundational layer of the RealFi ecosystem. Explore the full RealFi Alliance and the growing list of partners at https://www.pharos.xyz/realfi-alliance.

About Pharos Network

Pharos is a financial and AI Layer 1 built for RealFi. It delivers the compliant infrastructure needed for institutional assets and internet-scale capital markets.

Designed to coordinate real-world financial activity onchain, Pharos combines deep-parallel execution (SALI engine), modular SPNs, and protocol-level compliance infrastructure, integrating ZK-KYC / AML mechanisms, AsyncBFT consensus, native AI agent support (X402 protocol), and dualVM (EVM + WASM compatibility), to support RWAs, stablecoins, cross-border settlement, onchain yield markets, and agent-mediated commerce at internet scale.

The network is supported by strategic partners across the global financial stack, including Circle, Chainlink, Anchorage Digital, Morpho, and Centrifuge, connecting regulated capital markets with onchain liquidity venues where real-world assets can be actively deployed into real-yield-generating strategies.

Built by former Ant Group leadership and engineers, backed by leading global investors across TradFi and crypto, including Sumitomo Corporation, Flow Traders, SNZ, Hack VC, and Faction VC, Pharos is developing the infrastructure layer for the next era of programmable finance and the agentic economy.

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