Happy Wednesday all! If you missed the past 24 hours in crypto and stocks, here’s your full recap:
🚨 Major Headlines & Market Moves 🚨
→ Texas becomes the first state to purchase Bitcoin, investing $5 million in BlackRock’s spot Bitcoin ETF, with $10 million allocated.
→ Metaplanet raised $130 million using Bitcoin as collateral to buy more Bitcoin.
→ Congressman Warren Davidson says the US can fund the Strategic Bitcoin Reserve by accepting tax payments in Bitcoin.
→ Small businesses can now accept Bitcoin like a card with zero processing fees via Square.
→ JPMorgan says cryptocurrency is emerging as a tradable macro asset.
→ Odds of a 25 basis points Federal Reserve rate cut in December surpass 85%.
→ Deutsche Bank expects the Fed to cut rates by 25 basis points in December.
→ Fed Governor says the US economy calls for large interest rate cuts.
→ Kevin Hassett is now President Trump’s top choice to replace Jerome Powell as Federal Reserve Chair.
→ Elon Musk’s xAI reportedly raising $15 billion at $230 billion valuation.
→ Nvidia set to lose $180 billion as Meta considers Google chips.
→ Kalshi CEO says prediction markets could rival stock exchanges in a few years.
→ Cryptocurrency markets heading toward record monthly outflow exceeding $6 billion.
→ US home prices rose 1.3% over the last year, the slowest appreciation in over two years.
→ The Federal Government took in $404 billion in October and spent $689 billion.
→ The US collected a record $31 billion in customs duties in October, over 4 times higher than the same month in 2024.
→ Producer prices in the US rose 4.6% per year over the last 5 years and over 25% in total.
→ The US money supply grew 4.6% over the last year, the biggest year-over-year increase since July 2022.
→ Alibaba reported revenue of $34.8 billion, up 5% year-over-year, with cloud up 34%.
→ Dell Technologies reported revenue of $27.0 billion, with record AI server orders.
📊 Altcoin Market Updates 📊
→ Franklin Templeton files for spot Solana ETF.
→ Solana co-founder says the unbroken streak of daily inflows to the Solana ETF is greatly underappreciated.
→ Franklin Templeton says XRP plays a foundational role in global settlement infrastructure.
→ Theros forms an exclusive JV to offer token-backed loans and AI lending simulations.
→ Unit announces spot Ethena deposits, withdrawals, and trading now live on Hyperliquid.
→ Klarna introduces KlarnaUSD, its first stablecoin.
→ Russia expands investment options for crypto-linked assets.
→ Polymarket secures CFTC approval to operate fully as an exchange for US retail users and brokerages.
If you enjoyed this daily roundup, make sure to follow me – I’ll see you tomorrow.
Credit to the following X accounts for key insights & updates: @whaleinsider @bitcoinmagazine @watcherguru
@degeneratenews @charliebilello @economyapp @earnings_time
$BTC $ETH $SOL $XRP $SPX500
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Written by Timothy Assi, an Elite Popular Investor on eToro.
Not investment advice. eToro is a multi-asset investment platform. Your capital is at risk. For information and educational purposes only.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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