🚨 Just In: 🇺🇸 US SEC Publishes Grayscale’s Digital Large Fund Cap Filing In Federal Register ⚖️

The US SEC has published Grayscale's Digital Large Fund Cap filing in the federal register, which officially initiates the review process.

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🪙 Bitcoin's Groundbreaking Role in UK Pension Schemes

🌍 A UK pension scheme has made a historic move by allocating 3% of its portfolio to bitcoin, aiming for diversification and potential long-term growth amidst economic challenges. This pioneering investment was announced by Cartwright, a specialist in defined benefit and hybrid schemes, marking the first of its kind in the UK.

📅 The allocation occurred in October after a thorough training and due diligence process. The trustees of the unnamed scheme chose a 3% bitcoin allocation to align with the scheme's long-term investment horizon. Cartwright explained that bitcoin's asymmetric return profile allows for a small allocation to potentially yield significant gains, supported by strong risk management at both the scheme and asset levels.

🗣 Sam Roberts, Cartwright's director of investment consulting, stated,

Trustees are increasingly looking for innovative solutions to future-proof their schemes in the face of economic challenges. This bitcoin allocation is a strategic move that not only offers diversification but also taps into an asset class with a unique asymmetric risk-return profile.

He emphasized that integrating bitcoin into a pension scheme's investment strategy is a bold step reflecting the forward-thinking nature of the involved trustees.

🌐 Steve Robinson, Cartwright's head of investment implementation, highlighted the importance of security in their approach. He explained,

By combining a highly secure custodial solution with a mechanism to quickly trim profits as they arise, we've opened the door for risk-averse pension schemes and other institutional investors to benefit from bitcoin's potential growth whilst managing volatility within a secure strategic framework.

This solution features a low minimum investment threshold, making it accessible to pension schemes of various sizes.

🔒 Robinson noted that this approach integrates bitcoin into a traditionally conservative sector, aiming to deliver long-term value to scheme members and reduce dependence on employer contributions through secure custodial practices.

🚀 60% In 3 Days: Here’s Why Cronos Price Is Surging 📈

Cronos price jumps 60% in 3 days after releasing an ambitious 2025 roadmap and new partnerships. Is $1 next, or will the rally fade?

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🇺🇸 El Salvador's President Bukele Discusses Trump's Victory and Shared Ambitions

📞 El Salvador's President Nayib Bukele recently revealed details of his phone conversation with U.S. President-elect Donald Trump. The discussion covered various topics, including Trump's recent electoral victory, a near-death experience, and their common goals.

I congratulated him on his sweeping victory on Tuesday, and we discussed the strong mandate he received from the American people and the significance his election holds for the world,

Bukele stated. He further elaborated on their conversation, mentioning

his podcast strategy, the bullet that nearly killed him, the sometimes harmful effects of U.S. aid funds, Soros-backed NGOs, and our shared commitment to tackling the challenges ahead.

🗳 Trump won the presidential election on November 5, defeating Vice President Kamala Harris. This victory marks his return to the White House after his previous term. Additionally, over 280 pro-crypto candidates secured seats in Congress, indicating a growing legislative support for digital assets and blockchain technology.

💰 While Bukele did not confirm discussions about cryptocurrency, both leaders share a passion for bitcoin. Trump has expressed his intention to position the U.S. as a global leader in cryptocurrency and has suggested including bitcoin in national reserves. He has also launched four non-fungible token (NFT) collections and supported the establishment of World Liberty Financial (WLF), a platform aimed at transforming the financial sector through decentralized services.

🌍 In 2021, Bukele's government made El Salvador the first country to adopt bitcoin as legal tender to enhance financial inclusion and attract foreign investment. Since then, the government has actively acquired BTC and promoted initiatives like the upcoming "Bitcoin City," a tax-free zone powered by geothermal energy from the Conchagua volcano to stimulate bitcoin-driven economic growth.

🇦🇷 Latam Insights: Key Crypto and Economic Developments in Latin America

📞 El Salvador's President Nayib Bukele recently shared insights from his phone call with U.S. President-elect Donald Trump. The conversation covered various topics of mutual interest, including Trump's recent electoral victory and its global implications. Bukele stated,

I congratulated him on his sweeping victory on Tuesday, and we discussed the strong mandate he received from the American people and the significance his election holds for the world.

He also mentioned discussions about Trump's podcast strategy, U.S. aid funds, and their shared commitment to addressing upcoming challenges.

✂️ In Argentina, President Javier Milei's 'Deep Chainsaw' initiative has resulted in significant job cuts. The program aims to reduce bureaucratic excesses and has reportedly eliminated over 33,000 positions. Milei emphasized the importance of reducing public spending to alleviate the tax burden, stating,

the only sustainable way to reduce the tax burden is by reducing public spending.

Additionally, over 10,000 employees may retire before 2025, and 40,000 temporary contracts are set to expire this year. This initiative has impacted key institutions, including the national coin house and the tax authority, with potential privatization of more state companies.

👁 Meanwhile, the eye-scanning identification project, World, is facing scrutiny from Chilean authorities. The company recently transitioned from Worldcoin to World and announced plans to implement domiciliary eye-scanning activities in Latin America. These activities involve bringing verification devices, referred to as orbs, to citizens' homes. However, the Chilean consumer protection agency, SERNAC, has expressed concerns and is seeking to suspend World’s operations in the country. SERNAC is also investigating the role of Rappi, a delivery platform partnering with World, in facilitating these activities. Traditionally, users had to visit designated locations to use the orbs for verification.

🚀 Bitcoin Price Hits $85K, Sets New ATH 🔥

As of November 11, the Bitcoin (BTC) price has reached an ATH of $85,000. This has become a significant movement for the cryptocurrency.

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💰 Bitwise's Bitcoin Predictions: $500K as a Maturity Threshold and $1M as a Possibility

📈 Matt Hougan, the chief investment officer at Bitwise Asset Management, recently shared his insights on bitcoin's future in a blog post. He emphasized that while bitcoin has seen significant price increases, it is still in its "early" stages until it reaches $500,000. He stated,

It’s no longer the first inning. But until bitcoin hits $500K, it’s still early.

📊 Hougan pointed out that bitcoin has experienced a 100% increase this year but acknowledged the possibility of price volatility. He expressed optimism for further growth, suggesting that $100,000 could be "right around the corner." He reassured investors that there is still time to enter the market for long-term gains.

💡 He defined $500,000 as a crucial point for bitcoin’s maturity, stating:

In my view, $500K per coin is the correct demarcation between early and late, for a very simple reason: It marks the point where bitcoin would be ‘mature.'

This perspective is based on bitcoin's potential to achieve a status similar to gold in the store-of-value market.

🌍 Hougan explained the reasoning behind the $500K target:

Today gold is an $18 trillion market, and bitcoin is roughly $2 trillion. That puts the store of value market at roughly $20 trillion. A mature bitcoin would at a minimum share this market equally with gold.

He noted that there are about 20 million bitcoins in circulation, with one million more expected to be issued over the next century.

📈 He further elaborated that when bitcoin reaches a valuation of $500,000 per coin, it would represent about half of the store-of-value market, equivalent to gold’s share. He stated,

Until then, it’s still early.

🚀 Looking beyond the $500K threshold, Hougan predicted even greater heights. He said,

But ultimately I think we will go higher. My $500K target is based on bitcoin eating into gold’s market share, when, in reality, I think it will actually grow the overall market.

He suggested that as governments increase debt and currency production, the market may expand, inflating the value of stores like bitcoin.

💬 He concluded with an optimistic outlook:

Could we see $1 million bitcoin? Higher? Absolutely. But $500K feels like a good start.

Hougan's comments reflect a belief in bitcoin’s transformative potential as interest from institutions and governments in cryptocurrency continues to rise.

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🚀 Ripple CEO Predicts Major Changes in U.S. Cryptocurrency Landscape

🌟 Ripple CEO Brad Garlinghouse has expressed optimism about the future of cryptocurrency in the U.S., anticipating a shift in the regulatory landscape following the election of President-elect Donald Trump.

We finally have a crypto president. The crypto industry has embraced Trump. Trump has embraced the crypto industry. I think it’s very genuine,

Garlinghouse stated in an interview with Fox Business.

📈 He highlighted that this new environment could end years of stringent oversight by the U.S. Securities and Exchange Commission (SEC), unlocking significant growth potential for the industry. Garlinghouse pointed to XRP’s remarkable performance as an indicator of the sector’s renewed strength.

XRP’s up 70 plus percent since election day. The best-performing crypto assets are all U.S. companies or U.S. technologies,

he noted. He attributed this surge to the reduction of regulatory pressure from the SEC.

💰 Garlinghouse mentioned the market's rebound, stating,

We went from 2.2 trillion to basically three trillion. So this was an 800 billion dollar unlock.

He also praised Robinhood for re-listing XRP, viewing it as a recognition of the shifting landscape. Reflecting on a recent lawsuit by 18 Republican attorneys general against the SEC for overreach, he remarked,

Welcome to the party.

💪 Looking ahead, Garlinghouse expressed confidence in a future where crypto innovation can flourish without excessive regulation. He concluded,

We got to get away from regulation through enforcement … It’s a totally new day, and I could not be happier.

😳 Google’s AI Chatbot Tells Student to ‘Please Die’ While Offering Homework Assistance 🤖

Google’s AI chatbot, Gemini told a Michigan student to “Please die” during a homework session, raising serious safety concerns.

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⚖️ Ripple CEO Critiques SEC Chair Candidate Amid Regulatory Concerns

🚨 Brad Garlinghouse, the CEO of Ripple, has voiced strong opposition to the potential appointment of Caroline Stebbins as the next Chair of the U.S. Securities and Exchange Commission (SEC). He argues that her selection could be detrimental to the cryptocurrency industry.

In a group of strong candidates for SEC Chair, it’s unconscionable to consider someone directly involved in Bill Hinman’s unethical (likely illegal) push to pick winners and losers in crypto,

Garlinghouse stated on social media. He emphasized that choosing Stebbins would revert the industry back to an era of regulation through enforcement.

🔄 This criticism arises as current SEC Chair Gary Gensler is expected to step down after Thanksgiving, with reports indicating he may leave before President-elect Donald Trump’s inauguration. Trump has promised to remove Gensler immediately, sparking speculation about the agency's future leadership.

👥 Among the candidates being considered for the SEC Chair position are Paul Atkins, Dan Gallagher, Brad Bondi, and Bob Stebbins. Atkins and Gallagher are viewed as more favorable to the industry, while Stebbins faces backlash from crypto advocates due to her involvement in controversial enforcement actions, particularly the ongoing Ripple case. John Reed Stark, former head of the SEC’s Internet Enforcement division, has cautioned against some candidates, warning of potential risks associated with weaker oversight. Crypto supporters are hopeful that new leadership will lead to clearer and less punitive regulatory policies.

📜 William “Bill” Hinman, a former SEC official, has been criticized for his 2018 speech that suggested ether (ETH) was not a security, while leaving other cryptocurrencies like XRP without similar clarity. This has fueled accusations that he was biased in favor of certain digital assets.

⚖️ Ripple has been embroiled in a lawsuit with the SEC since 2020, facing allegations that its XRP token sales constituted unregistered securities offerings. A partial ruling in favor of Ripple was issued by a judge in 2023, but the SEC has appealed parts of this decision, keeping the case ongoing and pivotal for the future of crypto regulation.

🌅 Despite these challenges, Garlinghouse is optimistic about a transformative shift for cryptocurrency in the U.S. He attributes this potential change to expected easing of regulatory oversight under President-elect Trump, whom he describes as a crypto-friendly leader who supports innovation and entrepreneurship. Garlinghouse believes this could mark the end of restrictive SEC practices and herald a new era for crypto innovation, urging a move away from regulation by enforcement.

🗣️ Indian Official Expresses Skepticism Towards Cryptocurrency

🚫 M. Nagaraju, the Secretary of India’s Department of Financial Services, voiced his strong doubts about cryptocurrencies during the SBI Banking & Economics Conclave on November 18, 2024. He stated,

I am very skeptical of cryptocurrency — not now, not after becoming the financial secretary. Even as an individual also, I am very doubtful of the entire scheme of cryptocurrency.

His skepticism reflects the Reserve Bank of India’s (RBI) ongoing concerns regarding the legitimacy and financial risks associated with digital currencies.

🔄 India's stance on cryptocurrency regulation has evolved significantly. Following the Supreme Court's 2020 decision to overturn the RBI’s 2018 ban on crypto transactions, the government introduced a 30% tax on virtual asset gains and a 1% tax deducted at source (TDS) on transfers. The Indian Financial Intelligence Unit (FIU) has registered numerous crypto service providers and imposed fines on several offshore exchanges, including Binance, for anti-money laundering violations. In contrast, the Securities and Exchange Board of India (SEBI) has suggested a multi-regulatory framework, differing from the RBI’s call for stricter controls.

🌍 Finance Minister Nirmala Sitharaman has stressed the importance of international collaboration in addressing crypto challenges. During India’s G20 presidency in 2023, the country spearheaded discussions on developing a synthesis paper to guide global regulatory efforts.

📈 Despite these regulatory hurdles, India continues to lead in cryptocurrency adoption, ranking first in Chainalysis’ 2024 Global Crypto Adoption Index. Earlier this month, investment firm Bernstein urged India to consider bitcoin as a strategic reserve asset. They argued that India's current emphasis on central bank digital currencies (CBDCs) and its classification of bitcoin as a “private currency” overlook BTC’s essential role as a “store of value.”

🚨 Breaking: Ripple Announces First Tokenized Money Market Fund on XRP Ledger 📢

Ripple announces first tokenized money market fund on XRP Ledger in partnership with crypto exchange Archax and UK asset manager abrdn.

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💰 Is It Too Late to Invest in Bitcoin?

🚀 Bitcoin is gaining mainstream attention due to rising prices and increasing adoption by nations and corporations. Currently priced just under $100,000, it has reached new all-time highs recently. However, this price point is seen as a barrier indicating market hesitation about further increases.

While it is generally inadvisable to purchase an asset at its highest price, bitcoin might be an exception

due to its favorable outlook and inherent advantages like pseudonymity and scarcity.

📈 Some analysts predict even higher bitcoin prices in the future. Rick Wurster, the incoming CEO of Charles Schwab Corp, expressed regret for not investing earlier, stating,

I have not bought crypto, and now I feel silly.

💼 Corporate demand for crypto is also increasing. For instance, Microstrategy recently completed a $3 billion convertible senior notes offering, demonstrating private investors' confidence in its bitcoin accumulation strategy.

🌍 The upcoming U.S. bitcoin policies could significantly impact global perceptions of crypto. Reports suggest that Chinese President Xi Jinping may reconsider China's anti-crypto stance due to President-Elect Trump's position on the matter.

If China backpedals on its anti-crypto policy, it would mean opening a market of 1.4 billion people eager to find new investment assets.

🔮 While the future is uncertain, analysts generally agree that bitcoin's prospects look promising. Although the opportunity for 100,000 X gains may be gone, there is still potential for profit in bitcoin investments, despite expected volatility.

🪙 Hong Kong's Tax Break Proposal for Cryptocurrency Investments

🏦 Hong Kong is seeking to position itself as a global financial hub by proposing tax exemptions for hedge funds, private equity funds, and affluent individuals investing in cryptocurrencies. The proposed measures also extend to gains from private credit investments and other assets.

📄 A 20-page document circulated by Hong Kong authorities outlines the rationale behind these proposals and their alignment with the objectives of asset managers looking to establish operations in the region. This move comes as investors evaluate the potential impact of a Donald Trump presidency on the cryptocurrency landscape.

“This is an important step in boosting Hong Kong’s status as a financial and crypto trading hub,”

said Patrick Yip, vice chair and international tax partner at Deloitte China. If implemented, these proposals could attract wealthy Chinese individuals setting up private investment vehicles outside the mainland.

🌍 Hong Kong aims to compete with Singapore and Luxembourg in terms of fund launches. UBS CEO Sergio Ermotti predicts that Hong Kong’s advancements may surpass Switzerland as the world’s leading wealth management hub.

⚠️ U.S. Regulators' Subtle Squeeze on the Crypto Market

🗣️ Stuart Alderoty, Ripple's chief legal officer, has raised concerns about a deliberate effort by U.S. regulators to undermine the cryptocurrency industry. He likened this to "Operation Chokepoint 2.0," a recent initiative aimed at limiting banking services for crypto-related businesses. Alderoty drew parallels to a 2012 campaign where agencies like the FDIC and Federal Reserve pressured banks to withdraw support from certain sectors, such as gun retailers.

📅 He pointed out significant events that illustrate this trend. In January 2021, the Biden administration repealed the Fair Access to Banking Rule, which aimed to ensure equal financial access. Later that year, the OCC required banks to obtain pre-approval for cryptocurrency activities. The FDIC followed with its own directives in April 2022. In early 2023, major regulatory bodies issued warnings about "crypto risks," suggesting a deeper agenda despite stating that banks were not explicitly prohibited from serving crypto clients.

🔍 Alderoty, drawing from his experience as a former bank general counsel, interpreted these warnings as a covert message:

‘Don’t even think about it.'

He argued that such language serves as a deterrent, discouraging financial institutions from engaging with crypto businesses. He framed these actions as part of a larger strategy to marginalize the cryptocurrency sector under the pretext of regulatory caution.

🚨 This sentiment is echoed by other industry leaders. Marc Andreessen, co-founder of Andreessen Horowitz, noted that over 30 tech and crypto founders have been "debanked" in the past four years, forcing some to relocate or shift industries. Tyler Winklevoss, co-founder of Gemini, described "Operation Chokepoint 2.0" as a "coordinated conspiracy by government officials to persecute their political opponents by debanking them," calling it an ongoing federal crime that should be prosecuted.

🔥 Breaking: WisdomTree Files S-1 For XRP ETF With US SEC ⚖️

WisdomTree has taken a step forward for XRP ETF fund approval with its recent S-1 filing with the US SEC, sparking market optimism.

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