ZCASH SURPASSES HYPE IN MARKET CAP: INFINITYHEDGE
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The Week Ahead: infinityhedge
Mon:
*Longest U.S. Gov shutdown enters its 41th day
*Saylor expected announce another BTC purchase
*CBOE to launch continuous futures contracts for BTC & ETH
*Coinbase to launch some Launchpad or something
Wed:
*Fed’s Barr, Williams, Waller, Paulson speaks
*Circle earnings
Thu: Fed’s Hammack speaks
TBA/Whole Week:
*All eyes will also be on whether U.S. lawmakers can agree to end shutdown.
*US Supreme Court hears arguments on Trump’s tariffs (IEEPA) continues *U.S. Gov data expected to be delayed due to the shutdown.
BE: Even if the gov were to reopen, it’s unlikely BLS would be able to collect & process data for both the Oct. and Nov. CPI reports ahead of the Dec FOMC meeting.
ICYMI:
⊷ Borrowing to fund Al datacenter exploded in Sept & Oct; BofA data shows $75B of U.S. investment grade debt issued by AI-focused Big Tech hit the market in Sept. & Oct. alone, more than double the sector’s average annual issuance of $32B btw 2015-2024. Plus A surge in Oracle credit default swaps shows investors are worried about the U.S. tech giant’s debt levels. Microsoft's Longest Selloff Since 2011; Meta Tumbles Most Since 2022 Metaverse Selloff. Also OpenAI Asks US to Expand Chips Tax Credit to AI Data Centers: infinityhedge
⊷ CFTC’s Pham Moves to Launch Spot Crypto Trading Without Congress as soon as next month. Pham has held talks with CFTC-regulated DCMs exchanges like CME, Cboe Futures, ICE Futures, Coinbase Derivatives, Kalshi and Polymarket US, about launching spot crypto trading products involving margin, leverage, and financing.
⊷ U.S. Senate on Sunday moved forward on a measure aimed at reopening gov. Senate adjourned until Monday & has not yet scheduled a vote for final passage. House also needs to approve the measure, House passage is not guaranteed. It’s not yet clear how quickly the shutdown can end. Senate will need the consent of all members to end the shutdown quickly. Any one senator can force days of procedural delays. Prediction Markets expecting shutdown will end btw 12-15th Nov with 80% odds.
⊷ The combined amount of crypto loans reached $73.6B in the 3Q, surpassing the previous record of $69.4B set in the 4Q of 2021.
⊷ China’s central bank purchased gold for its reserves for a 12th straight month.
https://infinityhedge.substack.com/p/the-7-days-9c0
Mon:
*Longest U.S. Gov shutdown enters its 41th day
*Saylor expected announce another BTC purchase
*CBOE to launch continuous futures contracts for BTC & ETH
*Coinbase to launch some Launchpad or something
Wed:
*Fed’s Barr, Williams, Waller, Paulson speaks
*Circle earnings
Thu: Fed’s Hammack speaks
TBA/Whole Week:
*All eyes will also be on whether U.S. lawmakers can agree to end shutdown.
*US Supreme Court hears arguments on Trump’s tariffs (IEEPA) continues *U.S. Gov data expected to be delayed due to the shutdown.
BE: Even if the gov were to reopen, it’s unlikely BLS would be able to collect & process data for both the Oct. and Nov. CPI reports ahead of the Dec FOMC meeting.
ICYMI:
⊷ Borrowing to fund Al datacenter exploded in Sept & Oct; BofA data shows $75B of U.S. investment grade debt issued by AI-focused Big Tech hit the market in Sept. & Oct. alone, more than double the sector’s average annual issuance of $32B btw 2015-2024. Plus A surge in Oracle credit default swaps shows investors are worried about the U.S. tech giant’s debt levels. Microsoft's Longest Selloff Since 2011; Meta Tumbles Most Since 2022 Metaverse Selloff. Also OpenAI Asks US to Expand Chips Tax Credit to AI Data Centers: infinityhedge
⊷ CFTC’s Pham Moves to Launch Spot Crypto Trading Without Congress as soon as next month. Pham has held talks with CFTC-regulated DCMs exchanges like CME, Cboe Futures, ICE Futures, Coinbase Derivatives, Kalshi and Polymarket US, about launching spot crypto trading products involving margin, leverage, and financing.
⊷ U.S. Senate on Sunday moved forward on a measure aimed at reopening gov. Senate adjourned until Monday & has not yet scheduled a vote for final passage. House also needs to approve the measure, House passage is not guaranteed. It’s not yet clear how quickly the shutdown can end. Senate will need the consent of all members to end the shutdown quickly. Any one senator can force days of procedural delays. Prediction Markets expecting shutdown will end btw 12-15th Nov with 80% odds.
⊷ The combined amount of crypto loans reached $73.6B in the 3Q, surpassing the previous record of $69.4B set in the 4Q of 2021.
⊷ China’s central bank purchased gold for its reserves for a 12th straight month.
https://infinityhedge.substack.com/p/the-7-days-9c0
Substack
The 7 days
Week Ahead:
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WORLD’S BIGGEST STABLECOIN COMPANY TETHER HIRES TOP HSBC GOLD TRADERS TO TAKE ON BULLION MARKET
Tether holds more than $12B in gold reserves, added gold holdings at an avg. rate of more than one ton/week in the year through september.
Tether earned $13B in profits last year from reserve assets, expects $15B in 2025.
FYI: Tether also held talks about investing in the entire gold supply chain, from mining and refining to trading and royalty companies according to FT.
Tether holds more than $12B in gold reserves, added gold holdings at an avg. rate of more than one ton/week in the year through september.
Tether earned $13B in profits last year from reserve assets, expects $15B in 2025.
FYI: Tether also held talks about investing in the entire gold supply chain, from mining and refining to trading and royalty companies according to FT.
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WHITE HOUSE: OCTOBER CPI AND JOBS DATA LIKELY NEVER TO BE RELEASED
“The Democrats may have permanently damaged the federal statistical system with October CPI and jobs reports likely never being released,” Leavitt told reporters at a news briefing.
“The Democrats may have permanently damaged the federal statistical system with October CPI and jobs reports likely never being released,” Leavitt told reporters at a news briefing.
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DECEMBER RATE CUT ODDS DROPS TO 50% VS 65% BEFORE THE LEAVITT COMMENT: INFINITYHEDGE
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The Week Ahead: infinityhedge
Week Ahead: Shutdown ends, Epstein returns
Mon:
*Saylor expected announce another BTC purchase (“we’ll report our next buys on Monday morning. I think people will be pleasantly surprised”)
*Crypto: AAVE’s announcement (unknown)
*Monad ICO on Coinbase’s New platform
*Fed’s Kashkari speaks (Didn’t Support Last Cut, Undecided on Dec.)
Tue:
*Earnings: Baidu
*U.S. House plans to vote on releasing Epstein files
*Trump Remarks at McDonald’s Impact Summit
*Crypto: Filecoin’s announcement (Filecoin Onchain Cloud)
*Saudi Crown Prince Salman to meet Trump at WH, first trip in 7years.
Wed:
*US accounting standard-setter will discuss whether to tackle how companies should report crypto transfers in their financial reports.
*FOMC Minutes
*China interest rate announcement
Thu:
*U.S. Jobs report, first data since shutdown starts
*Fed’s Cook speaks
*Nvidia Q3, Walmart Earnings
Fri:
*Foxconn annual tech day: Nvidia and Apple supplier will showcase AI applications
*Fed’s Barr, Collins speaks
TBA/Whole Week: US Supreme Court hears arguments on Trump’s tariffs (IEEPA) continues; Investors will be looking for any evidence of weakness in the labor market or evidence that inflation is slowing. Several Fed members suggested rates could stay unchanged next month, December rate cut odds dropped below 50%; China vs Japan diplomatic war
ICYMI:
⊷ Berkshire Hathaway reveals $4.3B stake in Google as it trims Apple holdings.
⊷ BOE allows exceptions to stablecoin ownership limits; AND No, The EU Will Not Require ID For Every BTC Transaction.
⊷ US Lawmakers released a much-awaited crypto market structure bill.
⊷ Japan moves to reclassify crypto and adopt major tax relief, seeks to reduce the current maximum 55% tax on crypto gains to 20%; Also Japan Exchange Group weighs tighter oversight of listed DATs.
⊷ US most advanced aircraft carrier arrives in the Caribbean on Sunday, The Ford rounds off the largest buildup of U.S. firepower in the region in generations. With its arrival, the “Operation Southern Spear” mission includes nearly a dozen Navy ships & about 12k sailors and Marines.
https://infinityhedge.substack.com/p/the-7-days-6d5
Week Ahead: Shutdown ends, Epstein returns
Mon:
*Saylor expected announce another BTC purchase (“we’ll report our next buys on Monday morning. I think people will be pleasantly surprised”)
*Crypto: AAVE’s announcement (unknown)
*Monad ICO on Coinbase’s New platform
*Fed’s Kashkari speaks (Didn’t Support Last Cut, Undecided on Dec.)
Tue:
*Earnings: Baidu
*U.S. House plans to vote on releasing Epstein files
*Trump Remarks at McDonald’s Impact Summit
*Crypto: Filecoin’s announcement (Filecoin Onchain Cloud)
*Saudi Crown Prince Salman to meet Trump at WH, first trip in 7years.
Wed:
*US accounting standard-setter will discuss whether to tackle how companies should report crypto transfers in their financial reports.
*FOMC Minutes
*China interest rate announcement
Thu:
*U.S. Jobs report, first data since shutdown starts
*Fed’s Cook speaks
*Nvidia Q3, Walmart Earnings
Fri:
*Foxconn annual tech day: Nvidia and Apple supplier will showcase AI applications
*Fed’s Barr, Collins speaks
TBA/Whole Week: US Supreme Court hears arguments on Trump’s tariffs (IEEPA) continues; Investors will be looking for any evidence of weakness in the labor market or evidence that inflation is slowing. Several Fed members suggested rates could stay unchanged next month, December rate cut odds dropped below 50%; China vs Japan diplomatic war
ICYMI:
⊷ Berkshire Hathaway reveals $4.3B stake in Google as it trims Apple holdings.
⊷ BOE allows exceptions to stablecoin ownership limits; AND No, The EU Will Not Require ID For Every BTC Transaction.
⊷ US Lawmakers released a much-awaited crypto market structure bill.
⊷ Japan moves to reclassify crypto and adopt major tax relief, seeks to reduce the current maximum 55% tax on crypto gains to 20%; Also Japan Exchange Group weighs tighter oversight of listed DATs.
⊷ US most advanced aircraft carrier arrives in the Caribbean on Sunday, The Ford rounds off the largest buildup of U.S. firepower in the region in generations. With its arrival, the “Operation Southern Spear” mission includes nearly a dozen Navy ships & about 12k sailors and Marines.
https://infinityhedge.substack.com/p/the-7-days-6d5
Substack
The 7 days
Week Ahead: Shutdown ends, Epstein returns
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AMAZON SEEKS TO RAISE ABOUT $12
BILLION FROM US BOND OFFERING
AMAZON SELLS BONDS FOR FIRST TIME IN 3 YEARS WITH 6-PART OFFERING, 40-YEAR BOND PRICED AT 1.15% OVER TREASURIES
BILLION FROM US BOND OFFERING
AMAZON SELLS BONDS FOR FIRST TIME IN 3 YEARS WITH 6-PART OFFERING, 40-YEAR BOND PRICED AT 1.15% OVER TREASURIES
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DECEMBER RATE CUT ODDS DROPS TO 30% AFTER BLS RESCHEDULES JOBS REPORT TO DEC.
⊷ US NOV. JOBS REPORT RESCHEDULED FOR DEC. 16 (AFTER DEC. FOMC)
⊷ OCT. JOBS DATA WILL BE PUBLISHED WITH THE NOV. JOBS DATA
⊷ SEPT. JOBS DATA WILL BE PUBLISHED TOMORROW
UPDATE:
*DECEMBER RATE CUT ODDS NOW 50%
*US NOV. CPI REPORT RESCHEDULED FOR DEC. 18
*THERE WILL BE NO OCT. CPI
*OCT. NONSURVEY INFLATION DATA WILL BE PUBLISHED WITH THE NOV. CPI
⊷ US NOV. JOBS REPORT RESCHEDULED FOR DEC. 16 (AFTER DEC. FOMC)
⊷ OCT. JOBS DATA WILL BE PUBLISHED WITH THE NOV. JOBS DATA
⊷ SEPT. JOBS DATA WILL BE PUBLISHED TOMORROW
UPDATE:
*DECEMBER RATE CUT ODDS NOW 50%
*US NOV. CPI REPORT RESCHEDULED FOR DEC. 18
*THERE WILL BE NO OCT. CPI
*OCT. NONSURVEY INFLATION DATA WILL BE PUBLISHED WITH THE NOV. CPI
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NVIDIA 3Q EARNINGS PREVIEW: INFINITYHEDGE
*Consensus: Beat & Raise
*Rev. EST.: $54.92B
*EPS EST.: $1.26
*7.2% Implied move in either direction for stock, the options-implied move would represent the largest one-day market value change for Nvidia (~$320 billion price swing).
*1.7% Implied Move in either direction for SPX
*SPX realized moves have been below the options implied moves in 7 of the past 10 NVDA earnings events (very muted reaction in the last two earnings)
*According to JPMorgan the so-called whisper rev. numbers are even higher. "Survey says $56.32b (Q3) & $63.02b (Q4)": INFINITYHEDGE
Key focus:
*guidance for next quarter and beyond next quarter
*any note on health of the cash flow
*insights into the $500B Datacenter rev. forecast in combined orders for 2025 & 2026
*details about OpenAI deployments in terms of timing, rev. in CY26; Blackwell, Rubin ramp in CY26; about deal with Nokia, Intel investment and China licenses
*Consensus: Beat & Raise
*Rev. EST.: $54.92B
*EPS EST.: $1.26
*7.2% Implied move in either direction for stock, the options-implied move would represent the largest one-day market value change for Nvidia (~$320 billion price swing).
*1.7% Implied Move in either direction for SPX
*SPX realized moves have been below the options implied moves in 7 of the past 10 NVDA earnings events (very muted reaction in the last two earnings)
*According to JPMorgan the so-called whisper rev. numbers are even higher. "Survey says $56.32b (Q3) & $63.02b (Q4)": INFINITYHEDGE
Key focus:
*guidance for next quarter and beyond next quarter
*any note on health of the cash flow
*insights into the $500B Datacenter rev. forecast in combined orders for 2025 & 2026
*details about OpenAI deployments in terms of timing, rev. in CY26; Blackwell, Rubin ramp in CY26; about deal with Nokia, Intel investment and China licenses
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NVIDIA EARNINGS 3Q: INFINITYHEDGE
*ADJ EPS $1.30
*REV. $57.01B, EST. $55.19B
*ADJ GROSS MARGIN 73.6%
*DATA CENTER REV. $51.2B, EST. $49.34B
*NVIDIA SEES 4Q REV. $63.70B TO $66.30B, EST. $61.98B
NVIDIA EARNINGS CALL:
*REITERATES $500B REVENUE THROUGH THE END OF 2026: "We currently have visibility to $500B in Blackwell & Rubin rev. from the start of this year through the end of Calendar Year 2026... Demand for AI infra continues to exceed our expectations" ($150B already shipped so $350B+ revenue expected for 2026)
*China: "Sizable purchase orders never materialized in the quarter due to geopolitical issues and the increasingly competitive market in China"
*GPU Lifespan: "Thanks to CUDA, the A100 GPUs we shipped six years ago are still running at full utilization today"
*Rubin: The Rubin platform is on track to ramp in the 2nd half of 2026. Powered by seven chips.
*GPUs Sold Out: "The clouds are sold out, and our GPU installed base, both new & previous generations, including Blackwell, Hopper, and Ampere, is fully utilized.... Every stood-up GPU is taken."
*AI bubble: "There has been a lot of talk about an AI bubble. From our vantage point, we see something very different... Accelerated Computing has reached a tipping point. Secondly, AI has also reached a tipping point & is transforming existing applications while enabling entirely new ones."
*ADJ EPS $1.30
*REV. $57.01B, EST. $55.19B
*ADJ GROSS MARGIN 73.6%
*DATA CENTER REV. $51.2B, EST. $49.34B
*NVIDIA SEES 4Q REV. $63.70B TO $66.30B, EST. $61.98B
NVIDIA EARNINGS CALL:
*REITERATES $500B REVENUE THROUGH THE END OF 2026: "We currently have visibility to $500B in Blackwell & Rubin rev. from the start of this year through the end of Calendar Year 2026... Demand for AI infra continues to exceed our expectations" ($150B already shipped so $350B+ revenue expected for 2026)
*China: "Sizable purchase orders never materialized in the quarter due to geopolitical issues and the increasingly competitive market in China"
*GPU Lifespan: "Thanks to CUDA, the A100 GPUs we shipped six years ago are still running at full utilization today"
*Rubin: The Rubin platform is on track to ramp in the 2nd half of 2026. Powered by seven chips.
*GPUs Sold Out: "The clouds are sold out, and our GPU installed base, both new & previous generations, including Blackwell, Hopper, and Ampere, is fully utilized.... Every stood-up GPU is taken."
*AI bubble: "There has been a lot of talk about an AI bubble. From our vantage point, we see something very different... Accelerated Computing has reached a tipping point. Secondly, AI has also reached a tipping point & is transforming existing applications while enabling entirely new ones."
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SEPT. NFP PREVIEW: INFINITYHEDGE
CONSENSUS: 55K
HIGH: 105K
LOW: 25K
GS: 80K
JPM: 50k
S&P 500 reaction:
>100k: flat to -1.5%
70k-100k: ±0.5%
0k-70k: +0.2% to 1%
< 0k: flat to -1%
*SPX implied move: ~1.40%
*GS: weaker news will be taken as evidence that the jobs market was already soft, but better news will only provide limited reassurance given weakness in some more recent data in October. NVDA earnings are a larger catalyst for large cap equities than the NFP release
CONSENSUS: 55K
HIGH: 105K
LOW: 25K
GS: 80K
JPM: 50k
S&P 500 reaction:
>100k: flat to -1.5%
70k-100k: ±0.5%
0k-70k: +0.2% to 1%
< 0k: flat to -1%
*SPX implied move: ~1.40%
*GS: weaker news will be taken as evidence that the jobs market was already soft, but better news will only provide limited reassurance given weakness in some more recent data in October. NVDA earnings are a larger catalyst for large cap equities than the NFP release
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US SEPT. NFP: 119K
US SEPT. UNEMPLOYMENT RATE 4.4%
US JULY PAYROLLS REVISED TO 72K FROM 79K
US AUG. PAYROLLS REVISED TO -4K FROM 22K
US SEPT. TWO-MONTH PAYROLL NET REVISION SUBTRACTS 33K
FED SWAPS CONTINUE TO INDICATE DECEMBER RATE CUT UNLIKELY: INFINITYHEDGE
BE: “Sept. NFP didn’t strengthen the case for a Dec. rate cut...Hiring likely slid in Oct. and Nov. – but those data won’t be released until Dec. 16, so the Sept. report is the only official jobs data FED will have at the Dec. 9-10 FOMC meeting. Based on the strength of September’s payrolls and the delays to subsequent data, we see increasing risks of a rate hold in December.”....."the Beige Book may once again be the determining factor for December cut."
US SEPT. UNEMPLOYMENT RATE 4.4%
US JULY PAYROLLS REVISED TO 72K FROM 79K
US AUG. PAYROLLS REVISED TO -4K FROM 22K
US SEPT. TWO-MONTH PAYROLL NET REVISION SUBTRACTS 33K
FED SWAPS CONTINUE TO INDICATE DECEMBER RATE CUT UNLIKELY: INFINITYHEDGE
BE: “Sept. NFP didn’t strengthen the case for a Dec. rate cut...Hiring likely slid in Oct. and Nov. – but those data won’t be released until Dec. 16, so the Sept. report is the only official jobs data FED will have at the Dec. 9-10 FOMC meeting. Based on the strength of September’s payrolls and the delays to subsequent data, we see increasing risks of a rate hold in December.”....."the Beige Book may once again be the determining factor for December cut."
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BITCOIN DROPS BELOW $82,000 FOR THE FIRST TIME IN SEVEN MONTHS
ETH DROPS BELOW $2,700 FOR THE FIRST TIME IN ALMOST FIVE MONTHS
CRYPTO MARKET DROPS TO $2.5T; ALTCOIN MARKET CAP DROPS BELOW $900B: INFINITYHEDGE
ETH DROPS BELOW $2,700 FOR THE FIRST TIME IN ALMOST FIVE MONTHS
CRYPTO MARKET DROPS TO $2.5T; ALTCOIN MARKET CAP DROPS BELOW $900B: INFINITYHEDGE
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MORE THAN $2 BILLION IN CRYPTO POSITIONS LIQUIDATED IN THE LAST 24 HOURS: INFINITYHEDGE
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The Week Ahead: infinityhedge
Mon:
*Monad Mainnet
*Grayscale's DOGE & XRP ETF starts trading
*Singapore Exchange will launch BTC and ETH perp future
*Saylor expected announce another BTC purchase (at 91k?)
Tue:
*Alibaba earnings
*MegaETH Pre-Deposit Bridge: USDC on ETH→ USDm on Mainnet (Frontier), $250M cap.
*U.S. Sept. retail sales, PPI
Wed:
*U.K. budget (expected tax rises)
*Fed’s Beige Book
Thu: Thanksgiving
Fri:
*International Buy Nothing Day
*Black Friday
TBA/Whole Week:
⊷ Zelenskiy-Trump Potential Meeting (U.S. tells Ukraine: Take the peace deal - or else will cut off intelligence sharing & weapons supplies)
⊷ US Supreme Court hears arguments on Trump’s tariffs (IEEPA) continues
⊷ December rate cut odds back above 60%
⊷ China vs Japan diplomatic war continues
⊷ Naver expected to confirm its plan to acquire Dunamu (operator of Upbit), Upbit to pursue Nasdaq IPO after merger
⊷ Claude Opus 4.5 release
ICYMI:
⊷ Short-term correlation btw BTC and Nasdaq 100 hit a new high
⊷ US probes Bitmain over national security concerns
⊷ Microstrategy faces risk of being dropped from MSCI USA & Nasdaq 100. A decision on index inclusion is expected by Jan. 15, MSCI is proposing to exclude from the MSCI Global Indexes companies whose digital asset holdings represent 50% or more of their total assets.
⊷ Cardano experienced a temporary chain partition on Sat. after a malformed transaction triggered a bug in an underlying software library. "around 60-70% ran node B (bug)...Eventually A became the longest chain and fork B was resolved, yet most of the history and progress was preserved & the malformed transaction removed. Network recovered & self-healed"
⊷ Numerai Raised $30M Series C At $500M Valuation
⊷ Jump Trading has become active on prediction markets
⊷ Offchain Labs challenges Vitalik’s RISC-V proposal, says WASM better for Ethereum L1
⊷ Google released Gemini 3 Pro, most advanced foundation model with record benchmark scores; Google also released Nano Banana Pro that can produce better visuals with precise and legible text in multiple languages.
⊷ S&P 500 Reporting Highest Revenue Growth in 3 Years
⊷ Record Memory Shortage: 'HDD, DRAM, HBM, NAND... all in severe shortage in 2026'
https://infinityhedge.substack.com/p/the-7-days-0ff
Mon:
*Monad Mainnet
*Grayscale's DOGE & XRP ETF starts trading
*Singapore Exchange will launch BTC and ETH perp future
*Saylor expected announce another BTC purchase (at 91k?)
Tue:
*Alibaba earnings
*MegaETH Pre-Deposit Bridge: USDC on ETH→ USDm on Mainnet (Frontier), $250M cap.
*U.S. Sept. retail sales, PPI
Wed:
*U.K. budget (expected tax rises)
*Fed’s Beige Book
Thu: Thanksgiving
Fri:
*International Buy Nothing Day
*Black Friday
TBA/Whole Week:
⊷ Zelenskiy-Trump Potential Meeting (U.S. tells Ukraine: Take the peace deal - or else will cut off intelligence sharing & weapons supplies)
⊷ US Supreme Court hears arguments on Trump’s tariffs (IEEPA) continues
⊷ December rate cut odds back above 60%
⊷ China vs Japan diplomatic war continues
⊷ Naver expected to confirm its plan to acquire Dunamu (operator of Upbit), Upbit to pursue Nasdaq IPO after merger
⊷ Claude Opus 4.5 release
ICYMI:
⊷ Short-term correlation btw BTC and Nasdaq 100 hit a new high
⊷ US probes Bitmain over national security concerns
⊷ Microstrategy faces risk of being dropped from MSCI USA & Nasdaq 100. A decision on index inclusion is expected by Jan. 15, MSCI is proposing to exclude from the MSCI Global Indexes companies whose digital asset holdings represent 50% or more of their total assets.
⊷ Cardano experienced a temporary chain partition on Sat. after a malformed transaction triggered a bug in an underlying software library. "around 60-70% ran node B (bug)...Eventually A became the longest chain and fork B was resolved, yet most of the history and progress was preserved & the malformed transaction removed. Network recovered & self-healed"
⊷ Numerai Raised $30M Series C At $500M Valuation
⊷ Jump Trading has become active on prediction markets
⊷ Offchain Labs challenges Vitalik’s RISC-V proposal, says WASM better for Ethereum L1
⊷ Google released Gemini 3 Pro, most advanced foundation model with record benchmark scores; Google also released Nano Banana Pro that can produce better visuals with precise and legible text in multiple languages.
⊷ S&P 500 Reporting Highest Revenue Growth in 3 Years
⊷ Record Memory Shortage: 'HDD, DRAM, HBM, NAND... all in severe shortage in 2026'
https://infinityhedge.substack.com/p/the-7-days-0ff
Substack
The 7 days
Week Ahead:
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TRUMP: AIRSPACE ABOVE AND SURROUNDING VENEZUELA TO BE CONSIDER CLOSED IN ITS ENTIRETY.
*Trump’s declaration that the airspace surrounding Venezuela should be considered closed comes after Trump told Maduro during a call that the U.S. would consider using force if he didn’t leave power willingly.
*Trump’s declaration that the airspace surrounding Venezuela should be considered closed comes after Trump told Maduro during a call that the U.S. would consider using force if he didn’t leave power willingly.
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The Week Ahead: infinityhedge
Mon:
*Powell speaks 8PM ET
*Saylor expected announce something NEW, he said “green dots” instead of “orange dots”
Wed:
*Ethereum’s Fusaka Upgrade
*binanceblockchainweek 3-4
*U.S. November ADP
Thu: CZ vs Peter Schiff Debate on Bitcoin vs Tokenized Gold: binanceblockchainweek
Fri: U.S. September PCE
TBA/Whole Week: US-Ukraine talks; Nvidia vs Google; China-Japan Spat
ICYMI:
⊷ S&P Ratings downgrades Tether to ‘5 (weak)’, citing an increase in higher-risk assets in its reserves & “persistent gaps in disclosure”.
⊷ VC investment in crypto startups was $4.59B (-59% QoQ) across 414 deals (-15% QoQ) in Q3 2025.
⊷ Hong Kong-listed stocks with crypto-related businesses tumbled on Monday after China’s central bank vowed to crack down on virtual currencies & flagged concerns about stablecoins.
⊷ Galaxy Digital is in discussions with Polymarket, Kalshi about becoming a liquidity provider on their platforms.
⊷ Lazarus is suspected of being behind an exploit that saw $30M drained from Upbit Exchange on Thursday.
⊷ JPMorgan Upgrades China’s Stocks on Multiple Positive Drivers
https://infinityhedge.substack.com/p/the-7-days-071
Mon:
*Powell speaks 8PM ET
*Saylor expected announce something NEW, he said “green dots” instead of “orange dots”
Wed:
*Ethereum’s Fusaka Upgrade
*binanceblockchainweek 3-4
*U.S. November ADP
Thu: CZ vs Peter Schiff Debate on Bitcoin vs Tokenized Gold: binanceblockchainweek
Fri: U.S. September PCE
TBA/Whole Week: US-Ukraine talks; Nvidia vs Google; China-Japan Spat
ICYMI:
⊷ S&P Ratings downgrades Tether to ‘5 (weak)’, citing an increase in higher-risk assets in its reserves & “persistent gaps in disclosure”.
⊷ VC investment in crypto startups was $4.59B (-59% QoQ) across 414 deals (-15% QoQ) in Q3 2025.
⊷ Hong Kong-listed stocks with crypto-related businesses tumbled on Monday after China’s central bank vowed to crack down on virtual currencies & flagged concerns about stablecoins.
⊷ Galaxy Digital is in discussions with Polymarket, Kalshi about becoming a liquidity provider on their platforms.
⊷ Lazarus is suspected of being behind an exploit that saw $30M drained from Upbit Exchange on Thursday.
⊷ JPMorgan Upgrades China’s Stocks on Multiple Positive Drivers
https://infinityhedge.substack.com/p/the-7-days-071
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The 7 days
Week Ahead:
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Microstrategy Establishes USD Reserve of $1.44B to support the payment of dividends on its preferred stock and interest on its outstanding indebtedness (“Dividends”) - SEC Filing
The USD Reserve was funded using proceeds from the sale of shares of class A common stock under Strategy’s at-the-market offering program. Strategy’s current intention is to maintain a USD Reserve in an amount sufficient to fund at least 12 months of its Dividends, and Strategy intends to strengthen the USD Reserve over time, with the goal of ultimately covering 24 months or more of its Dividends.
The USD Reserve was funded using proceeds from the sale of shares of class A common stock under Strategy’s at-the-market offering program. Strategy’s current intention is to maintain a USD Reserve in an amount sufficient to fund at least 12 months of its Dividends, and Strategy intends to strengthen the USD Reserve over time, with the goal of ultimately covering 24 months or more of its Dividends.
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Microstrategy's Strategy to Fund USD Reserve: INFINITYHEDGE
Above 1x mNAV:
*Issue Common Equity
Below 1x mNAV:
*Sell Bitcoin
*Sell Bitcoin Derivatives
Note: Strategy does not currently engage in any Bitcoin-related derivatives transactions but may do so in the future
Above 1x mNAV:
*Issue Common Equity
Below 1x mNAV:
*Sell Bitcoin
*Sell Bitcoin Derivatives
Note: Strategy does not currently engage in any Bitcoin-related derivatives transactions but may do so in the future
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