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🇺🇸 Tether custodian to become U.S. Secretary of Commerce
‼️ According to Donald Trump’s announcement, Howard Lutnick, President and CEO of Cantor Fitzgerald, will serve as the Secretary of Commerce in the new U.S. administration.
✅ Since 2021, Cantor Fitzgerald has been the custodian of Tether’s reserves, and Lutnick is well-known as a strong advocate for Bitcoin and other digital assets.
His primary role in the new position will involve overseeing American technology and enforcing tariffs that the new administration plans to impose on Chinese imports.
NASDAQ will begin listing options on BlackRock's BTC spot ETF (IBIT) today.
This marks a significant milestone for the Bitcoin derivatives market, as derivatives for traditional assets often grow to be 10-20 times the size of the underlying market cap.
These investors are likely to focus on generating yield on their long-term spot ETF holdings, potentially leading to further compression of implied volatility.
⭐️ Russian Energy Ministry plans to limit crypto mining
The Russian Energy Ministry has proposed to introduce restrictions on crypto mining in certain regions to prioritize essential activities, with the plan set to be considered by the governmental commission on November 18 and potentially effective this December.
🇺🇸 Trump plans to bring cryptocurrency supporters into his cabinet
Trump is preparing to return to the Oval Office, and his future administration is already considering changes in regulatory policy, which has sparked market activity and raised the price of Bitcoin to nearly $89,000.
Trump's team is considering pro-cryptocurrency candidates for key positions. #BTCBreaks89k