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🚨🇺🇲 "2025 will be the Year of Crypto. I will hold accountable all regulators in the U.S. who acted against crypto. Their actions caused billions of dollars to leave the U.S., benefiting China instead."
🚨🇺🇲 BREAKING President-elect Donald Trump said the U.S. is going to become the global leader for cryptocurrency in his upcoming term.
We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead,” Trump told CNBC’s Jim Cramer at the New York Stock Exchange Thursday, responding to a question about a potential strategic #bitcoin reserve.
🚨🇺🇲 BREAKING President-elect Donald Trump said the U.S. is going to become the global leader for cryptocurrency in his upcoming term.
We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead,” Trump told CNBC’s Jim Cramer at the New York Stock Exchange Thursday, responding to a question about a potential strategic #bitcoin reserve.
🚨 Crypto Exchange Coinbase prepares to delist Tether’s USDT stablecoin in Europe
Coinbase said it will assess reenabling services for stablecoins that achieve MiCA compliance at a later date.
Cryptocurrency exchanges in Europe are preparing to delist locally noncompliant stablecoins as European crypto regulations near an enforcement deadline.
Coinbase Europe, Coinbase Germany and Coinbase Custody International will delist Tether’s USDT and five other stablecoins on Dec. 13, Coinbase told Cointelegraph on Thursday.
Based on the latest information, we currently expect we will have to restrict services for the following assets: #USDT , PAX, PYUSD, GUSD, GYEN, and DAI,” Coinbase said, referring to the coins as assets restricted by Europe’s Markets in Crypto-Assets Regulation (MiCA).
Coinbase will continue supporting USD Coin and the euro-pegged EURC (EURC) stablecoin, jointly operated by Coinbase and the US crypto company Circle.
🚨🇺🇲 U.S. CPI data for November 2024 will be released in 60 minutes.
🕕6:30 PM Pakistan Time
November, the market predicts a 0.2% monthly increase in the US CPI, and an annual inflation rate slightly rising to 2.7% from 2.6% in October. The core-inflation in November is expected to remain at 3.3%.
If there is a significant increase in November US inflation data, FOMC may have to decide to pause cutting rates. The US Fed has already cut rates by 75 bps in the previous two meetings. The Fed cut its interest rate by 50 bps in September and 25 bps in November’s FOMC meeting.
🚨🇺🇸 U.S. CPI data for November 2024 will be released in 40 minutes.
🕕 6:00 PM Pakistan Time
November, the market predicts a 0.2% monthly increase in the US CPI, and an annual inflation rate slightly rising to 2.7% from 2.6% in October. The core-inflation in November is expected to remain at 3.3%.
If there is a significant increase in November US inflation data, FOMC may have to decide to pause cutting rates. The US Fed has already cut rates by 75 bps in the previous two meetings. The Fed cut its interest rate by 50 bps in September and 25 bps in November’s FOMC meeting. #btc 🚀
Microsoft shareholders have voted against a proposal to incorporate Bitcoin (BTC) into the company's balance sheets during the annual meeting held on December 10. The proposal was put forward by the National Center for Public Policy Research (NCPPR), a Washington, D.C.-based think tank advocating for free-market policies. The NCPPR argued that diversifying into Bitcoin would enhance shareholder value by capitalizing on profit diversification.
During the shareholders' meeting, a pre-recorded video from the NCPPR was presented, emphasizing the potential benefits of holding Bitcoin. The video highlighted the growing trend of institutional and corporate adoption of Bitcoin, citing BlackRock, Microsoft's second-largest shareholder, which offers a Bitcoin ETF. The proposal suggested that Microsoft allocate between 1% and 5% of its profits to Bitcoin investments, arguing that this move could generate significant value while mitigating risks for shareholders. However, it also acknowledged Bitcoin's volatility compared to corporate bonds and advised against excessive investment.
Despite the NCPPR's arguments, Microsoft's board recommended against the proposal in a 14A filing with the US Securities and Exchange Commission (SEC). The board described the proposal as "unnecessary," stating that the company already considers cryptocurrency investments carefully. They emphasized the need for stable and predictable investments to ensure liquidity and operational funding, which Bitcoin's volatility could compromise.
The proposal appeared to rely heavily on the "fear of missing out" (FOMO) mentality, referencing the Bitcoin adoption strategies of companies like MicroStrategy and BlackRock as motivation.
However, Microsoft's board remained unconvinced, asserting that the company has robust processes in place to manage and diversify its corporate treasury for the long-term benefit of shareholders. The board dismissed the need for a public assessment of Bitcoin's inclusion in the company's balance sheet.
Consumer Price Index (CPI) report for November in the United States is scheduled for release on Wednesday. Economists anticipate a year-over-year increase of 2.7%, slightly above October's 2.6%. Bank of America strategists suggest that this inflation data could significantly influence the U.S. stock market, especially given the muted market reactions to CPI readings in recent months. They noted that a stronger-than-expected CPI could reignite volatility, particularly after a 5% rebound in the stock market following the elections.
Moreover, the inflation figures are expected to play a crucial role in shaping the Federal Reserve's upcoming interest rate decisions. An unexpected rise in inflation could potentially lead to an earlier pause in the Fed's rate-cutting cycle. According to the CME Group's FedWatch Tool, there is an approximately 86% probability that the Federal Reserve will lower interest rates by another 25 basis points at next week's meeting. #bitcoin
The son of the president elect, Eric Trump, took to the bitcoin stage earlier today in UAE to reveal himself as a true bitcoiner. We transcribe part of it: