November 16, 20240 Comments

Prominent US Prosecutor’s Office To Reduce Focus on Crypto Cases, Says Top Official: Report

A prominent US Attorney’s office reportedly plans to reduce its focus on crypto cases with Donald Trump headed back to the White House. On Thursday, Trump announced on Truth Social that he planned to nominate Jay Clayton as U.S. Attorney for the Southern District of New York. Clayton led the Securities and Exchange Commission (SEC) during Trump’s previous term and has made crypto-friendly comments recently. Scott Hartman, co-chief of the

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November 16, 20240 Comments

Bitcoin (BTC) Traders Make $100K Price Bets Through CME Options as Price Hits Record High: CF Benchmarks

According to CF Benchmarks, traders are flocking to the $100,000 call option on the CME, a location favored by institutional investors, following the lead of their Deribit-based counterparts. A call option gives the purchaser the right, but not the obligation, to purchase the underlying asset at a predetermined price on or before a specific date. A call buyer is implicitly bullish on the market. Source link

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November 16, 20240 Comments

US Borrowing $8,000,000,000 Per Day As Ratings Agency Moody Issues Warning on Nation’s Deteriorating Fiscal Strength

New numbers show the US government is piling a staggering amount of debt onto its balance sheet every single day. The nonpartisan, nonprofit Committee for a Responsible Federal Budget (CRFB) says the federal government is now borrowing $8 billion per day just to keep things running. Citing data from the Congressional Budget Office (CBO), the organization’s president Maya MacGuineas says the government borrowed more than a quarter of a trillion

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November 16, 20240 Comments

Elon Musk Explains Why Tether Advocate Howard Lutnick Is Best For US Treasury Role

Elon Musk has expressed his support for Howard Lutnick, CEO of Cantor Fitzgerald and Tether advocate, as the leading candidate for the U.S. Treasury Secretary position in Donald Trump’s administration. Musk emphasized that Lutnick is capable of enacting change, contrasting him with Scott Bessent, another contender for the role. Elon Musk Views Howard Lutnick as a Change-Driven Treasury Pick In a recent post on his social media platform X, Elon

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November 16, 20240 Comments

$500,000 Drained From American Bank Accounts As Insider Allegedly Steals Customers’ Sensitive Information, Sells Trove To Accomplices on Telegram: Manhattan District Attorney

An employee at US banking giant has been indicted, accused of stealing sensitive information from the lender’s customers and sharing it with accomplices. Manhattan District Attorney Alvin Bragg says Daria Sewell worked in TD Bank’s anti-money laundering department from 2023 to May 2024, the period she is alleged to have committed the crime. “Through her position in the anti-money laundering department, SEWELL was able to access personal identifying information of customers.

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November 16, 20240 Comments

Crypto Prices Cool as Fed Chair Jerome Powell Strikes Ambiguous Tone on Future Monetary Policy Choices

After nearly two weeks of explosive gains, crypto prices briefly cooled on Thursday and into Friday, possibly due to a speech delivered by U.S. Federal Reserve Chair Jerome Powell. Powell spoke in Dallas on Thursday and struck a somewhat ambiguous tone about future US monetary policy choices. He continued to emphasize that the Fed views current risks to inflation and employment goals as “being roughly in balance.” “We know that

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November 16, 20240 Comments

Here’s How High XRP Price Could Rise After Crossing $1

Crypto analyst Egrag Crypto has provided insights into how high the XRP price could rise following its rally above $1. XRP’s rally above $1 marked a two-year high for the crypto, which had before now remained stagnant even while the broader crypto market enjoyed significant gains. XRP Price To Rally To $4 After Breakout Above $1 In an X post, Egrag Crypto predicted that the XRP price could rally to

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November 16, 20240 Comments

JPMorgan Chase, Morgan Stanley and Citi Say Raging Bull Market Not Over Yet – Here’s Their Outlook

Several Wall Street banking giants are forecasting blue skies for US equities – at least until 2024 comes to a close. Morgan Stanley chief US equity strategist Mike Wilson tells Bloomberg that he expects the S&P 500 to revisit all-time high levels by the end of the year. But Wilson warns equities will likely see a consolidation period as a new year unfolds. “We’re into the FOMO (fear of missing

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November 16, 20240 Comments

Infamous Crypto Hacker Behind Nearly $11,000,000,000 Bitfinex Exploit Sentenced to Five Years in Prison

The notorious hacker behind the massive $10.934 billion exploit of crypto exchange Bitfinex is being sentenced to five years in prison. According to a new press release by the U.S. Department of Justice (DOJ), Ilya Lichtenstein – who hacked Bitfinex in 2016 and fraudulently sent 119,754 Bitcoin (BTC) to a wallet under his control – has been sentenced to five years for his role in the scheme. Court documents reveal

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November 16, 20240 Comments

Ripple CLO Criticizes Gary Gensler’s Justification For Crypto Lawsuits

Ripple Chief Legal Officer (CLO) Stuart Alderoty has criticized the US Securities and Exchange Commission (SEC) Chair Gary Gensler following his attempt to justify the crypto lawsuits that the Commission has instituted. The Ripple CLO’s statement has come amid speculations that Gensler could soon resign as the SEC Chair. Ripple CLO Criticizes Gary Gensler’s Claim On Crypto Lawsuits In an X post, the Ripple CLO criticized Gensler’s attempt to justify

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