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Fastest Breaking Markets Updates Crypto • Finance • Technology • War
*US NOV. CONSUMER PRICES RISE 2.7% Y/Y; EST. +2.7%
*US NOV. CONSUMER PRICES RISE 0.3% M/M; EST. +0.3%
*US NOV. CORE CPI RISES 3.3% Y/Y; EST. +3.3%
*US NOV. CORE CPI RISES 0.3% M/M; EST. +0.3%
*RUSSIAN FOREIGN MINISTRY: AMID INCREASED CONFRONTATION WITH USA, TRIPS TO USA ARE FRAUGHT WITH RISKS
*RUSSIAN FOREIGN MINISTRY: WE URGE RUSSIAN CITIZENS TO REFRAIN FROM TRIPS TO THE UNITED STATES AND ITS SATELLITES, PRIMARILY CANADA AND SOME EU COUNTRIES
*RUSSIAN FOREIGN MINISTRY: RELATIONS WITH THE US ARE TEETERING ON THE VERGE OF RUPTURE
CIRCLE AND BINANCE HAVE ENTERED INTO A STRATEGIC PARTNERSHIP
*Through this partnership, Binance will make USDC more extensively available across their full suite of products and services, — will adopt USDC as a vital dollar stablecoin for their own corporate treasury.
*Circle will provide Binance with a range of technology, liquidity and other tools for Binance users to benefit from the trust and innovation that Circle has built for USDC.
[5HRS AGO]: TRUMP TO FOCUS ON BITCOIN PRICE, SEES IT AS ANOTHER STOCK MARKET
*Trump "is going to be very focused on the price of Bitcoin" — "It's another stock market for him," the source explained, adding that Trump would love for Bitcoin to hit $150,000 early in his presidency: A top transition source told AXIOS
OPENAI'S AI VIDEO GENERATOR 'SORA' RELEASED FOR THE PUBLIC: sora.com
SAM ALTMAN:
this is early--think of it like GPT-1 for video
SORA, OPENAI'S AI VIDEO GENERATOR, IS LAUNCHING FOR THE PUBLIC TODAY: MKBHD
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BITCOIN STRATEGIC RESERVE FACES FUNDING CHALLENGES
*The BITCOIN Act of 2024 would have the US government create a strategic BTC reserve, funded in part with remittances from the Federal Reserve to the Treasury.
*The problem is the Fed is currently operating at a loss of over $1B/week, due to a negative interest margin. Even after the Fed returns to profitability, it would have to apply those future profits to filling the hole in its balance sheet from accumulated losses—currently worth $212B—before remittances resume, including to any BTC reserve.
*That could take years. In the meantime, BTC purchases—as envisioned by the act—would have to lean heavily on profits from revaluing and remonetizing the Treasury’s gold: Gavekal Research
MICROSTRATEGY ACQUIRED 21,550 BITCOINS FOR ABOUT $2.1B IN CASH AT AN AVG. PRICE OF $98,783 PER BITCOIN BETWEEN DECEMBER 2 AND DECEMBER 8, 2024
As of December 8, 2024, MicroStrategy holds 423,650 Bitcoins, which were acquired at an aggregate purchase price of approx. $25.6 billion and an average purchase price of approximately $60,324 per Bitcoin.
The Week Ahead | @infinityhedge
WEEKLY US SPOT ETF FLOWS:
*BTC: +2.73B
*ETH: +836M
US BTC SPOT ETF OPTIONS:
*Total OI Call/Put Ratio(Nominal): 2.07
*Total OI Call/Put Ratio(Delta): 4.37
Macro:
*U.S. CPI on 11
*BoC Interest Rate Decision on 11
*U.S. 10-Year Note Auction on 11
*China economic meeting on 11
*ECB Interest Rate Decision on 12
*U.S. 30-Year Bond Auction on 12
*Abu Dhabi Finance Week from 9-12 (speakers: Larry Fink (blackrock), Jane Fraser (Citi), Jeremy Allaire (circle), Richard Teng (Binance), Lily Liu (Solana), Jonathan Levin (Chainalysis), Yat Siu (Animoca Brands), Yoni Assia (eToro), Christopher Jensen (Franklin Templeton)
*South Korea's political Drama, Middle East Conflict (Syria) and China’s military appears to be preparing for widely anticipated drills in response to a recent visit by Taiwan's president to Hawaii and Guam
Crypto:
*Vancouver (Canadian city) City council to consider a motion to integrate Bitcoin into city finances like for instance for accepting taxes and fees in Bitcoin, or converting some of its financial reserves into Bitcoin on Dec. 11
*Nasdaq to reveal MicroStrategy's potential Nasdaq 100 index inclusion on December 13 after market close.
*U.S. FASB requires companies to use fair value accounting for Bitcoin starting December 15 (positive change)
*Microsoft shareholders will vote on whether to add Bitcoin to the company’s balance sheet, with board recommending against it on December 10, starting at 8:30 a.m. PT. (likely will not pass).
*Sonic labs (formerly fantom) to release mainnet in early december.
*Frax finance to release vision roadmap and deployment details in december.
Token Unlocks:
$APT: $150M: 2.11% on 11
Earnings/Charts/Articles ⬎
CHINA EASES MONETARY POLICY STANCE FOR FIRST TIME SINCE 2011
*POLITBURO: CHINA MONETARY POLICY TO BE MODERATELY LOOSE
*POLITBURO: CHINA'S FISCAL POLICY TO BE MORE PROACTIVE NEXT YEAR
*POLITBURO: WILL STABILIZE THE PROPERTY AND STOCK MARKETS
*The Politburo, comprising the ruling Communist Party’s most senior 24 officials and led by President Xi Jinping, announced it will embrace a “moderately loose” strategy next year, in a sign of greater easing ahead that will likely be welcomed by investors hungry for more stimulus.
*The body also adopted stronger language on fiscal policy, saying it’ll be “more proactive” — a step up from “proactive.”
ISRAELI GROUND FORCES CROSS INTO SYRIA, OFFICIALS SAY: NYT
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[20MIN AGO] MICHAEL SAYLOR HINTS AT ANOTHER BITCOIN PURCHASE, TWEETS "STILL TOO MUCH BLUE ON SAYLORTRACKER"
*PREVIOUS SIMILAR TWEETS LED TO ANNOUNCEMENTS OF BITCOIN PURCHASES THE NEXT DAY
TRADERS NOW SEE AN 85% CHANCE OF A FED RATE CUT IN DECEMBER VS 67% BEFORE THE JOBS REPORT
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APPLE IS WORKING ON AI CHIP WITH BROADCOM - THE INFORMATION
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U.S. NOV CPI DATA COMING IN 60 MINS ⌛:
HEADLINE CPI: ⚠️
*M/M: EST. 0.3%; PREV. 0.2%
*Y/Y: EST. 2.7%; PREV. 2.6%
CORE CPI:
*M/M: EST. 0.3%; PREV. 0.3%
*Y/Y: EST. 3.3%; PREV. 3.3%
BOJ IS SAID TO SEE LITTLE COST TO WAITING FOR NEXT RATE HIKE
*BANK OF JAPAN SEES LIMITED RISK OF ACCELERATING PRICES EVEN IF RATE HIKE DELAYED IN DECEMBER
*SOME BOJ OFFICIALS NOT AGAINST RATE HIKE IN DEC IF PROPOSED
*MICROSOFT SHAREHOLDERS VOTE AGAINST BITCOIN INVESTMENT PROPOSAL
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MICROSTRATEGY EXPECTED TO JOIN NASDAQ-100 FOLLOWING MODERNA'S EXIT – BLOOMBERG INTELLIGENCE
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$1.52B LIQUIDATED FROM THE CRYPTO MARKET IN THE LAST 24HRS
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Google unveiled a powerful new quantum computer prototype that compresses what would take today’s most powerful super computers ten septillion years (that’s more time than the universe has existed) to calculate into five minutes: Semafor
*Sundar Pichai, Google CEO:
Introducing Willow, our new state-of-the-art quantum computing chip with a breakthrough that can reduce errors exponentially as we scale up using more qubits, cracking a 30-year challenge in the field. In benchmark tests, Willow solved a standard computation in <5 mins that would take a leading supercomputer over 10^25 years, far beyond the age of the universe(!)
*TESLA RISES ABOVE $400 PER SHARE FOR FIRST TIME SINCE JAN. 2022
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REDDIT: Starting Monday, We’re rolling out a test of 'reddit answers', with reddit answers, redditors can ask questions and receive answers using a new, ai-powered conversational interface
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RIOT PLATFORMS (BITCOIN MINER) SHARES DOWN 6.5% PREMARKET AFTER COMPANY ANNOUNCED PROPOSED PRIVATE OFFERING OF $500M OF CONVERTIBLE SENIOR NOTES TO ACQUIRE MORE BITCOIN
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EL SALVADOR TO SCALE BACK BITCOIN DREAMS TO SEAL $1.3BN IMF DEAL
*El Salvador expects to reach agreement with the IMF in the next two to three weeks on a $1.3bn loan programme in return for changes to its pioneering use of bitcoin as legal tender and reductions in government deficits.
*TLDR: EL SALVADOR TO MAKE ACCEPTANCE OF BITCOIN VOLUNTARY TO UNLOCK INTERNATIONAL LENDING
ETHENA'S $USDe STABLECOIN HAS FLIPPED MAKERDAO'S $USDS TO BECOME 3RD LARGEST STABLECOIN — SUPPLY CROSSES $5 BILLION
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