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  • Crypto Alpha - 14 November 2024

Crypto Alpha - 14 November 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • A Crypto Champ in the Senate: John Thune Takes the Lead

  • Tether Prints a Billion USDT... Because, Why Not?

  • Bitcoin Breaks $93K: Moon’s the Limit?

  • Bitcoin Outshines Saudi Aramco as World’s 7th Largest Asset

  • FBI Seizes Polymarket CEO’s Gadgets—Cryptic Moves Ahead

  • Musk, Trump, and the House Republicans—What Could Go Wrong?

  • 0G Labs Secures $40M in Funding—Big Bucks and Big Plans Ahead

  • CPI Hits 2.6%—The Inflation Rollercoaster Levels Out

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Alpha of the Day

A Crypto Champ in the Senate: John Thune Takes the Lead

Newly elected Senate Majority Leader John Thune has got crypto fans buzzing as he champions legislation that could bring some much-needed clarity to the industry. Thune’s support for pro-crypto laws has given the digital asset world a high-powered friend in Washington. Now that he’s got some extra clout, crypto enthusiasts are hopeful that he’ll help protect the future of decentralized finance and push back on overbearing regulations. Thune’s stance suggests he’s ready to modernize financial policy, proving once again that the times, they are a-changin’—and crypto might just be leading the charge.

Tether Prints a Billion USDT... Because, Why Not?

Tether’s at it again! The stablecoin heavyweight minted a fresh 1 billion USDT on Ethereum, adding to its already massive supply. It’s not the first time Tether’s made a move like this, but with billions of digital dollars in circulation, it’s hard not to picture them as the money-printing “central bank” of the crypto world. This mint adds liquidity to the crypto markets, but it also raises the usual questions—like, is there enough actual cash to back it? Either way, Tether’s big play has given crypto traders some extra fuel, and they’re revving their engines.

Bitcoin Breaks $93K: Moon’s the Limit?

Bitcoin just bulldozed through the $93,000 mark, leaving crypto enthusiasts in shock and awe as it sets record after record. This milestone has traders celebrating and skeptics scratching their heads—again. The recent surge has sparked a wave of excitement as BTC rockets closer to six figures, and believers are already eyeing the next big price point. With BTC’s price continuing to rise like a superstar, it’s safe to say: in the wild world of crypto, there’s always a new high to chase.

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Bitcoin Outshines Saudi Aramco as World’s 7th Largest Asset

Bitcoin’s market cap has officially outpaced oil giant Saudi Aramco, crowning it as the 7th largest asset on the planet. Yes, you read that right—digital gold just passed literal black gold. This latest ranking win is a big flex for BTC advocates, proving that decentralized finance can indeed be a major global player. Bitcoin now sits alongside the titans of traditional finance, signaling its arrival as a legitimate heavyweight in the world economy. Next stop, top five?

FBI Seizes Polymarket CEO’s Gadgets—Cryptic Moves Ahead

In a plot twist worthy of a crime drama, the FBI recently confiscated the mobile phone and electronic devices of Polymarket’s CEO. The investigation has left the crypto world speculating about what information might be hiding in those gadgets. Polymarket is known for its prediction markets, but apparently, the Feds are more interested in predicting what’s on the CEO’s phone. Whether this is a routine check or a major crypto crackdown, it’s bound to make headlines—and maybe make some crypto execs a little more careful with their electronics.

Behind-the-scenes stories from across the creator economy.

Musk, Trump, and the House Republicans—What Could Go Wrong?

Elon Musk is set to attend an upcoming House Republican meeting with none other than Donald Trump, creating a dream team of headlines in the making. With Musk’s unpredictable energy and Trump’s polarizing presence, this gathering could be as much a meme factory as it is a political event. Musk, the master of hype, may use this opportunity to discuss his vision for the future, and you can bet there’ll be cameras rolling. Whether they talk tech, policies, or just tweet about it, it’s sure to be a spectacle.

0G Labs Secures $40M in Funding—Big Bucks and Big Plans Ahead

In a sign that crypto’s still cashing in, 0G Labs just scored $40 million in seed funding along with a jaw-dropping $250 million in token purchase commitments. They’re making serious moves and look set to dive deeper into crypto projects that could shake up the industry. With a name like 0G Labs, they’re clearly aiming for new heights in decentralized tech, and this cash injection will certainly fuel their plans. It seems investors are betting big that 0G Labs is going to bring some serious innovation to the crypto table.

CPI Hits 2.6%—The Inflation Rollercoaster Levels Out

The U.S. Consumer Price Index (CPI) rose by 2.6% year-over-year in October, right in line with Wall Street’s predictions. It’s a bit of a breather from the sky-high inflation we’ve been seeing, and markets are breathing a cautious sigh of relief. While 2.6% isn’t exactly “cheap” living, it’s a whole lot better than runaway inflation. For investors, this steady CPI news is a green light to keep on keeping on, at least for now. Here’s to hoping inflation chills out—or at least doesn’t come roaring back anytime soon.

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