TL;DR

• Coinbase will discontinue its "paycheck direct deposit" service on November 25.

• The Trump family’s crypto project, WLFI, has generated $9.66 million in sales so far.

• Musk contributed $75 million to support Trump's efforts.

• MARA used Bitcoin as collateral to secure a $200 million credit line.

• Marc Andreessen of a16z once provided $50,000 in research funding to the terminal of truths and its creator, but claims no personal connection to GOAT.

• Fed’s Bostic predicts another 25 basis point rate cut this year, following the 50 basis point cut in September.

• Venture capitalists Marc Andreessen and Ben Horowitz each gave $2.5 million to Trump’s Political Action Committee.

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Alpha of the Day

Coinbase Pulls the Plug on Paycheck Direct Deposits

If you’re a Coinbase user enjoying the ease of getting your paycheck deposited directly into your crypto wallet, brace yourself. As of November 25, that smooth ride will come to an abrupt halt. Coinbase is ending its "paycheck direct deposit" service, leaving you to manually transfer your hard-earned dollars into your crypto holdings, like it’s 2020 all over again. Maybe it’s time to dust off that old banking app or hope your employer is cool with paying you in ETH. Either way, it's back to square one for those relying on this handy feature.

Trump Family’s Crypto Project, WLFI, Hits $9.66 Million in Sales

It looks like the Trump family’s dabble into the crypto world is raking in some serious cash. WLFI, their much-talked-about crypto project, has already generated $9.66 million in sales. Whether it's die-hard fans or crypto enthusiasts hopping on board, the numbers are climbing, and it’s not slowing down. Could this be the future of political fundraising? Perhaps, but for now, the Trump clan is sitting pretty on their mountain of digital dollars, adding another notch to their ever-growing list of unconventional ventures.

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Musk Throws $75 Million Behind Trump

Elon Musk is at it again, and this time, he’s making headlines by contributing a cool $75 million to support Trump. Is this a “Tesla-to-the-Moon” moment or just Musk flexing his billionaire muscles in the political arena? Who knows, but one thing’s for sure: when Musk writes a check, people pay attention. The tech mogul’s involvement in Trump’s campaign adds another layer to his unpredictable behavior. Maybe next, he’ll launch Space Force 2.0 and declare Mars the 51st state.

MARA Takes Out $200M Loan, Uses Bitcoin as Collateral

Bitcoin isn’t just for buying Lambos and dodging bank fees—now it’s collateral for a $200 million credit line. MARA, the Bitcoin mining company, secured a massive loan by putting their BTC on the table. Sure, taking out a loan with crypto sounds a little like the plot of a sci-fi movie, but in the world of decentralized finance, it’s becoming more common. Let’s just hope Bitcoin doesn’t decide to take one of its famous nose dives, or MARA might be in for an awkward call with the bank.

Marc Andreessen Funds Truth but Denies GOAT Allegations

Marc Andreessen, the venture capitalist behind a16z, once gave $50,000 to a research project known as the "terminal of truths." But before you jump to conclusions, he swears it’s not GOAT-level important. Andreessen is distancing himself from any hype, saying it was just a research funding thing and nothing personal. So, if you’re hoping to find some secret Marc-GOAT connection here, you’ll have to keep digging. Just another day in the wild world of tech titans, folks.

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Fed’s Bostic Predicts Another Rate Cut This Year

If you're hoping for another break on your mortgage or car loan, you might be in luck. According to Fed’s Raphael Bostic, we could see another 25 basis point rate cut before the year wraps up, following the hefty 50-point chop in September. It’s like the Fed is trying to make amends for all those years of high rates—just in time for holiday shopping! Bostic’s not making any wild promises, but it sounds like lower interest rates are still on the table, so keep your fingers crossed.

Andreessen and Horowitz Drop $2.5M Each Into Trump’s PAC

When you’ve got deep pockets, you can throw some serious cash at politics. Marc Andreessen and Ben Horowitz, two of Silicon Valley’s biggest venture capitalists, each donated $2.5 million to Trump’s Political Action Committee. That’s the kind of money that could fund a decent startup—or a political campaign, apparently. The duo isn’t shy about where their loyalties (or wallets) lie, proving once again that tech titans love to play in the big leagues when it comes to politics.

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