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  • Crypto Alpha - 23 November 2024

Crypto Alpha - 23 November 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • UK Crypto Rules: Tame the Wild West in 2025

  • CBOE Bets Big on Bitcoin Index Options

  • Sui + Franklin Templeton: A Match Made in Digital Heaven

  • Bitcoin Smashes $99,500 and Keeps Climbing

  • Tether Treasury Goes Big with $1 Billion USDT Mint

  • Robinhood’s Dan Gallagher: SEC Chairman? Hard Pass

  • BitDeer’s $360M Plan: Mining Goes Big

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Alpha of the Day

UK Crypto Rules: Tame the Wild West in 2025

The United Kingdom is gearing up to drop a mic—or rather, a gavel—on cryptocurrency and stablecoin regulations by early 2025. The move aims to turn the digital currency chaos into something more prim and proper, very on-brand for the Brits. Expect a balance of innovation and control, with enough oversight to keep scams at bay without snuffing out blockchain brilliance. The question is, will this be the tea-and-crumpets moment crypto needs, or will it leave investors longing for sunnier (and less regulated) shores?

CBOE Bets Big on Bitcoin Index Options

The Chicago Board Options Exchange (CBOE) is doubling down on Bitcoin with plans to launch index options tied to the OG crypto. This marks yet another move to bring crypto closer to Wall Street’s traditional playbook. These products could simplify Bitcoin exposure for institutional investors, letting them trade without the full rollercoaster ride of actual BTC ownership. It’s like riding the crypto wave with a life jacket—safe, but not as thrilling as the real thing.

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Sui + Franklin Templeton: A Match Made in Digital Heaven

Sui and Franklin Templeton Digital Assets just made their partnership official, and it’s a big win for decentralized finance (DeFi) enthusiasts. Together, they’ll work on integrating blockchain into traditional asset management, potentially reshaping the way institutions think about digital assets. If you’ve ever dreamed of your 401(k) mingling with smart contracts, this duo is here to make it a reality. DeFi just went corporate, folks, and it’s about to get serious.

Bitcoin Smashes $99,500 and Keeps Climbing

BTC fans, break out the champagne—Bitcoin has soared past $99,500, leaving previous highs in the dust. With bulls firmly in charge, crypto Twitter is buzzing with memes about “when moon” and “to the Mars.” Whether this rally signals a sustainable surge or a temporary peak, one thing is clear: FOMO is real, and latecomers are scrambling to grab their slice of the digital gold pie. HODLers, rejoice—this is your moment.

Tether Treasury Goes Big with $1 Billion USDT Mint

Tether Treasury is back at it, printing 1 billion shiny new USDT tokens on the Ethereum network. The move is likely to support growing demand for stablecoins, but skeptics can’t help but raise an eyebrow. Is this a sign of booming crypto adoption, or are we playing fast and loose with liquidity? Either way, traders now have another billion reasons to keep stablecoins in their wallets—and maybe their skeptic hats nearby.

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Robinhood’s Dan Gallagher: SEC Chairman? Hard Pass

Robinhood’s Chief Legal Officer Dan Gallagher has officially noped out of any ambitions to lead the U.S. SEC. The announcement comes amidst speculation about his future role in financial regulation. Gallagher seems content to stick with Robinhood, helping retail investors “democratize finance.” As for the SEC? It’ll have to look elsewhere for a captain to steer the regulatory ship through the choppy crypto waters.

BitDeer’s $360M Plan: Mining Goes Big

BitDeer is chasing a massive $360 million through convertible senior notes to beef up its data centers and innovate in mining machine R&D. This isn’t just a flex—it’s a full-on marathon to dominate the crypto mining scene. With these funds, BitDeer aims to expand operations and potentially solidify itself as a heavyweight in the industry. For Bitcoin enthusiasts, this could mean more mining power; for competitors, it’s a wake-up call. Stay sharp, miners.

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