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  • Crypto Alpha - 7 November 2024

Crypto Alpha - 7 November 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • Musk: X is now the place to uncover the truth.

  • Tether issued 2 billion USDT on the Ethereum blockchain.

  • Biden extended an invitation to Trump to meet at the White House to discuss the power transition.

  • Harris reached out to Trump to congratulate him on his win.

  • The global cryptocurrency market cap surpassed $2.6 trillion.

  • Harris delivered a speech acknowledging her loss.

  • Biden had conversations with both Trump and Harris, offering congratulations to Trump on his victory.

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Alpha of the Day

Musk: X is Now the Place to Uncover the Truth

Elon Musk, the self-proclaimed master of chaos, has officially declared X (formerly Twitter) as the ultimate truth-finding machine. Forget fact-checkers; with Musk at the helm, X is now where the world gets its reality check. Whether it's for the latest conspiracy theories, outrageous political opinions, or just funny memes, X is the new hotspot for "uncovering the truth." Of course, whether that truth is accurate or not is a different story, but hey, it’s the internet, and what’s the fun if you can’t stir up some drama? Musk's claim adds fuel to the fire of X’s ever-evolving reputation: it’s messy, it’s wild, and, according to Musk, it’s where truth lives now. Just bring your own filter.

Tether Minted 2 Billion USDT on Ethereum

Tether just casually minted 2 billion USDT on Ethereum, proving once again that when it comes to creating stablecoins, they don’t play around. If you thought the crypto market couldn’t get any more saturated, well, think again. USDT, the industry’s heavyweight stablecoin, is making sure it’s well-distributed across the Ethereum blockchain, which is like having your cake and eating it too. With this minting move, Tether is asserting its dominance while keeping the crypto economy stable (sort of). They’re basically the "we got you" in a world full of market fluctuations. The move has crypto enthusiasts feeling secure, at least until the next market drop.

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Biden Extended an Invitation to Trump to Meet at the White House

In a move that could only be described as political peace-making, President Biden invited former President Trump to the White House to discuss the transition of power. Yes, you read that right—Biden, the man who took office in a whirlwind of tension, is now trying to make nice with the guy who was leading the charge on the whole "not my president" movement. Maybe it's the power of diplomacy, or maybe it's just to make sure Trump doesn’t "accidentally" start another Twitter war. Either way, it's an offer for a sit-down that had the nation wondering if the two would be exchanging pleasantries or preparing for a WWE-style face-off. Guess we'll see what happens behind those White House doors.

Harris Reached Out to Trump to Congratulate Him on His Win

In a moment of political grace, Harris picked up the phone (or whatever communication tool politicians use) to congratulate Trump on his victory. It's like when your rival aces the big exam and you muster up the courage to say, “Well done, you did it.” The tension between them might still be palpable, but it’s nice to know that even in the world of politics, there’s room for some good sportsmanship. If only we could’ve been a fly on the wall during that conversation—Harris trying to maintain that professional tone while Trump probably had a few words about how everything is "tremendous." At least it wasn’t a "thanks, but no thanks" situation, right?

The Global Cryptocurrency Market Cap Surpassed $2.6 Trillion

Crypto just hit another milestone—because, of course, it did. The global market cap of all cryptocurrencies has surpassed a staggering $2.6 trillion, sending waves of excitement (and FOMO) across the digital finance world. It’s like the entire market suddenly hit a growth spurt and left all the naysayers eating dust. With more coins and tokens popping up than we can count (literally), this market cap surge is a reflection of how mainstream crypto is becoming. From the OG Bitcoin to meme coins and stablecoins, it’s all contributing to this trillion-dollar juggernaut. Now, if we could only get those gas fees down...

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Harris Delivered a Speech Acknowledging Her Loss

In what can only be described as a graceful (yet somber) moment, Harris delivered a speech acknowledging her loss. It’s the kind of political maturity we all wish we could muster after an intense competition. Imagine having to stand in front of a crowd, put on a smile, and graciously accept defeat after fighting for so long. Harris nailed it, channeling all the "it’s not about winning, it’s about trying" energy. Of course, the entire speech was loaded with all the right political phrasing, but still, the humanity behind it was a reminder that, in the end, it’s not just about the race—it’s about the response.

Biden Had Conversations with Both Trump and Harris, Offering Congratulations to Trump on His Victory

Biden had a busy day, juggling conversations with both Trump and Harris. With grace and diplomacy (which, let’s be honest, isn’t always easy), Biden reached out to offer his congratulations to Trump on his win. You can almost picture Biden doing his best "let’s keep it civil" dance while balancing political tact. After all, this is the same man who has to keep it together as he navigates a potentially heated exchange between his rivals. It’s a move that showed the power of unity (or at least, the attempt at unity) in an otherwise divided political landscape. What’s next? A roundtable discussion with peacekeepers?

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