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- Crypto Alpha - 9 November 2024
Crypto Alpha - 9 November 2024
Daily Alpha on All Things Crypto, Web3 and Blockchain
TL;DR
FDIC Oversight Could Lighten Up Under Trump’s Team
SOL Edges Out BNB, Claims the #4 Spot
BlackRock’s Ethereum ETF is Hoarding Over 470,000 ETH
Barclays: Only Two Rate Cuts for the Fed in 2025
Stacks Co-Founder Launches Bitcoin L2 Labs with $20M in Funding
Galaxy Research Director: Market’s Chill, No Overheating Here
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Alpha of the Day
FDIC Oversight Could Lighten Up Under Trump’s Team
In a move that’s bound to raise eyebrows (and maybe a few stress levels), the Trump administration is reportedly cooking up plans to ease FDIC supervision. This shift in oversight could change the way banks operate, giving them a little more room to maneuver. Think of it like loosening the leash on a dog that might just make a run for it—exciting, but let’s hope the system stays on a stable path. While some industry insiders may be thrilled, the news is likely to be a mixed bag for everyday savers and investors who just want their banks to be, well, secure.
SOL Edges Out BNB, Claims the #4 Spot
SOL just sprinted past BNB, officially taking the title of the fourth-largest crypto by market cap. This powerhouse move has SOL enthusiasts celebrating and BNB fans scratching their heads. The competition is fierce, and SOL’s leap shows that the market’s energy is far from slowing down. Like a new student who’s just knocked the class star out of first place, SOL’s rise is shaking things up. All eyes will be on these two titans to see who’s next in line for the podium.
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BlackRock’s Ethereum ETF is Hoarding Over 470,000 ETH
It seems like BlackRock’s Ethereum ETF is channeling its inner hoarder, as it now holds a jaw-dropping 470,000 ETH. This isn’t your typical wallet stash—it’s a collection that could make even Ethereum whales feel small. BlackRock’s strategy seems to be “more is more,” which makes sense given that they’ve set their sights on being a go-to for crypto-hungry investors. With these numbers, it’s clear that BlackRock is betting big on ETH, practically keeping the vault stuffed with digital gold.
Barclays: Only Two Rate Cuts for the Fed in 2025
Barclays has spoken, and according to their crystal ball, we should only expect two Fed rate cuts in 2025, each one a gentle 25 basis points. It’s a “keep calm and cut slowly” approach that seems to match the Fed’s recent caution. After all, the last thing they want to do is trigger any economic whiplash. For those hoping for quicker relief, it’s a bit like getting a Netflix free trial—only to realize it’s only for two weeks instead of a month. Patience, apparently, is the name of the game.
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Stacks Co-Founder Launches Bitcoin L2 Labs with $20M in Funding
The co-founder of Stacks isn’t slowing down—he’s just launched Bitcoin L2 Labs with a fresh $20 million in funding. The new entity is setting out to build a Layer 2 playground for Bitcoin, and with that kind of cash, they’re off to a solid start. It’s like taking your startup to the next level with a runway that’s just long enough to pull off some ambitious maneuvers. Expect L2 Labs to push the envelope, blending Bitcoin’s reliability with the innovative spark of Layer 2 tech.
Galaxy Research Director: Market’s Chill, No Overheating Here
The Galaxy Research Director just gave the market a pretty laid-back assessment, saying it’s not overheating from a fundamental standpoint. For anyone bracing for a market meltdown, this is like hearing that the pool is warm before you dive in. With steady growth and balanced indicators, it’s looking more like a solid jog than an out-of-breath sprint. Investors may breathe a bit easier knowing that, at least for now, there’s no need to break a sweat.
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Daily #Crypto Alpha | November 9 2024… x.com/i/web/status/1…
— WAGMI | Crypto, DeFi & Web3 News (@wagmiglobal_)
3:18 PM • Nov 9, 2024
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