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CRISPR Therapeutics has faced a challenging market, with shares down 23% year-to-date despite recent regulatory approvals for its gene-editing medicine, Casgevy, which treats sickle cell disease and beta-thalassemia. The Biden administration's new Medicaid initiative aims to improve access to Casgevy, potentially expanding its market significantly. With a projected peak annual sales exceeding $2.2 billion, the company is well-positioned for future growth, although it currently reports minimal revenue.
CRISPR Therapeutics has faced a 23% decline in stock value this year despite recent regulatory approvals for its gene-editing medicine, Casgevy, which treats sickle cell disease and beta-thalassemia. The high cost of $2.2 million per treatment poses accessibility challenges, but a new U.S. government plan aims to help Medicaid patients afford it, potentially expanding access for many. However, the company reported only $1.6 million in revenue in the first nine months, indicating slow uptake of Casgevy.
Nvidia has launched the Jetson Orin Nano Super, a compact AI computer priced at $249, offering a 70% performance boost with 67 trillion operations per second. It features a 6-core ARM processor and 102 GB/s memory bandwidth, enabling simultaneous processing of multiple AI applications and camera feeds while consuming only 7 to 25 watts of power. This device is aimed at developers and hobbyists for prototyping and small-scale applications, enhancing capabilities for robotics and AI tasks.
MicroStrategy's Bitcoin purchases have exceeded 2021 bull market levels, acquiring 27,200 BTC on Nov. 10, 51,780 BTC on Nov. 17, and a record 55,500 BTC on Nov. 24, with prices reaching approximately $97,000 per coin. The company will join the Nasdaq 100 index on Dec. 23, 2024, enhancing stock investors' exposure to Bitcoin. Co-founder Michael Saylor has expressed intentions to continue purchasing Bitcoin at peak prices, potentially investing billions daily as the asset matures.
The European Union's new crypto regulations, effective December 30, will require exchanges to delist Tether's USDT, raising concerns about liquidity disruptions in the market. As traders shift to fiat pairs, the move could inflate costs and fragment trading activities. Meanwhile, Tether is enhancing security measures to combat financial crime, even as crypto ownership in the eurozone surges amid declining venture capital investment in the sector.
Two California men, Gabriel Hay and Gavin Mayo, have been charged with orchestrating a $22 million NFT rug pull scheme, marking the largest NFT fraud case prosecuted by the U.S. Department of Justice. They allegedly misled investors with false claims about various NFT projects on the Ethereum and Solana blockchains, before abandoning them and leaving investors with losses. If convicted, they face up to 20 years in prison for conspiracy and wire fraud, along with five years for stalking a project manager who exposed their activities.
Ethereum recently dipped below $3,100 for the first time in 29 days, marking a shift from its December peak of $4,106. Despite a tumultuous 2024, characterized by both bullish catalysts and market downturns, the Fear and Greed Index indicates that retail investors view the dip as a buying opportunity. Factors such as institutional adoption, network upgrades, and market sentiment will be crucial in determining whether Ethereum can reach a new all-time high before 2025.
XRP whales are strategically accumulating over 80 million XRP amid market volatility, suggesting a potential price rebound. The launch of Ripple's stablecoin RLUSD could further enhance XRP's role in international payments, increasing liquidity and attracting financial institutions. Despite a recent 4% price rise to $2.36, caution remains as XRP futures open positions have dropped by 30%.
Veteran investor Tom Lee from Fundstrat views the recent market dip as a buying opportunity, despite the S&P 500's decline from above 6,000 to 5,832. He highlights that the volatility index's sharp rise on December 18th historically correlates with market bottoms, suggesting a potential recovery ahead. Lee emphasizes that the fundamentals supporting stocks remain intact, making this a favorable time for investors to consider going long.
BlackRock's Bitcoin ETF experienced a record outflow of $72.7 million on December 20, marking the largest since its launch in January. This followed a significant outflow of $208.5 million from Fidelity's Bitcoin fund the previous day, raising concerns among investors about the future of Bitcoin ETFs amid declining trading volumes. Despite recent challenges, analysts suggest that outflows may not persist, as Bitcoin's price has shown signs of recovery after a dip.
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