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Russia, India, and South Africa have clarified that BRICS is not seeking to undermine the US dollar's status as the world's reserve currency. Russian diplomat Sergey Ryabkov emphasized the group's willingness to discuss this with President-elect Trump, while India's External Affairs Minister S Jaishankar stated that India has no interest in de-dollarization, given its reliance on the US as a major trading partner. South Africa also refuted claims of a new BRICS currency, asserting that discussions focus on trading with national currencies among member states.
The investigation into Credit Suisse reveals significant failures by former executives and regulatory bodies, particularly Mark Branson of FINMA, who allowed the bank to misrepresent its financial health. The report highlights a toxic culture and lobbying efforts that may have exacerbated the crisis, with political contributions from UBS and Credit Suisse raising concerns about regulatory influence.
The European Union has mandated the delisting of Tether ($USDT) from exchanges by December 30, 2024, unless it complies with the Markets in Crypto-Assets (MiCA) regulations, which require transparency and regular audits. This decision could disrupt liquidity in EU crypto markets and set a global precedent for stablecoin regulations, potentially leading to increased scrutiny for issuers worldwide. The absence of $USDT may force exchanges to rely on alternatives like USD Coin ($USDC) or Dai ($DAI), which must also meet MiCA standards, risking market instability.
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.
The U.S. Treasury has sanctioned two individuals and a UAE-based company for laundering millions in illicit funds for North Korea, which continues to exploit digital assets to support its WMD and missile programs. Key figure Sim Hyon Sop, linked to North Korean financial institutions, orchestrated these schemes, while recent cybercrimes by North Korean hackers have further destabilized the crypto industry.
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.
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.
Interpol has issued a Red Notice for Richard Schueler, known as Richard Heart, founder of Hex, over allegations of tax fraud and assault. The charges, which include tax evasion from June 2020 to April 2024 and a violent incident involving a minor, have led to his listing on Europe’s most wanted fugitives list.Despite the serious accusations, Schueler remains active on social media, posting cryptic messages. He is also facing a $1 billion lawsuit from the SEC for unregistered offerings of crypto tokens, including Hex, PulseChain, and PulseX, which he promoted as high-yield investments.
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