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World Liberty Financial (WLFI), a new venture by Donald Trump, has made waves in the cryptocurrency sector by acquiring 722 ETH for approximately $2.5 million, boosting its total Ethereum holdings to about 15,598 tokens valued at $53 million. The project aims to democratize crypto loans, challenging traditional financial institutions, while also diversifying into other cryptocurrencies like Aave and Chainlink. With significant backing from TRON founder Justin Sun, WLFI is under scrutiny as it navigates a competitive DeFi landscape amid concerns over potential conflicts of interest.
The EU's upcoming MiCA crypto regulations are reshaping the digital token market, particularly impacting stablecoins like Tether’s USDT, which many exchanges have delisted to comply. Experts warn that these regulations may reduce market liquidity and make the EU less appealing to traders, as USDT is crucial for transactions and cross-border transfers. While Circle has secured the necessary e-money license, Tether has not, potentially leading to its removal by the end of the year, amid concerns over illegal activities associated with USDT.
Donald Trump and his family, through their crypto project World Liberty Financial (WLFI), have invested approximately $65 million in six cryptocurrencies, all linked to decentralized finance (DeFi) on the Ethereum blockchain. The portfolio includes Ethena (ENA), Chainlink (LINK), Ondo Finance (ONDO), Aave (AAVE), Coinbase Wrapped Bitcoin (cbBTC), and Ethereum (ETH/WETH). Launched in September 2024, WLFI aims to provide decentralized financial services, with Chainlink's support enhancing its ecosystem.
Ark Invest CEO Cathie Wood predicts Bitcoin will exceed $1 million by the decade's end, driven by its finite supply and increasing institutional interest. She highlights Bitcoin's resistance to inflation compared to gold and anticipates a surge in mergers and acquisitions under the incoming Trump administration, facilitated by regulatory changes. Wood also welcomes the nomination of Paul Atkins as SEC chair, expecting a more favorable environment for crypto innovation and investment.
The Dow Jones Industrial Average surged nearly 400 points, reversing a 10-day losing streak, as investors reacted positively to a lower-than-expected inflation report, despite looming government shutdown concerns. Nvidia's stock attempted a recovery, while shares of Trump Media and Technology fell sharply after the president-elect moved shares to a revocable trust. FedEx initially soared over 20% on earnings but later declined, while Carnival's stock rose 3% following better-than-expected quarterly results.
UBS forecasts the S&P 500 to reach 6,600 by the end of next year, despite expectations for fewer Federal Reserve rate cuts, now anticipated in June and September 2025. The Fed is closely monitoring labor market trends and inflation, with core inflation currently at 2.8%. Investors are advised to focus on high-quality bonds and diversified income strategies while considering the overvaluation of the US dollar.
Kevin Zhao of UBS Asset Management plans to purchase US Treasuries during the holiday season, anticipating a selloff due to thin trading volumes. He believes that President-elect Donald Trump's policies will negatively impact the economy, contrary to the prevailing view that they will boost growth and inflation, thus affecting the bond market.
UBS Asset Management’s Kevin Zhao plans to purchase US Treasuries during the holiday season, anticipating a selloff due to thin trading volumes. He believes that President-elect Donald Trump's policies will negatively impact the economy, contrary to the prevailing view that they will boost growth and inflation, thus affecting the bond market.
US stocks rebounded on Friday as inflation data indicated a slowdown in price increases for November, with the Dow Jones up 0.8%, S&P 500 rising 0.7%, and Nasdaq gaining 0.6%. The core Personal Consumption Expenditures index showed monthly deceleration, although inflation remains above the Fed's 2% target. Concerns over a potential government shutdown and tariff threats from Trump weighed on global markets, while Novo Nordisk's shares plummeted 20% following disappointing trial results for its obesity drug.
The potential U.S. government shutdown could hinder the SEC's ability to meet a crucial January deadline in its lawsuit against Ripple, raising hopes for a resolution that may benefit XRP. Analysts predict a bullish price trajectory for XRP, especially if the SEC case concludes, with significant whale activity indicating increased interest. Technical analysis suggests key price levels for XRP, with a long-term target of $5.85 if bullish momentum continues.
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