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US Treasury Secretary Scott Bessent attributed the recent stock market decline to the emergence of Chinese AI firm DeepSeek, rather than President Trump's economic policies. He noted that DeepSeek's launch earlier this year led to a significant drop in Nvidia shares, contributing to a nearly US$600 billion loss in market value. Following this, US stocks fell about 10% amid inflation concerns and a potential economic slowdown.
Elon Musk's foray into right-wing politics is reportedly alienating potential Tesla customers, leading to a significant drop in sales, particularly in Europe and California. Analysts warn that his political activism could harm the brand, as protests and boycotts emerge against the company, coinciding with a steep decline in Tesla's stock value. Despite some loyal customers remaining, the backlash suggests a growing divide between Musk's political stance and the values of traditional Tesla buyers.
Roger Ver, founder of Bitcoin Cash, appeared in a 40-minute interview with Tucker Carlson, where he criticized Bitcoin and discussed his legal troubles, including accusations of tax evasion. His comments led to a surge in Zano's market cap from $80M to $180M, despite Bitcoin Cash and Verse being significantly down. Ver framed his situation as a fight for free speech and financial independence, urging public support against what he views as government overreach.
Roger Ver claims the US government attempted to undermine Bitcoin as early as 2011, alleging that bots flooded the Bitcointalk.org forum during its initial media exposure. He suggests that the CIA showed interest in Bitcoin early on, while also accusing US intelligence of spreading propaganda to maintain small BTC block sizes. Ver, who faces multiple charges from the US DOJ, argues that these actions hindered Bitcoin's growth and adoption.
Roger Ver, known as "Bitcoin Jesus," is contesting U.S. charges of tax evasion and fraud, claiming they stem from his cryptocurrency advocacy rather than tax issues. Arrested in Spain, he argues that the allegations are outdated and based on vague tax laws, while asserting that U.S. authorities are retaliating against his promotion of Bitcoin. Ver has filed to dismiss the charges as unconstitutional, citing unclear IRS regulations regarding digital assets.
Trump"s promises of a federal workforce overhaul could significantly impact Washington, D.C."s economy, which relies heavily on government jobs. Local leaders express concern over potential job relocations and cuts, fearing a downturn in economic activity as downtown office vacancies remain high. Despite past efforts to reduce federal presence, the number of federal employees in the region has actually increased during Trump"s previous term.
Raiffeisen Bank International AG (RBI) plans to repurchase its EUR 650,000,000 Fixed to Reset Rate Additional Tier 1 Notes from 2017, with a purchase price of 101.875%. The Tender Offer will run from November 18 to November 25, 2024, with settlement expected around November 27, 2024. Additionally, RBI may issue new perpetual fixed rate Additional Tier 1 Notes in Euro, subject to market conditions.
Tucker Carlson
People
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us treasury chief links market decline to chinese ai firm deepseek
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musk's political stance threatens tesla's sales and brand reputation
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