In the rollercoaster turn of events, Treasury Secretary Scott Bessent announced on Sunday that the U.S and China have avoided a catastrophic 100% tariff after both parties have made substantial progress towards their negotiations.
This news has also raised hopes among the crypto community for a renewed bull market. Besset expressed that President Trump's threat of a 100% tariff last week has given him significant negotiating leverage which has been crucial to his success.
This announcement follows a period of easing tensions, culminating in President Trump confirming his upcoming meeting with China’s President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit on October 31. Previously, Trump had expressed skepticism about meeting Chinese officials, sparking fears of prolonged trade conflict.
Crypto investors and traders welcomed the news of the trade framework, driving a modest rally in cryptocurrency markets. Following Bessent’s statement, Bitcoin saw a 1.8% increase to around $115,200, Ethereum gained 3.6% to about $4,175, and Solana rose 3.7% to over $200.
Market analyst Jeff Park of Bitwise suggested the positive developments could push Bitcoin and gold to new all-time highs. Investor Anthony Pompliano echoed this optimism, forecasting a surge in asset prices if the trade deal is finalized and the Federal Reserve cuts interest rates, urging market participants to “buckle up.”
A teenage crypto developer launched a meme coin, QUANT, made quick profits, then sold off his holdings, causing the price to crash. Despite backlash, investors rallied, pushing the coin’s value to $85 million, while the developer continued launching other tokens for quick gains.
WeatherlyElon Musk and Vivek Ramaswamy's D.O.G.E plan aims to streamline the federal workforce by cutting regulations, aligning with Donald Trump’s push for efficiency and reduced bureaucracy.
KikyoSouth Africa's Schindlers Digital Assets has created a legal process allowing cryptocurrency holders to buy property, making it easier to use digital assets for real estate transactions. The first event will be a property auction on 21 November 2024, marking a key step in integrating crypto with the real estate market.
AnaisNick Neuman, CEO of CASA, shared on X how he was targeted by a scammer impersonating Coinbase support to steal his Bitcoin. When confronted, the fraudster revealed their operation, which involved using leaked databases, phishing emails, and tools like Tornado Cash to launder stolen funds.
WeatherlyFormer Binance CEO Changpeng Zhao has issued an urgent advisory, encouraging users to promptly update their macOS operating systems to safeguard against newly discovered vulnerabilities.
CatherineSouth Korean authorities have linked the 2019 Upbit exchange hack to North Korea, with over $1 billion worth of stolen ether. The investigation, aided by the FBI and Swiss authorities, traced the stolen funds, recovering some of the assets.
AnaisGary Gensler will resign as SEC Chair on 20 January 2025, as President-elect Trump takes office. His tenure was marked by clashes with Wall Street and crypto, while the looming resignation earned cheers from the crypto community.
CatherineKoji Higashi, a leading figure in Japan’s crypto space, claims the yen relies on citizens as "hostages" to economic policy, contrasting it with Bitcoin's lack of traditional backing. His comments fuel debate on financial sovereignty and the politics of currency systems.
KikyoJustin Sun purchased the duct-taped banana artwork for $6.2 million, calling it a symbol of the connection between art, memes, and cryptocurrency. The purchase has sparked debate, with some questioning whether it’s a genuine cultural statement or a calculated move to maintain his public image.
AnaisThe DeepSeek-R1-Lite-Preview is reshaping mathematical reasoning, surpassing competitors with its performance and transparency. It provides real-time insights and plans to release open-source tools, intensifying generative AI competition.
Catherine