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  • Nov 15, 2024

In El Salvador, crypto investors cheer Trump-powered Bitcoin rally

Bitcoin enthusiasts meeting in El Salvador on Friday said a recent surge in the cryptocurrency's value since Donald Trump's U.S. election win has heightened their expectations the price will rise further and it will be adopted more broadly globally. Three years ago, President Nayib Bukele made El Salvador the first country in the world to establish Bitcoin as legal tender, alongside the U.S. dollar. The decision drew criticism from the International Monetary Fund, with whom the country is negotiating a $1.3 billion loan.

  • Nov 15, 2024

What Does Trump's Win Mean for Crypto?

Donald Trump and the Republican Party at large had a strong 2024 election, winning the presidency, Senate and House. This almost certainly guarantees crypto legislation will advance and become law sometime in the next two years. It also heralds a potentially softer approach from regulators toward the sector.

  • Nov 15, 2024

South Africa’s Outlook Turns Positive at S&P on Growth View

(Bloomberg) -- South Africa’s prospects for a credit rating upgrade improved after S&P Global Ratings lifted the nation’s outlook on its debt to positive from stable.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and Emissions“The positive outlook reflects our view that increased po

  • Nov 15, 2024

Ireland Rating Outlook Raised to Positive by S&P on Tax Receipts

(Bloomberg) -- S&P Global Ratings put a positive outlook on Ireland’s credit rating, underscoring just how robust the country’s finances are ahead of next month’s general election.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and EmissionsThe ratings firm expects Ireland to use pro

  • Nov 15, 2024

Millennium, Capula, Tudor pile bitcoin ETFs into portfolios

Hedge funds including Millennium Management, Capula Management and Tudor Investment increased their exposure to U.S. spot bitcoin exchange-traded funds in the third quarter, securities filings showed, as a popular election-driven arbitrage trade ramped up. The cryptocurrency surpassed the $90,000 level to reach an all-time high earlier this week, although it has pared gains. During the election price volatility, some hedge funds have been taking advantage of a price difference between spot bitcoin and its derivatives in the futures market in a leveraged trade, according to analysts.

  • Nov 15, 2024

New York judge rejects state efforts to shutter bitcoin mine over climate concerns

A cryptocurrency plant in central New York can continue operating after a court rejected the state’s effort to shutter the facility over concerns about its climate impact. The decision was hailed as a victory by Greenidge Generation, a large-scale crypto mine in the Finger Lakes region that has drawn the ire of environmental groups and watchdogs since it began mining bitcoin four years ago. Like other large-scale crypto-mining operations, Greenidge relies on thousands of electricity-guzzling computer servers that generate bitcoin by solving complex equations.

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