Deputy Attorney General Todd Blanche said the Justice Department will begin publishing a large collection of documents connected to the case, with the initial release scheduled for today to comply with a statutory deadline. Additional document sets are expected to be released gradually as internal reviews are completed.

According to officials familiar with the process, the records may contain investigative materials, visual evidence, and internal correspondence generated during earlier federal inquiries. Portions of the archive could remain restricted or redacted where disclosure may compromise victim privacy or intersect with unresolved investigative matters.

Also Read: How a Supreme Court decision on tariffs may give Costco and other importers money back

The legislation mandating the release faced resistance from President Donald Trump before being signed into law in November. With the first disclosures imminent, the administration is under renewed pressure from lawmakers and legal observers to demonstrate compliance with the law’s transparency provisions.

Trump is expected to address reporters from the White House later today before departing for North Carolina. His remarks are likely to draw questions regarding the timing, scope, and handling of the Epstein document release.

This live blog will provide rolling updates throughout the day as files are published and political, legal, and public reactions emerge.

The U.S. Securities and Exchange Commission has alleged that certain third-party Bitcoin mining hosting arrangements constitute securities, marking a significant enforcement action tied to an alleged $48 million fraud involving mining firm VBit Technologies.

In a civil complaint filed Wednesday in the U.S. District Court for the District of Delaware, the SEC accused VBit founder and former chief executive Danh C. Vo of misleading investors and selling unregistered investment contracts connected to hosted Bitcoin mining operations.

The agency stressed that its allegations apply to the structure and marketing of the contracts sold by VBit — not to Bitcoin mining itself or to individuals who operate mining equipment on their own.

Allegations focus on passive investment structure

According to the complaint, VBit sold “Hosting Agreements” to thousands of retail investors between late 2018 and early 2022. The agreements were promoted as a way to earn Bitcoin mining income without owning, operating, or maintaining mining equipment.

Investors were told they were purchasing mining rigs that would be pooled with others and run entirely by VBit. Returns were described as proportional to each investor’s share of computing power, measured by hashrate, with VBit responsible for sourcing equipment, managing facilities, and distributing mining proceeds.

The SEC alleges that nearly all of VBit’s customers entered into these agreements, which were offered in tiered packages ranging from lower-cost plans to higher-priced options that purportedly included multiple mining rigs.

SEC says equipment claims did not match reality

The complaint alleges that VBit did not have sufficient mining equipment to support the number of hosting agreements it sold.

In 2020, VBit is accused of selling hosting contracts covering more than 3,300 mining rigs while operating fewer than 1,000 machines. In 2021, agreements allegedly covered more than 8,400 rigs, while the company operated roughly 1,643.

As a result, the computing power promised to investors could not be delivered, according to the SEC.

The agency further alleges that investors never owned or controlled specific mining equipment and had no role in operational decisions. Instead, they were entirely dependent on Vo and VBit to generate any returns.

Why the SEC considers the contracts securities

Based on those allegations, the SEC argues the hosting agreements meet the legal definition of investment contracts under federal securities law. The agency says investors contributed money to a common enterprise and were led to expect profits derived primarily from the efforts of VBit and its founder.

Because the contracts were not registered with the SEC and were sold without required disclosures, regulators say the arrangements violated securities registration and anti-fraud provisions.

Alleged misuse of investor funds

The complaint also accuses Vo of misappropriating investor money.

According to the SEC, between December 2020 and November 2021, Vo transferred approximately $48.5 million of investor funds into personal accounts, distributed millions to family members, and used investor money for cryptocurrency trading.

The agency further alleges that investor account balances were misrepresented through an online portal that displayed hypothetical mining returns unrelated to actual Bitcoin production. Any Bitcoin that was mined was allegedly controlled solely by Vo.

Alleged departure, asset transfers, and account shutdowns

According to the complaint, Vo left the United States in 2021 after learning that the SEC was investigating VBit’s operations. Around the same period, VBit announced that it had been sold to a company called Advanced Mining Group.

The SEC alleges that the sale did not reflect a genuine transfer of business operations and instead served to give investors the impression that mining activities were continuing.

By mid-2022, customers were unable to log into their accounts or withdraw funds. The SEC says investors lost access to account information and received no further updates on the status of their mining contracts or assets.

What the SEC is asking the court to order

In its complaint, the SEC is asking the court to permanently bar Vo from violating federal securities laws and to force the return of money it says was improperly taken from investors. The agency is also seeking financial penalties and an order that would prevent Vo from serving as an officer or director of any public company.

The case has been filed as a civil action, and the SEC has requested that the claims be decided by a jury.

Also Read: Senate Committees Prepare January Review of Crypto Regulation Bill

The company is targeting the first calendar quarter of next year to complete the raise. People involved in the discussions said potential participants include large institutional investors and sovereign wealth funds, reflecting the scale of capital being sought. The structure of the round, including investor allocation and governance terms, is still being shaped.

Earlier discussions around the fundraise referenced a lower valuation, closer to $750 billion, indicating that pricing remains fluid as investor interest and capital commitments are assessed.

OpenAI’s capital needs have expanded rapidly over the past year as the company has shifted from primarily training models to operating them at scale. Running large language models in production requires continuous access to high-performance computing, with inference workloads consuming far more resources than early-stage development.

Unlike training runs, which can be scheduled and partially offset through cloud credits and long-term partnerships, inference costs scale directly with user demand. As usage grows across consumer products, enterprise services, and developer tools, those expenses are funded largely through cash rather than credits.

The company has also committed to multi-year infrastructure arrangements tied to data centers and specialized hardware. Several of those agreements involve capacity reservations rather than on-demand usage, increasing fixed costs regardless of short-term revenue fluctuations.

At the same time, OpenAI has accelerated the pace of model releases and expanded its platform offerings, including APIs, enterprise deployments, and custom tooling. Each expansion adds incremental operating and support costs alongside compute spending.

Competition among large AI developers has also driven parallel investment cycles across the sector. Companies building frontier-scale models are committing capital well ahead of monetization timelines, placing pressure on balance sheets and increasing reliance on external funding.

Hardware availability has further shaped spending decisions. Supply constraints in advanced memory components and high-performance accelerators have limited how quickly new capacity can come online. As a result, firms have increasingly sought guaranteed access through pre-purchase agreements and long-term contracts.

In parallel with private fundraising discussions, OpenAI has evaluated additional financing options, including a potential public offering at a later stage. Such a move has not been formally announced and remains exploratory.

The company has also held talks with major technology firms regarding strategic investments that would combine capital contributions with access to proprietary computing hardware. These discussions are separate from the current fundraising effort and have not resulted in disclosed agreements.

OpenAI is reported to be generating annualized revenue of approximately $20 billion, though the company does not publicly disclose profitability. Private-market data indicates OpenAI held more than $64 billion in cash and equivalents following earlier financing activity. Its most recent secondary transaction valued the company at roughly $500 billion.

Discussions around the new funding round are ongoing, and the final size, valuation, and investor mix have not been determined.

Also Read: OpenAI in Talks With Amazon Over $10B Deal and Trainium Chip Access

The markup will be conducted jointly by the Senate Banking Committee and the Senate Agriculture Committee. The legislation addresses how regulatory authority over digital asset markets is divided between the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The bill passed the House of Representatives in July with bipartisan support. On the same day, lawmakers approved separate stablecoin legislation that has since been signed into law.

The January session follows several earlier timelines for Senate consideration that were discussed but never formally scheduled. Committee placement is required before the legislation can be considered by the full Senate.

Under the bill, digital assets classified as securities would remain under SEC oversight, while assets and markets classified as commodities would fall under the CFTC’s authority. The legislation introduces statutory definitions intended to reduce situations in which firms are subject to overlapping regulation from both agencies.

Lawmakers backing the bill have said current law does not provide those definitions, leaving firms to navigate inconsistent regulatory treatment across agencies.

Some senators have focused their objections on agency structure rather than asset classification. Those objections relate to the appointment and removal of commissioners at the SEC and CFTC and the enforcement of existing bipartisan seat requirements at independent agencies.

Statements from the White House regarding future regulatory nominations have not addressed those structural concerns. Separately, recent Supreme Court cases involving presidential authority over independent agencies have been cited in Senate discussions related to commissioner tenure and removal protections.

Several Democratic senators involved in negotiations on the bill have not indicated whether they will support the legislation. Their objections focus on agency governance and enforcement authority rather than the bill’s definitions of digital asset categories.

Senate aides have said there is no confirmed Democratic support beyond those discussions. Any effort to advance the bill would therefore require additional commitments during or following committee consideration.

Views within the crypto industry also vary. Some firms have expressed support for clearer statutory boundaries between securities and commodities regulation. Other firms have objected to compliance, reporting, and recordkeeping provisions included in the bill, arguing that those requirements would impose higher relative costs on smaller companies than on larger operators.

During the January markup, committee members are expected to review the bill line by line, consider amendments, and vote on whether to report the legislation to the full Senate. Amendments under discussion include jurisdictional thresholds, compliance timelines, and limits on agency authority.

Committee staff have said issues related to governance and enforcement are likely to be addressed during the markup rather than deferred to later stages of the legislative process.

Also Read: Bitcoin, Ethereum Rise After U.S. Inflation Data Comes in Below Forecasts

The confirmation vote took place Thursday as part of a group of federal nominations approved under Senate Resolution 532. Senators voted 53–43 to confirm Selig to the post.

Selig’s confirmation comes as the Trump administration fills senior regulatory positions that affect oversight of derivatives markets and digital assets.

At the same time, the Senate confirmed Travis Hill as chair of the Federal Deposit Insurance Corporation (FDIC), placing confirmed leadership at two agencies that influence how crypto firms interact with financial markets and the banking system.

CFTC operated without a confirmed chair

Before Selig’s confirmation, the CFTC had been functioning with a limited leadership structure. The agency is designed to operate as a five-member commission, but earlier resignations left only one sitting commissioner for several months.

During that period, Caroline Pham served as acting chair. While the agency continued to carry out its statutory responsibilities, formal commission deliberations were limited with only one seated member.

Coordination with other financial regulators, including the Securities and Exchange Commission, was also limited during this period, as lawmakers continued to debate how oversight of digital asset markets should be divided between agencies.

Previous nominees for the CFTC chair role were withdrawn earlier in the year after failing to secure sufficient political support, extending the period without a confirmed chair.

Interim focus remained on internal operations

While operating under interim leadership, the CFTC focused on administrative and operational matters. The agency worked through enforcement backlogs, reviewed internal compliance processes, and updated regulatory language to better align with blockchain-based markets.

The CFTC also approved a small number of actions related to digital assets, including limited steps connected to spot crypto trading. Broader rulemaking efforts were not advanced during this period.

Selig begins term amid ongoing regulatory debate

Selig takes office with prior experience at the CFTC, having previously served in senior roles at the agency. More recently, he worked as chief counsel to the Securities and Exchange Commission’s Crypto Task Force.

He was nominated in October after the administration withdrew its earlier candidate. His term as CFTC chair is scheduled to run through April 2029.

During his confirmation process, Selig said digital asset oversight would be among his priorities. He also pointed to operational challenges at the agency, including staffing and resource constraints.

The CFTC employs roughly 543 full-time staff, compared with about 4,200 at the SEC. That difference has taken on greater significance as lawmakers consider legislation that would place oversight of crypto spot markets under the CFTC’s authority.

Transition ahead at the commission

Once Selig is sworn in, Acting Chair Caroline Pham is expected to leave the agency and join crypto payments firm MoonPay as chief legal and administrative officer.

Operating with fewer commissioners can allow decisions to move forward more quickly, but lawmakers have said that confirming additional commissioners remains an unresolved issue. Several senators have indicated that filling remaining CFTC seats will be a focus in 2026.

Selig’s confirmation ends a months-long period in which the CFTC operated without a Senate-confirmed chair.

Also Read: Senate Proposes CFTC Regulation of Bitcoin and Ether Trading

Both cryptocurrencies rose before U.S. equity markets opened, with Bitcoin trading near $89,000 and Ethereum approaching $2,980. After the opening bell, prices fluctuated and failed to remain at those levels.

At the time of reporting, Bitcoin was trading around $88,399, down about 1.6% over the past seven days. Ethereum was trading near $2,957, down roughly 6.8% over the same period. Both assets were higher by a little more than 1% on the day.

Inflation data shows slower price growth

Data released by the U.S. Bureau of Labor Statistics showed consumer prices rose 2.7% year over year in November. The reading was lower than forecasts, which had projected a higher annual increase, and marked the slowest pace since July.

Core consumer prices, which exclude food and energy costs, increased 2.6% from a year earlier. That was the lowest annual core inflation rate recorded since March 2021.

The inflation report was released later than scheduled after a government shutdown disrupted the publication of earlier economic data.

Early gains fade after market open

Following the release of the inflation data, Bitcoin and Ethereum rose during early trading hours. After U.S. equity markets opened, prices moved within a narrower range and gave up part of the earlier increase.

Trading conditions in December are often thinner than during other parts of the year, with fewer participants and shorter holding periods. These conditions can result in uneven price action, particularly in assets that already trade with higher volatility.

Lower inflation reduces pressure for further interest rate increases, but digital asset prices did not continue higher during the session.

Regulatory developments remain in focus

Ethereum trading has taken place alongside ongoing discussion in Washington around digital asset regulation. Lawmakers continue to debate proposals that would define oversight and market structure for cryptocurrencies, though no timeline for passage has been set.

Recent public remarks from U.S. political leaders have indicated openness to bipartisan participation in financial regulatory agencies that oversee securities and derivatives markets. At the same time, lawmakers have said that progress on digital asset legislation depends on agreement across party lines.

Rate-cut probabilities adjust modestly

After the inflation data was released, market pricing showed a slightly higher probability that the Federal Reserve could lower its benchmark interest rate at its next meeting. Traders priced in roughly a 26% chance of a quarter-point reduction, up slightly from the previous day.

Bitcoin and Ethereum remained close to recent trading levels through the session as markets digested the inflation data and adjusted interest-rate expectations.

Also Read: Bitcoin and Ethereum ETFs Lose $582 Million in One Day as Funds Pull Capital

The new lineup includes two bowls, a salad, a burrito, and an adobo chicken taco. Each item increases protein portions while reducing or removing rice, beans, and other traditional toppings. According to the company, protein content across the new items ranges from 15 grams to as much as 81 grams per serving.

Chipotle will also begin offering a four-ounce cup of adobo chicken that customers can order on its own or add to an existing meal. The company said the average national price for the chicken cup will be $3.82. A steak version will also be available. The protein cup is the first Chipotle menu item sold as a standalone purchase rather than as part of a full entrée.

Menu items use existing kitchen processes

All proteins used in the new menu items are prepared using the same cooking methods already in place across Chipotle restaurants. Chicken and steak for the protein offerings are cooked in batches alongside proteins used for standard bowls and burritos.

Portioning for the protein cup relies on existing serving tools, and the company has not announced changes to kitchen layouts, staffing levels, or preparation procedures related to the launch. Inventory requirements remain largely unchanged, as the menu does not introduce new sauces or specialty ingredients.

The protein cup introduces a lower-priced purchase option compared with full meals, which have risen in price in recent years. Customers can now make smaller purchases without ordering a full bowl or burrito.

Sales declined through much of the year

Chipotle reported a 0.4% decline in same-store sales during the first quarter of 2025, followed by a 4% drop in the second quarter. In the most recent quarter, same-store sales increased 0.3%. Company filings show that the increase came from higher menu prices, while transaction counts continued to fall.

Fewer customer visits offset higher average ticket sizes, limiting overall sales growth during the period. Chipotle’s share price has fallen nearly 40% during 2025.

Visit frequency fell across income groups

Company disclosures show that customer visit frequency declined across multiple income levels. The reduction was more pronounced among households earning $100,000 or less, which account for about 40% of Chipotle’s total sales.

Customers in this group visited restaurants less often during the year. Higher menu prices did not offset the decline in transactions tied to fewer visits.

Chipotle also reported fewer visits from customers aged 25 to 35. This group visited stores less often during 2025 as household expenses rose.

Protein cup adds a new price point

At an average national price of $3.82, the four-ounce protein cup sits below the cost of a standard entrée. Customers can purchase the item on its own or add it to an existing order to increase protein content without buying a second meal.

Unlike temporary promotions or discounts, the protein cup has a fixed portion size and price. Because the item uses existing proteins, food costs can be managed using current supply and preparation systems.

Chipotle has not said whether the protein cup will be bundled with other menu items or offered as part of limited-time promotions.

Customer substitution and menu scope

Some customers may choose the lower-priced protein cup instead of ordering a full bowl or burrito. Chipotle has not disclosed expected sales volumes for the new items or confirmed whether they will remain on the menu beyond the initial rollout.

The additions do not alter Chipotle’s core menu, which continues to focus on customizable bowls, burritos, and tacos. The new items rely on existing proteins, portioning methods, and kitchen processes already in use across the chain.

Chipotle has not provided guidance on how the new menu items are expected to affect traffic or average order size.

FAQs

Also Read: Crypto Isn’t Just for Trading Anymore — Here’s Where You Can Actually Use It

Trump Media & Technology Group has announced plans to merge with a privately held nuclear fusion company in an all-stock transaction valued at more than $6 billion, expanding the media company’s operations beyond social networking and into advanced energy development.

The merger would result in one of the few publicly traded companies focused on nuclear fusion, a field that aims to produce power by combining light atomic particles rather than splitting heavy atoms. Fusion has long been studied as a potential source of large-scale, low-emission energy, though commercial deployment remains under development.

Under the proposed structure, shareholders of Trump Media and the fusion company would each hold approximately half of the combined business. The agreement places a value of $53.89 per share on the fusion company’s common stock.

Shares of Trump Media, which have declined sharply over the past year, rose more than 20% in premarket trading after the announcement, reflecting renewed investor interest following the disclosure of the deal.

Expansion beyond social media operations

Following completion, Trump Media & Technology Group will operate as a holding company overseeing its Truth Social platform alongside the fusion business and its subsidiaries. Those subsidiaries include units working on power systems technology and applied life-science research tied to the company’s core fusion work.

For Trump Media, the merger adds an asset whose prospects are tied to long-term research and engineering progress rather than advertising revenue and user engagement. The company has faced ongoing volatility as a stand-alone social media operator, making diversification a central feature of its future structure.

About the fusion technology

Nuclear fusion produces energy by forcing atomic nuclei together at extremely high temperatures, releasing energy in the process. The same reaction powers stars, including the sun. Unlike conventional nuclear power, fusion does not rely on uranium or produce long-lived radioactive waste, but maintaining stable reactions at scale has proven technically difficult.

The fusion company involved in the deal has spent decades developing reactor designs, plasma control systems, and supporting technologies. Its operations also include work on related applications that could reach commercial use earlier than grid-scale fusion power.

While fusion remains years away from widespread deployment, interest in the sector has grown as governments and investors look for long-term energy sources that reduce dependence on fossil fuels.

Ownership and leadership structure

The merged company will be jointly led, reflecting the equal ownership arrangement between the two shareholder groups. No cash will be exchanged as part of the transaction, linking the future valuation of the combined business to progress in both media operations and fusion development.

The deal brings a research-heavy energy company into public markets, where it will face regular disclosure requirements and investor scrutiny that private fusion developers have largely avoided.

Whether the combined company can deliver sustained value will depend on execution across two distinct areas — maintaining an active social media platform while advancing complex energy technology toward commercial readiness.

Also Read: Trump Media’s Crypto.com Deal Puts Presidential Business Ties Under Scrutiny

According to a notice issued by the Office of the U.S. Trade Representative, the revised duties take effect from November 14, the date when the changes were first announced. Under the updated tariff schedule, covered goods from the two countries will be charged either the applicable most-favored-nation rate or a 15% duty, depending on which produces the higher levy.

The changes affect a defined set of imports rather than all cross-border trade. Products impacted include certain agricultural items, materials classified as natural resources that are not widely available within the United States, and aviation-related goods such as aircraft and component parts. The revised rules also extend to generic medicines, their active pharmaceutical ingredients, and chemical inputs used in drug manufacturing.

U.S. officials linked the tariff adjustments to an interim trade framework negotiated with Switzerland in November. The administration has set March 31 as the target date to complete and formally adopt the agreement. If talks fail to conclude by that point, the United States said it will reassess whether the tariff structure should remain in place or be modified.

Under the November agreement in principle, the United States agreed to cut tariffs on Swiss imports that had previously reached as high as 39%, lowering them to a maximum of 15%. In exchange, Swiss companies committed to expand investment in the United States, with total planned investment valued at $200 billion by the end of 2028.

Swiss companies have indicated that planned investments will be directed primarily toward U.S. manufacturing and pharmaceutical operations, sectors where Swiss firms already maintain large facilities and workforces. U.S. officials said the tariff structure will remain subject to review until a final agreement is completed.

Also Read: U.S. Announces New Import Tariffs on 66 Countries, Impacting Consumer Prices and Trade

The talks, which remain unresolved, place OpenAI’s valuation near $500 billion, according to reporting that cites individuals aware of the negotiations. The proposed agreement would also give OpenAI access to Amazon’s Trainium AI chips, expanding its computing options beyond Nvidia’s dominant hardware.

Such access would be a significant boost for Amazon’s semiconductor ambitions. While Nvidia still controls the bulk of the AI accelerator market, Amazon has invested heavily in Trainium to reduce reliance on external chip suppliers and attract large AI developers to its cloud platform.

A continuation of deepening ties

The discussions follow a major agreement signed in November, when OpenAI committed to purchasing $38 billion in computing capacity from Amazon Web Services. OpenAI chief executive Sam Altman described that deal at the time as necessary to secure large-scale, dependable compute for future growth.

Since completing a corporate restructuring in October, OpenAI has moved quickly to lock in capital and infrastructure partnerships. That restructuring was designed to give the company more flexibility in negotiating large strategic investments rather than relying on a single backer.

OpenAI has since announced or entered into infrastructure and funding arrangements totaling more than $1.4 trillion in commitments, involving chipmakers such as Nvidia, AMD, and Broadcom. The scale of those agreements has drawn attention to how aggressively the company is securing long-term compute supply.

Pressure on the AI investment cycle

The pace of dealmaking has revived concerns about excess spending across the AI sector, particularly where capital investment appears disconnected from near-term revenue. Those concerns sharpened last week after Oracle shares dropped sharply following earnings that highlighted rising AI-related costs without matching returns.

A potential Amazon investment would further concentrate OpenAI’s relationships with major infrastructure providers, while also positioning Amazon more directly against Microsoft, which remains OpenAI’s largest strategic partner through Azure.

Also Read: MoEngage Raises $180M More Weeks After $100M Round, Valuation Nears $1B

The latest funding includes $123 million in secondary transactions, allowing existing shareholders and employees to sell stock, alongside $57 million in new capital going directly into the business. As part of the secondary component, the company ran a $15 million employee tender, giving liquidity to 259 current and former staff members.

The round was led by ChrysCapital and Dragon Funds, with participation from Schroders Capital and existing shareholders TR Capital and B Capital. Several early investors exited partially or fully through the secondary sale, including Eight Roads Ventures, Helion Venture Partners, Z47, and Ventureast.

Valuation and financial position

The transaction values MoEngage at more than $900 million post-money, according to a person involved in the deal. The company is also tracking toward $100 million in annualised recurring revenue this year, though it has not publicly disclosed financial figures.

MoEngage expects to reach EBITDA profitability this quarter, according to co-founder and chief executive Raviteja Dodda, and is targeting around 35% compound annual growth over the next three years.

Where the primary capital is going

The fresh capital entering the business will be directed mainly toward product development and artificial intelligence, rather than sales expansion or market blitzes.

MoEngage plans to invest further in its Merlin AI suite, including the use of AI agents designed to help marketing, product, and engineering teams make faster decisions using customer data. The company is also bundling analytics, engagement, and transactional messaging into a broader product aimed at increasing contract sizes and expanding beyond traditional marketing teams.

Customer engagement, Dodda said, is no longer limited to marketing. Product and engineering teams increasingly rely on the same data to understand user behaviour, retention, and conversion.

Acquisition plans in the West

MoEngage is also setting aside capital for select acquisitions, primarily in the United States and Europe. The focus is on software companies that either complement its engagement platform or bring specialised AI capabilities. The company is also open to acquiring small AI teams to strengthen internal product development.

A global business built with Indian cost discipline

Founded 11 years ago, MoEngage is headquartered in Bengaluru and San Francisco and operates across 75 countries. More than 30% of its revenue comes from North America, around 25% from Europe and the Middle East, and the remaining 45% from India and Southeast Asia.

One factor cited by investors is the company’s ability to compete globally while maintaining an India-based cost structure, which has helped it price competitively in the U.S. market without sacrificing margins.

Liquidity without pressure to list

The heavy use of secondary transactions allows MoEngage to provide returns to early shareholders and employees without forcing a near-term public offering. Dodda said the company does not face pressure to list immediately and expects to consider an IPO in a couple of years, depending on market conditions.

Including this round, MoEngage has now raised about $307 million in primary capital since inception. Avendusadvised the company on the transaction.

Also Read: STMicroelectronics Shipped Over 5 Billion Chips for Starlink Over 10 Years

The pledge was announced Wednesday and represents a direct allocation of sovereign digital asset reserves to a domestic infrastructure project. The government said the Bitcoin will be reserved specifically for GMC and will not be sold as part of the initiative.

King Jigme Khesar Namgyel Wangchuck addressed the project during his National Day speech, stating that the development is intended to benefit citizens across the country rather than a single region.

Under the plan, land tied to the project will be treated under a shareholder-style framework. Because most land is state-owned, the government said citizens from all districts will have a stake in the city’s long-term performance.

Bitcoin held for development, not liquidation

GMC board director Jigdrel Singay said the Bitcoin allocation will remain ring-fenced for the project and managed as a long-term reserve.

According to Singay, the government is evaluating multiple ways to use the holdings without selling them, including collateral-based structures, conservative yield strategies, and treasury management approaches designed to preserve value over time.

No final structure has been selected, and officials said decisions will be made in stages as the project advances.

One of the largest sovereign crypto commitments to infrastructure

The allocation ranks among the largest known cases where a government has committed digital assets directly to infrastructure development rather than treating them solely as financial reserves.

Bhutan has accumulated Bitcoin over several years, primarily through mining operations powered by domestic hydroelectric resources. The country currently holds 5,984 BTC, worth more than $520 million, placing it among the top sovereign Bitcoin holders globally, according to blockchain data.

This year, GMC formally designated Bitcoin, Ethereum, and BNB as strategic reserve assets. The city has also partnered with Binance Pay to enable cryptocurrency payments across parts of the tourism sector.

Separately, Bhutan integrated its national digital identity system with Ethereum, becoming the first country to anchor population-scale identity records on a public blockchain.

Recent digital asset initiatives at GMC

Last week, GMC introduced TER, a gold-backed digital token issued on Solana, with DK Bank acting as the exclusive distributor. The token is positioned as a regulated digital asset tied to physical gold reserves.

Officials said the issuance is intended to support controlled experimentation with digital assets while maintaining oversight and transparency standards.

The government said all digital asset initiatives connected to GMC will operate under defined governance rules, with an emphasis on long-term stewardship rather than short-term market activity.

Also Read: Bitcoin and Ethereum ETFs Lose $582 Million in One Day as Funds Pull Capital

Bitcoin spot ETFs saw net redemptions of $357.6 million over the session, according to ETF flow data. The selling was spread across multiple products, including offerings from Fidelity, Ark Invest, and Bitwise. BlackRock’s Bitcoin ETF ended the day with little change.

Ethereum spot ETFs followed a similar pattern. Net outflows reached nearly $225 million, marking the biggest single-day reduction since early in the month.

ETF flows weaken despite stable crypto prices

The withdrawals came even as Bitcoin and Ethereum prices remained within their recent trading ranges. That divergence suggests the selling was driven by portfolio rebalancing rather than sharp moves in crypto markets themselves.

Spot ETFs have become the fastest way for large investors to adjust digital asset exposure. When equity markets come under pressure, these products are often used to reduce risk quickly.

December flows remain negative for Bitcoin ETFs

So far this month, Bitcoin ETFs have recorded more money leaving than entering. December redemptions total roughly $705 million, compared with about $480 million in inflows, leaving the segment with a net decline of around $225 million.

Ethereum ETFs have shown a more even pattern. Inflows and outflows have been close to balanced, leaving total exposure near flat for the month.

Equity and rate pressures weigh on positioning

The latest ETF outflows coincided with renewed uncertainty around U.S. interest rates and a pullback in technology stocks. Yields on 10-year U.S. Treasury notes climbed to around 4.2%, the highest level since early September, tightening financial conditions across markets.

As equity volatility increased, crypto ETFs were sold alongside other risk assets. Unlike earlier selloffs driven by forced liquidations, recent withdrawals reflect deliberate position trimming by institutions.

Crypto demand remains muted in the near term

Despite avoiding a sharp price breakdown, crypto markets have struggled to attract consistent new buying. Trading activity has remained thin, and price rebounds have been met with selling.

ETF holdings remain substantial overall, but recent flow data shows that institutional investors are prioritizing flexibility and liquidity while macro conditions remain unsettled.

Also Read: Trump Media’s Crypto.com Deal Puts Presidential Business Ties Under Scrutiny

Crypto.com spent more than a year under scrutiny by U.S. financial regulators, facing the prospect of enforcement action tied to its operations in the cryptocurrency market. That risk faded after Donald Trump returned to the White House. Within months, the company emerged not only free of investigation but tied financially to Trump’s media business.

The crypto exchange later committed roughly $1 billion in digital assets to a joint venture with Trump Media & Technology Group, the parent company of Truth Social. The arrangement has drawn attention from legal scholars and ethics specialists, who say it highlights concerns about business relationships involving companies overseen by federal regulators and a sitting president whose family controls private enterprises.

Crypto.com confirmed that a regulatory inquiry into the company was closed earlier this year. Public records show that, during the same period, the firm increased its political spending, including donations to committees aligned with Trump and payments to a lobbyist with close ties to the president.

From investigation to partnership

Under the previous administration, regulators had warned Crypto.com that enforcement action was under consideration. The inquiry was later dropped after Trump’s election victory. The company says the decision was based on a lack of evidence, not politics.

Shortly afterward, Trump Media announced a new venture focused on managing reserves for Crypto.com’s Cronos token. Trump Media contributed limited capital to the project but received a significant ownership stake, according to regulatory filings. The bulk of the assets backing the venture came from Crypto.com.

Trump Media, which has reported large operating losses since launching in 2021, has been expanding beyond social media into financial services and digital assets. The Cronos treasury deal marks one of its largest crypto-related moves to date.

Political spending and access

Campaign finance disclosures show that Crypto.com donated $1 million to Trump’s inauguration fund and $10 million to a political action committee supporting his candidacy. The company also hired a lobbyist who worked closely with Trump allies and later contacted regulators on crypto policy matters.

Crypto.com says the lobbyist had no role in the investigation and denies any link between its political contributions and the outcome of the regulatory review.

Ethics experts argue that the sequence of events creates an appearance problem, even if no rules were broken. Modern presidents have typically taken steps to separate themselves from private business dealings to avoid such situations, said former government ethics officials.

Trump Media’s move into crypto

Trump Media was created to support Truth Social, a platform launched after Trump was removed from major social networks following the January 6 Capitol attack. The company later went public and has since struggled to reach profitability, reporting losses exceeding $400 million last year.

After the listing, Trump Media broadened its ambitions. It announced plans for a streaming service, financial products, and digital-asset ventures. Trump’s own views on cryptocurrency have also changed over time. After dismissing Bitcoin as a scam in 2021, he later embraced the sector during his campaign and pledged to ease oversight.

Members of Trump’s family have launched separate crypto businesses and token projects. Some companies and individuals involved in those efforts later benefited from regulatory decisions, including paused investigations or presidential pardons, according to public records.

Structure of the Crypto.com deal

The Cronos venture is structured so that Crypto.com supplies most of the funding in the form of its own digital tokens. Trump Media’s contribution consists largely of branding rights and intellectual-property licenses, filings show. A third partner, a financial firm that has previously worked with Trump Media, is providing credit support.

All parties are expected to hold majority interests, though exact ownership percentages have not been disclosed.

Critics say the economics of the deal raise questions about whether the arrangement would have been possible without the regulatory outcome. Supporters counter that the partnership reflects market confidence and shared commercial interests.

Official responses

The White House has said the president placed his business assets into a trust overseen by his sons and that neither he nor his family engages in conflicts of interest. Trump Media has rejected claims that the deal is improper, dismissing reporting on the matter as politically motivated.

Crypto.com maintains that its regulatory case was closed on the merits and that its political activity played no role. Regulators have not commented publicly on the specifics of the decision.

What remains clear is that the deal places a major cryptocurrency firm and a company controlled by the president’s family in a shared financial venture—an arrangement that continues to fuel debate over ethics, influence, and oversight in Washington’s approach to digital assets.

Also Read: Trump Media Partners With Crypto.com to Launch Truth Predict Market on Truth Social

The offering could raise about $300 million, according to Chinese media reports, a figure confirmed by one of the sources. Two of the people said the company could begin the IPO process as early as this month, with trading expected in January.

Biren, based in Shanghai, is among a group of domestic chipmakers aiming to supply advanced processors to Chinese customers as access to U.S.-made semiconductors remains restricted. The company focuses on graphics processing units (GPUs) used in artificial intelligence workloads.

A notice published on Monday by the China Securities Regulatory Commission (CSRC) showed that Biren plans to issue up to 372.5 million shares in Hong Kong. Existing shareholders will also convert 873.3 million mainland-listed shares into Hong Kong-listed stock as part of the transaction.

The sources declined to be identified because the information is confidential. Biren did not respond to a request for comment.

Biren’s listing comes after recent GPU IPOs

Biren’s planned Hong Kong listing follows recent IPOs by Chinese GPU developers Moore Threads and MetaX, both of which attracted heavy demand from investors. Moore Threads’ shares climbed more than 400% during its Shanghai debut earlier this month.

Founded in 2019, Biren was set up by Zhang Wen, a former president at facial recognition firm SenseTime, and Jiao Guofang, who previously worked at Qualcomm and Huawei.

The company drew market attention in 2022 after unveiling its first products, including the BR100 chip, which Biren said was designed for large-scale AI computing workloads comparable to Nvidia’s H100.

In 2023, Biren was placed on the U.S. Commerce Department’s Entity List, cutting off its access to advanced manufacturing services from Taiwan Semiconductor Manufacturing Company. The move forced the company to adjust its production strategy.

Before a funding round in the first half of 2025, Biren was valued at about 14 billion yuan ($2 billion). It raised roughly 1.5 billion yuan in that round, with participation from government-linked investors in Shanghai and Guangdong.

Other shareholders include Qiming Venture Partners, IDG Capital, Hillhouse Investment’s venture arm, the Russia-China Investment Fund, Country Garden Venture Capital, and New World Group, according to the company’s disclosures.

Bank of China International, CICC, and Ping An Securities are acting as joint sponsors on the IPO. Ping An declined to comment, while the other banks did not respond to requests for comment.

Also Read: SpaceX Reaches $800 Billion Valuation and Outlines Plan for 2026 IPO

Bitcoin fell below $86,000 on Monday for the first time in two weeks, extending a slide that has pushed the cryptocurrency closer to its lowest levels of the year.

The world’s largest digital asset dropped as much as 3.7% to $85,171 before recovering modestly during Asian trading on Tuesday. Prices later slipped again to around $85,575 in Hong Kong. Bitcoin is now down roughly 30% from its record high above $126,000 reached in early October.

Market participants said selling has continued to emerge near the upper end of Bitcoin’s recent range, particularly from investors who bought near the peak and are using any rebound to exit positions. That has kept the token confined to a broad band between roughly $85,000 and $94,000.

Trading activity has remained subdued across crypto markets. Volumes have stayed low, and price moves have lacked follow-through, according to derivatives data.

Bitcoin’s weakness has also stood out relative to other risk assets. While stocks and bonds have shown intermittent rebounds in recent weeks, Bitcoin has failed to participate, breaking its typical tendency to move higher alongside broader markets. Traders pointed to thin liquidity and reduced appetite for risk, even after the Federal Reserve cut interest rates last week.

The broader macro backdrop remains uncertain. The final full trading week of 2025 opened with uneven moves in equities, bonds, and currencies as investors awaited economic data expected to influence the Fed’s next policy decisions.

Unlike previous selloffs, Bitcoin’s latest decline has not been driven by large-scale forced liquidations. Instead, market participants said positioning in spot and derivatives markets has played a larger role. Liquidation data suggests many overleveraged trades were already unwound earlier, leaving selling that is slower but more persistent.

One notable exception to the broader retreat has been Strategy Inc., the Bitcoin-focused treasury company formerly known as MicroStrategy. The firm disclosed on Monday that it purchased nearly $1 billion worth of Bitcoin for a second straight week.

Most of the purchases were funded through at-the-market sales of the company’s Class A common stock, along with sales of three of its four classes of perpetual preferred shares. Critics of the strategy have warned that repeated equity issuance could dilute existing shareholders and reduce the premium at which the stock trades relative to its Bitcoin holdings, now valued at roughly $59 billion.

Losses extended beyond Bitcoin. Ether, Dogecoin, and XRP each fell about 5% on Monday, while shares of crypto-related companies also declined. Strategy shares dropped more than 9% at one point, and Coinbase Global fell around 7%.

Despite the absence of widespread forced selling in Bitcoin, the broader market downturn triggered liquidations of approximately $520 million in bullish positions across all cryptocurrencies over the past 24 hours, according to data from Coinglass.

Bitcoin last touched a low for 2025 in April, when prices fell to around $74,400 after President Donald Trump’s initial tariff proposals disrupted global financial markets.

Also Read: Bitcoin Could Reach Multi-Million Levels in 15 Years — How Much Would You Need to Retire?

The fund, called My OnChain Net Yield Fund, or MONY, will open to qualified investors this week. JPMorgan is seeding the fund with $100 million of its own capital, according to the bank, before making it available through its Morgan Money platform.

Access is limited to high-net-worth clients. Individuals must hold at least $5 million in assets, while institutions need $25 million or more. The minimum investment is $1 million, keeping the product firmly aimed at professional investors.

At its core, MONY functions like a traditional money-market fund. What’s different is how ownership works. Investors receive a token issued on Ethereum that represents their stake in the fund. That token can be held on-chain while continuing to earn yield, rather than sitting inside a conventional custody account.

Why JPMorgan built MONY on Ethereum

JPMorgan selected Ethereum to issue and settle MONY because the network already supports institutional-grade token issuance, custody, and settlement at scale.

Money-market funds rely on frequent settlement and precise record-keeping. By issuing fund shares as tokens on Ethereum, ownership can be recorded directly on-chain, reducing the need for internal reconciliation across multiple systems. Investors hold the token itself, rather than relying solely on back-office entries to track their position.

The structure allows yield to accrue while the token remains on-chain, without changing how the underlying fund operates. From the investor’s perspective, the exposure remains the same; what changes is how ownership is represented and transferred.

The fund is supported by JPMorgan’s Kinexys Digital Assets infrastructure, which the bank introduced last year to handle blockchain-based issuance, custody coordination, and settlement for institutional products.

Money-market funds move first onto public blockchains

Money-market funds have become one of the first traditional products to move onto public blockchains because of how they operate.

They hold short-dated assets, generate predictable returns, and settle frequently. That makes them easier to issue and track on-chain than products with complex pricing or long lock-up periods.

Several large asset managers have already placed cash and government bond funds on public networks, using blockchain settlement instead of closed internal systems. These products do not change how the funds invest; they change how ownership is recorded and transferred.

JPMorgan said the structure fits money-market funds because investors focus on liquidity and accurate settlement, not active trading features.

JPMorgan is testing more than one blockchain

Although MONY runs on Ethereum, JPMorgan’s blockchain work is not limited to a single network.

In recent weeks, the bank has outlined plans for structured notes linked to Bitcoin’s price and has explored the use of deposit tokens on blockchain infrastructure used by crypto-native firms. It has also arranged the issuance of tokenized commercial paper on Solana for institutional clients, using public blockchain rails to settle short-term corporate debt.

Each project focuses on moving familiar financial instruments—cash deposits, money-market funds, or commercial paper—onto blockchain systems, rather than creating new crypto-only products.

What JPMorgan is actually changing

MONY does not alter how a money-market fund earns yield or manages risk. What it changes is how ownership is recorded and transferred.

Instead of relying on internal databases and delayed settlement, fund shares exist as tokens on a public blockchain. Transfers can be reflected immediately, with ownership visible on-chain rather than reconciled later through back-office processes.

Access to MONY remains limited to qualified investors, but the structure mirrors how traditional funds could operate if tokenized settlement becomes standard.

MONY adds another example of Ethereum being used to record and settle regulated financial products, rather than for trading or speculative activity.

Also Read: Bitcoin Could Reach Multi-Million Levels in 15 Years — How Much Would You Need to Retire?

An independent review of retirement expenses in almost 100 countries translated those costs into Bitcoin instead of local currencies. In many lower-cost countries, the total comes out well below one Bitcoin. In wealthier countries, higher living expenses push the required amount much higher.

The estimates are based on holding Bitcoin over time and selling small portions to cover retirement spending, rather than trading frequently or selling all holdings at once.

High-cost countries require more Bitcoin

In countries with high housing, healthcare, and service costs, retirement expenses remain elevated even after leaving the workforce.

The study estimates that people in countries such as Switzerland, Norway, Ireland, Luxembourg, Australia, New Zealand, Singapore, and Bermuda may need between one and five Bitcoins, depending on age and expected retirement length.

Younger individuals face higher requirements because they are expected to spend more years in retirement, increasing total lifetime costs.

Moderate needs in North America, Europe, and East Asia

In major developed economies, the estimated Bitcoin requirement is lower than in the most expensive jurisdictions but remains substantial.

• United States and United Kingdom: generally around 0.5 to 1 Bitcoin

• Canada: starting near 0.3 Bitcoin for older age groups

• Germany, France, Spain, Italy: typically below one Bitcoin, supported by public pension systems

• Japan and South Korea: moderate requirements, reflecting lower retirement spending despite long life expectancy

State pensions and national healthcare systems reduce the amount of private savings needed across much of Europe and East Asia.

Lower thresholds across Latin America, Southeast Asia, and Eastern Europe

In many middle-income regions, lower daily expenses lead to much smaller retirement funding needs.

Countries such as Mexico, Brazil, Colombia, Peru, Chile, Poland, Romania, Hungary, Thailand, Vietnam, Indonesia, Malaysia, and the Philippines show estimates well below one Bitcoin for most age groups.

Outside major cities, some projections fall closer to 0.1 to 0.3 Bitcoin, reflecting lower housing and service costs.

The smallest amounts appear in low-cost economies

The lowest Bitcoin requirements appear in countries with very low living costs.

In parts of Africa and South Asia, including Bangladesh, Nepal, Sri Lanka, Nigeria, Cameroon, Ethiopia, and South Sudan, the study suggests that retirement for some age groups could be supported with as little as 0.01 to 0.05 Bitcoin.

These figures reflect daily expenses rather than income security, and outcomes vary widely depending on access to healthcare and inflation conditions.

Estimated Bitcoin Needed for Retirement by Country

Why age changes the calculation

Age is one of the most important factors in the study.

People closer to retirement require less Bitcoin because they are expected to draw funds for a shorter period. Younger individuals require more because retirement may span several decades.

The study does not assume early retirement and is based on standard retirement ages in each country.

The long-term Bitcoin price assumption

To convert retirement costs into Bitcoin, the research uses a long-term price assumption based on Bitcoin’s historical lifespan and past growth behavior.

Bitcoin is currently under 17 years old. Using the same historical framework, the study estimates that Bitcoin’s price could reach the multi-million-dollar range over the next 15 to 20 years. The estimate is not a forecast of timing and does not account for market cycles or short-term volatility.

How location changes the retirement math

The numbers make one thing clear: retirement costs look very different once they are measured against local prices rather than headline Bitcoin forecasts.

In countries where housing, food, and healthcare remain relatively affordable, the amount of Bitcoin needed to cover decades of expenses stays low. In higher-income economies, those same costs continue to add up long after retirement begins, pushing the required Bitcoin balance much higher even before inflation is considered.

The gap does not come from Bitcoin itself but from differences in daily living costs and how long retirees are likely to draw on their savings. That range explains why a fraction of a coin may cover retirement in some countries, while several coins may still fall short in others.

Also Read: A Crypto Trading Below $1 Is Quietly Beating the Market

The chips are installed in customer terminals on the ground, where they handle communication between user equipment and Starlink’s low-Earth orbit satellites. STMicro began supplying SpaceX around 2015, when Starlink was still in development, and volumes have grown steadily as the network expanded.

Remi El-Ouazzane, who heads STMicroelectronics’ microcontrollers and digital integrated circuits business, said the number of terminals produced over the past decade could be matched again within the next two years, reflecting continued growth in satellite internet deployments. He did not provide shipment forecasts.

The antenna chips are manufactured using BiCMOS technology, which combines bipolar and CMOS processes to support high-frequency data transmission. El-Ouazzane said similar chip designs are being considered by other companies developing low-Earth orbit satellite systems.

Starlink currently operates in more than 150 markets and reports about 8 million users worldwide, according to information published by SpaceX. The network is part of a broader expansion of commercial satellite broadband services, alongside projects led by Eutelsat’s OneWeb and Amazon.

The spread of these satellite networks has increased demand for semiconductors that can operate in harsh environments while handling large volumes of data. STMicroelectronics supplies components designed for such conditions across several space-related programs.

In addition to chips used in Starlink user terminals, STMicro is supplying components for SpaceX systems that enable satellites to exchange data directly through laser links. The company is also working with European aerospace groups, including Thales and Eutelsat, on satellite projects such as the European Union’s Iris² constellation.

STMicroelectronics’ role in these programs places the company among a small group of chipmakers supplying hardware used in large-scale commercial satellite networks.

Also Read: SpaceX Reaches $800 Billion Valuation and Outlines Plan for 2026 IPO

The proposed facility is valued at about 10 trillion won ($6.8 billion) and would refine zinc, antimony, germanium, and other minerals that are essential inputs for semiconductors, telecommunications equipment, and military hardware. Korea Zinc is the world’s largest zinc smelting company, and the project would mark one of its most significant investments outside South Korea.

According to people briefed on the plan, the smelter would be designed to process raw materials sourced outside China, addressing concerns in Washington about supply concentration and export controls. China currently dominates global production and processing of antimony and germanium, two minerals that have drawn increased attention from defense planners and chipmakers.

Shares of Korea Zinc rose about 11% in morning trading after reports of the board discussion. The market reaction came despite strong opposition from major shareholders who are pressing for changes in the company’s leadership.

Investment structure under review

People familiar with the proposal say U.S. government entities and U.S. defense-related companies would invest roughly 1 trillion won in the joint venture. In addition, the U.S. side would acquire around a 10% stake in Korea Zinc. Such an arrangement would be unusual, as the U.S. government rarely takes equity positions in foreign industrial companies, particularly in the mining and smelting sector.

Most of the remaining capital needed for the project would be raised through borrowings, according to the same sources. The scale of the financing makes the project one of the largest overseas industrial investments by a South Korean metals producer.

Korea Zinc has not issued an official comment. The people discussing the matter asked not to be identified because the board has not yet made a decision.

Major shareholders oppose proposal

The proposal has intensified an ongoing dispute between Korea Zinc’s management and its largest shareholders. Young Poong Group, together with private equity firm MBK Partners, controls about 41% of the company’s voting rights.

Young Poong has criticized the U.S. smelter plan, arguing that management is seeking strategic allies to reinforce its position rather than addressing governance concerns raised by shareholders. Earlier this year, Young Poong and MBK attempted to secure a majority of board seats but failed, leaving control with the current leadership.

The disagreement has kept corporate governance and capital allocation under scrutiny as Korea Zinc evaluates large, long-term investments.

China export restrictions on key minerals

China’s dominance of critical minerals has become a central issue for governments and manufacturers. Antimony and germanium are used in infrared optics, satellite systems, semiconductors, and military communications equipment.

In December 2024, China restricted exports of antimony and germanium to the United States following U.S. measures targeting China’s chip industry. Although those restrictions were later suspended, the move highlighted the vulnerability of supply chains that depend on a single country.

Korea Zinc has already taken steps to address these risks. In August, the company agreed with Lockheed Martin to produce germanium from 2028 using raw materials sourced outside China, signaling a shift toward alternative supply routes.

The proposal would add U.S.-based processing capacity for zinc, antimony, and germanium and expand Korea Zinc’s operations beyond China-linked supply chains.

Also Read: South Korea, U.S. Finalize Foreign Exchange Deal for $350B

Despite that performance, Tron continues to trade at around $0.25, a price that suggests a small or speculative project. That assumption does not line up with the network’s actual scale or activity.

Tron isn’t small — it’s ignored

Tron operates a full Layer-1 blockchain with its own validator set, smart-contract system, and developer ecosystem. The network processes millions of transactions per day, driven largely by stablecoin transfers rather than speculative trading.

In particular, Tron has become one of the primary rails for USDT (Tether). Large volumes of dollar-pegged transactions move through the network daily, especially in regions where banking access is limited and transfer fees matter. This usage is consistent, transactional, and utility-driven — not dependent on short-term hype cycles.

That activity places Tron among the most heavily used blockchains in the world. Yet it remains largely absent from U.S. crypto conversations, analyst coverage, and institutional narratives. The gap between usage and visibility is unusually wide for a top-10 cryptocurrency.

Why the U.S. market matters

Cryptocurrency pricing remains heavily influenced by U.S. capital flows. Liquidity, derivatives markets, ETF exposure, and media attention are still concentrated there. Projects that fail to gain traction in the U.S. often see their valuations stall, regardless of global usage.

Tron fits that pattern. Its user base is international, but its exposure to U.S. investors is limited. As a result, TRX trades at levels that reflect regional utility rather than global relevance.

If Tron gains stronger footing in U.S. exchanges, corporate usage, or public markets, the current pricing framework would need to adjust. That adjustment would not require a change in technology — only a change in where demand comes from.

Justin Sun changes the equation — for better or worse

Tron’s strategic direction remains closely tied to its founder, Justin Sun. Sun has built a reputation for aggressive expansion, high-profile deals, and public visibility. That approach has kept Tron in circulation during periods when many older blockchains faded from relevance.

More recently, Sun’s political alignment with Donald Trump and the creation of Tron Inc., a Nasdaq-listed company, have brought Tron closer to U.S. financial infrastructure than at any point in its history. Public markets introduce a different level of disclosure, scrutiny, and accountability — but they also open access to capital and legitimacy that crypto-only projects often lack.

This concentration of influence also creates risk. Tron’s perception, regulatory exposure, and expansion efforts are directly tied to Sun’s decisions. Investors are not betting on a decentralized narrative alone; they are betting on leadership.

The part investors can’t ignore

Tron launched in 2018, and its all-time high remains below $0.50. The token has never crossed $1, and it has spent years trading in a narrow range. That history places a hard ceiling on expectations.

At the same time, Tron’s current performance contradicts the idea that it is a stalled project. In a year when the two largest cryptocurrencies are down, Tron has posted gains while maintaining high network activity and stablecoin dominance.

That combination — low price, high throughput, real usage, and renewed U.S. exposure — is rare among large-cap cryptocurrencies.

Tron does not need a narrative shift to justify attention. The data already exists. What remains unanswered is whether the market chooses to notice it.

Also Read: Ripple, Circle and Other Crypto Firms Win Initial Approval to Form National Trust Banks

What Emerged From Trump’s Meeting With Warsh

Trump met with Warsh this week, and according to people familiar with the discussion, Warsh argued that borrowing costs should come down.
Warsh, who served on the Federal Reserve Board during the 2008 crisis, has kept a strong presence in monetary-policy circles through research and commentary. His experience at the central bank is viewed by some investors as a point of stability during a period of economic uncertainty.

Hassett, who leads the National Economic Council, has been part of Trump’s economic team since the first term. Several executives who have spoken with the administration say Hassett is seen as more open to faster rate cuts.

Trump said he expects to choose a nominee “within the next few weeks.”

How Trump Described the Role of the Next Fed Chair

Speaking later at the White House, Trump said the person he appoints should keep him informed about how the committee is thinking about interest rates. While he acknowledged that the Fed would still make its own decisions, he made clear he wants more direct communication on policy matters than previous presidents have requested.

Trump has repeatedly said that rates should fall far below current levels and argued this week that a policy rate near 1%would be appropriate.

How Investors Are Reading the Two Candidates

Banks and asset managers are evaluating what each contender would mean for the timing of future rate changes. At a private event for investment leaders in New York, JPMorgan CEO Jamie Dimon said Hassett appears more inclined to support near-term cuts, according to people familiar with the conversation.
Dimon also spoke favorably about Warsh’s earlier work at the Fed and said he would be a capable chair.

Their reactions underscore how market participants are tracking the search, given the stakes for credit costs, bond yields, and business investment.

Fed Policymakers Remain Split After Latest Rate Move

The Fed lowered its benchmark rate on Wednesday for the third meeting in a row, bringing the target range to 3.5%–3.75%. Three officials dissented, showing that the committee is divided on how quickly to ease.

The next chair will inherit an institution working through uneven inflation data, slowing job growth, and pressure from the White House for deeper cuts — conditions that will shape one of the most consequential early decisions of Trump’s second term.

Also Read: Trump May Replace Fed Chair Jerome Powell: Kevin Warsh and Waller Top List

Strategy shifted its identity in 2020 when it began directing its capital toward buying Bitcoin rather than expanding its legacy software operations. Since then, its market value has moved in near lockstep with the cryptocurrency. While the company still sells software, those revenues play a minimal role in shaping its stock price. Instead, investors see Strategy as a publicly listed vehicle for gaining exposure to Bitcoin, sometimes referring to it as a “corporate Bitcoin fund” rather than a technology firm.

This unusual position places Strategy in a category that traditional benchmarks were not designed to accommodate. The Nasdaq 100 tracks the largest non-financial companies listed on the exchange by market value. Strategy qualifies on size alone, but its business model blurs the line between an operating company and a digital-asset holding entity. That tension has raised questions about whether inclusion should depend solely on market capitalization or on the nature of a company’s economic activity.

The decision to keep Strategy in the index comes during a broader review by global index providers. MSCI, which manages widely used international benchmarks, has said it is evaluating whether companies whose valuations depend primarily on cryptocurrency holdings are appropriate for traditional equity indexes. MSCI will issue its decision in January, and the outcome may influence how other index builders update their rules as more companies adopt similar treasury strategies.

The latest Nasdaq reshuffle removed companies such as Biogen, GlobalFoundries, Lululemon Athletica, On Semiconductor, CDW, and The Trade Desk. Added to the index were Seagate Technology, Western Digital, Ferrovial, Alnylam Pharmaceuticals, Insmed, and Monolithic Power Systems. These changes take effect December 22.

Fund managers say the issue is less about Strategy in particular and more about what its inclusion represents. If companies whose value is driven by a single volatile asset remain eligible for major benchmarks, indexes could end up more exposed to cryptocurrency swings than intended. That exposure would flow into pension funds, ETFs, and retirement accounts that track these benchmarks automatically.

Index providers say the core issue is classification. Equity benchmarks sort companies based on their primary source of business activity, and Strategy’s filings show that its operating revenue plays a limited role in determining its market value. Because most of its valuation now reflects Bitcoin held on its balance sheet, index committees are reviewing whether it should remain grouped with technology companies or placed in a separate category.

MSCI’s upcoming January review is expected to address this directly. People familiar with the process say the firm is examining whether Bitcoin-treasury companies should be treated like traditional operating businesses or flagged as balance-sheet-driven entities, similar to how some commodity-holding firms are classified. The outcome could influence how other benchmarks evaluate similar companies later this year.

Also Read: Michael Saylor Firm Raises STRC Dividend to 10.5 Percent

The new valuation reflects a per-share price of $421, nearly twice the level used during SpaceX’s mid-2025 tender offer, when investors bought and sold shares at $212. At that time, SpaceX was valued at roughly $400 billion.

The updated figure pushes SpaceX well ahead of OpenAI’s recent $500 billion valuation and restores its position as the world’s highest-valued private company.

How SpaceX Plans to Use Future IPO Money

In the memo to investors, Chief Financial Officer Bret Johnsen said SpaceX is planning for an IPO in 2026 to support several large-scale programs already in motion. These include:

• A much higher launch cadence for Starship, the company’s fully reusable heavy-lift rocket

• Storage and computing systems placed in orbit to run AI workloads in space

• Early development tied to a long-term lunar base project

Johnsen described these plans as requiring capital far beyond what the company raises through its twice-annual share tenders.

Record-Breaking Offering Under Consideration

SpaceX is evaluating an offering that would raise well above $30 billion, Bloomberg reported earlier this week. A transaction of that size would surpass every public listing to date.

According to the memo, SpaceX aims for a $1.5 trillion valuation at the time of the offering. If achieved, it would place the company near the level reached by Saudi Aramco during its record 2019 IPO.

The memo noted that both the timing and valuation remain uncertain, and SpaceX could still choose not to proceed depending on market conditions.

SpaceX did not comment publicly on the details.

Why Investor Interest Remains High

SpaceX has built two core businesses that dominate their sectors:

Falcon 9 Launch Program: Falcon 9 conducts more orbital missions than any other rocket, carrying commercial satellites, Starlink payloads, cargo for NASA, and crewed missions. The repeated reuse of Falcon 9 boosters has lowered launch costs and made it the preferred option for companies around the world.

Starlink Internet Service: Starlink’s constellation now includes thousands of satellites and serves millions of customers. The service has become a major revenue driver and has been adopted in residential markets, aviation, maritime operations, and remote regions.

These two businesses provide the cash flow and operational base underpinning SpaceX’s work on Starship, satellite manufacturing, and expanded commercial services.

New Details Shared With Investors

SpaceX’s memo included information that had not been part of its earlier tender updates. The company explained that work tied to Starship, Starlink production, and several long-term infrastructure projects now requires a multi-year financing schedule, which is why shareholders were given a defined IPO year. The update also outlined new internal reporting steps and audit requirements SpaceX has begun preparing for, measures that are necessary before a privately held company can enter public markets. The timeline remains flexible, but the memo shows SpaceX aligning major engineering and financial programs around the same target year.

Also Read: Elon Musk’s SpaceX preparing 2026 IPO that could raise over $25 billion, source says

On Friday, the OCC issued conditional approvals for Ripple and Circle to create new national trust banks. The agency also approved applications from BitGo, Paxos, and Fidelity to convert their existing state trust banks into national ones. These preliminary approvals do not allow the firms to open immediately; each applicant must meet additional requirements before receiving a full charter.

This is the first time multiple digital-asset companies have advanced this far through the federal banking approval process at the same time.

What These Charters Allow — and What They Don’t

A national trust bank charter would let these crypto firms:

• Hold and manage customer assets, including digital tokens

• Process payments and settlements on a nationwide basis

• Operate under a single federal regulator rather than juggling dozens of state rules

But these charters do not authorize the firms to:

• Accept deposits like a traditional bank

• Issue loans

• Offer full retail banking services

The OCC currently supervises 60 national trust banks. Only one crypto firm — Anchorage Digital — holds a full national trust bank charter today.

OCC Comptroller Jonathan Gould said the additions would expand customer options and bring more activity under federal oversight.

Traditional Banks Objected Strongly

Several major banking associations urged the OCC to deny the applications. Their arguments centered on two points:

1. Regulatory burden: Banks say they must meet much tougher requirements to receive national charters, and allowing crypto firms easier access would create an uneven playing field.

2. Risk exposure: Banks warned that digital-asset companies carry higher operational and market risks, which could spill into the broader financial system if not supervised carefully.

Despite these objections, the OCC moved the applications forward, saying the firms must still meet strict standards before receiving full authorization.

Why Crypto Firms Want National Charters

For years, companies like Ripple, Circle, and Paxos have operated under a patchwork of state money-transmitter laws and limited-purpose trust charters. A national trust bank license would give them:

• A single regulatory home

• The ability to serve customers in every state without additional licensing

• Direct supervision by a federal banking regulator

• A clearer path to offering custody and payment services to large institutions

For firms that already work with stablecoins, institutional clients, or cross-border payment networks, a national trust bank charter removes major operational barriers.

Ripple and Circle in particular stand to gain broader access to the U.S. financial system, as both companies run large-scale payment and asset-management businesses tied to digital tokens.

Trump’s Recent Statements on Crypto Rules

The timing of the OCC’s preliminary approvals comes as President Donald Trump has spoken publicly about changing federal rules for digital assets. During recent events, Trump said he wants clearer federal oversight for crypto firms and has highlighted the industry while campaigning.

The OCC’s approvals are not final, but they show that federal regulators are reviewing how crypto companies can operate under national banking laws. The charters will only take effect after each firm meets the remaining requirements set by the agency.

Also Read: Crypto.com Files U.S. OCC Charter to Operate as National Trust Bank

Key Points

Rivian used its first Autonomy & AI Day to give a detailed look at the software and hardware that will guide its next generation of self-driving and in-car technology. The electric-vehicle maker announced a paid upgrade for advanced assisted driving, revealed its first in-house processor, and introduced a new voice assistant built on its own software platform.

The moves come as competition in driver-assistance technology continues to intensify, and as Rivian tries to set itself apart with a system built entirely around its own tools.

Rivian’s stock dropped more than 6% during the day.

Autonomy+ Brings Hands-Free Driving to Second-Gen R1 Models

Rivian’s new Autonomy+ upgrade will offer hands-free driving on supported roads, backed by a new autonomous driving model the company calls its Large Driving Model (LDM).
The company said LDM is trained in a way similar to large language models, but focused entirely on driving behavior instead of text.

Autonomy+ will be available in early 2026 and priced at:

• $2,500 one-time, or

• $49.99 per month

Rivian’s current cars offer adaptive cruise control and lane-keeping, but the new system is designed to handle more complex driving scenarios. The company says this updated platform is the foundation for its long-term goal of reaching Level 4 automation—where a vehicle can drive itself within approved areas.

CEO RJ Scaringe described a future where a Rivian vehicle could be told to drive itself to pick up a child from school, without a driver in the car. The company did not set a date for Level 4 capabilities.

Rivian Builds Its Own 5nm Processor to Power Future Autonomy

Rivian also introduced its first custom processor, following a strategy used by Tesla and other companies building advanced driver-assistance systems.

The Rivian Autonomy Processor (RAP1):

• Uses a 5nm manufacturing process

• Combines processing and memory in one module

• Will run on Rivian’s Autonomy Compute Module 3 (ACM3)

RAP1 is at the center of Rivian’s next hardware platform. Rivian said the system is now undergoing validation and scheduled to appear in its R2 models toward the end of 2026. Early R2 units, expected in the first half of 2026, will use current-generation hardware until ACM3 is ready.

Rivian also confirmed that lidar will be added to upcoming R2 vehicles, giving them a detailed 3D view of the road. This is a key difference from Tesla, which relies entirely on cameras.

Rivian’s New Voice Assistant Arrives in 2026

Alongside its self-driving upgrades, Rivian introduced Rivian Unified Intelligence (RUI)—its new AI platform that will support software tools inside future vehicles.

The first product built on RUI is the Rivian Assistant, a voice-controlled helper that can:

• Answer questions

• Help schedule tasks

• Coordinate with apps such as Google Calendar

• Assist with service and maintenance planning

The assistant will launch in early 2026 on both Gen 1 and Gen 2 R1 vehicles.

Rivian stressed that its platform is model-agnostic, meaning it can work with various large-model systems, including Google’s Gemini or OpenAI’s ChatGPT. Until now, Rivian used Amazon Alexa for simple commands, but RUI allows the company to run a much wider set of features.

Why Rivian Is Building Its Own Systems

Rivian said it is developing its own processors, driving models, and software so its vehicles can rely less on outside suppliers. By controlling more of the technology inside its cars, the company aims to update features more quickly and match competing systems already on the market. Rivian said this approach will guide the next stages of hands-free driving and its long-term work on higher levels of automation.

Also Read: Rivian Introduces Affordable SUVs and Crossovers in EV Market Revamp

Key Points

The Supreme Court is reviewing the legality of former President Donald Trump’s global tariffs, and large U.S. companies are positioning themselves for what could become one of the biggest refund events in recent trade history. Roughly $88 billion in duties collected through October could be returned to importers if the court strikes down the tariffs, based on data from Customs and Border Protection (CBP).

Retailers, manufacturers, and consumer-goods companies have begun filing challenges to preserve their right to reimbursement. Among the most prominent is Costco, which relies heavily on imported merchandise and could receive a substantial payout if the court invalidates the duties.

How the Court Handled a Similar Refund in 1998

In 1998, the Supreme Court struck down a federal harbor maintenance tax that applied to exports. Companies including Chevron argued that the tax violated the Constitution’s ban on export duties. After the ruling, the government had to return roughly $750 million to thousands of businesses.

The process looked like this:

• Exporters filed claims showing the duties they had paid during the previous five years.

• Payments were eventually sent, but the distribution took almost two years to complete.

• In 2000, a second Supreme Court decision widened eligibility, allowing refunds for duties paid back to 1987, when the tax was created.

Trade policy analyst Jacob Jensen noted that the federal government already has the systems needed to issue repayments when required. He said that if the Court overturns the Trump-era tariffs, a refund effort of similar scale would be manageable.

Why Importers Are Filing Claims Now

Under customs rules, CBP finalizes duty assessments about 10 months after goods arrive in the United States. Once that assessment becomes final, companies have six months to challenge the amount. After that point, recovering money becomes far more complicated unless a court forces the government to issue refunds.

The first round of Trump-era tariffs on Chinese goods began in February, followed by broader duties in April. With those timelines, many importers are nearing the end of their challenge window. Companies that do not file before the deadline risk losing their chance to reclaim duties if the tariffs are later ruled unlawful.

Costco has already filed its challenge. Several other firms — including Revlon, EssilorLuxottica (the parent of Ray-Ban), Kawasaki Motors, and BumbleBee Foods — have done the same to preserve their claims.

Tim Meyer, a trade law professor at Duke University, said the growing number of filings shows that companies do not expect the federal government to run a smooth refund process on its own. Businesses are turning to the courts because they want a clear record of their claims before the deadlines pass.

How Much Money Costco Could Get Back

Costco told investors that roughly one-third of its sales come from imported products, meaning the company paid a large share of the Trump-era duties. Because of that, trade analysts expect Costco to be one of the biggest beneficiaries if refunds are issued.

Peter Harrell, a trade specialist at Georgetown Law, estimated that Costco’s refund could reach about $1 billion, depending on how the Supreme Court rules and how the government handles repayment claims.

Trump Reaffirms Support for Tariffs

Trump has continued to defend his tariff approach while the Supreme Court reviews the challenges. Speaking at a White House event on Monday, he said he was waiting for the ruling and hoped the outcome would support his position.

Later the same day, he said he was considering a 5% tariff on Mexico, accusing the country of failing to meet a water agreement. The remarks show that tariffs remain central to his trade stance.

Importers Prepare in Case Refunds Are Approved

Importers nationwide are gathering records and filing claims so they are ready if the Supreme Court rejects the tariffs. Should the duties be struck down, companies will need to follow the refund steps set by CBP, a process that could take considerable time based on earlier cases.

For businesses that rely heavily on imported goods, the sums involved are too large to ignore. By filing now, companies such as Costco are making sure they keep the right to recover the duties they paid if refunds are eventually permitted.

Also Read: Costco Takes U.S. Government to Court Over Trump Tariff Refund Dispute

Key Points

Disney has agreed to invest $1 billion in OpenAI and give the company permission to use a large group of its characters inside Sora, OpenAI’s video-creation tool. The three-year deal allows Sora users to make short videos featuring more than 200 characters from Disney, Marvel, Pixar, and Star Wars.

Disney clarified that the agreement covers only fictional characters. It does not allow Sora to use the faces or voices of real actors.

How Disney Plans to Use OpenAI Inside the Company

Disney will introduce ChatGPT to employees to help with internal tasks and early-stage development work.
The company also plans to show a selection of Sora-made videos on Disney+, which will be the first time Disney hosts fan-made AI videos that legally use its characters.

Disney CEO Robert Iger said the company wants to test new tools while keeping control over how its characters are used.

Why Disney Chose to License Characters Now

Sora has exploded in popularity because it can create convincing short videos from a few words of text. After the release of its newest version, many online videos appeared using copyrighted characters and public figures without permission.

Disney chose to license its characters to OpenAI so the company can control where and how its brands show up in AI videos instead of watching unlicensed clips spread online.

Why Disney Stepped In on Unapproved Sora Videos

After the newer version of Sora became available, users began posting videos online that included copyrighted characters and well-known figures without permission. Some clips used Disney characters, while others showed public figures such as Martin Luther King Jr.

Disney noticed these videos spreading across social platforms and wanted a way to stop its characters from being placed in unapproved content. The new agreement with OpenAI lets Disney set clear rules for which characters Sora can use and under what terms, instead of leaving users to upload clips on their own.

The deal does not settle ongoing copyright disputes around AI, but it does give Disney a workable system for controlling which of its characters show up in Sora-made videos.

Also Read: Disney Restores ABC, ESPN and Other Channels to YouTube TV After Two-Week Dispute

Fed T-Bill Buying Becomes the Key Detail for Traders

Swan Bitcoin’s John Haar said the part of the Fed meeting that caught trading desks by surprise was not the rate cut itself but the announcement that the central bank will buy about $40 billion in Treasury bills over the next month. The Fed has not added to its balance sheet in a meaningful way since quantitative tightening began in 2022, aside from its brief response to the 2023 banking scare.

Because traders expected liquidity to tighten, the decision to restart T-bill purchases stood out, and many read it as a sign that the Fed wants additional short-term funding in the system.

The Rate Cut Was Already Expected

The cut itself was not the problem. Markets had anticipated the move for weeks, so there was no surprise to drive fresh buying.
Data from Myriad, a prediction platform owned by Decrypt’s parent company, showed sentiment turning more cautious:

• Probability of a “Santa rally” fell to 17%.

• Chances of Bitcoin reaching $100,000 instead of dropping to $69,000 fell by 5 percentage points overnight.

Traders were not waiting for the cut — they had already moved on to what comes next.

Fed Projections for 2026 Pulled Confidence Down

The updated Fed dot plot reduced the number of expected rate cuts in 2026. That detail was one of the main drivers behind Bitcoin’s drop.
Fewer expected cuts means traders now assume:

• borrowing costs may stay higher for longer

• the current easing cycle could slow sooner than hoped

Tim Sun of HashKey Group said Bitcoin fell because traders adjusted to these projections immediately, not because of Wednesday’s cut itself.

Political and Fiscal Shifts in 2026 Are Adding Pressure

Sun also noted that 2026 is a key year in U.S. politics. The midterm elections will take place, and a Trump administration would likely aim for:

• increased federal spending

• a softer stance from the Fed

While that combination may support short-term growth, it often pushes prices higher, which in turn forces long-term interest rates up. When long-term rates climb, assets that rely on abundant liquidity — including Bitcoin — tend to weaken.

AI Infrastructure Costs Limit Room for Fed Rate Cuts

Tim Sun said spending on AI infrastructure has risen sharply, with companies allocating more money to data centers, power supply, and specialized hardware. These projects have kept certain input costs firm, slowing the pace at which prices are easing. If these costs stay high, the Fed may have less room to reduce rates, which has direct implications for assets like Bitcoin.

Also Read: Bitcoin Near $94K Before Fed Decision on Rates

Do Kwon, the cryptocurrency developer whose TerraUSD and Luna projects unraveled in 2022 and erased an estimated $40 billion in value, is scheduled to be sentenced on Thursday in federal court in Manhattan. The case marks one of the most prominent prosecutions tied to the digital asset turmoil that swept through the industry two years ago.

Kwon, 34, co-founded Terraform Labs and led the design of TerraUSD, a token promoted as a stablecoin meant to hold a steady value even during market swings. He later acknowledged in court that he misrepresented how the coin maintained its price and admitted to misleading investors about the technology behind it. Prosecutors say those assurances concealed practices that artificially supported TerraUSD’s value during moments of stress.

Sentencing Request and Charges

U.S. District Judge Paul A. Engelmayer will preside over the sentencing hearing, which begins at 11 a.m. in New York. Federal prosecutors argue that Kwon’s conduct fueled one of the largest losses in crypto history and have asked the court to impose a prison term of at least 12 years.

Kwon’s legal team has urged the judge to impose no more than five years, saying he intends to return to South Korea afterward to address pending charges there.

Earlier this year, the U.S. Department of Justice charged Kwon with nine criminal counts, including securities fraud, wire fraud, commodities fraud, and a money-laundering conspiracy. The case centers on statements Kwon made in 2021, when TerraUSD began losing its $1 peg. At the time, Kwon claimed that the blockchain algorithm known as the “Terra Protocol” had stabilized the coin.

What Prosecutors Say Actually Happened

Court filings state that rather than relying solely on the algorithm, Kwon enlisted a high-frequency trading firm to buy large quantities of TerraUSD in secret to push the token back toward $1. That intervention, which prosecutors say effectively masked failing mechanics in the stablecoin’s design, was never disclosed to investors.

In August, Kwon pleaded guilty to conspiracy to defraud and wire fraud, admitting that his public statements about TerraUSD’s recovery were incomplete and misleading.

“I failed to disclose the role of a trading firm in restoring the peg,” Kwon said at the hearing. “My statements were false, and I accept responsibility.”

Civil Penalties and Future Proceedings

Kwon also reached a major civil resolution in 2024 with the U.S. Securities and Exchange Commission. Under the settlement, Kwon and Terraform Labs agreed to pay $4.55 billion, including $80 million personally, and he accepted a prohibition from participating in crypto-related activities.

South Korean authorities have separately charged Kwon in connection with the same events. As part of his plea agreement in the United States, prosecutors said they would not oppose a request for Kwon to transfer abroad after completing half of whatever sentence the judge imposes.

Also Read: 3 Altcoins Near Breakout Levels Before Christmas

Monero (XMR)

Monero is showing one of the stronger formations among major altcoins. XMR trades near $397, maintaining support at $387 while testing an area near $417. The token sits about 18% below its all-time high of $471, leaving room for further movement if buying interest continues.

The Chaikin Money Flow (CMF) has been rising, reflecting increased participation from buyers. If this continues, XMR could advance to $417, then aim for $450—a level that has drawn significant activity in past cycles.
Surpassing $450 would bring the all-time high back into focus.

If XMR falls below $387, attention would shift to $361, indicating a deeper pullback and slowing the pace of any upward move.

Rain (RAIN)

RAIN is trading near $0.0075, leaving it roughly 14% below its all-time high of $0.0086. The Parabolic SAR remains in a position that supports an upward trend, indicating RAIN still has short-term strength.

A move above $0.0079 would be an important signal. Turning that level into support would show buyers are willing to absorb supply and could encourage additional participation. Under those circumstances, RAIN would have a clearer path toward retesting its previous high.

If RAIN falls under $0.0074, the setup weakens. That decline may expose $0.0068, reducing the chances of any attempt at a recovery in the near term.

Undead Games (UDS)

UDS trades around $2.54, positioned just under a resistance area at $2.59. The token is still about 36% below its all-time high of $3.44, giving it space to move upward if buyers regain control.

Signals from the Ichimoku Cloud point to improving conditions for an upward continuation. If UDS breaks above $2.59, the next areas to monitor are $2.73 and then $3.00, which has historically acted as a psychological point for traders.

Movement below $2.48 would shift attention to $2.29. A deeper decline toward $2.12 would limit near-term recovery attempts.

Also Read: 3 Altcoins to Watch This Week: Sonic, THORChain, and Sky Network Prepare for Key Upgrades

Shares of Dropbox slid more than 5% in morning trading following the leadership update.

Tennenbaum, who currently serves as president at Avalara and previously held its CFO role, will formally assume the CFO position at Dropbox on December 16. His arrival comes at a time when the company is directing more resources toward AI features, including Dropbox Dash, a tool designed to connect services such as Google Workspace and Slack to streamline file organization.

Regan joined Dropbox in 2016 as chief accounting officer and played a central role in the company’s 2018 initial public offering. He became CFO in 2020 and will remain with the company as a non-executive employee through March 15, 2026, ensuring a transition period as Tennenbaum steps into the role.

The San Francisco–based company reaffirmed that its fourth-quarter and full-year financial results remain on track with the guidance previously issued. Dropbox expects Q4 revenue between $623 million and $626 million on a constant-currency basis.

The company also lifted the midpoint of its 2025 annual revenue forecast by $18 million, now projecting a midpoint of $2.51 billion, compared with the prior midpoint of $2.49 billion.

Earlier this year, Half Moon Capital, an activist investor, urged Dropbox to eliminate its dual-class share structure, which grants CEO Drew Houston enhanced voting power. A spokesperson for the firm said it intends to continue discussions with Dropbox leadership once the current transitions conclude.

Also Read: Microsoft to Invest $17.5 Billion in India Data Centers

SpaceX has remained privately held since its founding in 2002, shielding its financials and strategy from the quarterly scrutiny faced by publicly traded companies. But industry chatter and recent internal activity suggest that the company may finally be taking early steps toward an initial public offering, potentially in 2026.

Below is a detailed look at what SpaceX does, who owns it, why investors are eager for an IPO, and what’s known about its valuation.

What SpaceX Actually Does

SpaceX was created by Elon Musk with the goal of reducing the cost of launch and enabling long-distance human exploration. The company introduced reusable rockets, a concept long considered impractical in the launch industry, and turned it into a reliable business model.

Key operations today include:

1. Falcon 9 Launch System

• The Falcon 9 has become the world’s most frequently flown rocket.

• It supports commercial clients, national security payloads, weather satellites, scientific missions, and cargo flights to the International Space Station (ISS).

• NASA also relies on SpaceX for its Crew Dragon missions that ferry astronauts to and from the ISS.

2. Starlink Satellite Network

• Starlink is SpaceX’s global broadband service, enabled by a rapidly expanding constellation of low-Earth-orbit satellites.

• The company has deployed about 9,000 satellites — far more than any other operator.

• Millions of customers subscribe to Starlink in remote, rural, maritime, and aviation markets.

3. Government and Defense Contracts

• The U.S. government is one of SpaceX’s largest customers.

• Contracts include classified national security launches and specialized missions for the Department of Defense.

• NASA uses SpaceX for cargo deliveries, astronaut flights, and deep-space mission support.

Where SpaceX Is Based: Starbase, Texas

SpaceX’s main development and flight-test hub is Starbase, located in South Texas near the Gulf Coast and the U.S.–Mexico border.
In May 2025, voters in Cameron County approved a measure allowing Starbase to operate as its own self-governed city — a rare arrangement inside the aerospace industry.

Starship Program at Starbase

• Starbase is home to Starship, the world’s tallest and most powerful launch system at about 400 feet.

• The vehicle is undergoing a series of flight tests; the 11th test, conducted in mid-October, was one of the most successful to date.

• Earlier 2025 tests saw multiple failures, but each provided data that helped SpaceX refine the system.

• NASA’s Artemis program plans to use a modified Starship vehicle to land astronauts on the lunar surface.

Musk has repeatedly said that Starship is central to his long-term ambition of enabling a human mission to Mars.

Is SpaceX Preparing to Go Public?

Investors have chased SpaceX shares through private markets for years, pushing up secondary-market valuations even though the company has never issued stock to the public. That dynamic may begin to change.

What is known about the potential IPO:

• The company has held early exploratory discussions with major banks regarding a public listing, according to people familiar with those talks.

• A possible timeline under consideration is mid to late 2026, though no filing has been made and the company has not formally confirmed plans.

• Internally, SpaceX has a history of avoiding public reporting requirements in order to move quickly on engineering and testing decisions. The fact that the company is evaluating an IPO marks a significant shift.

This would be the first time SpaceX sells newly issued shares directly to the public.

What Is SpaceX Worth Right Now?

SpaceX’s value has risen steadily as Starlink grows and the launch cadence accelerates.

Valuation highlights:

• Private discussions around the potential offering suggest the company may seek to raise over $25 billion when it eventually lists.

• Depending on the structure of the offering, SpaceX’s valuation could approach or exceed $1 trillion, placing it in rare territory among U.S. private firms.

• The company has also explored secondary share sales to give early employees and investors liquidity, though Elon Musk has disputed some valuation figures previously circulated in the media.

Musk has publicly stated that SpaceX is cash-flow positive and performs twice-yearly buybacks of private shares.

Revenue

• Musk estimated that SpaceX’s 2025 revenue will be roughly $15.5 billion.

• About $1.1 billion of that is tied to work NASA contracts.

• A rapidly growing share comes from Starlink subscriptions, which analysts expect to become the company’s largest revenue driver.

There has been a lot of press claiming @SpaceX is raising money at $800B, which is not accurate.

SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors.

Valuation increments are a…

— Elon Musk (@elonmusk) December 6, 2025

Can You Buy SpaceX Stock Today?

Not yet.
Because SpaceX is still a private company, only accredited investors can trade private shares through platforms that handle restricted stocks. These trades do not involve SpaceX issuing new shares; they are sales between existing investors.

Retail investors cannot purchase direct equity until SpaceX completes an IPO.

What About Musk’s Personal Wealth?

Elon Musk’s net worth is heavily tied to Tesla and SpaceX.
Recent shareholder approvals at Tesla allow for future compensation packages worth trillions under specific performance targets, but Musk is not a trillionaire today.

As of 2025, he is estimated to be worth more than $490 billion, making him the world’s richest individual.

Will SpaceX Ever Become Public?

An IPO now appears more realistic than at any time in the company’s history.
SpaceX’s expanding launch business, fast-growing Starlink network, and increasing government contracts have created the type of financial scale that typically precedes a public listing.

While the timeline is not confirmed, 2026 is emerging as the earliest plausible window for a debut on public markets.

Until then, SpaceX remains one of the world’s most valuable private companies—operating at the center of national security, global internet infrastructure, and the next generation of human spaceflight.

Also Read: SpaceX Plans Insider Share Sale at Up to $800 Billion Value

A 25-basis-point cut is anticipated at Wednesday’s conclusion of the Fed’s policy meeting. Futures and prediction markets indicate increased expectations that Jerome Powell’s comments could look ahead to a cautious stance in January, with officials still focused on inflation while employment data softens.

Crypto analysts say the tone of Powell’s remarks may guide the next major move in Bitcoin.

Nic Puckrin, co-founder of Coin Bureau, wrote on Tuesday that a hawkish press conference could weigh on digital assets into year-end. “Despite new buying by Strategy, Bitcoin has not regained upward strength. A finish under $100,000 for 2025 is still possible,” he said.

Puckrin added that political developments in 2026 could revive sentiment. President-elect Donald Trump is expected to nominate a new Fed chair once Powell’s term ends in May. Former White House economic adviser Kevin Hassett has been viewed as a leading candidate and is seen by the industry as favorable toward digital asset growth.

Recent trading ranges show Bitcoin stuck between $81,000 and $94,000 following its sharp drop from October’s record near $126,000.

Compass Point analyst Ed Engel cautioned that a breakout above the current range appears unlikely until buyers return at higher volumes. Engel estimates that investors who entered the market in the past six months have a cost basis near $103,000. With prices below that level, he said traders are more inclined to sell rebounds than accumulate dips.

Bitcoin is currently down about 2% in 2025, setting up its weakest full-year result since 2022, when the market lost more than 60%. The divergence from U.S. equities has widened as the S&P 500 posts a strong annual gain.

Also Read: Fed Meeting Live Updates: Expected Third Rate Cut and New 2026 Forecasts

Thank you, PM @narendramodi ji, for an inspiring conversation on India’s AI opportunity. To support the country’s ambitions, Microsoft is committing US$17.5B—our largest investment ever in Asia—to help build the infrastructure, skills, and sovereign capabilities needed for… pic.twitter.com/NdFEpWzoyZ

— Satya Nadella (@satyanadella) December 9, 2025

India is seeing rapid demand for locally hosted computing systems as companies shift software and storage to cloud services and follow domestic data rules. The new spending will support:

• Construction of additional data centers for Azure and enterprise clients

• Upgrades to networks and on-premise hardware linked to Microsoft services

• Facilities built to match India’s data security and compliance requirements

Microsoft has not published the rollout timeline or listed which regions will receive the new build-outs. Analysts expect the projects to involve Indian contractors and technology providers once work begins.

The company has been active in India for over 30 years. This planned investment is one of its largest financial allocations in the country and signals a long-term expansion of core operations rather than short-term upgrades.

Also Read: Microsoft Exits Pakistan After 25 Years of Operations - Key Reasons Behind the Exit

Futures data from CME Group currently imply about a 90% chance that the Fed will cut its benchmark rate by 0.25 percentage points at this meeting. If that happens, it would be the third rate cut this year.

Along with the decision, the Fed will release its latest Summary of Economic Projections (SEP). This report includes policymakers’ forecasts for economic growth, inflation, and the expected path of interest rates over the next several years.

Back in September, the SEP showed a median projection of three rate cuts in 2025 and only one cut in 2026. Any changes to that 2026 path will be a key focus for markets on Wednesday.

Also Read: Fed to Decide Interest Rates This Week With S&P 500 Close to Its Peak

The vote details will also matter. At the October meeting, two FOMC members dissented, opposing the quarter-point cut. Today’s vote will show whether those divisions are widening or narrowing.

This live blog will be updated throughout the meeting with:

• The Fed’s statement and projections

• Powell’s remarks and Q&A highlights

• Market reaction in stocks, bonds, and the dollar

Stay tuned for real-time updates as the Fed releases new information.

The company will join the benchmark on December 22, becoming part of the consumer discretionary grouping. Its inclusion reflects a sustained improvement in profitability and market value following a period when Carvana’s survival was openly questioned by lenders and investors.

In late 2022, the business was navigating liquidity concerns amid softening vehicle demand and a sharply higher cost of capital. Carvana’s shares briefly traded below $4, and a large proportion of its stock had been sold short as doubts mounted over its ability to refinance debt.

Since then, the retailer has cut operating expenses, renegotiated portions of its borrowings and redirected investments toward areas that more directly support its online-first model. These measures have helped lift profit per vehicle sold and allowed the company to generate positive earnings on an annual basis for the first time.

Carvana reported record revenue and record units sold in the third quarter. The company has maintained target ambitions of reaching annual sales of roughly 3mn vehicles over the next decade, implying a continuation of market share gains against traditional used-car chains.

Analysts at Bank of America, who raised their price target on Monday, said the company now meets index admission requirements relating to profit and liquidity. They highlighted continued gains against CarMax — the largest U.S. competitor — particularly in attracting customers willing to purchase and sell vehicles entirely through digital channels.

More than 30 per cent of Carvana buyers now complete purchases without direct staff interaction until the vehicle is collected or delivered, according to recent disclosures. Over 60 per cent of sellers use a similar online-only process.

Entry into the S&P 500 is likely to broaden the group of institutional owners. Index-tracking funds are required to purchase the stock, and Carvana’s presence in passive investment products can improve share turnover and reduce reliance on short-term speculative trading.

The move also places the business under closer attention from fund managers who evaluate corporate governance, leverage and consistency of profitability more intensely once companies enter major benchmarks. Carvana ended last year with its first consolidated annual profit, but remains exposed to financing conditions and fluctuations in used-car affordability.

Analyst coverage has shifted markedly over the past two years. Eighteen firms now recommend buying the stock, compared with only a small number of bullish views during its downturn. Six firms advise holding the shares, and two continue to recommend selling.

Carvana’s chief executive, Ernie Garcia, has acknowledged the difficult period that preceded the recovery, characterising the past two years as a test of resilience for the business. The index addition underscores the scale of the rebound — though sustaining it will require continued financial discipline as growth ambitions expand.

Also Read: Dollar Tree and Dollar General Stocks Beat Nvidia This Year

XRP has been in the spotlight since a federal court ruled in July 2023 that secondary market sales of the token are not securities. That decision cleared the path for companies to seek product approvals tied to the asset. The first ETF launched on Oct. 29, followed by several competitors over the next month. Canary’s ETF has become the largest so far, reporting over $350 million in holdings within a short period. More issuers have funds pending with regulators.

With a market value around $130 billion at current prices, XRP ranks among the largest digital assets. The portion now inside ETFs is small relative to supply, so the shift has not changed market pricing in a noticeable way. What has changed is who controls a growing share of XRP. Rather than moving in and out of trading venues at high frequency, the coins backing ETF shares are stored in institutional custody accounts until clients sell those shares.

That storage approach reduces the amount of XRP that is available for short-term speculation. How meaningful that becomes depends on whether the funds continue to grow. If they do, ETFs will hold a larger share of the asset outside day-to-day trading, while at the same time opening the door to investors who previously stayed away from crypto custody risk.

XRP is used in some cross-border transaction solutions promoted by Ripple, and software developers have continued to introduce new applications for the XRP Ledger, including tokenized financial assets. Wider availability of regulated investment vehicles could eventually connect these two sides — usage in financial infrastructure and ownership through traditional markets — but for now the change is primarily about access.

The early response suggests there was pent-up interest from investors waiting for a regulated path to participate. That demand reduces reliance on crypto exchanges and marks a shift toward the types of investment structures already common in other asset classes.

Also Read: Bitcoin, Ethereum & XRP Gain After Major Short Liquidations

What the Fed Will Decide This Week

The Federal Reserve meets this week to set interest rates for the final time this year. Many economists expect a small cut because recent data shows slower hiring and lower inflation. Lower rates make loans cheaper for families and businesses.

The key moment comes on Wednesday, when Fed Chair Jerome Powell will explain the decision and what it means going forward. Investors want to know if this is the beginning of a series of cuts or just a one-time move.

The Fed will also release new projections that show how officials see the economy performing next year — including jobs, growth, and inflation. This meeting is significant because the group of policymakers who vote on interest rates will change in the new year, which could affect future decisions.

Stocks Hold Firm While Bonds Price in More Risk

Equities have stayed near record territory, but the bond market is signaling tighter conditions ahead. The yield on the 10-year Treasury climbed again on Friday, capping a week of sharp swings. Higher yields reflect concern that inflation may not slow quickly enough to justify aggressive rate cuts next year.

That matters for companies and households. Longer-term rates influence borrowing costs for mortgages, business credit, and capital spending — areas that are still running above pre-pandemic levels. Even a small rise in yields can limit the boost that lower short-term policy rates would normally provide.

The split leaves investors weighing two scenarios: a mild economic slowdown that allows the Fed to ease gradually, or a downturn that forces more urgent action later. Powell’s comments this week may help decide which side gains the upper hand.

A Year-End Rally Awaits Direction From the Fed

Stocks have climbed in recent weeks on the expectation that interest rates are set to move lower. What markets still lack is clarity on why the Fed is ready to cut. If policymakers argue that inflation progress has improved enough to justify cheaper borrowing, equity gains may hold. But if Powell indicates the Fed is reacting to slower hiring and weaker demand, it would shift the focus to growth risks heading into next year.

The message delivered on Wednesday will help determine whether the rally extends through December or fades as investors reassess the outlook.

Bitcoin No Longer Moving With the Market

Bitcoin is not tracking the stock market the way it has in recent years. Major U.S. stock indexes have risen this year, but bitcoin is still trading below its level at the start of the year. The two have often moved in the same direction when investors take on more risk. Now, cryptocurrency trading is reacting to different forces, including regulatory uncertainty and reduced participation from large investors. As a result, bitcoin has not followed the gains in equities and remains on its own path.

Schedule of Economic Data and Earnings

A number of government reports and company results are due this week that provide updated information on jobs, business activity, and consumer spending.

Tuesday

• JOLTS job openings (Sept & Oct): Read on labor demand after recent layoff increases
• Small business sentiment: View into hiring and pricing plans among smaller employers
• Earnings — AutoZone, GameStop, Campbell Soup: Indicators of household spending priorities

Wednesday

• Fed rate decision + Powell briefing: Sets the direction for borrowing costs entering 2026
• Employment cost figures / mortgage demand: How pay and housing activity are responding
• Earnings — Oracle, Adobe: Outlook on corporate tech budgets and cloud spending

Thursday

• Weekly unemployment claims: First signal of any pickup in job loss
• Wholesale trade data: Insight into retail restocking and demand
• Earnings — Broadcom, Costco, Lululemon: Data points on enterprise chips, consumer staples, and discretionary spending

Friday

• No major economic releases
• Earnings — Rent the Runway: Apparel demand among younger consumers

What the Fed Will Explain on Wednesday

The Federal Reserve will outline its latest interest rate decision this week and give an update on how it views the job market, inflation, and borrowing conditions. Powell’s comments will show whether the recent slowdown in hiring and cooling prices are enough for the central bank to begin easing policy, or whether more evidence is needed.

Also Read: Trump Says Tariffs Could Fund $2,000 Payments and Cut U.S. Debt, but Revenue Falls Short

Dollar Tree and Dollar General, both built around low-price shopping essentials, have seen their stock prices surge roughly 55% and 65% this year. Nvidia, one of the market’s top tech gainers, is up about 35% by comparison.

The latest earnings reports from the two discounters reveal why: more Americans are turning toward cheaper stores as everyday expenses stay high.

Dollar General reported a 2.5% increase in same-store sales for the third quarter. Dollar Tree posted a 4.2% rise. Meanwhile, several mainstream retailers are struggling — Target most recently reported a 3.8% decline in same-store sales.

Dollar Tree also added 3 million new customers, lifting its total shopper count to around 100 million. The majority of these new visitors come from households earning above $100,000 a year — a major shift for a chain historically driven by lower-income traffic.

Company leaders say the pattern is unmistakable:

• Higher-income families are trading down to stretch their budgets
• Lower-income families are relying on discount stores at record levels
• Spending by lower-income customers is rising faster than higher-income groups

Dollar General sees similar behavior. More shoppers are walking through the doors, but they are buying fewer items per trip — a classic sign of budget strain.

These trends aren’t likely to reverse anytime soon. Food, rent, healthcare, and basic necessities continue to cost more, even as the top of the economy looks strong on paper. Stock portfolios and home prices may be lifting wealthier households, but confidence among most consumers remains weak.

Discount chains have become a clear indicator of the pressure many Americans feel. Their stock momentum reflects that reality — and suggests this shift in spending is far from temporary.

Also Read: Sandisk Added to S&P 500 After Valuation Reaches $31 Billion

Warner Bros. remains one of the most active producers in U.S. entertainment. Its film divisions support large crews, and HBO develops many writer-led dramas. Because of that role, unions are asking regulators to carefully review how the sale might affect jobs and production levels.

The Writers Guild of America said the merger could leave fewer buyers for scripts and fewer television series going into production each year. The union argued that the deal would likely reduce employment across writing, acting, and production departments. Other labor groups raised similar concerns and asked the government to examine effects on working conditions.

Netflix was not the only company seeking a purchase. Paramount and Comcast also made offers. Paramount wanted the entire business, including linear television networks, but Warner Bros. selected Netflix’s proposal instead. Paramount disputed the fairness of the process before being removed from further negotiations.

If regulators approve the deal, Netflix would gain control of major franchises, a large content library, and a steady pipeline of projects already underway at Warner Bros. It would also gain revenue from licensing shows to other networks, something Netflix has not traditionally done.

Government officials are reviewing how the acquisition might affect subscription pricing and access to programming. Senator Elizabeth Warren said the combination could give Netflix too much influence over the streaming market. The review will also consider whether media consolidation leaves workers and independent producers with fewer options.

If the U.S. blocks the deal, Netflix must pay Warner Bros. a termination fee of $5.8 billion under the current contract terms.

One point of close attention in Hollywood is film distribution. Warner Bros. has seen strong ticket sales this year from major theatrical releases. Netflix’s releases generally spend only a short period in theaters before being available online. Filmmakers and theaters want clear decisions on how films funded under Warner Bros. budgets will reach audiences.

On a call with investors, Netflix executives said shows currently in development for other networks will continue moving forward. They said the company plans to keep HBO operating with its existing focus on premium scripted programming. They did not outline changes to film release windows but said those decisions will be made after regulators complete their review.

People who work with Warner Bros. say they will continue production schedules already approved, but several producers noted they need timely direction from Netflix, especially for projects that take multiple years to complete.

Many in the industry see this acquisition as part of a broader reduction in the number of major studios ordering scripted films and television. Decisions about the sale will affect not only studio executives but also thousands of workers who depend on a steady flow of productions to stay employed.

Also Read: Netflix to Acquire Warner Bros. in $82.7B Deal After WBD Split

Retailers seek to protect refund eligibility before ruling

Costco has filed a lawsuit to ensure it receives a full refund if the Court decides the tariffs were imposed without proper authorization. Court filings show similar lawsuits from Bumble Bee Foods, EssilorLuxottica, Kawasaki Motors, Revlon, and Yokohama Tire, reflecting a broad mix of industries: food, eyewear, machinery, cosmetics, and automotive parts.

The Justice Department has stated that businesses would likely be owed refunds if the tariffs are ruled unlawful. Treasury officials have said a repayment could involve about half of the total tariffs collected under the disputed program — representing billions of dollars.

Companies are filing lawsuits now because they do not know whether refunds will apply only to firms that have challenged the tariffs in court. Importers say they are acting early to protect their claims before the Supreme Court issues a decision.

Sharp tariff swings created immediate operational strain

Los Angeles-based Greenbar Distillery imports key ingredients that cannot be sourced in the U.S., including juniper berries and several spices. In 2025, its tariff rates shifted repeatedly:

Co-founder Melkon Khosrovian expects tariff costs this year to reach $75,000–$125,000, compared with $25,000–$50,000 in earlier years. The unpredictable increases forced the company to import automated bottling equipment and begin preparing for staff cuts among its 15 employees to avoid pushing prices beyond what customers will accept.

“We reviewed every expense. The tariffs still changed the numbers too quickly,” Khosrovian said.

Higher import bills erased profits for mid-sized manufacturers

In North Carolina, Thompson Traders makes handcrafted kitchen fixtures and cannot shift production to the U.S. without losing the craftsmanship customers expect. President Clifford Thompson said this year’s tariff obligations will exceed $1 million, enough to eliminate the company’s expected profit.

The firm has taken on short-term debt and made measured price increases as a result.

“We can manage this because we’ve been in business for decades,” Thompson said. “Startups and newer producers do not have that margin for error.”

Businesses brace for prolonged policy shifts

Both companies are members of We Pay the Tariffs, a coalition that represents import-dependent industries, including consumer goods, electronics, and specialty manufacturing. The coalition has asked the Supreme Court to uphold lower-court opinions that raised legal concerns about how the tariffs were enacted.

Even if refunds are granted, executives say the money will be handled cautiously. Hiring or expansion decisions would depend on whether tariff policy becomes more predictable. Industry advisers note that other trade statutes could be used to reinstate similar duties.

“Companies are planning as if tariffs will remain part of the operating environment,” said strategist Drew DeLong.

Price changes depend on each firm’s cost exposure

Tariff-related costs have been absorbed in different ways:

• Some firms raised prices and would need time to re-adjust contracts

• Others borrowed to protect prices and may prioritize debt reduction first

• Companies tied to specialized international suppliers face limited alternatives

As a result, consumer prices are unlikely to shift uniformly even if the Court rules against the tariffs.

Retailers say a ruling that clarifies the rules and refund process would allow them to make long-term decisions instead of reacting to sudden cost changes.

Also Read: Costco Takes U.S. Government to Court Over Trump Tariff Refund Dispute

SpaceX is preparing an insider share sale that would place the company’s value between $750 billion and $800 billion, according to people familiar with the talks. The plan was reviewed by the board this week at Starbase in Texas.

The share price under consideration is above $400. The level may change based on interest from employees selling stock and investors buying it. In July, SpaceX priced shares at $212, giving the company a $400 billion valuation.

SpaceX did not respond to a request for comment. If completed, the new valuation would exceed the $500 billion figure previously linked to OpenAI.

Shares of EchoStar Corp. rose after the news. The satellite and wireless company has agreed to sell spectrum licenses to SpaceX in deals worth $2.6 billion and $17 billion.

SpaceX is the leading commercial launch provider through its Falcon 9 rockets. It also operates Starlink, a low-Earth-orbit network with more than 9,000 satellites, ahead of Amazon’s Kuiper project.

Raising funds at valuations above $100 billion while staying private is uncommon. A future listing at $800 billion would place SpaceX among the largest publicly traded companies worldwide, near Musk’s Tesla.

Selling 5% of SpaceX at that value would require a stock sale of $40 billion, larger than Saudi Aramco’s record IPO in 2019.

Public investors have delivered mixed outcomes for space companies this year. Karman Holdings has gained since its debut, while Firefly Aerospace and Voyager Technologies have fallen.

Executives have discussed the idea of a separate Starlink listing since 2020. Timelines have shifted, and the company has said such a move would come later, not immediately.

The Information reported that SpaceX has told investors it is aiming for a public offering of the entire company in the second half of next year.

A secondary sale would offer liquidity to early shareholders while SpaceX continues development of Starship, its heavy-lift vehicle designed to transport large payloads and future crews.

Also Read: SpaceX Asks Trump Administration for Tariff Exemptions on Chinese Equipment

Holdings in silver-backed ETFs have climbed sharply this week, with additions over the past four sessions already exceeding any full week since July. The buying has pushed prices higher even as momentum gauges show stretched conditions. The 14-day relative strength index has stayed close to 70 throughout the week, a level traders use to track overheated markets.

The price of silver has doubled this year, supported first by a physical squeeze in London and now by tightening availability elsewhere. Stocks held in China have dropped to their lowest level in about ten years, adding pressure to secure supply.

“Silver is no longer trading in gold’s shadow,” said Hebe Chen, analyst at Vantage Markets in Melbourne. “Industrial demand is expanding at a pace the supply side is struggling to match.”

Expectations of a Federal Reserve rate cut next week have also kept buyers active. Lower policy rates reduce the opportunity cost of holding metals that do not generate yield. Market pricing remained steady after U.S. jobless-claims data showed filings falling to a three-year low.

Analysts at Citigroup, including Max Layton, see scope for prices to reach $62 per ounce within three months, citing investment flows and a physical shortfall.

Silver plays a key role in electronics, solar equipment and medical applications. Global use has exceeded mine output for five straight years, driving competition for available material.

By late trading in New York, silver was holding above $59, up more than 4.5% this week after last week’s 13% jump. Gold, platinum and palladium also gained. The Bloomberg Dollar Spot Index slipped marginally.

Also Read: Silver Price Reaches New Record Above October Peak

Researchers examined the 1,000 largest U.S. 401(k) plans from 2009 to 2013, a period when federal rules required detailed disclosure of how record-keepers — the companies that operate the plans — are paid. The study found that more than half of these plans included investment funds that direct a portion of their fees back to the record-keeper. These “revenue-sharing” structures increase fund expenses for workers without producing consistently stronger performance.

The influence behind fund selection

The plans studied offered workers an average of 22 different investment options from around seven firms. However, researchers found a clear pattern: plans were more likely to add funds that sent payments to the record-keeper, and less likely to remove them once they were added.

Although these funds cost more to own, the study found no evidence that they delivered better returns than similar, lower-cost alternatives.

Clemens Sialm, a finance professor at the University of Texas at Austin and co-author of the study, said this dynamic may go unnoticed by many savers.

“Employees often assume their plan menu has been built to prioritize performance and cost efficiency,” Sialm said. “But there can be incentives in place that favor funds with higher internal fees.”

Smaller balances over time

Fee differences that may appear insignificant early in a career become more significant after decades of compounding. Even an additional 0.30% in annual costs can reduce the value of a typical retirement account by tens of thousands of dollars by the time withdrawals begin.

Because the added charges are built directly into fund expenses, they do not appear as separate deductions on participant statements. That structure makes it difficult for workers to understand how much they are paying or why certain funds cost more than others.

A transparency gap

The researchers focused on 2009–13 filings because they offered unusually clear data on how plan providers were compensated. Regulatory changes since then have reduced the amount of fee-sharing information available to the public.

As a result, the issue remains in the retirement system, but it has become harder for employers and participants to identify when investment menus prioritize administrative incentives over cost-effective fund performance.

Discussion of potential improvements

The study highlighted several actions that could better align plans with savers’ interests:

• Employers could pay administrative costs directly rather than through fund expenses

• Workers could receive clearer explanations of how each fund charges fees

• Investment menus could be reviewed regularly to remove funds that charge more without producing stronger results

Sialm said that workers typically rely on their employers to manage retirement plan quality, making transparency especially important.

Also Read: Should Parents Open a Trump Account for Their Child? Who Qualifies and What Families Need to Know

Under the terms released by the companies, Netflix will purchase Warner Bros. for $27.75 per share, giving the equity portion of the transaction a value of $72 billion.

The closing timeline depends on Warner Bros. Discovery’s plan to separate into two publicly traded companies — one focused on cable networks and the other on film and television production. That division is now expected to be completed in the third quarter of 2026.

Once the separation takes effect, Netflix would assume ownership of Warner Bros., HBO’s programming arm, and the Max streaming service.

What Netflix gains under the agreement

Netflix will take ownership of Warner Bros.’ studio operations, including:

• Ongoing film production

• Television production units

• The Max streaming platform

• Rights to distribute Warner Bros. and HBO programming

The company confirmed that existing theatrical release commitments for Warner Bros. films will remain in place during the review and transition period.

The acquisition also places management of content scheduling and distribution for Warner Bros. and HBO under Netflix’s control once the deal is completed and approvals are secured.

Warner Bros. Discovery’s corporate separation

Warner Bros. Discovery announced earlier this year that it will divide into two publicly traded companies. One will include CNN, TNT Sports, and other cable networks under the Discovery Global name. The other will house Warner Bros. studio operations, HBO programming, and the Max streaming service.

The company stated that the split is planned for the third quarter of 2026. Netflix’s acquisition of the studio and streaming assets is contingent on that structure being completed.

Regulatory Process

The companies stated that the acquisition will be subject to a government review once Warner Bros. Discovery completes its corporate separation in 2026. Netflix expects that process to determine when the transaction can officially close.

During this period, Warner Bros. and HBO will continue to operate as they do today. No integration steps will take place until approvals are granted.

Key review elements included in the timeline:

• Approval must be granted before Netflix assumes ownership

• The review is factored into the 12–18 month closing window

• Warner Bros. remains under current leadership during evaluation

• Distribution and production plans stay unchanged throughout the review

• Both companies continue operating independently until a decision is made

The companies did not provide a specific completion date, noting that the review outcome will set the final schedule.

Stock Performance After the Announcement

Warner Bros. Discovery’s stock has posted sharp gains in recent months, reflecting growing expectations that the studio business would draw bidders. The confirmation of Netflix’s agreement kept the stock stable on Friday, with investors already pricing in a potential transaction.

Netflix shares moved lower following the news, trading down 2.8% to $100.50 in early U.S. activity. The decline came as the company outlined a closing schedule tied to Warner Bros. Discovery’s planned 2026 separation.

Trading remained orderly for both companies as the market absorbed the deal terms and estimated timeline.

What Still Needs to Happen Before Closing

Also Read: Investing in Netflix Stock in 2025 Could Make You a Millionaire

Congress approved the program as part of a broader strategy to increase long-term household savings and encourage families to invest early in U.S. financial markets.

Who qualifies for the $1,000

A child is eligible for the government-funded $1,000 if:

• The child is a U.S. citizen

• The child is born from January 1, 2025 to December 31, 2028

Families can also open accounts for children who were born before 2025 or after 2028, as long as they are under 18 — but those accounts do not receive the federal starter deposit.

There is no income limit. Families at any earning level may open one account per child.

When accounts can be created

• Account creation opens early 2026

• Families may start adding their own contributions July 4, 2026

• Treasury will send activation instructions for government-funded accounts May 2026

Parents or legal guardians control the account until the child reaches age 18.

Contribution limits

• Up to $5,000 per year per child

• Employers may add up to $2,500 tax-free, included in the $5,000 total

• Donations from governments and nonprofits do not count toward the limit

The cap will adjust annually beginning in 2028 to reflect inflation.

How the money is invested

Funds must be placed in Treasury-approved investment products, including:

• Broad-market U.S. equity index mutual funds

• U.S. equities-focused exchange-traded funds

Annual fees are capped at 0.1%, below typical retail investment charges.

The structure is designed to:

• Keep costs low
• Maintain market exposure
• Reduce high-risk investment choices for minors

Withdrawal rules

Funds are locked until age 18, except for:

• Full transfer to another Trump Account

• Approved transfer to an ABLE account at age 17

• If the child dies

After 18, the account adopts standard IRA withdrawal rules, meaning early withdrawals can trigger taxes depending on the purpose.

Where Trump Accounts offer value

• The federal $1,000 is guaranteed if eligibility rules are met
• Low fees help long-term returns
• Automatic market exposure encourages investing from birth
• Can later support multiple adult needs: housing, retirement, business capital

Where the program falls short

• Less tax benefit than 529 plans
• Contribution limits may be restrictive for higher-saving families
• No access if money is needed for major expenses before adulthood

The financial bottom line for parents

This program works best for a specific group:

Families who want to accept the $1,000 and then save modestly over time without needing the funds early.

Parents who plan to save aggressively for education or want full spending flexibility may prefer:

• A 529 plan for tuition goals

• A custodial brokerage if money may be needed sooner

• A Roth IRA once a child has income from work

Some Rules Are Still Unclear

Although Trump Accounts are set to open in 2026, several operational rules are not yet published. Financial institutions that plan to offer the accounts say they are still waiting on instructions from the Treasury Department regarding eligibility verification, fee monitoring, and how custodians should report contributions over an 18-year span.

States are reviewing how the federal program will interact with existing college savings incentives, particularly in places where 529 tax benefits are linked to local investment plans. State treasurers have asked for coordination to avoid conflicting requirements once enrollment begins.

Record-keeping is another unresolved aspect. Once beneficiaries turn 18, the federal rules shift to standard retirement-style taxation, meaning income reporting will depend on accurate files kept since the child’s birth. Providers say implementation decisions made next year will determine how straightforward that transition will be.

Families with children born in 2025 will be among the first to see how these rules take shape when applications open. The Treasury’s remaining guidance is expected to define how easy — or complicated — participation becomes.

Also Read: Senate to Review New Laws to Protect Kids and Teens Online

Trump told officials that tariff collections will grow as more imports are subject to higher fees, describing federal debt as small compared with the revenue he expects. He also repeated his ongoing statement that income tax could eventually be removed entirely.

Customs revenue data shows tariffs are generating more money than during any previous administration. The U.S. collected $31.4 billion in October alone — the highest monthly figure ever recorded. Total collections this fiscal year reached $195.9 billion by August and are expected to pass $300 billion within the year.

Even with those gains, tariffs represent only a fraction of federal finances. The national debt sits above $35 trillion and continues to rise because of entitlement costs, defense spending, and other mandatory obligations. The government paid $1.22 trillion in interest on the debt last year. Interest alone is more than three times higher than tariff income.

Interest costs are also growing rapidly. In the first months of fiscal 2026, the Treasury has already paid more than $100 billion in interest as higher rates remain in effect.

Economists and fiscal analysts say the gap between federal spending and tariff revenue is too wide for the policy to support both a debt reduction plan and direct payments to citizens.

Revenue Projections Have Been Reduced

The Congressional Budget Office recently reviewed projected tariff revenue and lowered its long-term estimate. The agency now expects tariff policies to lower deficits by about $3 trillion over the next decade. Earlier projections had suggested a reduction of $4 trillion.

The change followed updated import data and modified tariff rules. According to the CBO, increased duties on select products were outweighed by lower charges across many others.

Cost of a Dividend Program

Trump has mentioned a public dividend multiple times when speaking about tariffs. He said the amount would be at least $2,000 per person each year. A population-wide program of that size would cost the federal government about $600 billion annually. That figure does not include administrative costs or eligibility limits.

Treasury Secretary Scott Bessent has said legislation would be required before any payments could begin. He has also linked the benefit to tax changes already proposed by the administration — including removing taxes on overtime pay, tips and Social Security income.

Nonpartisan budget analysts estimate that a yearly dividend of $2,000 could expand federal deficits by about $6 trillion over 10 years if paid directly from the Treasury.

Current Use of Tariff Revenue

Tariff payments are collected by U.S. Customs when imported goods enter the country and are deposited into the U.S. Treasury. These funds are applied to existing federal obligations already approved in the budget.

According to current Treasury accounting rules, tariff revenue contributes to:

• Total federal receipts recorded in the general fund
• Ongoing spending authorized in the current budget cycle
• Repayment of Treasury borrowing obligations as they come due
• Refund payments when tariff charges are legally contested and reversed

Any program that distributes tariff revenue directly to citizens would require Congress to pass a law that assigns those funds to a new budget category.

Tariff Collections and Pricing

Tariffs are paid to U.S. Customs by importers when goods enter the country. Treasury records list these payments as federal revenue. Financial reports from retailers and manufacturers show higher import costs for products affected by tariff rates, and pricing changes have appeared in items with high dependence on foreign supply. These changes are documented in recent trade and retail data.

Budget Requirements Still Not Defined

The administration has not released a plan showing how tariff income would be routed through the federal budget. Any public payment program would require specific authorization from Congress, including the funding source and distribution method. The Treasury has not issued guidance explaining how tariff collections could be applied to both debt obligations and direct payments at the same time.

Also Read: Trump’s $2,000 ‘Dividend’ May Arrive Through Tax Relief, Says Treasury Chief Bessent

Garlinghouse said broader adoption, long-term investment strategies and continued demand for Bitcoin as an asset are key factors in his estimate.

Liu said a price above $100,000 is reasonable within the same period if current participation continues. She noted that Bitcoin markets now react faster to new investment flows than they did in previous years.

Teng did not give a price estimate. He said he focuses on business expansion and regulatory progress instead of short-term market reactions. According to Teng, more regulated institutions entering the sector has changed how Bitcoin responds to changes in global financial policy.

Bitcoin was trading around $93,000 at the time of the event, after recording an all-time high above $126,000 two months ago.

Panel members listed developments that could affect Bitcoin pricing through 2026:

• Growth in trading volumes through exchange-traded products
• Increased participation from large asset managers
• Mining changes following the most recent halving
• Lower borrowing costs if central banks continue rate cuts

Garlinghouse said digital assets with clear legal recognition will draw more investment from traditional firms. Liu added that improvements in network performance and new applications across major blockchains will continue to influence investor decisions.

All three speakers agreed that Bitcoin’s established infrastructure and liquidity keep it in a leading role in the digital asset market.

Also Read: Bitcoin, Ethereum & XRP Gain After Major Short Liquidations

Russian President Vladimir Putin will travel to India this week for a summit that aims to strengthen cooperation in energy, defense and trade. The visit places India’s strategic partnerships in sharp focus as its government maintains strong ties with both Russia and the United States during the ongoing conflict in Ukraine.

Putin is expected to arrive Thursday for a state visit. His meeting with Prime Minister Narendra Modi will take place Friday, where the leaders will assess bilateral progress and finalize commercial and government-level agreements, officials from both nations confirmed.

India continues to purchase discounted Russian crude, despite U.S. pressure to reduce energy links with Moscow. The United States has argued that these purchases help sustain Russia’s wartime revenues. Washington recently increased tariffs on Indian imports to 50%, adding fresh strain in the relationship.

New Delhi maintains that Russian oil remains essential to meet demand from a population of 1.4 billion and to manage fuel prices at home.

The two leaders last held an extended summit in 2021. Modi visited Moscow in 2024, and they met briefly in September at a regional forum in China.

India’s Approach to the Ukraine Issue

India has not condemned Moscow in public statements since the start of the conflict. Instead, New Delhi has repeated that it supports a negotiated outcome based on diplomacy. During this week’s meeting, Modi is expected to present that position again directly to Putin, as India continues engagement with both Russia and Western governments on the matter.

Trade and Industry Talks

India will seek additional market access in Russia for pharmaceutical products, agricultural goods and textiles. Indian officials said the government wants non-tariff barriers removed so exporters can expand shipments already in place.

Talks will also cover fertilizer supply arrangements that India considers necessary for farm production. New Delhi continues to push for long-term pricing and secured delivery commitments from Russian suppliers.

Both governments are also discussing a system that would allow qualified Indian workers to take up jobs in Russian industries under regulated terms. Indian officials said Moscow has identified sectors where it needs skilled labor, and New Delhi wants clear guidelines before any placements begin.

Russian Oil Supplies and Energy Projects

The United States continues to press India to scale down Russian oil purchases. New U.S. sanctions on Rosneft and Lukoil complicate procurement channels, though India intends to keep buying from suppliers that are not sanctioned.

Officials in New Delhi say India will not commit to reducing energy flows that support its economic needs, while also respecting international rules.

Energy cooperation will remain central in the discussions — including India’s investments in Russia’s Far East and progress on the Kudankulam nuclear power plant in Tamil Nadu. Expansion of local production for reactor components and joint work in third countries are also expected to be reviewed.

Defense Deliveries and Equipment Talks

India will ask Russia to speed up delivery of the remaining two S-400 air defense units. Three units have been delivered since the 2018 contract worth about $5.4 billion, but the schedule slowed due to supply issues linked to the Ukraine conflict.

Discussions will also cover upgrades for India’s Su-30MKI fighter fleet and faster delivery of spare parts. Indian officials have said these items are needed to maintain operational readiness.

Russia has proposed additional defense platforms, including the Su-57 fighter jet. India has not committed to any new purchases and continues to compare offers from multiple countries.

Despite procurement changes in recent years, Russia still supplies the largest share of India’s military equipment and remains an important source of air defense and aviation systems.

Also Read: Trump Plans Heavy Sanctions on Russian Oil if NATO Agrees

Bitcoin has climbed back above $90,000 for the first time in more than a week after strong buying activity returned to the market. BTC was recently priced at $90,339, showing a 6.7% gain within 24 hours based on pricing from major exchanges.

Short sellers were heavily impacted by the price move. Data from derivatives platforms shows that more than $157 million in Bitcoin short contracts were liquidated over the past day, while total liquidations across crypto assets passed $312 million. Forced closures of short positions increased buying demand, adding to the upward price move.

Trading activity across crypto has picked up sharply. Daily volume has now surpassed $92 billion after earlier declines this week, indicating higher participation from market traders.

Ethereum has also risen. Ahead of the upcoming Fusaka network upgrade, ETH increased nearly 10% and briefly moved above $3,000. XRP gained more than 7% and last traded near $2.14.

Market participants are tracking U.S. monetary policy developments. The Federal Open Market Committee will hold its final meeting of the year on December 9–10. Many expect a 25-basis-point rate cut, which would lower borrowing costs and influence how traders position themselves in digital assets. The Federal Reserve also provided $13.5 billion in overnight liquidity through repo operations to support year-end funding needs.

Investment funds tied to digital assets have seen renewed demand. Over the past week, Bitcoin, Ethereum, and XRP exchange-traded products have recorded more than $1 billion in inflows. During Monday’s session alone, Bitcoin ETFs added about $8.5 million in new capital. Ethereum and Solana products experienced modest withdrawals as investors reposition ahead of the interest-rate decision.

Trading firms are closely following money moving into and out of crypto investment products as investor decisions shift toward the final days of 2025.

Also Read: Bitcoin slides gain as investors lose appetite for crypto

Amazon has announced major reductions in the fees it charges sellers in Europe, a move aimed at responding to growing pressure from low-cost competitors such as Shein and Temu. Both fast-growth platforms have been attracting shoppers with ultra-cheap clothing, homeware and electronics, creating a pricing challenge for Amazon in regions where it maintains a strong e-commerce presence.

The company said these cuts represent one of its biggest fee reductions to date and will initially target the fashion category. Starting December 15, referral fees on clothing and accessories priced up to €15 (or £15) will drop from 7% to 5%. For products priced between €15 and €20 (or £15–£20), the rate will be lowered from 15% to 10%.

Shein currently charges sellers 10% in the European Union and just over 12% in the United Kingdom, with zero referral fees for new sellers for the first month, according to its seller portal. Its aggressive discounting — including tops for around €3 and jeans for under €9 — has helped the company take volume from European retailers while expanding into a broad marketplace model similar to Amazon.

Amazon emphasized that the decision aligns with its operational efficiency improvements, stating that cost savings will be passed directly to sellers who rely on its marketplace.

The e-commerce giant remains the leading online retail platform in key markets such as Germany and France. Industry group Ecommerce Europe projects online retail revenue in the region will grow about 7% this year, reaching €900 billion.

Further fee cuts are scheduled beginning February 1, when seller charges for home products up to €20 (or £20) will be reduced to 8% from 15%. Additional reductions will apply to items in pet apparel, grocery, and vitamins.

Fulfillment fees will also be trimmed across Amazon’s stores in Germany, France, Italy, Spain, and the UK — decreasing by roughly €0.32 or £0.26 per parcel from December 15 — as Amazon attempts to maintain price competitiveness and seller loyalty amid a tightening marketplace battle.

Also Read: Amazon Launches AI Seller Assistant to Streamline Inventory, Compliance & Ads

Costco has filed a lawsuit against the U.S. government, seeking assurance that it can recover tariff payments if the Supreme Court decides that President Donald Trump’s emergency trade actions were not authorized by law. The company says it should not lose money paid under a system that could later be judged unlawful.

President Trump’s administration used the International Emergency Economic Powers Act (IEEPA) to justify the tariffs. That law allows the President to respond quickly to national threats, and the White House argues that trade imbalances and foreign practices meet that threshold.

Costco has already paid significant sums on imported products affected by these duties. In its legal filing, the retailer explained that the U.S. Customs and Border Protection rejected its request to delay the liquidation date for certain import entries. Once those entries are finalized, Costco would no longer have the right to contest overpayments.

The company said this creates a serious financial risk. Importers are normally given a six-month window to dispute duty calculations, but Costco notes that the rules for these emergency tariffs remove typical protections and may deny refunds even if courts reject the policy later. Its attorneys say legal action is the only way to ensure repayment rights remain intact while the issue moves through the courts.

Costco is not alone in this legal effort. Numerous U.S. businesses that rely on international supply chains are pursuing lawsuits aimed at preserving access to refunds. Many importers say that unpredictable customs rules and short administrative deadlines make it difficult to comply while protecting their financial interests.

Retail and manufacturing groups have warned that unresolved duties can increase product costs, reduce inventory flexibility, and weaken price competitiveness. The issue affects a wide range of goods, including electronics, household items, clothing, and food products sourced from China, Mexico, Canada, and other trade partners.

Trade data shows that companies have paid an estimated $90 billion in tariffs under the emergency authority since the policy began. Refund decisions tied to these payments now depend heavily on the outcome of cases moving toward the Supreme Court.

Costco argues that its lawsuit is not a challenge to U.S. trade strategy but a necessary step to protect money already paid while the courts decide whether the government had the right to impose these duties without Congress.

Businesses that import goods are watching the case because several companies have already reached similar deadlines with customs. If their entries are marked final before the Supreme Court gives clarity, the money they paid would remain with the government even if the tariff rules change. That creates a financial gap that wasn’t factored into supply and pricing decisions.

Costco is asking the court to confirm that refunds remain possible while the legal process continues. The company says it complied with every tariff requirement since the policy began and should not lose that money simply because the government enforced trade measures that courts may later reject.

Also Read: White House Plans Backup Tariffs Before Supreme Court Decision

Elon Musk says artificial intelligence and robotics could help the United States deal with its growing debt load. The national debt recently moved past $38 trillion, and interest costs have become one of the largest annual expenses in the federal budget.

Speaking in an interview released Sunday with investor Nikhil Kamath, Musk said smarter automated systems could lower the cost of production across major industries. In his view, automation can raise overall output without pushing prices higher, which strengthens tax collections and supports economic growth.

“The only thing that can solve for the debt situation is AI and robotics,” Musk said during the interview. He added that lower costs driven by automation would increase the availability of goods and services, reducing the need for debt-funded government support.

Musk described a short timeline for noticeable results. “We’re not there yet,” he said. “But… how long would it take us to get there? I think it’s three years.”

Out now @elonmusk pic.twitter.com/dQVLniUgWA— Nikhil Kamath (@nikhilkamathcio) November 30, 2025

Federal budget data shows why the issue is gaining urgency. The Treasury paid more than $850 billion in interest in the last fiscal year — more than the government spent on defense, Medicare or Social Security benefits. As older Treasury bonds come due and are refinanced at current interest rates, those payments are expected to increase again.

U.S. companies have already directed billions of dollars into AI development, from logistics automation and chip design to manufacturing systems that replace manual labor. Many of these projects have helped reduce delays and waste in supply chains, but the full effects have not yet shown up in national productivity numbers.

A recent assessment from the Penn Wharton Budget Model projects that the economic effects tied to automation will appear gradually. Their estimates show more noticeable productivity gains in the early 2030s if adoption continues.

The United States is carrying the highest interest expense in its history, and those costs are still climbing as old debt is refinanced. Musk’s argument places automation inside a discussion that typically focuses only on taxes and spending cuts. The speed at which AI becomes a standard part of production will determine whether technology plays any meaningful role in future debt pressure.

Also Read: Elon Musk Says Tesla’s Optimus Could ‘Eliminate Poverty’ After Record $1 Trillion Pay Approval

The slide was not limited to Bitcoin. Major cryptocurrencies including Ethereum and Solana also lost more than 5% on the day. Their declines followed a similar pattern, showing that weakness is widespread across the digital asset market rather than tied to a single project or technology issue.

The downturn comes as borrowing costs remain high in major economies. Higher interest rates increase the cost of accessing money and make low-yield and high-volatility investments less attractive. With few signs of interest rate cuts soon, some investors have reduced positions in speculative assets.

Data from large trading platforms shows fewer large purchases compared with earlier rallies this year. Trading activity involving leveraged positions — where investors borrow funds to increase exposure — has declined recently, and some positions have been automatically closed during price drops, adding to the downward pressure.

Stock markets have also been weak in recent sessions, especially in sectors tied to technology spending. When major tech shares fall, cryptocurrencies often move in the same direction because many traders treat them as similar types of investments — high-growth but high-risk.

Bitcoin is still higher than where it started the year, but recent moves highlight how quickly prices can shift when demand slows. Investors are watching economic updates closely, as interest rate expectations have been one of the strongest influences on digital asset prices this year.

Also Read: Can Buying Bitcoin Today Still Deliver a 10x Return ?

Michael Burry has publicly questioned Tesla’s valuation again, this time focusing on how much the company increases its share count through stock-based pay. In a recent post, he said Tesla raises the number of outstanding shares by more than 3% a year and does not reduce that figure through buybacks. That means shareholders own a smaller percentage of the company over time, even as the business expands.

He also pointed to the equity compensation plan for Elon Musk that shareholders recently approved. The award is tied to financial and operational targets and adds new shares once those targets are met. Burry said the size of that program contributes to the increase in total shares.

Tesla programs referenced by Burry

Burry noted that Tesla now works on driver-assistance software and robotics in addition to electric vehicles. He said companies in multiple regions are developing similar technology. He suggested that these efforts should be monitored through reported financials rather than product announcements. Burry did not say whether he currently holds Tesla shares.

Revenue performance and share structure

Tesla has reported year-over-year revenue gains from vehicles, energy products and services. Profit figures have been uneven, and do not match the pace of the company’s market capitalization. The company has more than 3.1 billion shares in circulation. Equity awards remain a regular part of compensation and increase the number of shares over time. Tesla has not carried out buybacks to offset dilution.

Tesla earns subscription revenue from software upgrades, though vehicles and hardware remain the largest contributors to results. Investors reviewing the company look at how those additional products appear in reported earnings.

Program spending and dilution impact

The company continues to invest in automation-related technology and energy systems. Those costs are recorded while share issuance continues, and both items affect financial reporting. Market observers review:

• Cash required for development

• Production expenses in each product category

• Profits measured against the growing share count

This reporting-based approach monitors how earnings support ownership on a per-share basis.

Differences in coverage from research desks

Not all firms analyzing Tesla draw the same conclusions. Some highlight automation-related revenue within reported results. Others point to current profitability and say they will review further disclosures before adjusting share-value estimates.

Those differences show that Tesla’s price incorporates expectations for products still in development, while share issuance and compensation remain important in how ownership is measured.

Also Read: Elon Musk Wins Shareholder Approval for $1 Trillion Tesla Pay Plan

Light snow is expected to begin late Monday night and increase around the morning commute. Forecasts call for up to 3 inches in the five boroughs before warmer air turns snow into rain during the afternoon.

Areas outside the city will see more significant accumulation. Parts of the Hudson Valley, western Massachusetts, Maine, New Hampshire and Vermont may receive 6 to 12 inches, forecasters said.

“It will feel much more like winter Monday night and Tuesday morning,” said Andrew Orrison, a meteorologist at the Weather Prediction Center. “Snow should be falling in New York City around rush hour.”

Travel delays likely

Even a few inches could slow down buses, subways, airport operations and drivers heading into Manhattan. Airlines may need to de-ice before takeoff. Stronger coastal winds will add to the slowdown.

For commuters and logistics operations already dealing with holiday congestion, the timing is not ideal, and travel costs could rise if delays ripple through air and road networks.

Midwest storm leaves its mark

This East Coast system arrives just after a powerful snowstorm hit the Midwest over the weekend:

• Chicago O’Hare: 8.4 inches — snowiest November day on record

• Madison, Wisconsin: 9.3 inches — set new local record

• Nearly 2,000 flights canceled nationwide Saturday, FlightAware reported

That disruption spilled into Sunday and Monday as airlines repositioned aircraft and crews.

Expected to move out quickly

Snow alerts are also in place across Ontario, where Toronto could see around 2 inches, according to Environment and Climate Change Canada.

While Tuesday’s storm is expected to pass quickly, it will provide ski areas from the Catskills through New England with a welcome coat of early-season snow.

Also Read: Freight Back on Track in Mexico After Road Protests End

Demonstrations targeted major highways, toll plazas and key U.S. entry points, sharply reducing outgoing shipments. In Nogales, Arizona, just three of 32 produce trucks expected earlier this week arrived, sparking concerns about vegetable and fruit availability following the Thanksgiving holiday.

Industry groups estimated the economic hit at roughly $3 million per day from suspended cross-border work and factory shipping delays. Mexico’s export-oriented manufacturing sector — particularly plants that rely on U.S. deliveries — saw immediate impacts.

“In Nogales alone, about 50,000 jobs rely on the export of finished goods,” said Genaro Vecerra, head of Index Nogales.

Agreement details

After more than 12 hours of negotiations, representatives including the National Front for the Rescue of the Countryside and the National Association of Truckers secured commitments from the federal government to:

• Increase highway protections following rising cargo theft and missing-driver cases
• Revisit water-management rules affecting farmers
• Release overdue payments owed to wheat and corn producers
• Create a permanent working group to address rural pricing and trade matters, ahead of the 2026 USMCA review

Mexico’s Interior Ministry said the agreement would restore unrestricted public movement and gradually return freight networks to normal levels.

The National Association of Transporters reported that by Thursday afternoon, about 90% of blockades had been lifted. Some isolated road closures continued in Tamaulipas, Oaxaca, Hidalgo and Guanajuato.

Protest organizers cautioned that the resolution remains conditional. They plan to monitor government follow-through and warned that demonstrations could resume if progress stalls.

China-Built Vehicles Arrive in Mexico Aboard Jisu Fortune

The Port of Lázaro Cárdenas welcomed the vessel Jisu Fortune on Nov. 22, marking its first Mexican port call. The Liberian-flagged LNG-powered ship discharged 5,041 vehicles from Chinese automaker Geely — including Zeekr models — over a four-day operation handled by SSA Mexico.

Officials said the arrival reinforces Lázaro Cárdenas’ growing role in Pacific automotive trade and supports expanding Asian vehicle imports. The port has an annual capacity exceeding 2.2 million TEUs and has become a key entry point for both car shipments and container cargo.

Dual Borgstena Opens New Auto Interiors Plant in Coahuila

South Korean firm Dual Borgstena has launched a new manufacturing facility in Monclova, Coahuila, adding between 880 and 900 jobs to the region’s automotive supply chain.

The plant will produce vehicle seat upholstery. State officials promoted the investment as evidence of Coahuila’s industrial consistency, skilled workforce and continued appeal for foreign capital. Authorities said additional Korean suppliers are already evaluating new projects in the region.

Also Read: Bank of America Confident in Mexico Growth Despite Tariff Concerns

Key Points

Bitcoin has risen from a few cents in 2010 to nearly $100,000 today. Even so, on-chain and exchange data show early-cycle market behavior rather than late-stage saturation, raising the question of whether a tenfold rise remains achievable.

Recent liquidity data shows a declining share of Bitcoin available on major exchanges. More coins are now held in wallets that historically remain inactive for long periods. When similar supply declines occurred during previous cycles, price moves did not peak until much later in the expansion.

At the same time, regulated investment access has broadened. Spot exchange-traded products, corporate treasury positions, and pension-linked exposure have increased the base of buyers who typically maintain positions across multi-year horizons. Those flows reduce the availability of coins for short-term trade, shifting pricing power toward remaining bids.

Bitcoin’s issuance schedule continues to limit new supply. After each halving event, fewer new coins reach the market. Mining output now represents a small share of overall circulation compared with earlier cycles, placing greater emphasis on the pace at which existing holders release assets for sale.

Pricing models that compare market value with the amount of Bitcoin last moved more than 12 months ago indicate conditions that have historically aligned with mid-cycle phases rather than tops. In previous cycles, valuations advanced well beyond the point where exchange reserves began tightening.

Portfolio studies following past peaks show that small Bitcoin allocations introduced earlier in the cycle have had a measurable effect on long-term wealth. A 2%–3% weighting in diversified portfolios often produced larger gains than the remaining assets combined once prices reached new highs.

Bitcoin has also shown the ability to recover from sharp selloffs and move higher in later phases of the same cycle. Prior downturns — including substantial declines in 2014, 2018, and 2022 — were followed by new record prices after liquidity conditions reset.

Bitcoin trading pairs across major exchanges show a decline in available supply compared with the last two cycle peaks. Exchange balances are down more than 20% from their 2021 levels, according to on-chain trackers. Before previous long-term highs, balances reached the opposite extreme — rising sharply as holders prepared to sell. That pattern is not visible today, suggesting that large holders have not yet begun distributing coins into the market at scale.

Also Read: UK Budget Brings Mandatory Crypto Tax Reporting From Jan 2026

Even modest withdrawals carry long-term consequences. Money removed from a 401(k) loses years of market growth, and the gap created early can result in significantly less income during retirement.

Hardship Withdrawals and Loans Continue to Rise

Financial industry data shows a clear pattern:

• Hardship withdrawals have more than doubled since 2018, now impacting about 5 percent of participants.

• 401(k) loans have steadily risen since 2021.

• Workers without an emergency fund are twice as likely to tap retirement balances.

Medical expenses, rising rent, delinquent bills, and unexpected emergencies are among the most common reasons cited. But the financial relief often comes with a hidden price that stretches far into the future.

How Early Access Works: Withdrawal vs. Loan

Understanding the structure of a withdrawal or loan is essential before making a decision.

Key Differences

While loans may appear less harmful than withdrawals, both remove money from investment markets, slowing the compounding process that builds retirement income.

Long-Term Losses Can Exceed $100,000

Calculations show how quickly early withdrawals reduce future savings. Assuming a 7 percent annual return:

Since compounding accelerates later in life, missing even a few years of growth can delay retirement or require significant lifestyle cuts in retirement.

Behavioral Slippage Can Magnify the Risk

Financial planners frequently observe that once someone withdraws from retirement accounts, the barrier to doing it again becomes lower. This increases the likelihood of repeated withdrawals or loans, each creating additional long-term damage.

Relying on retirement savings for short-term costs also raises the probability of entering retirement with a balance too small to cover living expenses, resulting in greater dependence on Social Security.

Better Strategies to Avoid Tapping Retirement Funds

Before using retirement savings, experts recommend exploring:

• A properly maintained emergency fund covering three to six months of expenses

• Personal loans with defined interest rates and repayment terms

• A home equity line of credit (HELOC) where appropriate

• Negotiation of large bills, especially hospital or medical charges

• Employer-provided hardship support or financial counseling programs

When retirement funds remain untouched, investment growth continues uninterrupted, strengthening retirement readiness.

How Early Withdrawals Reduce Future Retirement Income

Early withdrawals may provide quick access to money during a financial squeeze, but the long-term effect is significant and measurable. Once funds are removed from a 401(k), both the principal and the compound growth it would have generated are lost. Over decades, that missing growth becomes the largest part of the financial damage.

Contributions made during a worker’s 30s and 40s often grow into a substantial portion of their final retirement balance. Industry analysts warn that as early withdrawals rise among these age groups, projections are already shifting toward smaller balances at retirement and an increased chance that workers will need to remain employed longer than planned.

In addition, a withdrawal often interrupts regular contributions, which delays future compounding even after savings resume. Combined with the cost of taxes and penalties, that interruption can lead to reduced lifetime wealth and a greater dependence on Social Security to cover essential expenses in later years.

Also Read: How Much 401(k) You Should Have in Your 60s, According to New Data

Beginning January 1, 2026, crypto trading platforms operating in the country will be required to collect detailed information from customers about their crypto transactions — including tax reference numbers — and submit the data to HM Revenue & Customs (HMRC) the following year.

The initiative is part of the Cryptoasset Reporting Framework (CAFR), a global cooperation effort designed to increase tax transparency within the digital asset industry.

Penalties for Non-Compliance

Investors who refuse to provide the required information may face fines of up to £300. Trading platforms that fail to report customer details can also be fined £300 per unreported user, potentially leading to significant financial penalties.

HMRC will cross-check the new reporting data with filed tax returns and identify individuals who have not properly declared crypto-related gains. The UK government estimates that stronger compliance measures could generate over £315 million in additional tax revenue by April 2030 — enough to support major public spending, including healthcare staffing.

HMRC officials stress that this is not a new tax, but a stronger enforcement of existing capital gains rules. Investors are being urged to ensure they understand what information they must provide to crypto platforms.

Challenges Ahead for Crypto Platforms

Tax specialists warn that collecting and verifying detailed personal data may prove difficult for trading platforms, especially given the privacy-minded nature of many crypto users.

Exchanges will need upgraded systems to store, validate, and report accurate customer records. Any failure — including late submissions, missing information, or poor due-diligence procedures — could trigger harsh penalties from HMRC.

These operational changes are expected to be costly, and experts predict that crypto companies may eventually pass compliance expenses on to traders through higher fees.

There is also the possibility of users seeking ways to bypass regulated platforms — a pattern seen in other financial sectors when strict reporting rules were introduced.

DeFi Taxation Still Under Review

While confirming progress on CAFR, the government also released an update on how lending and staking in decentralized finance (DeFi) might be taxed in the future.

Initial guidance suggests HMRC may support a “no gain, no loss” approach — meaning taxable events would only occur once assets are converted or withdrawn, rather than during ongoing lending or liquidity-pool activity.

However, no final decision has been made, and the government plans to continue consulting industry stakeholders before setting a timeline for policy implementation.

Also Read: Spot Solana ETFs Record First Outflow Since U.S. Market Debut

The investment would be made through AdaniConneX, a joint venture between Adani Enterprises and U.S.-based data-center operator EdgeConneX.

Google announced in October that it would spend $15 billion over five years to build an artificial-intelligence data-center campus in Visakhapatnam. The project includes an initial power capacity of one gigawatt.

Singh said discussions are not limited to the Google project, and that other potential clients have approached the company for large-scale data-center requirements.

Google has also indicated that its global capital expenditure on data infrastructure could total about $85 billion this year as technology companies expand capacity to support AI services.

Indian firms have made similar commitments. Groups led by Gautam Adani and Mukesh Ambani have announced separate data-center plans as demand for domestic infrastructure increases.

Also Read: Google to Build $15B AI Data Center in India’s Visakhapatnam

Trading activity appeared stronger than in recent sessions, fueled in part by increased interest from investors in silver-backed exchange-traded funds and continued industrial demand. Some market participants are also watching expectations of a possible U.S. interest-rate cut in December, which has drawn attention toward precious metals.

In November, roughly 54 million troy ounces of silver flowed into London vaults — a move that softened but did not eliminate supply pressure. Borrowing rates for silver remain higher than normal, a sign that tight availability prevails in the physical market.

At the same time, warehouse holdings tied to the Shanghai silver market recently dropped to levels not seen since the mid-2010s, highlighting continued supply constraints in one of the world’s major metal storage hubs.

On Friday, futures trading on the CME’s Comex exchange paused for several hours. When trading resumed, liquidity remained thin and prices showed increased volatility. The disruption added instability to both the futures and spot silver markets.

Over the course of 2025, silver has gained nearly 90% in value. That increase reflects a combination of strong industrial demand — especially in sectors such as solar-panel manufacturing and electronics — and renewed investor interest in precious metals.

By late afternoon in London, silver was trading above its opening mark for the day. Gold prices also recorded gains during the session.

Also Read: Gold Holds Below $4,100 as Traders Wait to See What the Fed Will Do in December

Key Highlights

New York — Sandisk Corp. joined the S&P 500 Index on Friday after its valuation exceeded $31 billion and met the committee’s eligibility requirements.

Shares jumped in early trading Friday before returning some gains later in the session. Even after the pullback, Sandisk remains one of the most heavily traded semiconductor-related stocks this year. Its market capitalization now stands above $31 billion, according to estimates compiled by Visible Alpha.

The company regained its independence in February through a spinoff designed to focus operations on flash-based storage for enterprise clients. Western Digital retained its magnetic-disk business, while Sandisk assumed responsibility for NAND products and high-performance solid-state drives used by cloud-computing providers.

Major data-center operators have increased orders for storage hardware as they deploy servers that handle large-scale model training and retrieval tasks. This has supported higher pricing for flash components following a difficult period of oversupply in the memory industry.

Index Movement and Eligibility

Sandisk joined the S&P 500 after the completion of Omnicom Group’s acquisition of Interpublic Group earlier this week. The index committee considers factors including:

• Market value

• Liquidity

• Financial reporting standards

• U.S. listing requirements

Entry typically results in additional buying activity because index-tracking funds are required to hold the company’s shares.

Related Index Changes

Several adjustments accompany Sandisk’s inclusion:

• PTC Therapeutics will move into the S&P SmallCap 600, taking Sandisk’s former place.

• Upwork will join the SmallCap 600 as well, replacing Premier, which has transitioned to private ownership.

These updates will be reflected in index-tracking portfolios at the start of next week.

Business Segments and Customer Base

Sandisk’s revenue is mainly generated from enterprise storage products supplied to cloud and server manufacturers. These products include NAND components and solid-state drives installed in high-capacity data-center equipment.

The company reports a smaller contribution from retail and consumer storage devices than in previous years. Corporate accounts now represent the majority of shipped volume, based on internal segment disclosures.

Sandisk has signed supply agreements with large technology firms that operate data centers used for model processing, digital media services, and commercial cloud platforms. Pricing for flash products recorded an improvement this year compared with the period before the separation from Western Digital.

Sandisk joins the S&P 500 within its first year as a standalone business, meeting the size and trading criteria required for inclusion in the benchmark index.

Also Read: Are AI Stocks Running Ahead of Reality? Should Investors Hold Extra Cash?

Approximately $8.10 million exited the funds, according to issuer-reported flow data.

The decline was driven mainly by a $34.37 million redemption from 21Shares’ TSOL.
Meanwhile, other issuers saw new subscriptions: Bitwise’s BSOL added $13.33 million, and Grayscale’s GSOL gained $10.42 million, reducing the overall impact.

Solana’s price moved higher during the trading session, reaching around $141, up roughly 3.6% over 24 hours.
Combined assets held across the U.S. Solana ETFs total about $915 million, a small portion of Solana’s overall $79 billion market valuation but notable for products that have only recently entered the market.

Altcoin ETF Activity

The first day of redemptions follows 21 straight sessions of net inflows into Solana products.

Other crypto-linked ETFs showed mixed but active trading:

• XRP funds continued to post net inflows
• The newly launched Dogecoin ETF expanded to $6.48 million in assets
• The Litecoin ETF, trading since late October, has seen no redemptions but minimal growth since mid-November

The variation across issuers reflects distinct allocation patterns within the altcoin ETF segment.

Recent Performance

Solana’s price moved to about $141 during Wednesday’s session, but the monthly performance remains negative.
Data shows a decline of roughly 30% over the past 30 days, reversing a portion of gains from earlier in the year.

Even with the recent rise, Solana trades at less than half of its previous all-time high of $293.31 set in 2021.
On the prediction platform Myriad, users place a 92% probability that Solana will not revisit that record before the end of the year — indicating expectations for a slower recovery based on current pricing inputs.

Fund Mechanics During the First Outflow

The funds processed redemptions without pricing dislocation, and no divergence emerged between ETF share prices and the underlying SOL market.

Trading volume across listing venues remained consistent with recent averages, and settlement operations continued normally through authorized participants.

The flow activity showed the ETF structure functioning as intended during its first withdrawal event since launch.

Also Read: Bonk ETP Launches on SIX Swiss Exchange via Bitcoin Capital

Solana-based meme token Bonk (BONK) has been listed on the SIX Swiss Exchange through a new exchange-traded product issued by Bitcoin Capital. The listing expands access to the cryptocurrency in Europe through regulated securities markets.

Bitcoin Capital, headquartered in Switzerland, said the country’s regulatory framework and existing infrastructure for crypto-linked products were key factors in selecting the venue. Marcel Niederberger, Chief Executive Officer at Bitcoin Capital & FiCAS, said the product is designed to reach institutional and retail investors who trade through traditional broker platforms.

He noted that regulated access has supported participation in the firm’s earlier digital-asset products and helps investors operate within compliance rules.

The issuer expects more financial instruments tied to BONK to be evaluated next year as demand develops and market infrastructure continues to support digital-asset-based securities.

Bonk is currently priced near $0.0599, trading higher on the day. It ranks as the seventh-largest meme cryptocurrency by market value, according to CoinGecko.

Meme-Token Listings Increase

The Bonk product is one of several recent attempts to introduce meme-asset exposure into regulated markets. Dogecoin continues to lead the category, supported by a series of new products in the United States, including a fund holding DOGE and additional ETF approvals for trading on major U.S. exchanges.

Asset manager REX Shares has also filed for a Bonk ETF in the U.S. alongside other applications tied to similar tokens.

Bitcoin Capital said institutions remain the primary source of inflows across its digital-asset securities, and expects interest in new offerings to align with the wider rollout of token-tracking products.

Also Read: Most Solana Holders Now in Loss as Market Decline Continues

But beneath the excitement is a quieter truth: every year, holiday spending pushes countless people into debt and financial stress. January doesn’t just bring the cold — it often brings regret.

A Hard Reality Hidden Behind Festive Lights

Many shoppers assume they’ll “figure out” the finances later. But the holiday system is built in a way that encourages you not to think about the future at all. The entire marketing strategy is built on urgency:

Only 3 hours left!
Deal expires at midnight!
Limited stock — hurry!

And in that rush, emotional spending replaces thoughtful choices.

When bills arrive, the joy of the purchase fades, but the interest stays — sometimes for years.

There Is a Better Way: Pay Yourself First

Financial advisors have a powerful philosophy:
Before you spend on anything else, secure your future self.

Paying yourself first means:

• Put money into your savings or investments before you set your holiday shopping budget.

• Ensure your financial security is handled before any discounts distract you.

• Your life goals — not retailer deals — determine what you can afford.

This isn’t about becoming boring or saying no to gifts. It’s about saying yes to peace of mind.

Because when you build your budget around what’s left after savings, you’re taking a calculated risk.
But when you build your spending after securing savings, you’re building a stable life.

Why This Year Feels Riskier Than Before

Inflation has lifted prices on everything from groceries to gas. Interest on credit cards is higher than it has been in decades. Many households are already stretched thin. When shoppers take on new debt now, they’re doing it in a financial environment that punishes borrowing more harshly than ever.

Debt doesn’t just create a financial setback — it creates ongoing limitations:

• You delay goals like buying a home or replacing a car

• You sacrifice future investments that could grow your wealth

• You begin each year with stress rather than optimism

The holidays shouldn’t dictate your financial health — you should.

How Paying Yourself First Can Transform the Season

what happens when you shift priorities:

1. You break the cycle of impulsive seasonal debt
2. You feel more in control of your wallet and your emotions
3. You start the new year with progress, not panic
4. You enjoy gifts without guilt attached to them
5. You teach yourself and your family a healthier financial culture

Most importantly, you give yourself the freedom to make better decisions — not rushed ones.

Practical Ways to Pay Yourself First — Starting Today

These steps are simple, quick, and realistic. Even choosing just one creates a meaningful change:

1. Increase Your Emergency Cushion

Unexpected expenses rise during the holidays — travel, medical bills, gifting obligations.
Adding even a small amount — $25, $50, or $100 — offers breathing space later.

The holiday season becomes far less stressful when surprises don’t require a credit card.

2. Protect Your Retirement Growth

If you are covered by an employer retirement plan, check:

• Are you contributing enough to receive the full employer match?

• Can you increase the contribution at least for the final pay cycles of the year?

That extra money grows for decades — far more valuable than a discount on the latest gadget.

3. Audit Your Digital Life

Subscription services silently drain millions from households each year.

Streaming services
Food apps
Cloud storage
Software trials that never got canceled

Five minutes of clean-up can free real money for long-term goals.

4. Rebuild Your Holiday Budget Around Reality

Before browsing deals:

• List every person you truly plan to shop for

• Set a strict limit per person

• Keep a buffer for unexpected gifting

Once that list is set — stick to it relentlessly.
If it’s not on the list, it doesn’t go in the cart.

5. Use a “Match Your Spending” Strategy

For every purchase, invest an equal or smaller portion into savings or a retirement account:

Spend $60 → Save $60
Spend $100 → Save $100

This method turns holiday excitement into long-term progress.

6. Compare Needs vs. Wants with Simple Questions

Before checkout, ask:

• Will this still make me happy in two months?

• Am I buying this because I want it or because it’s cheaper today?

• Would I pay full price if this wasn’t a sale?

If the answer is “no,” skip it.

Retailers thrive when we don’t ask questions.
You thrive when you do.

The Psychology Behind Overspending — and How to Beat It

Shopping triggers dopamine — the brain chemical responsible for pleasure and anticipation. Discounts intensify that rush.

Retailers design the experience to:

• Shorten decision time

• Pressure you into “grab before it’s gone” behavior

• Make purchases feel like wins or achievements

This year, create a pause before purchase:

Step away from the screen for 10 minutes.
Check your financial goals.
If you still want it after the pause, revisit the decision.

You’ll be surprised how many items lose their importance once the excitement cools.

A New Way to Define the Holidays

Think about what you cherish most from past holidays:

a hug from someone who traveled home
a long family dinner
a shared joke that gets retold every year
a quiet moment of gratitude

Those memories have no price tag.

We confuse spending with celebration because marketing convinces us that the holidays require more, more, more. But joy doesn’t scale with dollars spent. In fact, research consistently shows that:

People remember experiences more than objects.

So instead of competing over who gives the most expensive gifts, focus on who gives the most thoughtful ones. A personalized card or a small tradition often means far more than a flashy purchase.

Why This is the Best Gift You Can Give Yourself

Imagine starting January:

• with extra money saved

• with your investments growing instead of debt growing

• with no financial regret overshadowing the new year

• with confidence instead of anxiety

That’s what paying yourself first unlocks.

You aren’t depriving yourself.
You’re prioritizing yourself.

If brands can use Black Friday to boost their profits, you deserve to improve yours too.

Simple Holiday Financial Plan for Anyone

Here’s a quick blueprint you can follow immediately:

1. Decide your savings and investment contributions first

2. Audit spending and trim unnecessary recurring expenses

3. Create a realistic but strict holiday budget

4. Use a small emergency fund for last-minute obligations

5. Track every holiday purchase so spending doesn’t snowball

6. Celebrate experiences more than items

7. Review your account weekly to stay grounded and aware

This takes less than an hour — but the impact lasts all year.

A Holiday Season That Feels Good in the Moment — and After

Remember: this isn’t a decision against shopping.
It’s a decision for your future.

Buying gifts for loved ones is a beautiful tradition.
Buying stress for yourself is not.

So before you purchase anything this Black Friday, take one action that protects your money, supports your goals, and strengthens your financial future.

Make your financial wellbeing the first gift of the season.
Everything else comes after.

Keep the Celebration — Not the Debt

Before you get pulled into flash sales and countdown timers, take a step back and ask yourself what you really want your January to look like. A few smart decisions now — setting your budget, checking your savings, planning ahead — can help you enjoy the celebrations without worrying about the consequences later.

Also Read: How Much 401(k) You Should Have in Your 60s, According to New Data

New York City Comptroller Brad Lander has called for a major review of BlackRock’s role in managing retirement money for city workers, setting up an early test for Mayor-elect Zohran Mamdani. In a memo sent November 25 to pension trustees, Lander said the firm has stepped back from holding U.S. companies accountable for climate-related financial risks and may no longer align with the funds’ long-term interests.

BlackRock oversees about $42.3 billion in assets for the city’s retirement systems, which serve roughly 800,000 current and former municipal employees. The firm is the largest external manager in the portfolio, giving it significant influence over how climate exposure, emission regulation, and long-range energy risk translate into investment decisions.

Lander pointed to BlackRock’s recent policy change that limits how it engages with corporate leaders on issues like emissions disclosure. The firm told federal officials earlier this year that it would avoid urging companies to adjust climate policies — a shift that followed pressure from Republican critics who argued big asset managers were interfering with business strategy. Lander called the approach shortsighted and warned that failing to assess climate-related financial threats undermines fiduciary responsibility.

His recommendation does not cut ties outright. Instead, he wants pension trustees to open the contract to competition for U.S. equity mandates, while keeping BlackRock in place for international index strategies. He also advised maintaining $8 billion in index investments run by State Street and dropping managers such as Fidelity and PanAgora, which he said show the same reluctance to address material climate risks.

The timing places the decision squarely in front of Mamdani once he takes office on January 1. New appointees from his administration will sit on or influence the boards that vote on pension contracts, meaning the incoming mayor will help decide how one of the nation’s largest public retirement systems responds to climate-risk concerns. For Mamdani — who campaigned on financial fairness and accountability — the pension issue is becoming one of the first major questions of his term.

The debate also reflects a broader national split. Several Republican-led states have withdrawn assets from BlackRock, arguing the company has been too aggressive on environmental oversight. New York’s potential rebid would make it one of the first large Democratic-aligned systems to act for the opposite reason — saying that not addressing climate exposure puts workers’ savings at risk.

Environmental finance advocates say the outcome will signal how the city plans to defend pension stability in a changing market. They argue that climate-driven disruptions are not political speculation but real investment risks with long time horizons — exactly the period pension funds must manage.

Decisions on the BlackRock contract are expected after the administration changes hands, making this one of the earliest financial choices that will define how Mamdani governs a system responsible for the retirement security of hundreds of thousands of New Yorkers.

Also Read: US Regulators Approve Eased Leverage Rules for Large and Small Banks

The round was led by Footwork, with participation from Liquid 2, Parable Ventures, 43, and other investors. Onton has now collected about $10 million in total funding.

From Furniture Search Tool to AI Shopping Companion

Only a year ago, Onton had around 50,000 monthly users. Today, it reports over 2 million, driven largely by shoppers who want a faster way to look through endless online catalogs.

Onton lets people:

• Upload a photo of their space and ask the AI to furnish it
• Search using images instead of text
• Generate design layouts and swap items in and out
• Compare store listings in a single interface

The company says these tools help customers make decisions instead of getting stuck scrolling product pages. According to Onton, shoppers are 3–5 times more likely to complete a purchase on its platform than on traditional e-commerce sites.

A Different Kind of AI Search

Most e-commerce search tools depend entirely on product descriptions provided by retailers. Onton claims to go further by teaching its system to infer real-world attributes that aren’t spelled out.

Example:
If someone asks for a pet-friendly sofa, the AI can identify fabrics like polyester that resist scratching and stains — even if the retailer never mentions pets.

Co-founder Zack Hudson says this requires more than a large language model (LLM). Onton uses a neuro-symbolic system that mixes neural networks with logic rules so results stay grounded in actual product qualities — not guesses.

“Shopping terms aren’t standardized. The same lamp might be called three different things on three websites,” Hudson said.
“We’ve trained our system to connect those differences so people actually find what they’re looking for.”

Why the Company Changed Its Name

Onton was originally called Deft. The team changed the name earlier this year after running into domain availability issues and concerns that “Deft” was too generic to build a strong brand around.

The company says the rebrand helped improve recognition — especially as it begins expanding beyond furniture.

Clothing and Gadgets

The money will be used to enter apparel first, followed later by consumer electronics — two large online shopping categories where decision-making can be overwhelming.

Those expansions will also put Onton into new competitive battles:

• Daydream, Aesthetic, and Style.ai in fashion
• Big-tech giants in electronics, including Amazon and Google

Hudson believes Onton’s visual and data-driven approach will translate well to these categories because shoppers want to understand fit, style, and compatibility before purchasing.

A Small Team Taking on a Big Problem

Onton started the year with only three people—the two founders and one engineer—managing everything from the search engine to retailer onboarding. The startup says it had no choice but to stay lean while it tested whether AI-guided shopping was something people actually wanted.

Now that more than 2 million people a month are using the service, the company has begun adding talent where the product needs it most. Onton has grown to a 10-person team, including roles focused on product data quality, structured listings, and the visual layout tools that let shoppers test how furniture fits in a real room.

The company is hiring again following the new investment. Hudson says they are adding AI engineers who specialize in understanding product attributes, as well as researchers who can teach the system how shoppers make decisions—like what details matter when choosing a sofa vs. a winter coat.

The team expects to reach around 15 employees over the next few months, but Hudson stressed that the company wants to avoid rapid headcount growth just for appearance.

“Every category we add has its own logic,” he said. “Getting that right matters more than hiring fast.”

Also Read: Anthropic Releases Claude Opus 4.5 With Major Price Cut and New Top Coding Scores

Anthropic has finished rolling out its Claude 4.5 series with the release of Claude Opus 4.5, the model designed for the most demanding software, research, and reasoning workloads. It joins Sonnet 4.5, introduced in late September, and Haiku 4.5, launched in mid-October, forming a three-tier system for different types of development and automation work.

Unlike the earlier launches, Opus arrived with a notable shift in pricing. Anthropic reduced the cost of the flagship tier by 67%, bringing it to $5 per million input tokens and $25 per million output tokens—one of the steepest price cuts for a top-end model this year.

Improved Performance on Real Development Tasks

Opus 4.5’s gains are most visible on coding benchmarks. The model posted an 80.9% result on SWE-bench Verified, a benchmark built around real bug fixes and software engineering tasks. This puts Opus ahead of OpenAI’s GPT-5.1 Codex Max (77.9%) and Google’s Gemini 3 Pro (76.2%) on the same test.

Anthropic says the model also exceeded the scores of all human candidates on its internal engineering exam, a timed evaluation used inside the company to measure decision-making under pressure. The company positions these improvements as evidence that Opus is now their most reliable tool for large-scale refactoring, production logic, and multi-step reasoning pipelines.

A Fast Sequence of Rival Releases

Opus arrives at the tail end of a crowded release cycle among major AI developers.

• Google introduced Gemini 3 Pro on November 18.
• OpenAI launched GPT-5.1 Codex Max the following day.
• Anthropic followed soon after with Opus 4.5.

The rapid series of launches has turned benchmarking into a near-daily contest. Anthropic’s pricing move adds another layer to the competition, reflecting pressure to make high-end models affordable for large deployments in coding, automation, and enterprise workflows.

Growing Competition From Asia

While Anthropic, OpenAI, and Google dominate Western markets, Chinese models are advancing quickly. Alibaba’s Qwen2.5-Max (released in January) and Qwen3-Max (released in September) have achieved strong results on research, multilingual analysis, and large-document reasoning tasks.
Qwen3-Max, in particular, performs well on LMArena and is widely used for deep technical research and workflows in East Asian languages. Although the Qwen models have limited presence outside China, they represent a major push for domestic AI capability in response to U.S. chip export controls.

How Opus Fits Into the Claude Product Line

With the 4.5 family complete, Anthropic now offers three distinct options:

• Haiku 4.5: optimized for speed and smaller tasks
• Sonnet 4.5: the balanced choice for day-to-day coding and agent work
• Opus 4.5: built for long reasoning chains, large codebases, and multi-hour workflows

Opus offers a 200,000-token context window and can generate outputs up to 64,000 tokens, giving it a capacity advantage for working on full repositories or large research documents. The model’s knowledge cutoff is March 2025, slightly more recent than Sonnet’s January cutoff.

Developer Testing Shows Strong Early Results

Developers who tested Opus before launch reported meaningful improvements, particularly on long, structured tasks. Simon Willison used the model to restructure one of his projects, spanning 39 files, 20 commits, and thousands of line changes. The model managed the edits reliably, though Willison said the performance gap between Opus and Sonnet feels small during routine development.

Other testers have been more enthusiastic. Theo Browne, CEO of T3 Chat, described Opus 4.5 as “the best coding model ever built,” citing its consistency and ability to follow complex logic without frequent corrections.

Backed by Major Industry Partnerships

Anthropic’s product expansion coincides with growing support from industry partners. Microsoft and Nvidia announced deeper multi-billion-dollar investments in the company last week, lifting Anthropic’s estimated valuation to about $350 billion.
The partnerships include expanded access to Azure infrastructure and next-generation Nvidia hardware for training and deploying the Claude models at scale.

Where Opus 4.5 Is Available

Claude Opus 4.5 is now accessible through:

•  Anthropic’s API
• AWS Bedrock
• Google Vertex AI
• The Claude web and desktop applications

Also Read: US Gives Green Light for AI Chip Exports to Humain in Saudi Arabia

AAA reports that the national average for regular gas was $3.05 on Tuesday — almost the same price drivers paid at this time last year. Prices remain high on the West Coast, where states like California and Washington are still above $4 a gallon. But 28 states, mostly in the Midwest and Gulf Coast, are now below $3.

Several forces are behind the decline. Demand usually falls after summer, winter gasoline blends are cheaper to produce, and crude oil prices have been sliding going into the end of the year.

Patrick De Haan of GasBuddy said more relief is likely on the way. He expects the national average to slip under $3 within the next week, which could keep prices low through the rest of the year. GasBuddy recently found four stations in Midwest City, Oklahoma, charging $1.99, marking the first steady sub-$2 pricing seen since 2021.

Oil markets are reinforcing the trend. Brent and West Texas Intermediate crude both dropped more than 2% on Tuesday as talks continued over a possible peace plan involving Ukraine and Russia, one of the world’s major oil producers. Both benchmarks are now down more than 17% since the start of the year.

Tom Kloza, chief oil analyst at Gulf Oil, said late fall and early winter normally bring the most favorable cost conditions for gasoline, and the recent slide in crude prices is adding to that downward push.

Also Read: Oil Slips Below $59 After Ukraine Confirms Review of Draft Peace Plan

U.S. banking regulators have finalized a set of changes that will ease the leverage requirements banks must meet, allowing firms to hold less capital against certain low-risk assets. The Federal Deposit Insurance Corporation (FDIC) voted to approve the updated framework for the enhanced supplementary leverage ratio, a key post-crisis standard that applies to the country’s largest financial institutions.

The move marks the first major recalibration of leverage rules in several years. Other federal regulators are expected to sign off on the same changes in the coming days.

According to an FDIC staff analysis, the revised standard is expected to reduce total capital requirements for the largest global banks by about $13 billion, or just under 2%. The effect will be more pronounced at their depository institution subsidiaries, where required capital levels are projected to fall by an average of 27%, equal to roughly $213 billion.

Regulators emphasized that easing this specific rule does not allow banking groups to return more capital to shareholders, since broader regulatory requirements at the holding-company level remain unchanged.

Banks must meet the updated leverage standard by April 1, though they may choose to adopt it earlier starting January 2026.

Why Regulators Decided to Change the Rule

Regulators revised the leverage rule after months of feedback from large banks and market supervisors. Banks told regulators that the old standard had started to create problems because it treated every asset the same, even very safe ones like U.S. Treasuries. As government debt increased, the rule began forcing banks to hold more capital than expected, even when those holdings carried little risk.

Supervisors reviewing the issue saw similar signs. They noted that the rule had become tighter than originally intended and, in some cases, made it harder for major banks to support normal market activity. One concern raised internally was that an overly strict requirement could discourage banks from helping stabilize Treasury trading during periods of market stress.

The update aims to fix those pressure points. Under the revised framework, the amount of capital a large bank must hold will now reflect its size and importance in the financial system, rather than applying the same treatment across the board. Regulators said the changes adjust the rule without weakening other capital standards that still apply to holding companies.

How the Rule Change Affects Smaller Banks

Alongside the changes for large institutions, regulators also turned their attention to community banks. The FDIC introduced a proposal that would lower the leverage ratio for banks under $10 billion in assets from 9% to 8%. This ratio determines how much capital small lenders must hold against their total assets, regardless of risk.

Community banks have told regulators that the current 9% threshold has become harder to meet as they manage slower deposit growth, higher funding costs, and heavier pressure on interest margins. Lowering the ratio by one percentage point would free up part of their balance sheets and give them more capacity to make loans or absorb shifts in deposits without immediately raising capital.

The proposal does not change other supervisory requirements for small banks. It simply adjusts a single measure that many community lenders say no longer reflects their everyday operating conditions. The FDIC will review public feedback before deciding whether to finalize the change.

Also Read: How Much 401(k) You Should Have in Your 60s, According to New Data

Gold futures opened lower on Monday and stayed under the $4,100 mark, a level the metal has been unable to break since November 19. Gold began the day at $4,069.20 per ounce, slightly below Friday’s close of $4,079.50.

Much of today’s trading is tied to expectations for the Federal Reserve’s next move. CME FedWatch data shows a 73.5% chance that the Fed will cut interest rates in December. The estimate increased after New York Fed President John Williams said last week that he supports another cut.

This year’s final Fed meeting is unusual because policymakers do not have fresh U.S. jobs data.

• The October jobs report was canceled.

• The November report will arrive on December 16, several days after the Fed meets on December 9–10.

Without those reports, traders have been watching inflation data, consumer spending, and Treasury yields to understand how the Fed may act.

Gold often reacts to interest-rate changes because the metal does not pay interest. When rates fall, savings accounts and government bonds offer smaller returns, giving investors more reason to hold gold.

How gold compares with recent levels

Gold’s current price shows a mixed pattern:

• unchanged from last week,

• down 1.2% from one month ago,

• up 51.4% from one year ago.

Gold’s one-year gain was even higher earlier this month, reaching 63.4% on November 14.

Gold prices are often reported in two ways. The spot price reflects the cost of physical gold in real-time trading. Consumers pay more than spot when buying coins or bars because of refining and dealer costs. Gold futures are exchange-traded contracts that set a price for delivery at a later date and are commonly used by traders for short-term positioning.

Why gold is steady this week

Gold has moved in a tight range because traders lack the labor data they normally review before a Fed meeting. With no official numbers on hiring or wages, markets have been slower and more cautious. Many trading desks describe this week as one where the market is simply waiting for clearer information.

Physical demand for gold has remained steady, including from central banks and long-term buyers who continue to add to their reserves. That steady demand has helped gold avoid larger declines even as futures remain below $4,100.

Most traders are waiting for the Fed’s December rate decision before taking new positions.

Also Read: Gold Falls Over $250 After Record $4,374, Silver Also Slides

Latest on-chain data shows that nearly 80% of all SOL in circulation is currently below its cost basis. Analysts warn that when the majority of investors fall into loss territory, the market often becomes more fragile, as traders try to protect remaining capital.

According to market data, about $239 million in leveraged long positions would be liquidated if Solana drops under $124.40, creating a concentrated pressure point that could accelerate price declines. Solana is trading close to $129, showing minor movement in the past 24 hours but still sitting near a zone where forced selling could increase rapidly.

Prediction markets currently give low probability of Solana setting a new all-time high by year-end, indicating that speculators expect weaker conditions ahead.

Lawrence Samantha, CEO of NOBI, noted that large liquidation phases tend to reset overheated market structures, allowing stronger bases to form later. However, he also pointed out that Solana-focused treasury desks remain deeply underwater, with many managing values near 0.6 mNAV. Further losses could force these desks to offload assets to cover operational requirements, which would add more sell-side pressure.

Key Economic Events Traders Are Watching

Although the market has been under pressure for several weeks, a brief weekend rebound has steadied sentiment. Traders are now monitoring two upcoming developments:

• The Federal Reserve’s interest rate decision on December 10

• The anticipated conclusion of the current quantitative tightening phase

Either event could trigger sharp price movement across risk assets if the announcements differ from expectations.

Samantha noted that daily price swings offer limited insight compared to long-term positioning. He pointed to steady inflows into spot Solana ETFs, which have added roughly $719 million since their debut without a single negative netflow day. According to him, this reflects sustained institutional demand rather than short-term speculation.

When asked about the possibility of a market bottom, he said current conditions do not yet meet typical bottoming indicators. Historically, durable lows appear when leverage is cleared out, volatility drops, and long-term buyers begin accumulating quietly.

Price levels around Solana remain sensitive because of the large liquidation cluster sitting just under the current range. Market participants are monitoring the same support zones that triggered heavy position closures earlier this month. These areas have repeatedly produced high liquidation volume, which is why they remain central to traders’ short-term analysis.

Also Read: Why Some Investors Are Buying Bitcoin Before the Year Ends

Average vs. Median 401(k) Savings Tell Two Different Stories

Empower says Americans in their 60s hold an average 401(k) balance of $568,040 as of June 2025. On paper, that might look like a comfortable cushion. But the median balance sits at only $188,792, showing how uneven retirement savings really are.

This gap is not just statistical noise:

• A small group with very large balances pushes the average higher.

• Most households fall near the median, not the average.

• Many have already started taking withdrawals at 62 or 65, reducing their balances early.

• Some stopped contributing years ago due to job loss, caregiving, or health issues.

It’s also notable that people in their 50s now hold a higher average balance ($607,055). This reverses older trends, where 60-somethings traditionally had the highest balances. Earlier withdrawals, early retirements, and career breaks have started to show up in the data.

For workers evaluating their own progress, the median is the number that reflects real households—not outliers.

Confidence Is Low, and Expectations Don’t Match Reality

Retirement-related anxiety is rising among older workers. A Western & Southern Financial Group survey found:

• 47% of Baby Boomers don’t feel confident about their ability to retire comfortably.

• 11% are unsure, often because they haven’t run the numbers.

At the same time, expectations for retirement savings continue to climb:

• Boomers estimate they need around $760,000.

• Gen X expects closer to $1.18 million.

Given a median balance of $188,792, the gap is clear.

Why the confidence gap is widening:

• Medical expenses are rising faster than inflation.

• People are living longer, stretching retirement money further.

• Housing costs remain high, especially for older renters.

• Market volatility has become more frequent.

• Many workers are unsure how long they should delay Social Security.

• Caregiving responsibilities (for parents or grandchildren) reduce savings.

These issues mean workers aren’t just looking at a dollar amount—they’re weighing lifestyle, health, family obligations, and housing decisions.

How Much People Actually Need Depends on Their Spending, Not Just Income

There’s no universal retirement number. But planners use two common guidelines to help people estimate what they need.

1. Eight Times Income by Age 60

This benchmark assumes someone wants to maintain a similar lifestyle after retiring.

Example:
If someone earns $75,000 per year, the target would be about $600,000 by age 60.

But this model doesn’t account for:

• whether someone still has a mortgage

• rising healthcare costs

• whether they plan to work part-time

• whether they’ll downsize

• family support obligations

2. The 4% (or 25× expenses) Guideline

This method focuses on lifestyle and costs instead of salary.

If someone expects to spend $36,000 per year, they would aim for:

• $36,000 × 25 = $900,000

This rule is more personalized because it ties savings to expected spending—not income.

Most retirees don’t depend only on a 401(k). The survey found:

• 90% of Boomers

• 71% of Gen X

expect Social Security to cover a large share of their retirement income. Others use IRAs, taxable investments, rental units, part-time work, and pensions to fill the gap.

This mix means a $600,000 target may work for one household, while another may need double that amount.

How People in Their 60s Can Build Savings Faster Than They Expect

Even for people who feel behind, the early and mid-60s offer more flexibility than many realize. Several strategies can meaningfully raise retirement readiness in just a few years.

1. Catch-Up Contribution Limits Are Higher Than Ever

The IRS allows larger contributions for workers in their 60s. In 2025:

• Base 401(k) limit: $23,500

• Ages 60–63: up to $34,750

• Ages 64+: up to $31,000

Workers who maximize these contributions for even two or three years can add tens of thousands more to their savings—plus potential investment returns and tax advantages.

This is especially impactful for people who couldn’t save much in earlier decades due to student loans, childcare costs, or career interruptions.

2. Employer Benefits Are Often Underused

Financial planner Alexa Kane says many older workers still miss part of their employer match—even though it’s one of the simplest ways to increase savings.

• Some companies match 50% to 100% of contributions up to a certain limit.

• Many plans allow automatic annual increases to contribution percentages.

• HR departments often provide free financial guidance that employees overlook.

• Health Savings Accounts (HSAs), if available, can also be invested for retirement.

Kane’s biggest point: “Every dollar of match is money you don’t have to save yourself.”

3. Investment Mix Matters More Than People Realize

Many workers shift too quickly into conservative investments once they hit 60. While reducing risk is reasonable, doing it too aggressively can limit growth during the final earning years.

Key considerations:

• Keeping a reasonable mix of stocks may help balances grow faster.

• Target-date funds automatically adjust allocations but vary by provider.

• Rising life expectancy means portfolios may need to support 25–30 years of spending.

• An overly conservative portfolio may struggle to keep up with inflation.

For savers who feel behind, staying partly invested in growth assets for a few more years can make a meaningful difference.

4. Downsizing Before Retirement Can Create Immediate Savings

More than half of older adults expect to downsize in retirement. Doing it before retiring provides several advantages:

• Lower property taxes

• Reduced insurance costs

• Lower utilities

• Fewer maintenance expenses

• Potentially lower medical costs depending on region

• Access to transit-friendly or walkable areas

A move made 2–5 years before retirement can free up cash and reduce monthly bills, letting workers increase contributions without straining their budget.

Downsizing earlier also helps retirees avoid rushed decisions when health or finances force a move.

5. Professional Advisors Help People Avoid Costly Mistakes

Retirement planning is no longer just about investments. It involves taxes, healthcare, insurance, estate planning, and sometimes international rules.

Common late-stage questions advisors handle:

• Should I delay Social Security to age 70?

• Will Medicare be enough, or do I need supplemental plans?

• If I move to another state, how will taxes change?

• Can I live abroad part-time or full-time without tax complications?

• Should I pay off my mortgage before retiring?

• How do I structure withdrawals to reduce taxes?

According to Kane, many people interested in retiring overseas forget that they still have to file U.S. tax returns and meet each country’s residency rules, which can affect whether the move makes financial sense.

Without guidance, mistakes can become expensive.

The 2025 numbers show a sharp divide between high-balance accounts and the much smaller savings held by most Americans in their 60s. While many are entering retirement with less than they expected, late-career savers still have room to adjust through higher contribution limits, housing choices, and investment reviews. How much ground they can make up depends largely on when they plan to retire and how they manage the next few years.

Also Read: New 401(k) Rule 2026: High Earners Face Roth-Only Catch-Up

1. The recent drop flushed out fast money

Bitcoin’s latest fall wasn’t a slow decline — it was sharp and concentrated. Most of the selling came from newer buyers who entered during the rally and exited quickly once prices started slipping.

Data from major exchanges shows that:

• short-term traders handled most of the selling pressure

• long-term holders barely moved their coins

When this type of clean-out happens, price swings usually calm down in the weeks that follow. It doesn’t guarantee a rebound, but it often marks a point where fewer sellers remain.

Another detail:
In past years, Bitcoin has often stabilised or moved higher towards the end of the year because investors adjust portfolios before closing their books. That seasonal pattern is not a prediction, but it is part of why some investors are watching the current range.

2. The supply side looks tight after the halving

Earlier this year, Bitcoin’s mining reward was cut in half — an event known as the halving. This doesn’t grab headlines anymore, but it quietly changes daily supply.

Here’s what’s relevant now:

• fewer new coins enter the market each day

• miners have been selling less as revenue becomes more sensitive

• long-term holders have moved coins off exchanges, reducing liquid supply

When supply stays tight, even small increases in demand can move prices faster than expected. Investors who study Bitcoin’s structure pay close attention to this, because similar tight-supply periods in past cycles eventually led to new rallies — not immediately, but gradually as demand returned.

3. Bitcoin’s long-term behaviour matters to experienced investors

People who have been around Bitcoin for years do not look at one month of price action — they study longer cycles. And those cycles show a very specific pattern: deep corrections followed by multi-year recoveries.

Examples from the last decade:

• After the 2014 crash, Bitcoin recovered over the next two years.

• After the 2018 crash, Bitcoin began rising again in 2019 and accelerated in 2020.

• After the 2022 downturn, Bitcoin doubled through 2023.

None of these rebounds were quick or predictable, but they followed the same principle: long-term holders stayed put while supply on exchanges kept shrinking.

Today’s market looks similar. Exchange balances are near multi-year lows, which means fewer coins are available for trading. Investors who track these indicators see this as an important signal, not noise.

How investors are responding right now

Trading desks that follow Bitcoin closely say activity over the past two weeks shows a shift in behaviour. Volumes have thinned out on major exchanges, and most of the heavy selling earlier this month did not come from older wallets. That detail is important because long-held coins usually move only when confidence breaks in a major way — and that did not happen in this decline.

Spot ETF flows also show a mixed picture rather than a broad exit. Some issuers recorded outflows, but others posted small inflows on the same days, suggesting that capital did not leave the market entirely; it rotated between products. Analysts who track ETF behaviour say this pattern usually reflects caution, not capitulation.

On the mining side, reserves held by miners have remained stable since the halving. In past cycles, miners sold aggressively when market stress intensified. This time, their selling hasn’t spiked, which helps prevent additional downward pressure on the market.

These details don’t deliver a clear forecast, but they do highlight why some investors think the current period is different from earlier breakdowns. The market is quieter, but the structural signs that usually point to deeper trouble — miner stress, long-term wallets exiting, or broad ETF withdrawals — have not appeared so far.

Also Read: Bitcoin Could Reach $300,000 by 2030, According to New Research

One estimate getting attention right now puts Bitcoin near $300,000 by 2030. It sounds bold, but the reasoning behind it is actually very simple.

Bitcoin has a supply limit that never changes

Bitcoin will never have more than 21 million coins. That limit has been the same since it was created in 2009, and the network is designed so nobody can raise it. Most of the coins already exist, and the rest are released slowly.

Nothing about this supply rule shifts with demand.
Nothing about it changes with government policy.

That’s the foundation behind the long-term price predictions.

Meanwhile, the amount of traditional money keeps rising

Bitcoin’s supply stays the same, but the amount of regular money in the world keeps increasing.

Over the last 15 years:

• The combined money supply of the U.S., Europe, Japan and China grew 145%

• Governments borrowed more

• More money entered the system through stimulus and spending

This means more currency is chasing a limited number of Bitcoin units.
That simple imbalance is one of the main reasons people expect Bitcoin to rise over time.

Bitcoin won’t repeat its old gains, but higher levels are still possible

Bitcoin rose 416% between mid-November 2020 and Nov. 18 this year. That kind of jump is unlikely to happen again. Bitcoin is now traded by larger institutions, regulated in more regions, and part of broader financial markets.

But several things still support higher prices in the years ahead:

• New coin supply keeps shrinking through scheduled halving events

• More investment platforms and funds are offering Bitcoin products

• People in countries with unstable currencies continue using Bitcoin as a backup option

• Global money supply keeps rising, which benefits assets that don’t expand

Put together, these trends keep the long-term prediction alive.

What could influence Bitcoin before 2030

Here are the main events experts are watching:

• The next halving, which cuts the number of new coins entering the market

• New regulated Bitcoin ETFs

• Clearer rules in major countries

• More adoption in regions facing inflation or weak local currencies

Each of these affects demand, while supply stays fixed.

Where things stand now

Bitcoin remains volatile, and drops like the recent one are normal. But the long-term case is simple:
Bitcoin’s supply stays capped, while global money supply keeps growing.

If those conditions continue, a move toward higher levels — including the often-cited $300,000 target — is possible, even if the journey takes time and includes sharp swings.

Also Read: Bitcoin Posts Worst Monthly Performance Since 2022 After Large Liquidations and ETF Withdrawals

The Trump administration is preparing replacement tariff tools in case the Supreme Court blocks one of the president’s main trade authorities. Several agencies have reviewed alternate options that the White House could activate quickly if parts of its current tariff program are struck down, according to officials familiar with the discussions.

The Commerce Department and the Office of the U.S. Trade Representative have examined whether Section 301 or Section 122 of the Trade Act could serve as substitutes. Both give the president the ability to set duties without Congress, though neither offers the broad scope of the authority now under review by the court. Each carries limits that could slow the administration or lead to new legal challenges.

Trump continues to push for a favorable outcome and has urged the court to uphold tariffs he imposed by citing an economic emergency. But internal planning shows the administration is preparing for multiple outcomes after several justices questioned the reach of Trump’s authority during oral arguments earlier this month.

“We’re waiting for a decision. We hope it’s going to be good,” Trump said Wednesday. “If it’s not, we find ways.”

A White House spokesperson did not discuss internal planning but said the president intends to keep tariffs central to his trade approach.

What the Supreme Court Case Covers

The case focuses on Trump’s use of the International Emergency Economic Powers Act (IEEPA). The administration relied on the law to place tariffs on a wide range of countries and products, including duties tied to fentanyl-related enforcement and charges on imports from China, Canada, Mexico, and Brazil.

IEEPA-based tariffs make up more than half of the current effective tariff rate on U.S. imports, which stands at roughly 14.4%, according to estimates from Bloomberg Economics. Analysts there believe the administration would try to replace most of these duties if the court strikes them down.

The timeline for a ruling is uncertain. The justices could uphold the tariffs, reject them entirely, or narrow the scope of the president’s power. Any change could create fresh uncertainty for companies, importers, and trade partners.

Backup Measures Already Moving Forward

Some fallback tools are already active. The administration has opened a Section 301 investigation into Brazil and still has 301 duties on several Chinese products from Trump’s first term. These actions usually require a formal investigation, which slows the process but offers a clear legal path for new tariffs.

National Economic Council Director Kevin Hassett said the White House could turn to Section 301 or Section 122 if needed. Section 122 allows duties of up to 15% for a maximum of 150 days — a limit that senior aides have previously flagged as too restrictive for long-term use.

The administration has also used Section 232 to set tariffs on steel, aluminum, autos, and related goods. New investigations under 232 continued this year, drawing criticism from European officials who argue that expanding 232 coverage violates sector caps agreed to in the U.S.–EU trade arrangement.

Some former trade officials have suggested the increase in 232 activity may already reflect preparation for a possible court loss.

Legal Hurdles and Rebuilding Tariffs

Another option, Section 338 of the Tariff Act, has never been used. Trade lawyers say an attempt to rely on it would almost certainly trigger court challenges.

Even if the administration turns to these alternate laws, officials would still need to resolve difficult questions. For example, can Section 122 duties be stopped and restarted to extend the 150-day limit? Could new duties apply to past shipments to avoid refunding money collected under IEEPA? Trade specialists say those issues would likely be tested in court.

Scott Lincicome of the Cato Institute said a ruling against the administration could require the return of more than $88 billion in tariffs already collected, adding pressure to act quickly. “It would be a huge mess,” he said.

Deputy Chief of Staff James Blair said at a recent event that he believes the administration has a “50–50 chance, or better” of winning. But he said that if the court rules against Trump, the administration will attempt to re-create the tariff structure using other authorities.

“There are tools the president already has to put it back through a different means,” Blair said.

Also Read: Trump Tariffs Could Slash Wall Street Bonuses in 2025

AI has changed the tone of Wall Street. Investors see new tools, faster computing power, and higher demand for advanced chips. That vision created huge confidence. During most of the year, tech earnings only added fuel to the fire. But when stocks cooled in mid-November, it exposed a deeper concern: the rally might rest on expectations that grew too quickly.

Financial planners across the country say they feel the tension. Their phones ring more than usual, and many calls come from people who fear a sudden drop. Some savers want to lock profits. Others want guidance before making big decisions with retirement funds.

Stocks are high because expectations are high

Indexes normally rise over long stretches, but this time the jump looks heavy. The gap between stock prices and actual earnings widened fast. A key long-term valuation gauge sits near levels seen right before the dot-com crash. That number does not predict the exact moment of a downturn, but it signals that stocks trade at rich levels.

Why does this matter?
Because when prices climb far above real profits, company performance must be nearly perfect to keep the rally alive. Any slowdown — slower AI adoption, weaker chip demand, or a drop in consumer spending — can spark a sell-off.

Tech giants carry the market on their shoulders

A small cluster of companies — the biggest names in chips, cloud, and software — powered most of the market’s rise. Their products sit at the center of the AI boom, so traders poured money into them.

That creates a narrow market. When a few stocks carry most of the growth, the entire index becomes vulnerable. If even one of these giants reports weak numbers or guidance, the impact spreads across the market.

This pattern mirrors earlier cycles when one sector dominated — telecom in the late ’90s, housing in the mid-2000s, and clean energy during smaller booms. When a story drives the market, disappointment hits harder.

Investors are quietly moving toward cash

While stocks grabbed headlines, the real shift happened in money market funds. Trillions now sit in short-term holdings. High yields, low risk, and market anxiety pulled investors toward cash at a pace rarely seen.

This shift shows that many people want safety without leaving the financial system. Cash yields offer comfort during uncertain times.

Yet financial planners warn that moving everything into cash rarely works. Markets often drop fast but recover even faster. History shows that rebounds pack huge gains into a few unpredictable days. Missing those days can shrink long-term returns.

Cash helps only when you use it with discipline

Keeping a cash reserve is not a defensive escape. It is a tool that works when you use it with intention.

Older savers need larger reserves so they can cover expenses without selling stocks during a downturn. Even a short dip can hurt retirement portfolios if withdrawals happen at the wrong time.

Younger investors hold a different advantage. They can keep a smaller reserve and use it during market drops. Buying strong stocks at cheaper levels builds long-term strength. Even if they cannot hold extra cash, raising monthly retirement contributions during a downturn captures lower prices automatically.

Think of cash not as a hiding place but as dry powder — something you hold so that you can act when others panic.

How the next few months could play out

The market entered a phase where every new data point matters. Traders study earnings calls, chip orders, cloud spending, and hiring trends with more focus than earlier in the year. AI remains at the center of that attention, but investors now want proof that companies can convert big promises into steady revenue.

If firms show slower demand or softer guidance, the mood can turn quickly. The recent pick-up in volatility reflects that tension. Strong quarterly results no longer guarantee smooth trading. Investors want confirmation that today’s high valuations match tomorrow’s cash flow, not just long-term hopes.

This tug-of-war between excitement and worry will shape the weeks ahead. Buyers still believe in the long runway of AI. Sellers worry that the market climbed too fast and gave too much credit to future growth.

What investors should focus on right now

Sharp reactions in the market will tempt many savers to overreact. That often leads to decisions driven by fear or hype — cutting exposure too early or jumping in with too much confidence.

Investors who handle this environment well usually follow a simple rhythm. They stay invested, keep their mix of stocks and cash steady, and add extra funds only when it fits their budget. They use cash as a tool, not an escape. They cut noise and rely on their long-term plan rather than headlines.

The goal is not to predict every swing. The goal is to stay in a position where market dips create openings instead of problems.

Also Read: Stocks Fall After Early Rally Despite Strong Nvidia Earnings and Solid Jobs Report

With Bitcoin down roughly 23% in November, the scale of the drop is drawing comparisons to June 2022, when the collapse of TerraUSD set off failures across crypto lenders, hedge funds, and eventually FTX. Although the current decline is not tied to a single corporate breakdown, market structure weaknesses — especially the amount of leverage built up over the past several weeks — are playing a major role.

Much of the recent downturn can be traced to activity that unfolded on Oct. 10, when Bitcoin’s price pulled back enough to trigger automatic closures of highly leveraged positions on major derivatives platforms. That single day erased roughly $19 billion in leveraged bets and removed about $1.5 trillion from the combined value of digital assets. Forced closures tend to accelerate declines because traders have no control over the timing or size of the exit; the system liquidates positions at market prices, producing rapid and sometimes disorderly moves.

The pressure didn’t stop after the October event. Data from CoinGlass shows that an additional $2 billion in leveraged positions were wiped out in the past 24 hours, confirming that traders had continued to hold substantial exposure even after earlier losses. As more positions are forced out, liquidity thins and price moves become larger because fewer buyers are willing to absorb heavy selling.

Institutional participation has also shifted noticeably. A group of twelve U.S.-listed Bitcoin ETFs recorded $903 millionin outflows on Thursday — the second-largest single-day withdrawal since the funds began trading in January 2024. Large investors typically add positions during deep pullbacks if they expect a rebound. Their absence this time suggests that many are waiting for clarity before committing capital. Open interest in perpetual futures, another gauge of market engagement, has dropped 35% from its October high of $94 billion, indicating that active traders are stepping back rather than attempting to buy weakness.

Movements in U.S. equities have added an additional layer of influence. Stocks that rallied earlier in the week after Nvidia’s earnings later lost steam as investors questioned whether valuations had extended too far. Those swings made traders more cautious in assets that depend heavily on liquidity — and crypto is typically one of the first places where risk exposure is reduced during periods of uncertainty. As a result, fewer market participants were willing to counter forced sales coming from leveraged accounts.

Some fund managers believe the pattern of trading suggests that a large holder, or a small group of holders, is reducing exposure across multiple sessions. This kind of steady, measured selling can weigh on prices even without large public announcements.
“There is consistent unloading from one source, and the size indicates it is unlikely to be retail activity,” said Pratik Kala, portfolio manager at Apollo Crypto. He added that the absence of strong buy-side support makes each sale more impactful because fewer traders are willing to take the opposite side of the trade.

Another point of attention is Strategy Inc., the company associated with Michael Saylor’s long-standing Bitcoin purchases. The firm has used borrowed capital to build a sizable position in Bitcoin over several years. Extended price declines can increase scrutiny on those holdings because lenders typically require additional collateral if asset values fall below certain thresholds. Strategy Inc.’s shares dropped 5% on Thursday, prompting questions about whether traders are testing levels that could put pressure on leveraged positions.

Bitcoin is now more than 30% below its record high from early October. Trading activity has decreased, leveraged exposure has thinned, and institutional flows remain negative. When these factors occur together, price moves tend to become more volatile because the market has less depth and fewer high-volume participants willing to stabilize trading.

Recent price movements have been shaped mainly by the forced closure of leveraged positions and continued withdrawals from Bitcoin ETFs. With fewer large buyers stepping in, each wave of selling has had a stronger effect on price. Until liquidation activity slows and ETF flows stabilize, price levels are likely to respond sharply to even moderate selling because trading volumes are thinner than earlier in the year.

Also Read: Bitcoin Crashes to $89,500 — Lowest Price Since April Shocks Markets

Tesla can now test its robotaxis on public roads in Nevada after the state accepted the company’s required self-certification filing. The approval gives Tesla permission to run autonomous vehicles in supervised testing on Nevada streets.
This does not allow the company to charge for rides yet. For commercial service, Tesla must receive a separate decision from the Nevada Transportation Authority, which has not said when that review will be finished.

The approval is important for Tesla because Nevada is one of the few states that already hosts large-scale testing by autonomous vehicle companies. Major routes in and around Las Vegas are frequently used by tech and transportation firms to validate highway and urban self-driving systems, making the state a strategic testing location. Industry analysts say Nevada’s infrastructure, climate, traffic variability, and long stretches of open highway allow companies to gather data far more quickly than in dense coastal cities.

Tesla already operates its robotaxi service in San Francisco and Austin. In both cities, the company is using specially configured vehicles equipped with its Full Self-Driving software and operational support teams that monitor deployment. Hiring data shows Tesla is preparing to replicate that structure in other regions. The company has posted job openings in Las Vegas, Dallas, Houston, Tampa and Orlando, with positions covering vehicle operations, customer support, local fleet maintenance, and incident response. These openings indicate Tesla is building local teams ahead of each city’s launch rather than operating the service entirely from California or Texas.

During Tesla’s October earnings call, CEO Elon Musk said the company expects to operate autonomous ride-hailing services in Nevada, Florida, and Arizona by the end of the year. Musk estimated that Tesla’s fleet for these markets will exceed 1,000 robotaxis, though he did not specify how many would be allocated to each state. Tesla has not disclosed whether it will roll out the service in stages or begin full operations once regulators approve commercial use.

Earlier this week, Arizona’s Department of Transportation granted Tesla permission to offer ride-hailing services in that state. Officials also confirmed that Tesla filed a separate testing certification that allows autonomous vehicles to operate on public roads with safety drivers. Arizona has become one of the more accessible states for companies seeking to deploy autonomous systems, and several firms — including Waymo and Cruise — have used its regulatory structure to run early-stage commercial programs.

Competition is intensifying nationwide, especially in California. State regulators are updating rules for autonomous ride-hailing, and companies are pushing for different approaches. Waymo, which operates driverless services in San Francisco and Los Angeles, has recommended that companies offering rides be required to submit quarterly operational reports showing ride volumes, service issues, and other data. Tesla has argued against this requirement, saying such reports would create inconsistent expectations across operators and could be interpreted in misleading ways if companies use different measurement standards.

Meanwhile, Amazon’s Zoox has begun offering free robotaxi rides to select users in San Francisco, introducing another competitor in a state already crowded with autonomous vehicle programs. The growing number of operators has also increased pressure on state officials to create rules that balance safety oversight with the ability to scale new services.

Tesla’s stock slipped about 2% on Thursday, though it remains more than 15% higher than a year ago. Investors have been watching each regulatory approval closely because the robotaxi business is one of Tesla’s most important long-term projects. Although the Nevada testing approval does not allow Tesla to operate commercially yet, it removes one of the required steps before the company can launch the service in a major tourist and transportation hub.

Also Read: Tesla Faces Federal Scrutiny for Delayed Self-Driving Crash Reporting

Oil prices fell on Thursday after Ukrainian President Volodymyr Zelenskiy said he would review a draft peace plan prepared with input from the US and Russia.

West Texas Intermediate dropped as much as 1%, moving below $59 a barrel, shortly after Zelenskiy spoke in Kyiv following a meeting with senior US military officials.

Traders said a credible peace framework could eventually open the door to the removal of sanctions on Russian crude. Russia is the world’s third-largest oil producer, and any return of its restricted barrels would add to supplies at a time when the market is already facing the prospect of a surplus. Output from OPEC+ members and several non-OPEC producers has been rising, and crude is on track for a yearly decline.

The renewed diplomatic activity comes just hours before new US sanctions targeting Rosneft PJSC and Lukoil PJSC, Russia’s two biggest oil companies, are scheduled to take effect.

Peace Deal Still Uncertain

Despite the movement around negotiations, a breakthrough remains unclear.
According to a person familiar with the talks, the US has urged Zelenskiy to consider the draft plan, which includes conditions that mirror long-standing Russian demands. Kyiv has repeatedly rejected those terms, saying they go beyond what Ukraine is willing to concede.

Rachel Ziemba, an adjunct senior fellow at the Center for a New American Security, said Ukraine continues to show willingness to discuss an end to the war, but Russia’s intentions remain uncertain.
“It is unclear whether Russia wants to end the fighting or is looking for more time before harsher sanctions take effect,” she said.

Market Reaction Before Sanctions Deadline

Earlier on Thursday, crude prices briefly moved higher as traders prepared for the impact of the incoming sanctions. Those restrictions have already disrupted some trade flows, especially shipments heading to India, and forced Lukoil to look for buyers for several of its foreign operations.

The market is now watching both the sanctions deadline and any developments tied to the peace discussions, with traders assessing how each could shape global supply in the coming weeks.

Also Read: Oil Prices Climb Amid Reports India May Reduce Russian Crude Purchases

By midday, the Dow Jones Industrial Average was down roughly 60 points, or 0.1%, the S&P 500 slipped 0.2%, and the Nasdaq Composite declined 0.3%.
These declines erased a strong start to the session, when all three major indexes moved sharply higher on the back of tech earnings and solid economic data.

Earlier in the morning, the Dow had been up 1.2%, the S&P 500 gained 1.8%, and the Nasdaq jumped 2.5%, reflecting initial enthusiasm around Nvidia’s performance and the stronger labor market reading.

Nvidia’s Blockbuster Earnings Lose Momentum After Early Surge

Shares of Nvidia, now one of the most valuable companies in the world with a market cap near $4.7 trillion, slipped 0.1% by midday.
This came after the stock rallied early in the session following a quarterly report that once again topped expectations.

Nvidia’s numbers temporarily eased concerns about whether AI-linked stocks had risen too far, too quickly. In recent days, some investors warned that the rapid run-up in AI chip and infrastructure names resembled a speculative bubble. Nvidia’s results pushed back against those fears in the short term, showing continued demand for its high-end chips used in AI training and data-center systems.

Even with the midday pullback, the company remains one of the primary contributors to 2025’s market performance:

• S&P 500 up 15% this year

• Dow up 10%

• Nasdaq up 19%

Much of this strength has been tied to companies whose products are central to AI computing.

September Jobs Report Provides a Lift — With One Warning Sign

Thursday’s rally was also fueled by a new hiring report showing far stronger job creation than economists expected.

The U.S. added 119,000 jobs in September, according to the Bureau of Labor Statistics.
This reading is above both the consensus forecast and the average pace of gains seen earlier this year.

But the improvement came with a notable revision:
August’s initial estimate of 22,000 jobs gained was corrected to 4,000 jobs lost.
The updated figure highlights how uneven the labor market has been in recent months, even with September’s rebound.

Hiring had slowed through much of the summer, raising concern that employers were cutting back as inflation remained stubborn and borrowing costs stayed high. Thursday’s report offered a partial counterweight to those worries.

Walmart’s Results Show Consumers Still Spending

Walmart reported quarterly revenue that came in above expectations on Thursday. The company said it saw steady store traffic and continued growth in online orders.
Traders said the report suggested that many households are still spending on everyday items, even with prices higher than a year ago.

Walmart’s results helped counter concerns that buyers had begun cutting back sharply in recent months. The company’s update was viewed as one of the few clear readings on how consumers handled higher costs heading into the fall.

Fed and Inflation Update

Inflation has increased in recent months while hiring slowed, creating a combination that economists say could strain both households and businesses. Some analysts have described the risk as a version of “stagflation,” where prices rise while economic activity softens.

The Federal Reserve has responded to this uncertainty by cutting interest rates by a quarter point at each of its last two meetings.
Those cuts were linked to signs of weakening hiring earlier in the year.

Thursday’s economic data influenced expectations for the central bank’s next decision:

• Odds of a quarter-point cut next month rose from 33% on Wednesday

• to 43% on Thursday morning, according to the CME FedWatch Tool

This shift suggested that investors saw the new data — both hiring and earnings — as potentially giving the Fed more room to ease policy.

Midday Drop After Strong Start

Stocks turned lower even after a strong opening, and traders pointed to specific developments during the session that shifted momentum.

Tech stocks lost early strength

Nvidia’s surge cooled as the morning progressed, pulling several large tech names down with it. The pullback erased much of the early jump in the Nasdaq, which had gained more than 2% at the open.

Revised labor numbers added caution

While September hiring was strong, the sharp downward revision to August raised concerns about how steady the job market actually is. Some traders said the revision limited the boost normally expected from a strong monthly report.

Inflation worries remained in focus

Recent inflation readings continued to weigh on the market. Investors said the combination of higher prices and the earlier revision to August jobs made the morning optimism hard to sustain.

Interest-rate expectations shifted through the day

Rate-cut expectations ticked higher after the jobs report, but traders said uncertainty about the Federal Reserve’s next move kept buyers from holding early gains. The view that the Fed could still wait for more data led some investors to step back from the morning rally.

Afternoon Trading Lost Early Strength

Stocks weakened in the afternoon after losing the lift they had received from Nvidia and the morning jobs data. Nvidia’s early jump faded through the session, and several other large tech stocks followed the same pattern, pulling the Nasdaq and S&P 500 lower.

The revised August hiring figures also drew attention once they circulated more widely during the day. The update showed a loss rather than a gain for that month, which led some investors to re-evaluate the strength of the earlier jobs reading.

Bond yields rose slightly in the early afternoon, which added pressure on portions of the market that had rallied in the morning. Some investors said the move made short-term trades less attractive and contributed to the pullback in equities.

Market activity now depends on the next round of government data, including updated inflation numbers due next week, which will influence how investors position themselves ahead of the Federal Reserve’s next meeting.

Also Read: Pine Labs Debuts Strong on NSE With Shares Opening at ₹242

Marvell has been active in India for many years and currently employs around 1,700 engineers across three cities. According to Navin Bishnoi, who leads the company’s operations in the country, Marvell intends to increase that number by about 15% each year for the next three years. While he did not provide details on the size of the increased research budget, he said the company will assign more technical programs to its India teams.

The hiring plan comes during a period when companies worldwide are building more data centers to support AI training and inference. These systems rely on advanced chips for networking, storage, data movement, and security — areas in which Marvell specializes.

How Marvell Uses Its India Teams

Marvell operates three main centers in India, each with a specific set of responsibilities:

Bengaluru (India Headquarters)

This is the company’s largest India facility. Engineers here work on chip design, hardware validation, system software, and product integration. Projects handled in Bengaluru often involve long-term development cycles and cross-team coordination with Marvell groups in the U.S. and Asia.

Hyderabad (Security Engineering)

The Hyderabad office focuses on security solutions for servers and data centers. This includes encryption modules, data protection features, secure boot systems, and internal tools that help cloud providers maintain hardware reliability and safeguard information.

Pune (Embedded Development)

The Pune team works on embedded software and firmware used in networking and storage hardware. This includes routing technologies, storage controllers, NIC firmware, and link-level performance tuning — essential components for large AI data center setups.

Bishnoi said India’s teams have grown in technical depth over the years, and more product categories are now handled locally. He added that Marvell expects India engineers to take on a larger share of design work for chips used in AI servers and high-speed network systems.

Why India Has Become More Important for Marvell

Although India currently contributes a small portion of Marvell’s total revenue, Bishnoi said this is likely to change as:

• more global cloud companies build data centers in India,

• local enterprises adopt AI hardware for internal workloads,

• new data protection rules require storage and processing within the country, and

• Indian companies modernize their networks for higher throughput.

“India has become one of the top regions for new data center capacity,” Bishnoi said. He added that Marvell is currently in discussions with global cloud providers and several Indian companies to supply hardware for new AI-related projects.

Growing interest in AI tools, along with the need for reliable data movement and storage, has increased demand for chips that support high bandwidth and low latency. Marvell provides components used in switches, optical modules, servers, and security appliances — all of which are required in AI data centers.

Interaction With Local OSAT Providers

Marvell is a fabless semiconductor company. It designs chips internally but uses external foundries, assembly firms, and testing companies for manufacturing.

Bishnoi said Marvell is speaking with several Indian OSAT providers (outsourced semiconductor assembly and test companies) about future cooperation. These firms package and test chips after fabrication, a crucial step that affects performance, reliability, and time-to-market.

India has seen new OSAT projects announced under government financial programs. While these facilities are still in early stages, Marvell wants to understand how it can work with such companies once they begin full operations. Bishnoi said the talks are intended to align long-term plans rather than establish immediate manufacturing activity in the country.

India’s Semiconductor Ambitions and Marvell’s Position

India has announced a $10 billion program to encourage semiconductor production, with a focus on assembly, testing, design centers, and eventual fabrication. Several OSAT facilities and joint ventures are already under construction or undergoing approval.

Although India does not yet have a large-scale fabrication plant, the government wants to build domestic capacity for chip packaging and testing, which are essential for AI and data-center hardware.

Marvell’s engineering presence aligns with these developments because:

• its India teams already contribute to advanced chip design,

• local OSAT firms will eventually need design collaboration,

• more data centers in India require locally optimized networking hardware, and

• the country is becoming a preferred location for hardware design talent.

Bishnoi said India may not be one of Marvell’s fastest-growing revenue markets within the next five years. However, he expects India’s long-term prospects to be strong, particularly as domestic companies increase hardware spending.
“Ten years from now, yes,” he said, referring to India’s potential to become a larger source of revenue.

AI Growth Has Created New Opportunities for Marvell

AI training and inference require very high bandwidth between servers, GPUs, and storage. This has increased demand for:

• optical modules,

• high-speed Ethernet chips,

• storage acceleration products,

• data center security systems, and

• embedded controllers that manage internal traffic.

Bishnoi said Marvell’s India teams are involved in these areas and will take on more work as the company expands. He noted that India’s engineers have contributed to products used in recent AI server generations and that additional work will be assigned to India as staffing grows.

Hiring Plans and Talent Availability

Marvell plans to add new engineers gradually rather than through rapid hiring, according to Bishnoi.
He said India continues to offer a strong talent pipeline, especially in chip design, embedded systems, high-speed networking, and firmware — fields that match Marvell’s product lines.

Hiring will be distributed between the company’s three main centers, with Bengaluru receiving the largest share due to its existing scale and the availability of senior engineers.

Also Read: Adobe to Acquire Semrush for $1.9 Billion in Cash

M&M Custard, based in Kansas, submitted its petition on Nov. 14.
In an affidavit, co-founder and CEO Eric Cole said the company expects to stabilize now that its Chicago locations—described as consistent money-losing units—are no longer part of the business.

Court documents list assets of $5.2 million and liabilities of up to $27.65 million, with more than 100 creditorsincluded in the case.

M&M Custard, which opened its first Freddy’s franchise in 2012, operated 42 locations before the closures. Cole confirmed on Nov. 19 that the remaining 31 restaurants across six states will continue to operate.

Withdrawal From the Chicago Region

The franchisee entered the Chicago market in 2021, acquiring three locations after being approached by Freddy’s about developing the area.
By early 2024, the group operated 11 stores in the region.

Cole wrote that the Chicago units created ongoing losses while the company’s longstanding stores elsewhere remained profitable. He said the business effectively split into two separate operations:

• a group of older stores with stable earnings, and

• the Chicago locations, which added financial pressure.

In the filing, Cole pointed to sustained losses, the absence of buyers willing to acquire the underperforming stores, and regulatory and tax conditions in Illinois as issues that made continued operations in the region unworkable.

Locations began closing in March 2024, and the last Chicago store closed in October 2025.

Response From Freddy’s Corporate

Freddy’s said the bankruptcy applies only to this franchise group and does not involve the company’s broader system or other operators.
In a statement, the company said it is working with M&M Custard so that customers and employees see “little to no interruption” while the case moves through the court process.

Freddy’s also stressed that the filing does not signal wider strain across the brand.

Industry reporting earlier this year shows that Freddy’s posted 6.8% sales growth in 2024, outpacing many other burger chains.

Status of the Remaining Stores

M&M Custard told the court that all 31 of its other locations will stay open while the bankruptcy case moves ahead.
The company said the Chicago closures removed the stores that were draining cash, allowing the rest of the restaurants to continue operating under normal hours.

The filing gives the franchisee time to sort out its debts while continuing to run the restaurants it kept.
In its court statements, the company said the remaining stores are stable and did not require any closures as part of the petition.

Also Read: Treasury Secretary Scott Bessent Says Trump’s $2,000 Tariff Payments Need Congressional Approval

Adobe stated it will pay $12 per share, nearly twice Semrush’s closing price of $6.89 on Tuesday. Semrush’s market value at the close of trading that day was roughly $1 billion.

The acquisition gives Adobe a direct entry into the fast-growing area of content visibility for AI-driven browsing and information tools. As more users turn to AI chatbots and assistants for product searches, news lookups, shopping, and travel planning, companies are increasing their spending on tools that help websites appear inside AI-generated responses.

Adobe said its internal analytics show this shift is already underway. According to Adobe Analytics, traffic from AI chatbots to retail websites in October was 1,200% higher than the same month last year.

Semrush has been building tools aimed at what it calls “generative engine optimization,” a set of methods designed to improve visibility inside AI assistants such as ChatGPT, Claude, Copilot, Grok, and Perplexity. The company recently introduced a tracking system that evaluates website performance across both traditional SEO and AI-based discovery.

Anil Chakravarthy, president of Adobe’s Digital Experience Business, said the addition of Semrush will give companies a way to strengthen their presence across both search and AI-driven channels. He said brands that ignore the shift risk losing reach and sales as user habits move toward AI-powered tools.

The acquisition brings Semrush’s search and AI-discovery tools into Adobe’s marketing lineup. With Semrush folded in, Adobe will be able to offer companies a single place to manage content performance across both traditional search engines and AI assistants, alongside the analytics and customer tools it already provides.

Also Read: Adobe Launches Firefly AI App for iOS & Android with Major New Partnerships

Kraken has filed confidential paperwork with US regulators to begin the process of becoming a publicly traded company. The filing came on Wednesday, only hours after the cryptocurrency exchange announced an $800 million fundraising round that placed its valuation at $20 billion.

According to the company, a draft S-1 registration was submitted to the US Securities and Exchange Commission. The S-1 is the required document for companies planning to list shares on a US exchange. Kraken said it has not yet decided the number of shares it will offer or the price range for the planned sale.

The exchange’s path toward a public listing has been closely watched this year. In March, the SEC—under the Trump administration—ended its lawsuit against Kraken over its staking program. The withdrawal of that case removed a major barrier that had raised questions about Kraken’s ability to advance toward a public offering.

Funding Round Sets New Valuation

Talk of a large capital raise around Kraken had been circulating for months as the exchange prepared for a possible listing.
That expectation became concrete on Tuesday, when the company announced an $800 million round backed by well-known financial groups, including Citadel, the firm led by Ken Griffin.

The new round set Kraken’s valuation at $20 billion, giving the company a sizable financial base ahead of its first public filing. The capital gives Kraken room to scale its trading, custody, and compliance infrastructure at a time when exchanges face tighter oversight and higher operational demands.

Kraken has been active since 2011 and is one of the oldest US-based crypto trading platforms. An IPO from the company would be the largest public debut by a crypto exchange since Coinbase listed in 2021 and would mark a rare entry of a digital asset firm into the traditional markets after a period of reduced investor appetite.

Also Read: Kraken Launches Krak App for Global Peer-to-Peer Crypto and Fiat Transfers

The trial concluded in late May, and the judge issued his decision on Tuesday. The outcome contrasts with two recent federal rulings that found Google responsible for illegal conduct in search and digital advertising.

Judge Says FTC Failed to Prove Current Power

In his written order, Boasberg said the FTC built its arguments around older market conditions and older competitors.
He noted that the agency continued to describe Meta’s position as if the market had not changed since the early 2010s.

Boasberg wrote that even if Meta held a dominant position in the past, the FTC had to show that the company still holds that position now. The court concluded that the agency did not meet this requirement.

The FTC relied on statements from 2008, including one attributed to Mark Zuckerberg saying it was better to buy rising companies than compete against them. The agency said Meta followed that approach by tracking young platforms and purchasing those it viewed as threats.

Zuckerberg Questioned About Old Emails

During his testimony in April, Zuckerberg was asked about emails written before and after the purchase of Instagram.
He said the notes were written early in the review process and did not reflect the full reasoning behind the deal.

Boasberg wrote that the case was not about reconsidering the Instagram or WhatsApp acquisitions the FTC approved years ago. Instead, prosecutors had to prove an ongoing violation. The court said that standard was not met.

The FTC also argued that Meta used internal rules to make it harder for smaller companies to enter the market. The court found the agency did not show that these rules created present-day harm.

Market Changed Faster Than the Case

Boasberg wrote that the social media market has changed repeatedly since the FTC filed the lawsuit in 2020.
Early versions of the case did not mention TikTok at all. Today, TikTok is one of Meta’s strongest competitors in video and user attention.

The judge noted that it is no longer possible to sort apps into narrow categories such as “social networking” and “social media,” because features overlap and user behavior shifts from year to year.

Meta Welcomes the Ruling

Meta said the decision reflects the level of competition it faces.
Jennifer Newstead, the company’s chief legal officer, said Meta will continue investing in the United States and working with federal officials.

Industry analysts also said the ruling was expected. Minda Smiley of Emarketer said Meta has changed its products many times to keep pace with TikTok, especially in short-form video.

Also Read: EU Hits Apple & Meta with Over €700M in Fines for Breaking Digital Competition Rules

Today, anyone using a self-custody wallet must share long, chain-specific addresses that are easy to mix up. Mastercard’s new model replaces that process with a single, readable alias that points to the correct wallet.
The wallet itself does not change — users keep full control of their keys — but the receiving experience becomes simpler and less error-prone.

How Alias Registration Works

To use the new feature, a user first completes an identity check through Mercuryo.
Once that step is finished, Mercuryo creates a short alias for the user and links it to the wallet the user chooses.

This alias then serves as the receiving address. Anyone sending crypto only needs the alias, and the transfer is delivered to the correct wallet without requiring the full wallet string.

How Wallets Detect Alias Support

Polygon stores the information that connects the alias to the verified wallet.
After a user completes verification, the wallet can receive a small credential token that tells supported apps the wallet can use alias-based receiving.

The token stays inside the wallet, cannot be traded, and is not used for anything other than confirming that the wallet has been verified for this feature.

How Transfers Are Checked

Mastercard provides the rules that wallet apps use to confirm:

• whether the alias belongs to a verified person

• whether the wallet is on the correct network

• whether any required checks need to be applied before the transfer

Alias-based receiving is available first. Sending to an alias will be introduced after more testing with wallet providers.

Raj Dhamodharan, who leads Mastercard’s blockchain and digital-asset unit, said the goal is to reduce mistakes caused by copying long addresses and to provide clearer information to users sending funds.

Why Self-Custody Wallets Benefit From Aliases

People who use self-custody wallets face common issues:

• mixing up addresses from different chains

• pasting the wrong address from a previous transaction

• entering characters incorrectly

• handling multiple wallets across different apps

A single alias removes many of these risks.
The alias points to the correct wallet, and apps can check the verification token before completing a transfer.

How Developers Benefit

Most wallet apps build their own way of checking whether a receiving address is valid or compatible.
With Mastercard’s alias system, the wallet contains a small credential token on Polygon that confirms the address belongs to a verified user and can receive transfers through the alias feature.

This gives developers a straightforward signal to rely on and helps prevent common problems—such as sending funds to a network the receiving wallet doesn’t support or transferring to an unverified address.

Upcoming changes to the alias feature

Mastercard plans to let additional verification companies take part in the alias system, giving users more than one option for completing identity checks.
The company is also preparing alias support for more blockchains beyond Polygon so the feature can be used across a wider range of wallets and networks.

These updates do not change how wallets themselves work. Users continue to hold their own keys, and the alias functions only as a readable label that points to the verified wallet.

Also Read: Mastercard Launches Stablecoin Payout Option Through Thunes Integration

• ● The US is preparing to approve exports of advanced AI chips for the Saudi AI firm Humain.
• ● The approval is part of an AI agreement discussed during Trump’s meeting with Crown Prince Mohammed bin Salman.
• ● The approval involves tens of thousands of AI chips.
• ● Humain is waiting for US permits to buy processors from Nvidia, AMD, Qualcomm, and Groq.
• ● Humain plans to deploy up to 400,000 AI chips by 2030 and build 6.6 gigawatts of computing capacity by 2034.

The United States is preparing to allow American chipmakers to sell advanced AI processors to Humain, Saudi Arabia’s state-backed artificial intelligence company. The decision is expected during Crown Prince Mohammed bin Salman’s visit to Washington for talks with President Donald Trump.

The upcoming approval is part of an agreement the two governments are finalizing on AI cooperation. Under this arrangement, the US will review a fixed number of export requests for Saudi Arabia with fewer delays, restoring access to hardware that has required special permission since 2023. The clearance will apply to shipments meant for Humain as well as to US firms building data centers in the kingdom.

President Trump confirmed that both sides are working on a chip-related deal, saying it will cover “certain levels of chips.” One official involved in the discussions said the number of processors under consideration is in the tens of thousands.

Treasury Secretary Scott Bessent later said Saudi Arabia would be linked with major US technology companies and that a Saudi startup would receive a smaller batch of chips to begin development. He did not name the companies involved.

A decision from Washington would open the door for major semiconductor producers, including Nvidia and AMD, to expand in the Gulf. Saudi Arabia has been spending heavily on AI infrastructure, making it one of the fastest-growing destinations for advanced computing hardware.

Humain has been waiting for export permits for processors from several US suppliers. The company says access to these chips is necessary for its large-scale AI systems and data-center plans.

The agreement comes after months of discussions between Washington and Riyadh regarding how the chips will be used and safeguarded. The US has restricted AI hardware sales to China since 2022 and added dozens of additional countries, including Saudi Arabia, to tighter control lists the following year. The US has kept those rules in place while working with Saudi Arabia on specific terms tied to technology security.

Saudi officials have publicly stated that the kingdom would adjust its partnerships if the US requested it. Humain has also pledged not to buy equipment from Huawei, which has been trying to secure AI chip customers in Saudi Arabia.

Humain was launched six months ago with the crown prince serving as chairman. Backed by the Public Investment Fund, the company is positioned as the main vehicle for the kingdom’s AI build-out. In October, Saudi Aramco signed a preliminary agreement to acquire a significant minority stake in the company.

During his White House meeting, the crown prince said artificial intelligence would play a central role in the country’s future economy. He said Saudi Arabia expects to spend around $50 billion on semiconductors in the near term. Humain plans to deploy as many as 400,000 AI chips by 2030.

The company has released an Arabic-language chatbot, an operating system, and several software tools. Its primary offering to US tech firms is access to low-cost power for large data centers. Humain has committed to building 6.6 gigawatts of computing capacity by 2034—an output large enough to match some of the biggest AI infrastructure projects planned worldwide.

Also Read: Saudi Arabia Partners with Nvidia to Build Massive AI Infrastructure as Trump Visits Gulf

Bitcoin had reached nearly $125,000 in early October, helped by strong trading activity and expectations that a crypto-friendly administration in Washington would set a more predictable policy environment for the industry. The current pullback marks a sharp reversal from those levels. By 10 a.m. ET, bitcoin was trading near $91,500, according to CoinDesk data.

The downturn has weighed on companies whose revenue is closely tied to digital-asset trading. Robinhood Markets, which earlier in the year benefited from a surge in cryptocurrency activity on its platform, has fallen 21% so far in November. Coinbase Global, one of the largest U.S. cryptocurrency exchanges, has dropped 23% over the same period as volumes cooled.

The weakness in crypto is occurring alongside declines in major global indexes. The S&P 500 is down almost 3% this month, Germany’s DAX has posted a similar loss, and Japan’s Nikkei has slid roughly 7%. Shares of Nvidia, whose rapid climb earlier in the year was tied to strong demand for AI-related hardware, are down 9% in November.

Recent trading data shows investors have been pulling back from assets that saw large run-ups earlier in the year. Cryptocurrencies, fast-rising tech stocks, and companies tied to AI have been among the areas where selling has been most concentrated in November.

Bitcoin’s drop below the $90,000 threshold places the cryptocurrency back near levels seen earlier in the spring, ending a nearly six-month stretch in which it held above that mark.

Also Read: Harvard Triples Its Bitcoin Investment With a $443M Position in BlackRock’s ETF

The launch comes while Solana trades near $137, about 27% lower than a month ago. According to Bitget chief analyst Ryan Lee, Solana could return to the $156–$160 range by late November if trading volumes recover across the network’s DeFi platforms, consumer-focused apps, and the ongoing activity in memecoins.

Fidelity’s entry adds another large firm to the list of issuers expanding their Solana offerings in 2025. The company manages roughly $7 trillion, placing it among the few global firms capable of moving significant capital into new ETF products.

The rollout follows the reopening of U.S. regulatory agencies after a 43-day government shutdown, which paused ETF approvals and other market actions. With the backlog now moving again, issuers that had been on hold have resumed their filings.

Another Solana-related ETF is also set to launch this week. Canary Capital plans to introduce its SOLC fund developed with Marinade Finance, including staking features from the outset. Canary recently gained attention when its XRP ETF drew nearly $250 million on its first trading day, the largest first-day inflow for any ETF this year.

Commenting on the growing number of Solana funds, StealthEx CEO Maria Carola said the new products place Solana in front of professional investors who previously focused mainly on Bitcoin and Ethereum.

One notable absence from the current round of filings is BlackRock. The firm, which oversees $12.5 trillion, dominates the U.S. Bitcoin and Ethereum ETF categories but has not yet shown interest in a Solana product. That leaves room for Fidelity, Bitwise, VanEck, and Grayscale to compete for early inflows.

Recent launches have produced mixed outcomes.

• Grayscale’s GSOL, converted from a trust to an ETF in October, brought in about $4 million on its first day.

• Bitwise’s BSOL performed better, gathering $129 million at launch.

At the time of writing, Solana remains far below the January 2025 high, reached during a surge in memecoin trading. Whether the new ETFs can close that gap will depend on trading activity in the coming weeks and the amount of capital that follows Fidelity and other issuers into these products.

Also Read: Paxos Says Dollar-Backed Tokens Will Lead Real-World Use

A company spokesperson said production at all three locations “continues to be affected,” adding that Bosch is concentrating on keeping customer delays as low as possible. The disruptions have led to reduced working hours and furlough measures across the affected sites.

The difficulties stem from an ongoing dispute over Nexperia, a Netherlands-based chip producer owned by China’s Wingtech. In late September, the Dutch government placed the company under temporary state control, citing concerns about sensitive technology falling under Chinese ownership. The decision triggered a response from the Chinese side, which restricted exports of Nexperia’s finished products.

Although Nexperia’s chips are relatively simple, they are widely used across automotive electronics and consumer devices. Their absence has created immediate strain for manufacturers like Bosch, which rely on stable, high-volume deliveries of these components.

With supply interruptions continuing, Bosch has been adjusting staffing levels on a daily basis. At its Salzgitter site, where roughly 1,300 people work, the company is using Germany’s state-supported furlough mechanism for around 300 to 400 employees. In Ansbach, approximately 650 of the 2,500 employees have been placed on temporary furlough.

The situation is even more severe at Bosch’s Portuguese facility in Braga. Out of 3,300 workers, about 2,500 are now either furloughed or working reduced hours due to shortages of Nexperia components.

Bosch said it is closely watching diplomatic efforts between China and the Netherlands, noting that early signs of dialogue have emerged. Senior officials from the Dutch economy ministry are expected to visit Beijing this week in an effort to ease tensions and explore a path toward restoring normal trade flows.

The company has not offered a timeline for when full production may resume, saying only that its teams are working to adjust operations as supply conditions change.

Also Read: Massive Outage Cuts Electricity to 94,000 in Wyoming and South Dakota

The investment is important because Berkshire Hathaway rarely expands its exposure to large technology companies. For years, the firm’s main tech holding has been Apple, a stake it has been gradually reducing. Adding Google while trimming Apple gives investors a clearer look at how Berkshire is reshaping its view of the sector.

Google’s recent financial results help explain the interest. The company has delivered steady revenue growth throughout the year, supported by its advertising business and ongoing expansion of Google Cloud. Unlike several companies tied closely to the AI boom, Google’s valuation has remained lower relative to its earnings, which has made the stock more appealing to investors who want exposure to AI without paying extreme prices.

The broader market context also played a role. Many major tech companies have faced questions about whether their AI spending will translate into durable profit. Several have seen sharp drops after missing revenue targets related to AI products. Google, however, avoided those setbacks in recent quarters. Its earnings, while not explosive, have been reliable enough for investors who prefer companies with proven cash flow over speculative AI bets.

Berkshire’s decision lands at a time when investors are looking for clearer signals about which companies can sustain growth as the AI race matures. Google’s combination of search advertising, its cloud platform, and its ongoing development of AI tools places it among a small group of companies with multiple revenue sources strong enough to support long-term investment.

Google’s stock has risen more than 50 percent this year, the best performance among the largest U.S. technology companies. Analysts say the gain is rooted less in hype and more in consistent execution and a business model that generates enough cash to support AI development without relying on large swings in future expectations.

While Berkshire’s new position does not alter Google’s strategy, it does carry weight among individual investors and large institutions. Berkshire is widely known for avoiding speculative trends, so its decision to add Google at this stage reinforces the view that the company remains well-positioned in a technology sector that has become more uneven and more scrutinized over the past year.

Also Read: Berkshire Hathaway Profit Jumps 17% Before Buffett Steps Down as CEO

Paxos says most of the attention around tokenizing assets has missed a central issue: the absence of a dependable digital dollar. The company argues that until the dollar itself can move natively on blockchain networks, attempts to put gold, property or other assets on-chain will run into the same settlement bottlenecks seen in traditional finance.

Ronak Daya, who oversees product at Paxos, outlined the company’s position in an interview with TheStreet Roundtable. He said many new tokenization projects assume that payments and collateral can move with the same speed as the digital asset itself, which is often not the case.

Dollar Tokens in Practice

A dollar token functions as a digital representation of one U.S. dollar and is redeemable at par. It is issued by a regulated firm and backed by cash and short-term U.S. government debt.
The appeal, Daya said, is that these tokens can move across blockchain networks without relying on the clearing schedules or cut-off times of the banking system.

That speed is being tested in several practical settings. Cross-border transfers that usually take a day or more can settle within minutes. Trading venues can move customer funds between platforms without the delays tied to ACH or bank wires. And firms that manage large volumes of transactions can reduce the time spent reconciling records across multiple systems.

Early Experiments at Paxos

Paxos entered the sector well before the current wave of tokenization projects.
The Pax Dollar, launched in 2018, offered a regulated way to move dollars on-chain. A year later, the company introduced Pax Gold, which represents ownership of vaulted gold rather than exposure to a commodity price.

The gold token, Daya said, proved that a high-value asset held in custody could be transferred digitally without altering how the underlying metal is stored. That work helped institutions understand how a tokenized instrument can coexist with traditional controls.

Since then, several firms have begun small pilot programs involving tokenized money-market funds and deposit products in regions where regulators have provided clear rules for on-chain financial instruments.

When Tokenization Adds Value

Daya said tokenization is most useful in markets where existing processes are slow or require several layers of intermediaries. International payments, settlement between trading venues, and transactions that depend on end-of-day reconciliation fall into that category.

In markets that already clear quickly or operate on modern infrastructure, he said, issuing a token does not meaningfully improve outcomes.

Conditions Needed for Broader Use

Daya added that creating a token is rarely the difficult part. The larger hurdle is building the operational framework that allows banks, brokers, custodians and payment firms to use the token inside their existing systems. Transfers must be recorded consistently, balances must be safeguarded, and regulators must be able to verify how the instrument is managed.

Until those steps are in place, he said, tokenized assets remain limited to controlled trials rather than large-scale commercial activity.

Why Paxos Centers Its Work on the Dollar

While several types of assets may eventually move to digital networks, Paxos believes the dollar must come first because it underpins most settlement flows. If the dollar cannot move at the same speed as the tokenized asset tied to it, the process ends up reverting to slower legacy rails.

Daya said a reliable on-chain dollar would provide a common settlement method for multiple tokenized instruments. Without it, each product must rely on its own workaround to complete transactions, reducing the benefit of using digital rails in the first place.

Also Read: Tether or Ripple USD: Which Stablecoin Is the Better Buy Right Now?

Amazon.com Inc. is preparing a U.S. dollar bond sale of about $12 billion, according to people familiar with the transaction. It would be the company’s first offering in the U.S. market since 2021.

The issue is expected to include several maturities. One of them is a 40-year note that early discussions place at roughly 115 basis points over Treasuries, the people said. Terms may change as books build.

Goldman Sachs, JPMorgan and Morgan Stanley are leading the sale. People briefed on the matter said Amazon has left the use of proceeds broad, covering possible acquisitions, investment needs and routine corporate purposes.

Large U.S. technology companies have been active in debt markets in recent weeks. Alphabet issued $25 billion earlier this month. Meta sold $30 billion in September, while Oracle raised $18 billion around the same time. Their deals have helped push global corporate issuance to record levels this year.

Banks expect more transactions as major tech companies continue to put money into data centers and hardware tied to artificial-intelligence services. JPMorgan has projected that U.S. investment-grade supply could touch $1.81 trillion next year.

Amazon’s own spending has increased sharply. People familiar with its capital program say the company has been adding new data-center sites, arranging long-term chip supply, and securing additional power capacity. These projects contributed to $34.2 billion in capital expenditures in the third quarter, up from a year earlier.

The company has been expanding its computing footprint since 2022. Chief Executive Andy Jassy recently said Amazon expects another significant increase by 2027 as new sites come online.

Amazon Web Services also signed a seven-year arrangement this month valued at about $38 billion to provide OpenAI with access to Nvidia processors. The agreement gives OpenAI reserved compute capacity during a period of tight chip availability.

People with knowledge of the bond sale said Amazon is moving now to lock in long-dated funding while conditions in the high-grade market remain stable. Final pricing is expected once investor orders are confirmed.

Also Read: Amazon Will Pay You Up to $51 — Claim Your Prime Refund Now

At a Kansas City Fed event, Jefferson said last month’s quarter-point reduction was appropriate given signs of slower hiring and modest improvement on inflation. He added that interest rates are still working as a restraint on the economy, but not as strongly as before.

“We are nearer to what many would consider a neutral setting,” Jefferson said. “When policy reaches that area, each move needs more attention, and the case for quick action becomes weaker.”

Jefferson said the Fed will review upcoming data closely but stressed that one cut does not automatically lead to another.

Different Views Inside the Fed

Jefferson’s remarks come at a time when officials inside the central bank hold different views on what should happen next. Some members want more confirmation that price increases are slowing before backing another cut. Others are concerned that keeping rates high could put more strain on hiring.

The discussion has been complicated by missing government data following the 43-day shutdown. Several economic reports were delayed, leaving the Fed without information it normally reviews before major decisions. Officials have said the gap in data makes it harder to judge how quickly conditions are shifting.

Limited Data Before the December Policy Meeting

Jefferson said it is still uncertain how much official data the Fed will have before its December 9–10 meeting. Some indicators, such as the monthly employment report for September, remain on track and will be published Thursday. But updated calendars for other releases—including inflation, spending, and manufacturing reports—have not been finalized, leaving open questions about what information will be available to policymakers.

Fed officials will have to balance those data gaps against recent shifts in the economy. Hiring has slowed compared with early-year levels, and wage gains have moderated. At the same time, goods prices have steadied and housing-related inflation has shown early signs of easing, though service-sector inflation remains persistent.

Fed Officials Assess Conditions With Partial Data

Jefferson said the upcoming months will be harder to evaluate because several key economic reports are still delayed. Without the usual set of indicators, he noted that policymakers will need to base decisions on a narrower view of the economy.

He said inflation has eased in recent months and hiring has cooled, but added that the Fed cannot rely on one month of data to guide its next move. Jefferson also cautioned that the rate cut approved last month should not be seen as the start of a fixed sequence.

“If the data we receive shows slower hiring or continued progress on prices, we will review that information carefully,” he said. “But with some reports still pending, it is important not to move faster than the facts allow.”

He said the discussion at the December 9–10 meeting will depend heavily on how much official information becomes available beforehand.

Also Read: Fed Rate Cut: How Credit Cards, Mortgages & Auto Loans Are Affected

That setback became far less damaging once the United States restricted China’s access to high-end semiconductors. The export limits created a shortage of advanced processors in China, and government agencies and major companies were guided to rely more heavily on domestic suppliers. Cambricon, which had struggled to compete with foreign chipmakers in the open market, suddenly found itself in a position where Chinese firms needed local alternatives.

Cambricon’s share price has risen sharply over the past two years. With roughly 28% ownership, founder Chen Tianshi’s net worth has climbed to about $22.5 billion. The increase puts him among the richest entrepreneurs of his age in China’s technology sector.

The company’s rapid rise has raised questions among analysts about how much of its success is tied to technology and how much comes from a shift in policy. Cambricon itself has cautioned investors in regulatory filings that U.S. restrictions continue to limit its access to certain tools and that expectations should remain realistic as the company works through technical challenges.

Reports in the local market have pointed to a new processor, the Siyuan 690, though it is generally understood that the chip remains behind the performance levels of leading global products. Cambricon has not provided detailed public timelines for when the processor will reach full commercial deployment.

Chen’s background traces back to China’s state-supported academic system. Born in 1985, he was admitted to a specialized student program at the University of Science and Technology of China and completed a doctorate in computer science. He and his brother later joined the Chinese Academy of Sciences, where their research on AI acceleration first gained attention. The chip design that became Cambricon was introduced during their work there and later spun off into the company founded in 2016.

The firm gained early recognition in 2017 when its technology appeared in one of Huawei’s smartphone models, but the cooperation ended two years later. Cambricon shifted its focus to chips for cloud servers and edge devices, a direction that later aligned with China’s push for domestic hardware.

Cambricon entered the STAR Market in Shanghai in 2020 and spent several quarters operating at a loss before achieving its first profitable period at the end of 2024.

The company was added to the U.S. entity list in 2022, restricting its access to certain American technologies. However, as Washington expanded its export rules to cover high-performance chips from global suppliers, Chinese firms began sourcing more components from local manufacturers. This change gave Cambricon a steady stream of new demand over the past year.

Competition within China has also increased. Several domestic chip companies are preparing for market listings and expanding their own product lines, creating a crowded field of local AI hardware developers. Even so, Cambricon remains one of the most visible names in the country’s semiconductor sector during a period of rapid change.

Also Read: Nvidia CEO Jensen Huang Says Company Won’t Sell Blackwell AI Chips in China

Key Points

Sakana AI has completed a ¥20 billion (around $135 million) Series B funding round, valuing the company at approximately $2.65 billion. CEO David Ha confirmed the figures, noting that the round reflects continued interest in Japan-based AI research at a time when the global industry remains dominated by U.S. companies such as OpenAI, Google and Anthropic. The round comes one year after the company’s previous fundraise and further establishes Sakana as one of Japan’s most heavily funded AI startups.

Company Background

The firm was set up in 2023 by former Google researchers Llion Jones, Ren Ito and David Ha. The three founders built the team with a clear goal: to create language models that handle Japanese sentence structure, tone and formal writing conventions with greater accuracy than foreign systems. Their approach uses smaller, well-curated datasets and model architectures built to run efficiently on limited compute, making the technology more accessible to Japanese enterprises that cannot deploy extremely large models.

Research Approach

Sakana focuses heavily on refining its models after the initial training stage. Much of the work involves adjusting how the system interprets vocabulary, honorifics, writing style and contextual cues unique to Japanese. This process allows the company to release versions adapted for business documentation, customer communication and internal workflows without needing to train massive new models each time.
This methodology also separates Sakana from U.S. model developers that prioritize scale above specialization.

Investor Participation

The funding round includes participation from Mitsubishi UFJ Financial Group (MUFG), one of Japan’s largest financial institutions. MUFG has been exploring domestic AI infrastructure to support internal automation projects.
International investors joined as well, including Khosla Ventures, Macquarie Capital, NEA, Lux Capital and In-Q-Tel (IQT). Their involvement indicates continued global interest in region-specific model development, particularly in countries where data regulations and language characteristics require localized solutions.

Use of Funds

The company will increase hiring across model development, evaluation, engineering and customer deployment teams.
Sakana is also expanding its commercial operations in Japan, where it has already worked with groups such as MUFG and Daiwa to design AI systems for document processing, internal communication review and structured data analysis.
Additional funds will be used to build internal datasets, strengthen testing pipelines and release updated versions of its Japan-tuned models.

Sector Expansion

The firm plans to widen its enterprise offerings in 2026 to include industrial automation, factory operations and public-sector environments. These sectors require precise language handling and strict data-handling controls—areas where Sakana believes its locally developed models can be used without major adaptation.
The company is also examining opportunities in national security-related work, including information analysis and specialized model deployment, though no formal programs have been announced.

Strategic Direction

Sakana is open to collaborations with Japanese corporations and may consider acquisitions if they support its model research or enterprise deployments. The company is also studying potential overseas markets where demand for national-language AI systems is increasing, particularly in regions with strict data laws or complex local writing systems.

Sovereign AI Positioning

Japanese companies, especially in finance, manufacturing and regulated industries, have shown rising interest in models built within Japan’s regulatory environment. Data residency requirements, linguistic accuracy and internal risk policies have made domestic model providers more appealing for organizations that previously depended on U.S. systems.
Sakana aims to supply models that meet these requirements without the extensive modifications typically needed when working with foreign LLMs.

Previous Funding

The company’s earlier Series A, completed about a year ago, raised close to ¥30 billion (roughly $214 million) and valued Sakana at about $1.5 billion. PitchBook data shows that Sakana had raised around $244 million by March 2025. With the new Series B, its total funding now stands near $379 million, placing it among the most well-capitalized AI developers in the Asia-Pacific region.

Also Read: Why Top YouTubers No Longer Depend on Ad Revenue — and How They are Building Real Businesses

• Bessent said Trump cannot move forward with the $2,000 tariff-funded payments without approval from Congress.
• Trump said the payments would be funded through tariff revenue and planned for release next year.
• A budget watchdog estimated the proposal would cost about $600 billion, far above expected tariff income.
• Bessent said inflation is expected to ease and household pressure to improve early next year.

Treasury Secretary Scott Bessent said President Donald Trump’s plan to send $2,000 payments funded by tariff revenue cannot proceed without action from Congress.

Speaking on Sunday, Bessent said the administration supports the idea but does not have the authority to issue the payments through executive power alone.
“We need legislation for that,” he said.

Trump has been promoting the plan as households continue to face pressure from high living costs. During a conversation with reporters aboard Air Force One on Friday, he said the payments would be issued next year to “everybody but the rich.” He called the checks a “dividend” drawn from tariff collections and said the same funds would help reduce the national debt.

Cost Estimate Far Exceeds Expected Tariff Revenue

Initial projections show a large gap between the cost of the proposal and the amount of tariff revenue expected next year.

The Committee for a Responsible Federal Budget estimated the proposal at roughly $600 billion, assuming it followed a design similar to past federal relief payments. That estimate is about twice the tariff revenue analysts expect the government to take in for 2026.

Tariffs brought in $195 billion during the fiscal year that ended in September. Forecasts point to around $300 billion for the next calendar year.

Bessent Says Relief Could Build in Early 2026

Bessent said households should begin to feel some financial improvement in the first half of 2026, citing tax changes enacted earlier this year.
He said the administration expects slower inflation and stronger income growth during that period.

“In the first two quarters we are going to see the inflation curve bend down and the real income curve substantially accelerate,” Bessent said.

Also Read: NYC Millionaires Not Expected to Leave Even With Mamdani’s New Tax Plan

Below is a closer look at how each one is built, where they fit in the crypto world, and the kind of user each one really suits.

Tether: The Most Used Dollar Token in Crypto

USDT has been around since 2014 and has grown into the dominant digital dollar across exchanges and trading platforms. Tether Limited, the company that issues it, originally launched USDT on the Bitcoin network and later expanded it to Ethereum and other chains. That early expansion is a major reason traders use it for moving money between exchanges and for activity in DeFi.

Tether’s growth also comes from convenience. It’s available on nearly every major blockchain, so users rarely worry about compatibility when moving funds around.

However, Tether’s backing has been debated for years. The company holds a mix of cash, U.S. Treasuries, and other short-term assets. It publishes reserve breakdowns, but it still hasn’t gone through a full independent audit — something critics often point out. This lack of full transparency hasn’t stopped its adoption, but it remains a topic that resurfaces regularly.

Ripple USD: A Newer Dollar Token With a Narrower Role

Ripple USD began in 2024 and was created specifically for the XRP Ledger. Unlike USDT, RLUSD isn’t issued by a single company. Instead, it is created as IOUs by different gateways — platforms like Bitstamp or GateHub — which hold real dollars in their accounts to back the tokens they distribute.

This structure is part of how the XRP Ledger was originally designed. Instead of one central issuer, value comes from gateways that users choose to trust. The method works well inside Ripple’s payment system, especially when institutions need to convert one currency into another quickly. RLUSD often acts as the middle step for these transfers.

But this model also has a trade-off: your risk depends on the gateway you selected. If a gateway mismanages its cash reserves, users holding its IOUs could lose funds. It’s similar to keeping money at a small financial institution that isn’t protected by insurance programs.

Because RLUSD lives mainly inside the XRP Ledger, it hasn’t spread across major blockchain ecosystems. Most traders outside Ripple’s network simply don’t have a reason to use it.

Which One Is the Better Buy?

RLUSD works well for institutions already tied to Ripple’s system, especially those that rely on the XRP Ledger for moving money between currencies. Its use is mostly limited to that environment.

USDT plays a far larger role in the broader crypto market. It moves across many blockchains, is supported by almost every major exchange, and is the stablecoin most traders handle daily. Because of that reach, USDT is the option that fits more buyers looking for a dollar token they can use anywhere.

Also Read: Litecoin, Solana and Chainlink Stand Out Among U.S. Crypto Coins This Week

Disney confirmed on Friday that the agreement reinstates its entire portfolio of networks — including ESPN, ABC, FX, Freeform, NatGeo, and several college sports channels — and that the return of programming has already begun.
YouTube TV said subscribers should see the channels reappear throughout the day, thanking users for their patience and acknowledging the inconvenience caused by the outage.

How the blackout began

The disruption started late on October 30, when Disney’s channels disappeared from YouTube TV after both companies failed to finalize a new contract.
The removal had an immediate impact on viewers: ESPN’s live sports coverage went dark, ABC affiliates dropped from the lineup, and multiple entertainment and documentary channels were no longer accessible.

This led to missed college football games, delayed access to news coverage, and gaps in primetime programming—an unusually long interruption for a major bundle of mainstream channels.

A public clash over pricing and terms

During the standoff, each side accused the other of being responsible for the breakdown.
YouTube TV argued that Disney pushed for higher fees that would ultimately fall on subscribers and reduce the platform’s flexibility in how it offered channel packages. The company also hinted that the blackout gave Disney an advantage by pushing viewers toward Hulu + Live TV and other Disney-owned services.

Disney countered that YouTube TV refused to agree to what it considered fair market pricing for its channels. The company also criticized Google for removing the channels before the previous agreement officially expired and claimed Google used its platform influence in ways that undermined competition.

Their disagreement spilled into the public sphere, with both companies issuing statements while viewers were left in the middle.

Channels return as both companies declare success

When the new agreement was announced, YouTube TV said the deal maintains the value of its service and preserves room for future adjustments.
Disney’s leadership — including Disney Entertainment co-chairs Alan Bergman and Dana Walden, and ESPN chairman Jimmy Pitaro — expressed relief that viewers would regain access ahead of a major weekend of college football and other live events.

Previous Contract Issues

Contract disputes have become increasingly common as live TV platforms and media companies renegotiate fees and rights in a crowded streaming market. Disney and YouTube TV previously clashed in 2021, but that dispute lasted just under two days.

YouTube TV has also been involved in other carriage conflicts. Its disagreement with TelevisaUnivision left Univision and related channels unavailable since September 30. TelevisaUnivision criticized the move, saying it cut off millions of Spanish-speaking viewers from essential programming.

Subscription pricing and alternatives

YouTube TV’s standard plan costs $82.99 per month, offering access to local broadcast networks and a range of live TV channels. The company previously said customers could request a $20 credit if the Disney blackout continued for an extended period; subscribers were able to begin requesting the credit on November 9.

Disney distributes live content through multiple platforms. ESPN launched a standalone streaming service earlier this year for $29.99 per month, while other content from the company is available through Hulu, Disney+, and Fubo. Disney also offers a bundle with ESPN, Hulu, and Disney+ starting at $35.99 per month, with promotional pricing available for new users.

Also Read: Disney Losing $4 Million Daily in YouTube TV Blackout Over ESPN and ABC

Harvard Management Company reported ownership of 6.8 million shares of the fund as of September 30. Three months earlier, the endowment held 1.9 million shares. Based on quarter-end pricing, the updated position came in at roughly $442.8 million.

Harvard’s endowment stands at $56.9 billion, so the allocation remains modest in percentage terms. However, it reflects a clear shift in how one of the largest academic investment funds in the world is positioning itself toward Bitcoin-related financial products.

Other universities recorded similar adjustments. Brown University disclosed a position in the same BlackRock vehicle, and Emory University increased its Bitcoin-linked holdings as well.

Emory’s filing listed 1 million shares in the Grayscale Bitcoin Mini Trust, valued at about $52 million, close to double its previous quarter volume. The university also reported 4,450 shares in the iShares Bitcoin Trust worth around $289,000, indicating that it is building exposure across multiple Bitcoin-focused products rather than relying on a single fund.

These updates landed during a week of significant redemptions across spot Bitcoin ETFs. U.S.-listed funds saw combined outflows of approximately $867 million on Thursday and an additional $462 million on Friday.

Bitcoin prices also came under pressure, falling from roughly $107,000 at the start of the week to below $95,000 by Friday.
Even with the market decline and ETF withdrawals, the quarterly disclosures from major U.S. universities indicate that these institutions increased their Bitcoin-related holdings before the volatility, reinforcing that their allocations are being driven by longer-term planning rather than short-term price moves.

Also Read: Wall Street Calls Senate Crypto Bill the Most Important Regulation Since 1930

Even so, a few American-origin networks are beginning to show signs that they may steady themselves before the month ends. One is moving out of sync with Bitcoin, one is building a reversal structure that traders often look for after a long pullback, and one is seeing heavy accumulation from the largest wallets on the network. These early signals make the following three coins worth tracking this week.

1. Litecoin (LTC)

Litecoin has held up better than most large-cap assets during November’s turbulence. Over the last month it has climbed just over 8%, and it has added another 7% in the past day, which stands out in an otherwise soft market.

What makes LTC particularly interesting right now is its near-complete price independence from Bitcoin. Over the last 30 days, the correlation between LTC and BTC has hovered around –0.01, essentially meaning Litecoin has been moving on its own. Since Bitcoin has dropped more than 13% during this period, Litecoin’s ability to move differently has helped it stay afloat.

On the chart, Litecoin is shaping an inverse head-and-shoulders formation, a pattern traders often watch during market bottoms. LTC is currently trading around $102, and the structure completes if the price can close above $119 on the daily chart. If that happens, the next potential zone stretches toward $135, assuming broader market sentiment stabilizes.

There’s also a shift in trading behavior beneath the surface. The Smart Money Index, which tracks how larger or more informed traders position themselves, began turning upward around November 13. That suggests some early repositioning as LTC approaches a critical price level.

If bulls cannot break $119, the first significant support to watch is $93. Losing that level weakens the reversal structure. A fall under $79 would completely invalidate the pattern.

2. Solana (SOL)

Solana has spent most of November under heavy pressure, falling nearly 27% over the last 30 days. Despite the drawdown, the chart is beginning to show signs that sellers may be losing control.

The clearest signal appears in the Relative Strength Index (RSI). Between November 4 and November 14, SOL’s price pushed to a fresh low, but the RSI posted a higher low. This is called a bullish RSI divergence, and it often appears before short-term trend shifts.

If buyers take advantage of the divergence, the first major test is $162, a level that has repeatedly rejected the price since early November. Breaking above it opens the range to $170, and if momentum expands, SOL could target $205 in the short term.

However, the setup only holds if the price stays above $135. A breakdown exposes $126, which would weaken the case for a near-term reversal.

3. Chainlink (LINK)

Chainlink has not escaped November’s decline either, falling more than 20% over the past month and over 10% in the last week. Yet, something notable is happening underneath the price action: the largest holders are accumulating while the price is falling.

In the past week, wallets classified as “regular whales” increased their holdings by 8.92%, while the top 100 addresses added 1.51% more LINK. Large holders tend to move early, and accumulation during weakness often hints at early positioning for a potential trend shift.

The chart supports that idea. Between October 10 and November 14, LINK formed a lower low, while its RSI formed a higher low — a bullish divergence, similar to what Solana is showing.

For the reversal setup to activate, LINK needs to climb back above $16.10, which is roughly a 17% move from its current range. A push through that level opens the next zone near $17.57, and if buyers maintain control, LINK could attempt a run toward $21.64.

On the downside, the crucial support to hold is $13.72. A close below that level breaks the current structure and delays any recovery attempt.

Also Read: Circle Opens Arc Blockchain Testnet With BlackRock, Visa and AWS

During the campaign, a few business owners warned that additional taxes could make New York less appealing for people who have the flexibility to move. Some said higher costs could affect investments or prompt them to shift parts of their business to states with lower taxes. Those comments drew attention, but they do not match what long-term studies have shown about how wealthy households react to tax changes.

Researchers who track migration patterns say the number of high earners who relocate for tax reasons tends to be small. People with seven-figure incomes usually have roots in the city that go far beyond tax rates: families, companies, long-standing clients, cultural interests, and access to specialized industries. Those ties are difficult to replace, which is why most high-income households stay even when top tax brackets rise.

New York’s economic ecosystem also continues to play a central role. Many industries — finance, media, technology, design, law, and health care — remain concentrated in the city. That concentration gives high earners access to teams, markets, and opportunities they would not find elsewhere, offsetting the effect of slightly higher taxes.

Mamdani wants to raise the city income-tax rate on earnings above $1 million from about 3.9% to 5.9%. He is also preparing to seek an increase in the city’s corporate rate, from 7.5% to 11.5%. His administration estimates the combined changes could bring in roughly $9 billion for programs such as child-care support and improvements to public transportation.

When asked whether the plan might unsettle employers, Mamdani has pointed to the city’s cost-of-living issues. He notes that many companies already help employees cover expenses like child care because wages often do not keep up with housing and daily costs. He argues that easing those burdens could help businesses keep workers, even if taxes rise at the very top.

Any change to income or corporate taxes would need approval from state lawmakers and the governor before it can move forward.

Years of research on millionaire migration support the idea that tax-driven relocation is uncommon. Studies examining high earners in multiple states over long periods have found that some do move after tax increases, but the numbers rarely approach anything that would meaningfully alter a city’s tax base.

A few economists say even slow movement among the highest earners can influence revenue over time. Others point out that New York’s larger challenge is not at the top of the income scale. It is the steady loss of middle- and lower-income households who struggle with rent, transportation, and child-care costs.

That trend puts the current debate in a different light. While fears of a wealthy exodus appear overstated, the city continues to lose residents who cannot afford to stay. The shape of New York’s future may depend less on whether millionaires remain and far more on whether working families can hold on.

Also Read: These 5 Common Traffic Mistakes Could Spike Your Insurance Costs

The cuts are expected to start next week and would remove roughly 15% of Verizon’s U.S. staff. A large portion involves management roles, which the company plans to shrink by more than 20%. Verizon is also planning to shift around 180 company-run retail stores to franchise operators, the person said.

Schulman joined Verizon after leading PayPal. He steps into the role at a time when the wireless market has slowed and competition has intensified. AT&T and T-Mobile have been offering heavy discounts on new phones, drawing in many customers during recent device launches.

In the July–September quarter, Verizon added 44,000 postpaid phone lines, far fewer than its two main competitors. T-Mobile posted more than 1 million additions in the same period. Cable companies such as Comcast and Charter have also been gaining users by bundling mobile service with home internet, creating more pressure on Verizon’s business.

Verizon has been trimming its workforce gradually over the past few years. By the end of 2024, the company had around 100,000 employees, down from roughly 120,000 earlier in the decade. A voluntary exit program last year resulted in about 4,800 departures, and a similar program in 2018 led to more than 10,000 employees leaving.

Schulman has said publicly that Verizon needs to simplify its structure and reduce operating costs. He has also stated that relying on repeated price increases is not a long-term approach, and that the company needs to focus more on keeping existing users and improving service.

In recent years, Verizon has made several large financial commitments. The company spent $52 billion in 2021 to secure midband wireless spectrum for its 5G network. It also reached a $20 billion deal for Frontier Communications’ fiber assets and paid $6 billion to acquire TracFone Wireless to expand its prepaid business.

Some people who follow the industry say the company may need to offer more generous phone upgrades or trade-in deals to keep users from switching carriers. Whether the planned cost reductions will give Verizon enough room to support those offers is still uncertain.

Also Read: Tesla Cybertruck Program Head Siddhant Awasthi Resigns

According to the Western Area Power Administration, the two 500-kilovolt lines tripped unexpectedly, causing a sharp voltage drop that moved quickly through the grid. Stephen Collier, a public affairs specialist with the agency, said the disturbance set off additional line failures and resulted in rolling outages through multiple communities.

Several Wyoming cities — including Sheridan, Buffalo, Gillette, Newcastle, Glenrock, and Casper — experienced partial or full outages. With temperatures falling in the early evening, Sheridan County officials opened the fairgrounds exhibit hall to give residents without heat a place to stay warm.

As utilities were working to restore service, a separate issue was reported at the Dave Johnston coal plant near Glenrock, where a fire broke out on Thursday. Wyoming Department of Homeland Security Director Lynn Budd said the fire started after the grid problems had already begun. Investigators have not determined whether the plant fire and the transmission-line failure are connected.

Repair crews continued assessment and restoration efforts through the night. Officials said more information will be released once engineers complete their review of what caused the transmission lines to fail and whether additional grid protections will be needed to prevent similar incidents.

Also Read: Robinhood Launches Home Cash Delivery Service Through Gopuff in US Cities

The listing comes during a year with a large number of public issues in India. More than 300 companies have raised around $16.55 billion so far, and the total may cross last year’s figure of $20.5 billion if the remaining deals go through. Strong retail participation and steady institutional interest have kept activity high.

Not all recent listings have seen the same response. LG Electronics India and Billionbrains Garage Ventures opened strongly, while Lenskart and Canara HSBC Life Insurance saw quieter trading on Day 1. Pine Labs entered the market with a more modest valuation, which may have helped draw buyers looking for reasonable pricing.

The company’s IPO valued it at $2.9 billion, lower than the $5 billion figure from its 2022 fundraise. The adjustment was expected, as investors have been more careful with fintech companies that are still working on improving their profit numbers. Pine Labs continues to have a wide merchant base and operates across both digital and in-store payments, which remains one of its key strengths.

The stock’s first-day gain does not settle questions about the company’s future earnings, but it does signal that there is interest in the business. The IPO had been discussed for some time, and there were doubts about the timing. The clean debut shows that investors were comfortable with the revised pricing. Several more companies are preparing to list this month, and Pine Labs’ opening day gives a simple reference point for how investors are approaching technology-related stocks right now.

Also Read: Lenskart’s $821 Million IPO Debut Wobbles Before Shares Bounce Back

The service costs $6.99, or $2.99 for people who keep more than $100,000 in Robinhood accounts. It may sound unusual, but Robinhood believes younger users appreciate any service that saves time and avoids unnecessary trips outside.

Why Robinhood is Offering This

Most payments today happen through UPI, cards, or mobile wallets, but there are still moments when people need real cash. It might be for a quick tip, a small shop that doesn’t take digital payments, or a personal emergency late at night.

For many users, the biggest inconvenience isn’t the cash itself—it’s finding an ATM, hoping it works, and waiting in line. Robinhood sees this new option as a way to remove that hassle.

Deepak Rao, who heads Robinhood’s banking products, explained the thought behind it: people get almost everything else delivered—so why not cash too?

Where the Service Works and Who Can Use It

The feature is already available in New York City. More cities—including San Francisco, Washington D.C., and Philadelphia—will get access in the coming months.

To use the service, customers must:

• Be subscribed to Robinhood Gold (₹400-ish per month equivalent in USD)

• Receive at least $1,000 in monthly direct deposits

• Order cash between 9 a.m. and 7 p.m., the delivery window for now

Security Steps to Protect Users

Because actual cash is involved, Robinhood and Gopuff have set a few rules:

• The rider will hand the package directly to the customer—no leaving it at the door.

• The customer must show a verification code before receiving the money.

• Drivers won’t know what’s inside the sealed bag.

This setup is similar to how Gopuff already handles expensive items such as headphones or premium drinks.

How This New Feature Could Actually Help People

Many Robinhood users live in big cities where ATMs aren’t always close by or are often out of service. Some machines also charge withdrawal fees, which adds to the frustration. For people who don’t want to step out late at night or don’t feel comfortable carrying cash around after leaving an ATM, doorstep withdrawal can be a safer and easier option.

There’s also a practical angle: not every small business or service provider accepts digital payments. Anyone who has needed cash urgently—whether for a local repair person, a tip, or an unexpected situation—knows the stress of searching for a working ATM.

Instead of building physical branches or large ATM networks, Robinhood is trying a simpler approach: use delivery networks that already exist. It may not replace ATMs entirely, but it gives customers one more way to access their money when they need it, without leaving home.

Also Read: Robinhood Cuts Interest Rates on Margin Loans to Attract More Users

Key Highlights

• Circle has opened testing of its new blockchain, Arc, a network that supports stablecoin payments and settlements between institutions.

• More than 100 firms — including BlackRock, Visa, Mastercard, Amazon Web Services, Goldman Sachs, and Deutsche Bank — are part of the pilot.

• Arc has a foreign exchange system that lets users exchange one stablecoin for another, such as USDC, JPYC, or BRLA.

• Transactions run through verified participants with fixed dollar fees and confirm in under a second.

• Circle is operating the network during testing and plans to let approved financial institutions run their own validator nodes later.

• The pilot covers cross-border payments and fund transfers, with limited live trials expected in 2026 after security and compliance review.

SINGAPORE — Circle Internet Financial, the issuer of the USDC stablecoin, has launched a public testnet for its new blockchain network, Arc, bringing over 100 companies — including BlackRock, Visa, Amazon Web Services, and several global banks — into early testing.

Arc is designed to process financial transactions using stablecoins instead of traditional bank payment rails.
The network allows direct, real-time transfers between digital currencies that are backed by national currencies such as the U.S. dollar, Japanese yen, or euro.

Network Focused on Institutional Payments

Arc operates as a permissioned Layer-1 blockchain, where all participants are verified before accessing the system.
It uses fixed, dollar-based transaction fees and confirms payments in less than a second.
Circle said the setup is aimed at institutions that need predictable costs and regulatory compliance rather than open-market speculation.

The network connects with Circle’s existing USDC infrastructure so financial institutions can clear transactions directly in digital dollars without using the SWIFT network or correspondent banks.

Participants in the Testnet

More than 100 companies have joined the testing phase.
These include asset managers such as BlackRock and Goldman Sachs; banks including BNY Mellon, HSBC, Deutsche Bank, and Standard Chartered; and payment firms Visa and Mastercard.
Technology partners AWS and Cloudflare are providing connectivity and infrastructure support.

Crypto trading platforms Coinbase, Kraken, and Robinhood are testing wallet and exchange integrations.
Regional stablecoin issuers — JPYC in Japan, BRLA in Brazil, and QCAD in Canada — are also connected for currency-pair testing.

Integrated Foreign Exchange System

A central component of Arc is its on-chain foreign exchange (FX) engine, which allows one stablecoin to be exchanged directly for another.
This mechanism supports near-instant swaps between tokens pegged to different fiat currencies, enabling faster international transfers.

For example, a payment in Japan’s JPYC could be converted to U.S. dollars through USDC within seconds on the same network, without intermediaries.
Circle said the FX engine is designed to meet financial compliance requirements, including full audit trails for institutional reporting.

How Circle Is Running the Testnet

Arc is still being operated entirely by Circle engineers.
Every transaction on the test network passes through nodes maintained in-house, with partner banks connecting through controlled access points rather than public blockchain wallets.

Several participants said Circle is using this phase to log system stress data — tracking latency, network throughput, and compliance audit trails before opening it to external validators.
A draft rulebook shared with banks sets out how institutions could later verify transactions directly, using licensed validator nodes linked to their existing regulatory oversight.

People involved in the pilot said no commercial launch date has been agreed, but Circle has told partners that a transition to limited live trials could begin in 2026, depending on how the network performs under full institutional loads.

What the Tests Are Measuring

Most tests on Arc focus on practical clearing functions, not retail payments.
Companies are using simulated transfers to move funds between corporate accounts in different countries, test FX conversions between stablecoins, and evaluate whether those transactions can be settled within existing compliance rules.

Bank engineers involved said they’re comparing Arc’s timing and audit logs with traditional payment rails such as SWIFT and Fedwire.
The idea is to see whether blockchain infrastructure can meet the same reporting standards while reducing settlement windows from days to seconds.

Arc’s pilot overlaps with networks like JPMorgan’s Onyx and the Fnality platform, but unlike those systems, Arc is designed to support any compliant stablecoin, not just bank-issued tokens.
That makes it one of the few blockchain environments being tested simultaneously by global banks, payment companies, and stablecoin issuers.

Also Read: OpenPayd Partners with Circle to Power Real-Time Stablecoin (USDC) and Fiat Transactions

The U.S. Food and Drug Administration (FDA) released draft guidance last month that would limit the need for large-scale efficacy trials in biosimilar approvals.
The proposal favors advanced laboratory analytics and smaller safety studies over full comparative trials, a change that could reduce both time and spending in development.

Lower Testing Could Halve Development Expenses

Biosimilars are near-identical versions of high-cost biological drugs used in treating cancer, diabetes, and autoimmune diseases.
Their development is far more complex than that of conventional generics, often taking nearly a decade and requiring hundreds of patients for trial enrollment.

Tambe said the FDA’s proposal could lower those costs by around 50%.

“It will allow us to bring products to market faster, at a lower cost, while maintaining scientific rigor,” he said.

He added that the savings could be reinvested into additional pipeline programs, particularly in oncology and immunology.

Biocon Plans Two More U.S. Biosimilar Launches

Biocon Biologics, the biosimilar arm of Biocon Ltd., has seven biosimilars already approved in the United States and is preparing to introduce two additional products within the next six months, CEO Shreehas Tambe said.

The company is prioritizing filings in oncology and autoimmune treatments, areas where several branded biologics are losing patent protection.
Tambe said Biocon’s existing cancer biosimilars account for about one-fourth of the U.S. market in their respective categories, giving it a strong base for new entries.

He added that the FDA’s proposed trial reforms would allow Biocon to submit the same clinical data to both U.S. and European regulators, cutting duplicate studies and reducing time to approval for upcoming drugs.

Biosimilars Account for Bulk of Revenue

More than 60% of Biocon’s total revenue now comes from biosimilars, and the segment’s sales grew 25% year-on-yearin the most recent quarter.
The company has invested heavily in regulatory filings, analytical testing, and capacity expansion at its manufacturing facilities in Bengaluru and Malaysia.

Tambe said the lower-cost pathway could allow Biocon to double the number of concurrent biosimilar programs without increasing total R&D spending.

Plans to Add New Therapeutic Lines

Alongside biosimilars, Biocon is building a broader generics pipeline.
The company has identified metabolic disorders and weight-management drugs as its next major growth areas.
Executives said existing manufacturing capacity and distribution partnerships can support both biologics and small-molecule launches without significant new investment.

FDA Proposal Could Simplify Global Biosimilar Approvals

The United States generates most of Biocon’s biosimilar revenue, followed by Europe and Japan.
Biocon executives said the FDA’s new trial guidance will likely become the reference model for future filings in markets that already rely on U.S. data, such as the U.K. and several European Union countries.

The company’s regulatory teams have started adjusting their documentation and lab protocols to match the FDA’s new analytical standards.
Biocon plans to file three new biosimilars for review in both the U.S. and Europe within the next 18 months, using the same data package instead of repeating separate trials in each region.

According to the company, aligning submissions across regulators will reduce duplicate studies and speed up approvals for new products already in late-stage development.

Also Read: Trump Says U.S. and India Nearing Trade Deal, Tariff Reductions Likely Soon

The company said transfers using USD Coin (USDC) — a cryptocurrency backed one-for-one by the U.S. dollar — can now reach approved digital wallets connected to Mastercard Move, its cross-border settlement platform.

Stablecoin Settlement Added to Mastercard Move

Thunes converts the sender’s local currency into USDC and transfers the tokens to a recipient’s wallet.
Unlike traditional bank transfers that clear through a chain of intermediaries, the blockchain-based transfer settles in near real time.

Mastercard said the system keeps all compliance checks in place — identity verification, sanctions screening, and anti–money-laundering reviews — before transactions are approved.
That means the new feature works inside existing financial rules, not around them.

Why Mastercard Picked Thunes

Thunes connects banks and wallet providers in more than 130 countries and already processes payments for major remittance and marketplace firms.
Its reach in Africa, Southeast Asia, and Latin America gives Mastercard access to millions of wallets that aren’t linked to banks but are licensed by regulators.

People in those regions often depend on wallet apps for income transfers or remittances.
The Thunes integration lets Mastercard move money directly into those channels without using crypto exchanges or unregulated intermediaries.

Visa Running a Similar Trial

A day before Mastercard’s launch, Visa began testing stablecoin payouts on its Visa Direct platform.
Both card networks are using blockchain as a settlement tool for the first time, rather than relying entirely on correspondent banking or SWIFT transfers.

Together they clear roughly $20 trillion in annual transactions.
Their adoption of USDC and other regulated tokens signals that stablecoins are shifting from crypto exchanges into mainstream payment infrastructure.

Faster Payments for Global Platforms

The feature is designed for companies that move money to contractors or sellers in multiple countries — gig-work apps, e-commerce firms, and creative platforms among them.
A worker in Manila or a vendor in Nairobi could now receive USDC within minutes instead of waiting several days for a wire transfer to clear.

Transfers also avoid the stacked fees charged by intermediary banks.
Wallet providers working with Thunes can convert the stablecoins into local currency for users who prefer cash-out options.

Tightly Controlled Rollout

Mastercard said the service will expand gradually during 2026.
New wallet corridors will only go live after approval from regulators in each country and proof that stablecoin reserves are fully audited.

Thunes said testing is already under way for routes in Kenya, Nigeria, Brazil, and Mexico, markets where it already processes high remittance volumes.
The companies expect the first of those transfers to go live in early 2026.

Pressure on Traditional Payment Networks

By using blockchain as a settlement layer, Visa and Mastercard are cutting out parts of the clearing process that keep cross-border payments slow and expensive.
Banks that depend on SWIFT may face pressure to match that speed.
Stablecoin issuers, meanwhile, gain a route into regulated finance without the volatility of open crypto markets.

Both companies said future updates will depend on regulatory approval and market demand, not on unverified expansion timelines.

Also Read: Sam Altman's World Network in Talks with Visa for Stablecoin Wallet Integration

The company announced the decision in a filing with the Securities and Exchange Commission on Wednesday. The change gives the cryptocurrency exchange a new legal base in a state that has recently rewritten parts of its business code to attract public companies and technology firms.

Coinbase Questions Delaware’s Legal Predictability

Coinbase’s Chief Legal Officer Paul Grewal explained the reasoning in an op-ed for The Wall Street Journal. He said Texas had updated its statutes to make board governance more flexible and court procedures more predictable — two factors that weigh heavily for public companies dealing with complex regulation.

Grewal said Delaware’s once-steady Court of Chancery had produced “unsteady outcomes” in corporate cases. “For years, Delaware’s system gave companies consistency,” he wrote. “That reliability has eroded.”

The Court of Chancery, which specializes in corporate law, has drawn scrutiny after a string of high-profile rulings against executives and merger deals, leading some firms to reassess where they incorporate.

CEO Armstrong Endorses Texas Business Framework

Coinbase CEO Brian Armstrong said in a post on X that the company’s move reflects confidence in Texas’s approach to corporate law and business regulation. He described the state as one that “supports builders and practical economic growth.”

The decision makes Texas responsible for Coinbase’s corporate governance and future legal matters — a shift that follows other large firms choosing to register in the state for its faster court system and lower administrative costs.

Texas Attracts More Corporate Registrations

Delaware remains the legal base for most U.S. corporations, but several major firms have recently shifted to Texas, citing faster court procedures and lower compliance costs. Tesla, Charles Schwab, and a handful of technology companies moved their registrations over the past three years after Texas streamlined its business statutes.

Lawmakers in Austin have introduced corporate-law revisions that clarify shareholder rights and director responsibilities, giving companies more room to structure governance policies without lengthy court approval.

Tesla CEO Elon Musk publicly encouraged other firms to follow suit, writing in January 2024 that Delaware “no longer offers consistent rulings” for corporate disputes.

Coinbase Files New Charter Application, Builds Federal Links

Coinbase, listed on the Nasdaq under ticker COIN, went public in 2021 and has taken steps to deepen its position in regulated finance. The company filed for a National Trust Charter with the Office of the Comptroller of the Currency, a move that would place parts of its custody and payments business under federal supervision.

It also signed a payments agreement with JPMorgan Chase & Co. earlier this year to shorten settlement times for digital-asset transactions.
By registering in Texas, Coinbase will operate under a state that has openly supported financial-technology licensingand maintains faster administrative review for corporations.

Shares Little Changed After Texas Move

Coinbase stock (COIN) closed at $303.12 on Wednesday with minimal movement following the company’s Texas registration filing.
The change affects corporate jurisdiction, not trading activity or reported earnings, leaving investors focused on next week’s quarterly results.
The stock is down about 14% in the past month, tracking a slowdown in cryptocurrency trading volumes.

Texas Competes With Delaware for Corporate Listings

Texas has revised its corporate statutes and court procedures in recent years, giving companies a faster process for resolving business cases and approving governance changes.
Major firms including Tesla and Charles Schwab have already registered in the state.
Coinbase’s move adds another large public company to that list, reinforcing Texas’s effort to compete with Delaware’s long-established corporate system.

Also Read: Ireland Fines Coinbase $25 Million for Money Laundering Monitoring Failures

Key Points

Los Angeles — Disney is losing an estimated $4 million every day as its standoff with YouTube TV enters a second week, leaving millions of U.S. households without access to ESPN, ABC, FX, and National Geographic.

The blackout began on October 30 after Disney and YouTube TV failed to renew their carriage contract. YouTube TV, owned by Alphabet Inc., immediately removed Disney’s networks from its live-channel lineup, halting one of Disney’s most profitable revenue streams.

Analysts at Morgan Stanley estimate the company is missing out on about $30 million a week in combined affiliate fees and advertising income.

Disney and Alphabet Disagree Over Fees

The dispute centers on how much YouTube TV should pay to carry Disney’s channels.
Disney is seeking higher carriage fees for ESPN and ABC, arguing that live sports and primetime programming continue to draw large audiences. Alphabet has rejected the increase, saying Disney’s proposed rates would force price hikes for subscribers and breach existing parity agreements with other distributors.

In the cable era, Disney could afford a long blackout. Viewers had fewer options, and ESPN was essential for sports fans. But YouTube TV now serves more than nine million subscribers, giving Google more control over how households access live television.

Blackout Hits Disney During Peak Sports Schedule

The dispute comes at a costly time. ESPN’s lineup currently includes the NFL, NBA, college football, and NHL — its busiest stretch of the year. Each day off YouTube TV cuts into the audience advertisers pay to reach.

ABC is also airing its fall schedule, losing primetime ad inventory during one of the strongest revenue quarters for network television. Analysts say losses could exceed $60 million if the outage extends into next week.

The financial hit is modest relative to Disney’s size but underscores a deeper problem: the company’s traditional TV model depends on distributors it no longer fully controls.

YouTube TV Credits Subscribers, Holds Its Ground

YouTube TV has offered subscribers a $20 credit to offset the missing channels. The refund costs far less than agreeing to Disney’s pricing terms, allowing Alphabet to absorb the impact with limited financial risk.

Some users say the credit process is confusing, but YouTube TV appears comfortable maintaining its position. Its leadership believes viewers are more likely to accept a temporary content gap than a higher monthly bill.

The standoff shows how distribution platforms have gained leverage as streaming replaces cable. With its scale and pricing power, YouTube TV can negotiate from a position that traditional cable operators once held.

Impact on Disney’s Leadership and Earnings

The blackout compounds existing challenges for CEO Bob Iger, who is managing corporate restructuring, slower streaming growth, and the question of how to position ESPN for a digital future.

Every day without access to YouTube TV cuts into ESPN’s ratings, ad impressions, and brand visibility. Those shortfalls could appear in Disney’s November earnings report, scheduled for release on Thursday morning.

Negotiations Likely to Conclude Soon

People familiar with the talks say both sides are still in contact and aiming to restore service before mid-November. Neither company benefits from a prolonged disruption during football season, when ESPN generates its highest ad revenue.

When the channels return, the outcome will signal more than just a contract renewal — it will show how much control over television has shifted from the studios that create shows to the platforms that deliver them.

Also Read: Google to Invest $6.4 Billion to Build New Cloud Data Center in Germany

Key Highlights of the Senate Crypto Bill

Washington — A bipartisan U.S. Senate bill that would give federal regulators direct authority over Bitcoin and Ethereum trading is being described by Wall Street executives and crypto leaders as the most important piece of financial legislation in nearly a century.

On November 10, the Senate Agriculture Committee released a proposal that would formally place digital commodities such as Bitcoin (BTC) and Ethereum (ETH) under the Commodity Futures Trading Commission (CFTC). The bill was written by Sen. John Boozman (R-Ark.) and Sen. Cory Booker (D-N.J.) and lays out new national standards for how cryptocurrencies are traded, stored, and safeguarded.

“This is the clearest roadmap yet for how traditional financial institutions can engage with digital assets,” said Cody Carbone, CEO of the Digital Chamber, in an interview with CNBC. “It tells businesses exactly what’s expected of them, rather than leaving them guessing.”

CFTC to Regulate Bitcoin and Ether Trading

Under the draft, the CFTC would oversee trading platforms that deal in Bitcoin and Ether — classifying both as digital commodities. Crypto exchanges would be required to register as Digital Commodity Exchanges (DCEs) and follow federal rules on asset custody, accounting, and customer protection.

The proposal would also separate trading, brokerage, and custody activities within exchanges — a structure designed to prevent conflicts of interest, similar to traditional banking rules. The Securities and Exchange Commission (SEC)would retain authority over tokens considered securities, while both agencies would collaborate on shared areas such as disclosure and reporting.

If enacted, the new system would end years of jurisdictional disputes between the CFTC and SEC, which have left the U.S. crypto market in regulatory uncertainty.

White House and Banking Industry Endorse the Proposal

The draft has support from the White House and major financial institutions. President Donald Trump has called digital asset regulation “a national priority,” saying the proposal could bring stability to the industry while keeping innovation within U.S. borders.

Banking executives view the bill as a turning point for integrating crypto into the broader financial system. Brian Moynihan, CEO of Bank of America, said clear rules would allow banks to handle crypto transactions with confidence. “Once there’s legal clarity, financial institutions will finally be able to offer regulated services for digital assets,” he said.

Brian Armstrong, CEO of Coinbase, said his firm has met with lawmakers from both parties to discuss the bill. “There’s rare bipartisan agreement on this,” Armstrong said. “Everyone understands that digital assets are too big to ignore, and this gives the market a path forward.”

Bill Imposes Strict Trading and Disclosure Standards

The Senate draft requires crypto trading platforms to separate customer assets from company funds, maintain transparent order books, and record all trades for regulatory review.

Exchanges would need to publish clear, standardized disclosures on pricing, custody arrangements, and the handling of user deposits — similar to those required of registered futures and stock exchanges.

The CFTC would conduct periodic audits and require independent verification of reserves to prevent misuse of client assets, a key issue highlighted by the collapse of FTX and other exchanges.

The proposal also limits which tokens can be listed for trading. Exchanges could only offer assets that are proven to have stable markets and limited potential for manipulation. That provision is aimed at curbing speculative tokens and preventing schemes such as wash trading and artificial volume inflation.

To finance its expanded supervision, the bill allows the CFTC to collect registration and examination fees from approved digital commodity exchanges.

Together, these measures would replace the fragmented self-regulation that dominates crypto trading today with a standardized federal rulebook modeled on existing commodity and futures laws.

Senate Committees to Align Crypto Rules Before Year-End

The Agriculture Committee’s digital asset draft will move next to joint review with the Senate Banking Committee, which is preparing a separate bill covering digital tokens that qualify as securities. Staff from both panels are already reconciling overlapping sections to produce a single text for floor debate.

Lawmakers involved in the talks said the goal is to finalize language before the end of 2025 so the proposal can reach the full Senate early next year. The combined version will spell out how responsibilities are divided between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) — an issue that has stalled crypto regulation for more than five years.

If the committees agree on the final draft, it will advance to a Senate vote and then move to the House for review. Several industry groups, including the Digital Chamber and the Blockchain Association, have already pledged support, saying the measure would give exchanges, banks, and investors the first clear federal rule set for trading digital assets in the U.S.

Also Read: Senate Proposes CFTC Regulation of Bitcoin and Ether Trading

Washington — The U.S. Senate is reviewing a bipartisan proposal that would place the Commodity Futures Trading Commission (CFTC) in charge of regulating digital commodities such as Bitcoin and Ether. The measure seeks to establish uniform rules for trading and protect customers in an industry that has operated without clear federal supervision.

The bill, written by Sen. John Boozman (R-Ark.) and Sen. Cory Booker (D-N.J.), directs the CFTC to license and monitor crypto exchanges, brokers, and clearinghouses. Registered firms would operate as Digital Commodity Exchanges (DCEs) under new federal standards for custody, reporting, and trading practices.

“The purpose is to bring order to a market that has been running without consistent rules,” Boozman said. Booker said the proposal ensures customer funds are separated from company accounts and requires more public reporting from crypto firms.

The plan builds on earlier legislation approved by the House of Representatives that gave the CFTC responsibility for the digital commodity market. Together, the bills aim to settle a long-standing dispute over whether digital assets fall under the CFTC or the Securities and Exchange Commission (SEC). Under the new proposal, the SEC would continue to supervise assets that function like securities, while the CFTC would handle spot trading in Bitcoin, Ether, and other non-security tokens.

Debate continues over how the rules should apply to decentralized finance (DeFi) platforms. Supporters of tighter controls want these platforms to follow anti–money laundering requirements similar to banks. Others argue that applying the same rules to decentralized software would be unworkable and could drive developers out of the country.

The CFTC’s ability to carry out the new mandate remains uncertain. The commission currently has one active member. President Donald Trump has nominated Mike Selig to lead the agency, with two Democratic seats still vacant. Boozman said the commission “must be fully staffed and trained” before taking on new duties. Booker agreed that enforcement will depend on whether the agency receives enough funding to manage the workload.

Progress on the legislation has slowed during the ongoing 41-day government shutdown, which has halted most committee activity. A short-term funding vote this week will determine when the Senate resumes debate on the bill.

Crypto exchanges have urged Congress to finalize the measure, arguing that clear federal rules would replace the patchwork of state-level regulations. Coinbase CEO Brian Armstrong said after a recent meeting with senators that most technical details “are already settled,” and that both parties appear ready to move forward.

Sen. Thom Tillis (R-N.C.) warned that Congress has a limited window to vote on the measure before next year’s election schedule limits floor time. SEC Chair Paul Atkins said coordination with the CFTC is already underway to align enforcement and registration requirements.

The White House has asked Congress to deliver the final bill to President Trump by the end of 2025. Supporters hope the measure will finally bring legal clarity to a market worth more than a trillion dollars and end years of regulatory uncertainty around digital assets.

Also Read: CFTC Commissioner Summer Mersinger to Lead Blockchain Association as New CEO

The investment includes a new data center in Dietzenbach, near Frankfurt, an area that hosts many of Europe’s financial institutions and network hubs. The plan was shared by the company ahead of a press briefing in Berlin.

Google said the move responds to growing demand for cloud computing and AI processing among German manufacturers, financial firms, and government agencies. The new facility will operate alongside its existing Frankfurt site and is expected to handle workloads linked to Google Cloud’s enterprise clients in Europe.

The company confirmed it is working with regional authorities on permits and construction plans and expects physical work on the Dietzenbach site to start in early 2026. Once operational, the data center will provide capacity for high-performance computing and cloud storage under European data protection standards.

To power the new site, Google is negotiating with local utilities to secure renewable electricity and expand access to clean energy in the Hesse region. The company reiterated its target to operate entirely on carbon-free energy by 2030, a commitment shared across all its global infrastructure.

Rival cloud providers such as Amazon Web Services and Microsoft Azure have also announced new cloud regions in Germany within the past year. Their expansion aligns with Berlin’s stricter data localization and cybersecurity rules, which require certain information to be stored within the country.

The Dietzenbach project will position Germany as a central hub in Google’s European network, adding capacity for AI workloads, regional cloud storage, and faster digital services for local clients.

Also Read: Google and Reliance to Offer Free 18-Month AI Pro Access to Jio Users in India

Speaking at the swearing-in ceremony of Sergio Gor as the new U.S. ambassador to India, Trump said discussions between both governments had entered their final stages. “We’re getting pretty close to doing a deal that’s good for both sides,” he said. “Right now, they don’t love me, but they’ll love us again,” he added, referring to past disagreements on trade and oil imports.

The two countries have been in prolonged talks since Washington raised tariffs on Indian exports earlier this year, in some cases up to 50 percent. The move was intended to pressure New Delhi to scale back purchases of Russian crude oil. The decision strained relations between two key strategic partners already at odds over market access and agricultural imports.

Trump now says that India has made substantial progress on that front. “They’ve reduced the Russian oil very substantially,” he said. “We’re going to be bringing the tariffs down, at some point.” The comment suggests the White House may be preparing to roll back some of the duties imposed during the standoff.

Officials involved in the negotiations said both sides have held multiple rounds of talks in recent weeks. According to a senior Indian trade official, discussions have focused on tariff relief for goods such as textiles, pharmaceuticals, and machinery, as well as smoother access for U.S. agricultural and technology exports. “Negotiations are progressing well, and we are awaiting a response from the U.S.,” the official said on Tuesday.

The easing of tensions follows a notable shift in India’s oil sourcing. Government data show Indian refiners reduced Russian crude imports by nearly 30 percent in October after Washington imposed new sanctions on Moscow’s energy sector. Analysts say the reduction helped create space for progress in trade discussions that had been stalled since midyear.

At Tuesday’s ceremony, Trump praised Ambassador Gor’s early engagement with Prime Minister Narendra Modi, describing their relationship as “friendly and productive.” He said Gor’s mandate will include deepening economic cooperation, expanding investment, and promoting U.S. energy exports to India.

The United States remains India’s largest trading partner, with two-way trade exceeding $190 billion last year. Indian exports to the U.S. — led by engineering goods, IT services, and pharmaceuticals — make up nearly one-fifth of the country’s total exports. For Washington, India is a growing market for energy, defense, and advanced manufacturing, and a key ally in maintaining supply chain stability in Asia.

Negotiators expect to wrap up the current round of talks before the end of the year. A successful outcome could see tariff revisions announced in early 2026, according to officials briefed on the discussions. Both governments view the potential deal as a step toward stabilizing trade ties that have fluctuated over the past three years, with Washington eager to secure more predictable access to the Indian market.

Also Read: India and Israel Sign Defense Technology MoU Focused on Joint Production and Research

The shift marks a turning point in YouTube’s creator economy. The company said in June that its ecosystem contributed over $55 billion to U.S. GDP and created 490,000 full-time jobs last year. Yet ad payouts remain unpredictable. In response, top YouTubers have built real-world companies that now earn more than their content ever did.

MrBeast:

Jimmy Donaldson (MrBeast) has built one of the biggest media-backed consumer brands in the world. His snack label Feastables, launched in 2022, generated about $250 million in 2024 revenue. Its first product, the MrBeast Bar, sold 1 million bars in three days.

Donaldson’s wider portfolio includes MrBeast Burger, the packaged food brand Lunchly (with Logan Paul and KSI), MrBeast Lab toys, and the analytics startup Viewstats. He’s also filed trademarks for a banking and crypto app and is developing plans for a mobile network service.

Reports this year suggest he is working on a theme park in Saudi Arabia designed around challenges from his videos — a project that underlines how far his brand extends beyond YouTube.

Emma Chamberlain:

Emma Chamberlain went from casual vlogger to business founder with Chamberlain Coffee, launched in 2019. The company sells coffee and matcha online and through retailers including Target, Walmart, and Sprouts.

It earned about $20 million in 2023 and opened its first café in Los Angeles this year. After supply delays in 2024, the company expects sales to grow 50% in 2025, topping $33 million. Chamberlain, who remains majority owner, has turned her image into a lifestyle brand rather than an ad-dependent channel.

Logan and Jake Paul:

Logan Paul has shifted from controversy to commerce. His Prime energy drink, co-founded with KSI, hit $1.2 billion in global sales in 2023. Demand later cooled after caffeine investigations and distributor lawsuits, particularly in the U.K., where sales dropped about 70% last year.

Logan still manages Maverick Apparel and W, a men’s grooming line, and operates Betr, a sports-betting app. His younger brother Jake Paul has moved into venture capital through Anti Fund, which has invested in firms such as OpenAI, Anduril, Ramp, and Cognition. Jake also runs his own grooming line and a combat sports media brand.

Together, the Paul brothers represent YouTube’s move from content monetization to multi-sector ownership.

Ryan Kaji:

Ryan Kaji, the 13-year-old behind Ryan’s World, remains one of YouTube’s highest earners. His toy and merchandise line, distributed by Walmart and Target, brought in roughly $250 million in 2020.

The brand has expanded into a television show, publishing, and an educational app, all managed by his family. Ryan’s World now functions like a children’s entertainment studio, making it one of YouTube’s most enduring businesses.

Rosanna Pansino:

Rosanna Pansino, known for her pop-culture baking tutorials, has turned her “Nerdy Nummies” concept into a durable business. Her product line includes cookbooks, baking tools, and kitchen accessories sold on Amazon and in major retailers.

Pansino’s strategy has become a model for other creators in the culinary space. Andrew Rea, known as Babish, launched Babish Cookware in 2021, while comedy duo Rhett & Link expanded into consumer goods with MishMash Cereal.

Michelle Phan:

Michelle Phan built one of YouTube’s first true creator empires. After gaining fame in 2007 for her makeup tutorials, she co-founded Ipsy, a beauty subscription service valued above $1 billion, and later launched EM Cosmetics, which continues to grow independently.

Phan’s early success showed that creators could build long-term companies by using their channels as launch platforms, not income sources — a blueprint the next generation would follow.

Huda Kattan:

Huda Kattan, founder of Huda Beauty, started uploading makeup videos in 2010. By 2024, her company was generating between $400 million and $500 million annually in sales.

She bought back the minority stake held by TSG Consumer Partners last year to regain full control of her brand. Kattan now oversees one of the world’s largest independent beauty companies, built entirely from her social media influence.

Other Creators Follow the Model

Several other YouTubers have followed similar paths. Jacksepticeye launched Top of the Mornin’ Coffee, while Philip DeFranco started Wake & Make Coffee, joining the wave of creators turning audiences into customers.

The trend has also spread to cookware, gaming, and education — all industries once dominated by traditional brands, now reshaped by creator-owned businesses.

YouTube as the Launchpad, Not the Product

YouTube remains central to discovery, but not to profit. For creators like MrBeast, Chamberlain, the Paul brothers, Kaji, and Kattan, the platform is now a marketing engine for their broader companies.

Advertising revenue may still exist, but it no longer defines success. The new model is ownership — of products, data, and audiences — and it’s reshaping what it means to be a YouTuber in 2025.

Also Read: Elon Musk Says Tesla’s Optimus Could ‘Eliminate Poverty’ After Record $1 Trillion Pay Approval

Awasthi confirmed his departure in a LinkedIn post, thanking Elon Musk and colleagues for what he called “an incredible run.” He said he was proud to have worked on the Model 3, the Shanghai Gigafactory, and the Cybertruck, but offered no reason for leaving or indication of his next move. His profile now lists him as “Ex-Tesla.”

Cybertruck registrations in the U.S. sank about 63% in the third quarter, to nearly 5,400 vehicles, according to state data. It’s a steep slide for a pickup once billed by Tesla as a quarter-million-unit juggernaut — and now struggling to match that early hype.

The decline follows two major recalls in 2025:

• In March, roughly 46,000 units were recalled after trim panels risked detaching while driving.

• In October, another 6,200 trucks were recalled due to faulty off-road light bars.

Dealers in several states have since been offering discounts of $3,000 to $10,000, a rare move for Tesla vehicles, suggesting unsold stock is building.

The Cybertruck — unveiled in 2019 with bold promises and broken windows — has struggled to meet expectations. Its stainless-steel construction adds cost and weight, limiting range and production speed. Analysts say it has become one of Tesla’s most expensive programs, with unclear profit margins and uneven demand despite strong brand recognition.

Awasthi’s exit is the latest in a line of senior departures. Earlier this year, software executive David Lau left for OpenAI, along with multiple engineering leads in Tesla’s battery and robotics divisions. Insiders describe growing strain inside Tesla as new projects, including robotaxis, the Optimus humanoid robot, and the next-generation compact EV, compete for the same engineering resources.

Recent workforce studies add to the picture. Data from Moorepay places Tesla’s average employee tenure at 2.4 years, among the shortest in the tech-auto sector. Analysts warn that turnover in core programs like Cybertruck could delay future updates and limit scalability.

Awasthi’s tenure at Tesla covered some of its most aggressive phases of growth — from the Model 3 ramp-up to the launch of Giga Shanghai and the first Cybertruck deliveries. His departure leaves a leadership gap in one of Tesla’s most public projects.

The company has not named a successor or commented on his exit. The next head of the Cybertruck program will have to tackle quality issues, manage costs, and rebuild confidence in a vehicle once described by Musk as “the future of trucks.”

Whether the Cybertruck can recover its early hype now depends less on its stainless-steel panels and more on Tesla’s ability to prove it can still execute — even as its key people move on.

Also Read: Elon Musk Says Tesla’s Optimus Could ‘Eliminate Poverty’ After Record $1 Trillion Pay Approval

Under the draft plan released on Monday, firms whose stablecoins are widely used for payments will need to keep strong reserve backing. They will be allowed to place up to 60% of their reserves in short-term UK government bonds, with the rest held in cash or other highly liquid assets to ensure that redemptions can be met at any time.

The central bank said it wants stablecoins to be safe, fully backed, and easy to convert into pounds, so they can be used confidently in everyday transactions. The proposal follows months of work by UK regulators to build a permanent framework for digital money and payment tokens.

To limit risk during the early phase, the BoE suggested temporary limits on holdings. Individuals could hold up to £20,000 (about $26,000) in a single systemic stablecoin, while companies could hold as much as £10 million (around $13 million). Officials said the caps would be lifted only when they are confident that large-scale use of stablecoins would not threaten financial stability.

Deputy Governor Sarah Breeden said the rules are designed to make sure new forms of digital money are “as reliable as the money people use today.” She added that the UK is working closely with regulators in the United States and Europeto maintain consistent standards as stablecoins become more common in cross-border payments.

Only stablecoins considered “systemic” — those with the potential to affect the wider UK financial system — will come under the Bank of England’s direct oversight. Smaller or trading-focused tokens will continue to be supervised by the Financial Conduct Authority (FCA) under lighter conditions.

The central bank’s consultation is open until 10 February 2026, after which it will review responses and publish final guidelines later in the year. The new framework is expected to take effect by late 2026.

Stablecoins have grown rapidly in recent years and now play a major role in global crypto markets, where they are used for payments, lending, and settlements. Regulators worry that poorly backed coins could trigger losses for users or destabilize payment networks if confidence falls.

In the UK, the government wants to encourage innovation in digital finance but within strict boundaries. The BoE said its proposals aim to make stablecoins “trustworthy forms of private money” while ensuring that any firm offering them can survive sudden withdrawals or price shocks.

Crypto industry groups have warned that high reserve requirements and holding limits could slow adoption and make the UK less competitive as a hub for digital assets. But supporters say clear rules will finally let stablecoin firms operate within the regulated financial system rather than at its edge.

Also Read: XRP Set for New Rally as Ripple Ends SEC Dispute and Expands Global Use

Key Points

Mumbai — Eyewear retailer Lenskart Solutions Ltd., backed by SoftBank Group Corp., made a nervous start on its first day of trading in Mumbai, moving sharply between losses and small gains after one of India’s largest public offerings this year.

Founded by Shark Tank India judge Peyush Bansal, the company raised ₹72.8 billion ($821 million) through its initial public offering. The sale was oversubscribed 28 times, mostly by large funds, but the stock still opened below its issue price before climbing to ₹412, about 2.5 percent higher. By late morning, it was holding steady around that level.

The mixed start came down to one key concern — price. At its offer level, Lenskart was valued at roughly 238 times its last fiscal year’s profit, far above the BSE Consumer Discretionary Index’s average multiple of 42. That steep difference led several brokerages to call the offer too expensive. Ambit Capital began coverage with a sell rating, saying that even though Lenskart runs a solid business, “the current price leaves little room for near-term growth.”

Market veteran Shankar Sharma from GQuant said that while the company’s brand and reach are impressive, investors “may have already paid for the next few years of growth.”

The share sale attracted several major foreign investors, including funds run by JPMorgan Chase, Nomura, Amundi, HSBC, and the Government of Singapore. Domestic mutual fund DSP also bought in and later defended its decision after online criticism, describing Lenskart as a “profitable and scalable business” but admitting the entry price was high.

Lenskart was started in 2010 and now runs more than 2,500 stores in India, along with operations in the Middle Eastand Southeast Asia. It serves about 20 million customers a year and manages much of its own manufacturing and logistics, helping keep margins stable.

The listing adds to a busy year for Indian markets. Companies in the country have raised close to $16 billion through new share sales in 2025, making India the fourth-largest IPO market in the world. Strong local liquidity and an expanding pool of retail investors have made large offerings more common, and upcoming issues from Groww’s parent Billionbrains Garage Ventures and fintech firm Pine Labs are expected to draw similar attention.

After listing, Lenskart’s market value was around ₹700 billion ($8.4 billion) — higher than that of Colgate-Palmolive India, United Breweries, Page Industries, and Procter & Gamble Hygiene and Health Care. The comparison shows how quickly newer consumer technology brands are catching up with long-established consumer goods companies.

Some fund managers say that to justify that size, Lenskart will need to show steady profit growth and prove it can expand abroad without losing margins. “Investors like the story,” said a Mumbai-based portfolio manager. “Now it’s about showing consistent numbers, not just reach.”

By midday, Lenskart shares traded at ₹411.80, leaving the company valued near ₹700 billion, a figure few Indian startups have reached within 15 years of launch.

Also Read: Indian Stock Investors Can Now Follow Live Earnings Calls on Perplexity

Key Points

Treasury Secretary Scott Bessent says President Donald Trump’s idea of giving Americans a $2,000 “dividend” might not be a check at all, but rather a collection of tax breaks designed to lift take-home pay.

Trump hinted at the plan over the weekend, saying most Americans — excluding top earners — would receive at least $2,000 under his economic program. The remark stirred questions about whether the administration was planning a direct payment.

Bessent downplayed that idea, explaining that the benefit could appear through several tax adjustments instead. “It could come in a lot of forms,” he said. “We’re looking at no tax on tips, overtime, or Social Security income — and restoring deductions like auto loans.”

The proposal folds neatly into Trump’s larger argument that his tariffs are paying off. The administration claims that revenue from the import duties, some as high as 50%, is helping to offset the cost of tax relief and may even contribute to paying down the national debt, which now sits around $37 trillion.

Critics say the tariffs have driven up prices for consumers, but Trump insists they’re necessary to protect American industries and bring balance to U.S. trade. He’s warned that overturning them — something now being considered by the Supreme Court — would undo key parts of his economic plan and erase the revenue that supports it.

The court is reviewing whether Trump’s April “Liberation Day” tariffs overstepped presidential authority. If the justices rule against him, hundreds of billions in duties could be voided and refunded, striking at one of his central second-term policies.

Bessent framed the tariff policy as part of a broader plan to reward work rather than spending. “The point isn’t just collecting money,” he said. “It’s about fair trade and giving everyday Americans a break on their taxes.”

Economists watching the administration’s moves say the “dividend” language is more political than fiscal. Rather than creating a new stimulus program, the White House appears to be positioning the tax changes as proof that tariff revenue benefits ordinary workers — not just the federal budget.

If that approach holds, Americans might never see a $2,000 check in their mailboxes. Instead, they could notice a little more left in each paycheck — and that, in Trump’s view, may be dividend enough.

Also Read: India and Israel Sign Defense Technology MoU Focused on Joint Production and Research

Key Points

Ripple’s cryptocurrency XRP has been part of the digital asset market for more than a decade, but its real potential is only now beginning to unfold. Originally created to make global payments faster and cheaper, XRP was designed to solve a practical problem rather than just exist as another speculative coin. For years, however, its progress was slowed by legal battles and unclear regulations that kept many investors on the sidelines.

The biggest turning point came when Ripple finally settled its long-running case with the U.S. Securities and Exchange Commission. After nearly five years of uncertainty, courts ruled that Ripple’s sales of XRP to large institutions had violated securities laws but ordinary transactions had not. Ripple agreed to pay a fine and both sides withdrew their appeals, putting an end to one of the most damaging clouds hanging over the company. With the legal issue behind it, Ripple has regained the freedom to focus on expanding its technology and partnerships, and that has already boosted market confidence.

At the same time, the overall environment for cryptocurrencies in the United States has improved. Lawmakers are now setting clearer rules for how digital assets are defined and traded, rather than treating the industry as a gray area. Banks have been allowed to develop digital asset custody services, and new regulations are encouraging responsible blockchain innovation. The shift in tone from enforcement to structure has given companies like Ripple a better chance to grow within the financial system instead of being treated as outsiders.

Institutional investors are also starting to show serious interest in XRP. Although Ripple can no longer sell tokens directly to them, large financial institutions are finding ways to gain exposure through exchange-traded funds and derivatives. Several applications for XRP ETFs are already under review, and early trading data in futures markets suggests strong demand. If these funds are approved, institutional participation could add significant liquidity and credibility to XRP, which would likely have a positive impact on its price.

Ripple’s biggest strength remains the usefulness of its technology. RippleNet allows banks and payment providers to send money across borders in seconds, cutting out the long waiting times and high fees that come with traditional systems. Its On-Demand Liquidity feature uses XRP as a bridge between currencies, removing the need for institutions to maintain reserves in multiple countries. Major players such as Santander, PNC, and American Express have already tested or adopted parts of Ripple’s system. Beyond payments, the XRP Ledger is gaining traction for asset tokenization, stablecoin settlements, and decentralized finance projects. Each of these adds real demand for XRP, giving it value beyond speculation.

If the current momentum continues, XRP could be in a strong position heading into the next major crypto cycle around 2029. With the lawsuit resolved, friendlier regulations in place, and growing institutional and commercial use, XRP has a chance to reach new highs—possibly above $10 if adoption deepens. That outcome depends on consistent network growth and broader participation from banks and investors, but for the first time in years, the path forward looks clear. Ripple has endured its hardest years and emerged stronger, with a technology that serves a genuine purpose and a market that is finally ready to support it.

Also Read: Ripple Partners With Mastercard and Gemini to Use RLUSD Stablecoin for Credit Card Settlement

The agreement was finalized during the annual meeting of the India–Israel Joint Working Group (JWG) on defense cooperation, held in Jerusalem, Israel’s Ministry of Defense said in a statement.

New Agreement Focuses on Co-Development and Local Manufacturing

The latest MoU updates earlier defense cooperation frameworks and sets out a plan for joint design, production, and testing of advanced military systems.
Officials from both governments said the arrangement will streamline technology transfers and allow select Israeli systems to be built in India, reducing delivery times and production costs.

Amir Baram, Director General of Israel’s Ministry of Defense, said the updated pact moves the partnership from policy discussions to practical execution.

“Our cooperation with India is now centered on tangible projects — technology, manufacturing, and training,” Baram said after the signing in Jerusalem.

The framework builds on existing partnerships in missile systems, drones, and electronic warfare, where Israeli firms have worked with Indian public and private-sector companies for more than a decade.

Industry Engagement and Joint Development

During the JWG session, the visiting Indian delegation held discussions with senior executives from Israel’s major defense firms — Rafael Advanced Defense Systems, Israel Aerospace Industries (IAI), and Elbit Systems.

These companies already operate several joint ventures in India producing missile systems, unmanned platforms, and communication gear, and are expected to scale up production under the new framework.

According to officials, the talks also included presentations of next-generation Israeli defense technologies and plans for joint R&D projects in areas such as artificial intelligence, electronic warfare, and autonomous systems.

Possible Link to India’s Mission Sudarshan Chakra

The timing of the agreement coincides with India’s announcement of Mission Sudarshan Chakra, an initiative to develop an integrated air and missile defense network.

Analysts said Israel’s experience with systems such as Iron Dome, David’s Sling, and Arrow-3 could inform parts of India’s effort, particularly in radar integration and interceptor design.

No specific projects were confirmed, but India’s Ministry of Defence said cooperation in “emerging defense domains” remains a central part of bilateral talks.

High-Level Diplomatic Coordination

The MoU was signed in Jerusalem while Israel’s Foreign Minister Gideon Sa’ar was in New Delhi for meetings with External Affairs Minister S. Jaishankar.
Sa’ar said both countries are working toward a long-term strategic framework built on defense and technology collaboration.

He thanked India for its diplomatic support during Israel’s recent conflict with Hamas and noted that both countries “face similar threats from terrorism.”

The two ministers also reviewed joint participation in the I2U2 alliance — comprising India, Israel, the UAE, and the United States — and discussed progress on the India–Middle East–Europe Corridor (IMEC), a regional connectivity project linking trade and technology networks.

Defense Collaboration Over the Years

Israel has become one of India’s top three defense suppliers, accounting for about 13% of India’s defense imports between 2018 and 2023, according to the Stockholm International Peace Research Institute (SIPRI).

Major cooperative projects include:

• Barak-8 surface-to-air missile system, co-developed by India’s DRDO and Israel’s IAI.

• Heron TP unmanned aerial vehicles, operated by India’s armed forces.

• SPICE precision-guided munitions, used by the Indian Air Force.

The new agreement builds on these programs by expanding joint research and localized production for potential export to third countries.

MoU Targets Joint Production and Technology Integration

Officials said the MoU emphasizes shared production pipelines rather than new weapons contracts, linking Israeli design expertise with India’s expanding defense manufacturing base.

In practical terms, this includes integrating Israeli guidance and electronics systems into Indian-built missile platforms, expanding co-production at facilities in Hyderabad, Nagpur, and Pune, and establishing new assembly lines for air-defense interceptors.

Two officials familiar with the discussions said a proposal is under review for a joint testing site in southern India, where radar and sensor components could be evaluated jointly under field conditions.

Both governments are also exploring a maintenance and upgrade program for Israeli-origin equipment already in Indian service, including drones and surveillance systems.

Rather than a ceremonial move, the MoU functions as an implementation roadmap designed to shorten approval cycles and remove bureaucratic hurdles that have slowed joint ventures in the past.
A senior Israeli defense industry source said the framework “formalizes what has been happening quietly for years, giving it the legal and political backing to move faster.”

Also Read: Nvidia Receives Dozens of Site Offers for Planned AI Campus in Israel

Key Highlights of Tesla’s Optimus Robot

At Tesla’s annual shareholder meeting in Austin, Texas, CEO Elon Musk outlined one of his most ambitious predictions yet: that his company’s humanoid robot, Optimus, could end poverty and make working optional.
The remarks came just minutes after shareholders approved Musk’s $1 trillion performance-based pay package, the largest in U.S. corporate history.

Musk Links Optimus to Economic Transformation

Musk said the Optimus program, still in the design and prototype stage, could one day perform the majority of human labor — allowing people to live comfortably without jobs.

“There’s only one way to truly eliminate poverty, and that’s with the Optimus robot,” Musk told shareholders.
“In a benign future, everyone will have a universal high income, and work will become optional.”

Musk said the robots could increase the global economy’s output tenfold — possibly even a hundredfold — once they enter mass production.
He described Optimus as a “force for good” capable of reshaping the balance between labor, productivity, and wealth creation.

Optimus: From Stage Demo to Core Tesla Project

Tesla first introduced Optimus in 2021 as a humanoid robot concept designed to perform repetitive or dangerous physical tasks.
Early prototypes, demonstrated over the past year, have been shown walking, sorting objects, and mimicking human gestures.
At the shareholder meeting, Tesla presented a short clip of Optimus performing simple movements, such as dancing and distributing candy to employees.

According to Musk, each robot will eventually cost between $20,000 and $30,000, a price point he claims would make them accessible to factories, businesses, and even households.
He said that in time, Tesla could sell up to one million units per year, forming a new pillar of the company’s revenue alongside electric vehicles and autonomous systems.

Shareholders Endorse Musk’s Vision

The same meeting that featured the Optimus pitch also saw investors approve Musk’s record pay deal.
The package, which ties Musk’s potential earnings to company milestones rather than cash payouts, could unlock as much as $1 trillion in Tesla stock if the automaker meets aggressive performance goals.

The compensation plan was originally adopted in 2018 but was paused following legal challenges. Tesla’s board revived the proposal this year, warning that losing Musk’s leadership could jeopardize the company’s future.
Roughly 75% of shareholders voted in favor of reinstating the plan, signaling strong confidence in Musk’s long-term direction.

‘AI That Can Work’

Musk contrasted Optimus with existing artificial intelligence models, saying that while AI software can enhance human productivity, embodied AI — robots that can physically operate in the world — could multiply it exponentially.

“There’s a limit to how much AI can help people work faster,” he said. “But there’s almost no limit to what AI can do when it can work itself.”

Tesla’s humanoid project uses technology derived from its Autopilot and Full Self-Driving software, allowing Optimus to interpret surroundings and navigate autonomously.
Musk has said the company’s next generation of AI chips and neural networks will be trained to control millions of robots operating in real-world environments.

A Future Without Work — and Its Risks

Musk described a “benign” version of the future, in which AI and robotics make scarcity obsolete and every person receives a “universal high income.”
But he also acknowledged the transition could be disruptive, saying that while abundance was possible, the path to it would be “traumatic and uneven.”

He even joked that Optimus could redefine law enforcement:
instead of imprisoning criminals, future robots might “follow you around and stop you from doing crime.”

Economists and technologists remain skeptical of such timelines.
Experts note that building reliable humanoid robots capable of general tasks is still years — if not decades — away, with Tesla’s prototypes performing only limited, preprogrammed actions.

AI and robots will replace all jobs.

Working will be optional, like growing your own vegetables, instead of buying them from the store.

— Elon Musk (@elonmusk) October 21, 2025

Tesla Turns Its Factory Into a Robotics Test Lab

Musk said Tesla is using its own production lines to train and refine the Optimus robots, turning the Austin Gigafactory into a testing ground for mechanical learning.
Early units have been seen moving parts and performing basic assembly movements alongside human workers.

He explained that Tesla’s car-making software — the same system that helps vehicles interpret surroundings for Autopilot — is being adapted to teach robots how to balance, recognize tools, and repeat motions safely.
By using live factory data, the company hopes to speed up how quickly the robots learn new physical tasks.

The most difficult challenge, Musk said, remains hand control. Engineers are still working on actuators and grip sensors that can handle small components with precision and durability.
Once that system is reliable, Musk said, Optimus will be ready for limited deployment inside Tesla’s own facilities before being sold publicly.

“Optimus is already doing light work in our plants,” Musk said. “When it can safely handle complex tools, we’ll move to production.”

Also Read: Elon Musk Wins Shareholder Approval for $1 Trillion Tesla Pay Plan

The restored licenses will allow CHS, Louis Dreyfus Company Grains Merchandising, and EGT to resume soybean shipments. Beijing suspended their permits in March when trade tensions between the U.S. and China escalated.

The log import suspension was introduced after President Donald Trump ordered an investigation into lumber shipments on March 1. Friday’s announcement effectively removes that restriction.

Market confidence picked up earlier this week after Trump met with Chinese President Xi Jinping in South Korea. Both leaders signaled they were open to dialogue on trade, calming fears that negotiations might collapse.

Following the meeting, China reduced duties on several U.S. farm goods imposed in March and began limited purchases of American crops, including two cargoes of U.S. wheat.
The state-owned grain trader COFCO also booked three soybean shipments from the U.S. shortly before the leaders met.

Even so, a 10% tariff on all U.S. imports — including agricultural products — remains in place. The tax continues to limit trade volumes, but Friday’s steps suggest both governments are testing a gradual path toward normalization.

Also Read: China Delays Rare Earth Rules, Commits to Multi-Year U.S. Soybean Purchases

Key Points

Nvidia chief executive Jensen Huang said Friday that the company has no immediate plans to resume chip sales in China, closing the door for now on speculation that its new Blackwell processors might reach the Chinese market.

Speaking in Taiwan, Huang told reporters there were “no active talks” about reviving business with Chinese partners. “At this point, we’re not shipping anything to China,” he said. “It will depend on when the Chinese side is ready to see Nvidia products back in their market.”

His comments come amid rumors that Washington and Beijing’s recent cooling of trade tensions could allow Nvidia to reenter China with restricted hardware. But even as both governments signaled a thaw last month, U.S. President Donald Trump reiterated that Nvidia’s most powerful AI chips must stay with American firms and won’t be exported.

Huang has been open about how deeply U.S. restrictions have cut into Nvidia’s operations in China. In earlier remarks, he said the company’s local business had effectively disappeared, dropping from “about 95% share to zero” within a year.

“For planning purposes, we assume nothing from China,” Huang said at a Citadel Securities forum. “If that changes, it’ll just be upside for us.”

During last week’s GTC developers conference in Washington, Huang added that Chinese officials had made it clear they were not ready for Nvidia’s return. “I hope that position changes,” he said.

Nvidia shares slipped roughly 1.4% in early trading on Friday, extending a five-day decline of about 9% alongside other major technology stocks.

Also Read: Nvidia CEO Jensen Huang Clarifies Comment After Saying China Could Win AI Race

Major firms such as Animoca Brands, Gemini, Consensys, and TRON are moving ahead with public listings, while others like Ripple and Tether continue to operate privately.

Animoca Brands Plans Nasdaq Listing

Hong Kong-based Animoca Brands is preparing to go public in the United States through a reverse merger. Under the current proposal, Animoca shareholders would hold about 95% of the new entity, which would trade on Nasdaq.

The merged company will focus on digital asset investment, gaming, and blockchain software. Animoca’s move reflects a broader trend of Web3 firms seeking deeper access to U.S. capital markets, which offer higher liquidity and investor protection than Asian exchanges.

Consensys Prepares IPO With Major Banks

Consensys, the company behind the MetaMask wallet and Ethereum’s core infrastructure tools, is reportedly working with JPMorgan and Goldman Sachs to lead its planned IPO.

The firm has raised over $725 million from investors including SoftBank, BlackRock, and Mastercard. Its 2022 valuation stood at $7 billion, while private market estimates in mid-2025 put it closer to $10 billion.

Consensys’s listing would mark one of the first major public offerings by a blockchain infrastructure provider, expanding the scope of crypto IPOs beyond exchanges and trading platforms.

Gemini Files for Nasdaq Debut

The Gemini exchange, founded by Cameron and Tyler Winklevoss, has filed registration documents with the U.S. SECto list on Nasdaq under the ticker GEMI.

The exchange plans to raise up to $400 million to fund compliance initiatives and product expansion. Gemini reported 523,000 monthly active users, $24.8 billion in trading volume, and $18.2 billion in assets during the first half of 2025.

Despite its growth, Gemini remains unprofitable, recording a $282.5 million loss in H1 2025. The listing will test investor appetite for crypto exchanges seeking public funding during a period of renewed regulatory oversight.

Figure Technology Completes Nasdaq Listing

Figure Technology Solutions, a blockchain-based lending firm, went public on September 11, 2025, trading under the ticker FIGR on Nasdaq.

The company reported $29.1 million in net income on $190.6 million in revenue in the first half of 2025, marking its first profitable year. Founded in 2018 by Mike Cagney, a former SoFi executive, Figure uses blockchain systems to originate and service loans and has funded more than $16 billion in consumer lending.

Cagney retains majority voting control following the listing, ensuring continuity in governance as the company transitions to public markets.

OKX Considers U.S. IPO After Regulatory Settlement

Global crypto exchange OKX is exploring a U.S. public offering after resolving a $505 million settlement with the Department of Justice over compliance violations.

The firm re-entered the U.S. market in April 2025, opening a new headquarters in San Jose, California, and appointing Roshan Robert, a Wall Street veteran, as its U.S. CEO.

A U.S. listing would provide OKX with access to institutional investors and help it compete more directly with American-listed rivals such as Coinbase.

FalconX Weighs NYSE Listing

Institutional brokerage FalconX is in early discussions to launch an IPO on the New York Stock Exchange. The firm was last valued at $8 billion during a 2022 funding round that raised $150 million.

The company provides trading, liquidity, and credit services to institutional clients. A listing would allow FalconX to raise additional capital for acquisitions and expand its product offerings to meet growing institutional demand for digital-asset exposure.

TRON Lists on Nasdaq After Reverse Merger

TRON became a public company in July 2025 through a $100 million reverse merger with SRM Entertainment. The newly formed entity trades under the symbol TRON on Nasdaq.

The deal granted TRON $210 million in tokens and allowed it to hold TRX as a treasury reserve asset — a first for a U.S.-listed firm. The stock declined about 5% on its first day of trading.

Founder Justin Sun remains involved through offshore entities. The listing follows the resolution of a prior SEC lawsuit that was settled earlier in 2025.

Bullish Exchange Completes Public Listing

Bullish, the digital-asset exchange backed by Peter Thiel, became publicly listed in August 2025 after previously canceling a SPAC deal in 2021.

Led by former NYSE president Tom Farley, Bullish positions itself as a regulated, institutional-grade exchange. The company had previously raised about $10 billion in funding and operates under the parent company Block.one, which raised $4 billion during its 2018 ICO.

Circle Begins Trading After IPO

Stablecoin issuer Circle, known for the USDC token, completed its long-anticipated IPO earlier this year. Shares, listed under CRCL, opened at $69, more than double their IPO price of $31, and closed the day up 168%.

The offering valued Circle at $6.8 billion before trading. CEO Jeremy Allaire said the listing supports the company’s goal of building “fully regulated and transparent stablecoin infrastructure.”

The successful debut could encourage other payment-based crypto companies to follow suit.

Bithumb Targets Kosdaq Listing

South Korea’s Bithumb, the country’s second-largest cryptocurrency exchange, plans to list on the Kosdaq by the end of 2025.

The company has regained market share after a prolonged downturn and now holds about 25% of South Korea’s trading volume. Bithumb is reorganizing into two entities — Bithumb Korea and Bithumb A — to streamline governance before the listing.

Samsung Securities will act as the underwriter. The company is also exploring a secondary U.S. listing to attract global investors.

Blockchain.com Strengthens Executive Team

Blockchain.com has appointed Justin Evans, formerly of Goldman Sachs, as Chief Financial Officer and Mike Wilcoxas Chief Operating Officer.

The company has not yet filed for an IPO but stated it is positioning itself for a public listing when market conditions become favorable. The hires indicate a gradual move toward compliance and audit readiness — key prerequisites for a U.S. listing.

Bitkub Plans Thai Stock Exchange Listing

Thailand’s largest cryptocurrency exchange, Bitkub, intends to go public on the Stock Exchange of Thailand in 2025.

The exchange controls about 77% of the local crypto market, processing roughly $30 million in daily volume. CEO Jirayut Srupsrisopa said the company plans to double its workforce to 4,000 employees before the listing.

Bitkub aims to strengthen its domestic presence as competition from international exchanges such as Binance and Upbitincreases across Southeast Asia.

Kraken Cuts Costs While Preparing for IPO

Kraken, one of the oldest U.S. crypto exchanges, has reduced its workforce by about 15% as part of a restructuring aimed at improving profitability ahead of a potential IPO.

Co-CEOs Arjun Sethi and David Ripley have focused on consolidating operations, trimming expenses, and expanding into derivatives and stock trading through acquisitions such as NinjaTrader.

The exchange is expected to file for a U.S. listing once market conditions stabilize and its earnings reach sustainable levels.

Ripple Confirms It Has No IPO Plans

Ripple Labs, valued at about $40 billion after a recent $500 million fundraising round, has confirmed that it does not plan to go public in the near term.

President Monica Long said Ripple has sufficient reserves and brand strength to operate privately. CEO Brad Garlinghouse reiterated that while a listing remains possible in the future, it is “not a priority” following the company’s recent legal settlement with the U.S. SEC.

Ripple remains one of the most capitalized private blockchain companies globally, focusing on international payments and partnerships with financial institutions.

Crypto Firms Turn to Public Markets for Credibility and Growth

After years of relying on private funding and venture capital, major crypto companies are taking their next step — going public. The move marks a clear shift in how digital-asset businesses raise money and build trust, especially as investors demand greater transparency after a decade of volatility.

Listing on major exchanges offers more than just capital. It gives crypto firms a way to prove stability, strengthen governance, and reach mainstream investors who have long stayed on the sidelines. The shift suggests that, for the first time, sustainable growth and compliance are becoming as critical to the sector as rapid innovation once was.

Also Read: Ireland Fines Coinbase $25 Million for Money Laundering Monitoring Failures

More than 75% of shareholders backed the proposal during the company’s annual meeting at its Texas Gigafactory. Musk took the stage to celebrate the outcome, joined by Tesla’s humanoid robots, and outlined his next steps to turn Tesla into a global force in artificial intelligence and automation.

Shareholders Approve Record Pay Plan

The compensation package ties Musk’s earnings entirely to Tesla’s long-term growth. To unlock the full payout, Tesla must achieve a market capitalization of $8.5 trillion, up from about $1.5 trillion currently.

Along the way, the company must meet operational goals such as producing 20 million vehicles annually, deploying 1 million robotaxis, and selling 1 million humanoid robots. Each milestone grants Musk 1% of Tesla’s stock, creating direct alignment between the CEO’s rewards and shareholder returns.

The adjusted value of the package — about $878 billion — reflects performance-based thresholds and stock price variations over time.

Musk Outlines New Projects and Expansion Plans

Following the vote, Musk announced several upcoming Tesla projects. He said the company expects to begin production of the Cybercab, a steering-free, fully autonomous taxi, next year. Tesla will also unveil its long-delayed next-generation Roadster, a high-performance electric sports car.

Musk added that Tesla may need to build its own AI chip fabrication plant to support its self-driving systems and robotics programs, possibly in collaboration with Intel.

“Tesla is no longer just a car company,” Musk said. “We’re building the infrastructure for an automated future.”

Institutional Investors Split on the Decision

The vote revealed a sharp divide among investors. While retail shareholders overwhelmingly supported the package, several major institutions — including Norway’s sovereign wealth fund — and proxy advisory firms ISS and Glass Lewis voted against it.

Critics called the package “excessive” and raised concerns about corporate governance, saying the plan gives Musk too much influence over the board.

Tesla’s directors defended the deal, arguing it ensures Musk’s focus remains on Tesla rather than his other ventures, such as SpaceX, xAI, and The Boring Company.

“The structure is designed to reward performance, not promises,” the board said in a statement.

Additional Votes Reinforce Board Oversight

At the same meeting, shareholders re-elected three Tesla board members and approved a move to hold annual elections for all directors — a shift toward greater transparency and accountability.

Investors also voted to allow Tesla to invest in xAI, Musk’s artificial intelligence startup. However, a high number of abstentions signaled unease about the overlap between Musk’s companies.

“Investors will expect the board to enforce strict guardrails around potential conflicts of interest,” said Jessica McDougall, a governance expert at Longacre Square Advisors.

Investors Back Musk but Expect Real Progress

The vote gives Musk the approval he wanted but also sets a higher bar for results. Analysts say shareholders are looking for evidence that Tesla can turn ambitious plans into measurable performance.

“Elon has secured investor confidence once more, but now he must deliver on production, profitability, and new product rollouts,” said Daniel Ives, senior analyst at Wedbush Securities.

Tesla is facing sharper competition, especially from BYD in China and Rivian and Lucid Motors in the U.S. Analysts say maintaining Tesla’s high valuation will depend on clear progress in scaling its software, robotaxi, and robotics businesses.

Tesla Faces Pressure to Deliver on Musk’s Promises

The approval locks Musk in as Tesla’s central figure, but it also raises the pressure to deliver results that match the hype. Investors now expect tangible progress on the company’s key promises — fully autonomous vehicles, a commercial robotaxi network, and humanoid robots ready for production.

Tesla’s stock has soared on Musk’s future-facing vision, yet much of that value depends on breakthroughs that remain unproven. Analysts say the coming year will test whether Tesla can scale these technologies beyond prototypes and into real revenue.

“Musk has secured the faith of his investors,” said Brian Mulberry of Zacks Investment Management. “Now the market will demand proof that Tesla’s ambitions can translate into execution.”

Also Read: Can Musk Become a Trillionaire? Tesla Investors Split Over $50 Billion Pay Deal

The regulator said Coinbase’s systems missed checks on more than 30 million transactions, worth around $202 billion, between 2021 and 2022. That figure accounts for roughly one-third of Coinbase’s total European activity during those years.

The missed reviews were traced to a coding error in Coinbase’s automated compliance software. Because of the glitch, many transactions that should have been screened for suspicious behavior were never analyzed.

After discovering the fault, Coinbase ran a retrospective review and reported 2,708 transactions—worth about $15 million—to Ireland’s Financial Intelligence Unit. Those cases were flagged as potentially tied to drug trafficking, child exploitation, or money-laundering activity.

A spokesperson for the Central Bank said the lapse exposed major weaknesses in Coinbase’s internal controls. “Financial institutions are expected to detect and report suspicious movements of money quickly and accurately,” the regulator said.

Colm Kincaid, the Central Bank’s deputy governor for consumer and investor protection, warned that the nature of cryptocurrencies makes them particularly attractive to criminals.

“Crypto’s speed, borderless design, and privacy features appeal to those moving illicit funds,” Kincaid said. “Firms in this sector must apply the same strict standards as traditional banks.”

Coinbase said the problem occurred when its monitoring system was first configured and insisted it was not deliberate. The company has since corrected the error, reported the overdue transactions, and removed accounts linked to the suspicious activity. Both Coinbase and the Central Bank said none of the transactions reviewed have yet been confirmed as criminal.

The fine still requires formal approval from Ireland’s High Court, which must sign off on large financial penalties before they can be enforced. Coinbase said it has worked closely with authorities throughout the investigation and strengthened its compliance systems to prevent a repeat failure.

The case is one of the most significant crypto-related enforcement actions in Europe to date. Regulators across the EU are tightening supervision of digital-asset platforms ahead of new rules under the Markets in Crypto-Assets (MiCA)framework, which will introduce uniform compliance standards across member states from 2025.

Ireland has become a European hub for several major exchanges because of its access to EU markets and English-language regulatory environment. The Central Bank’s decision shows that, even as Ireland courts fintech investment, it expects crypto firms to meet the same anti-money-laundering standards as established financial institutions.

Also Read: Stream Finance Stablecoin Falls 77% After $93M Fund Loss

Germany’s financial supervisor BaFin has fined JPMorgan Chase’s Frankfurt branch €45 million for delays in reporting suspicious transactions, the regulator said on Thursday.

BaFin found that the bank failed to submit several mandatory alerts between October 2021 and September 2022, as required under Germany’s money-laundering law. The agency said JPMorgan’s local systems did not ensure that suspicious cases were flagged and sent to the Financial Intelligence Unit (FIU) without delay.

The fine became legally binding on October 30. BaFin based the amount on the size of JPMorgan’s operations in Germany and the number of reporting failures.

German law requires banks to report potential money-laundering cases immediately so investigators can freeze or trace the funds. Penalties can be linked to a bank’s overall revenue if violations are considered systemic.

The €45 million penalty is BaFin’s largest on record, surpassing the €40 million fine against Deutsche Bank in 2015.

Germany has stepped up scrutiny of financial-crime controls since the Wirecard collapse in 2020, which exposed weak oversight of payment firms. Earlier this week, prosecutors arrested 18 suspects in a separate investigation into online-fraud and laundering networks using payment intermediaries.

A JPMorgan spokesperson said the issue related to earlier cases and that the late filings did not hinder any official investigations.

“We have improved our internal monitoring and reporting processes in Germany and are pleased the matter is resolved,” the spokesperson said.

BaFin said it is continuing inspections of banks in Germany to ensure compliance with anti-money-laundering requirements.

Also Read: Germany Launches Global Initiative to Counter Billion-Euro Online Scams

How the Card Works

The new OKX Card is linked to a user’s crypto account. Brazilian users can load the card with local currency (reais), which OKX converts automatically into U.S. dollar–based stablecoins. When a payment is made, Mastercard processes the transaction and the exchange deducts the equivalent amount from the customer’s balance.

Balances held in stablecoins earn up to 10% annual yield, OKX said.
The card also works with Pix, Brazil’s instant digital payment platform, enabling fast transfers between OKX accounts and local wallets.

Brazil Becomes a Test Ground for Crypto Payments

Brazil has become one of the most active markets for digital payments tied to cryptocurrencies. Its clear regulatory framework and widespread use of Pix make it attractive for exchanges offering crypto payment options.

By launching the card in Brazil, OKX is focusing on a country where digital currency use extends beyond investment — where crypto is often used for remittances and daily purchases.

Visa and Mastercard Dominate Issuer Partnerships

OKX chose Mastercard for its card program. Both Mastercard and Visa run dedicated frameworks that allow crypto exchanges to issue branded cards, but each operates differently.

Mastercard typically requires exchanges to hold larger reserve funds to guarantee liquidity and transaction coverage. Visa’s requirements are lighter, making it faster to launch but with fewer compliance safeguards.

Exchanges select their partner depending on capital capacity and local regulations. Binance, for example, previously issued a Visa prepaid card in Europe but later shifted to Mastercard when introducing its Brazilian program.

Why Exchanges Issue Cards

Crypto payment cards simplify spending digital assets without converting them to fiat manually.
When a cardholder pays, the exchange automatically sells the equivalent amount of crypto to cover the transaction.

This approach gives exchanges an additional way to keep users active on their platforms while offering customers a practical way to access their balances anywhere traditional cards are accepted.

OKX Looks to Expand Its Card Program Beyond Brazil

OKX said Brazil will be the first market for its Mastercard debit card, with plans to introduce the product in other Latin American countries once it assesses user demand and regulatory conditions.

The exchange said it chose Brazil because of the country’s established digital payment systems and high adoption of electronic transfers through Pix, which makes integration with crypto-linked cards easier.

Company officials said local feedback will guide how the card is adapted for additional markets in the region.

Also Read: Ripple Partners With Mastercard and Gemini to Use RLUSD Stablecoin for Credit Card Settlement

Huang’s comments drew attention after he was quoted as saying that “China is going to win the AI race,” a remark made on the sidelines of an AI industry summit. He reportedly pointed to China’s lower energy costs and fewer regulatory constraints as factors driving its rapid advancement in artificial intelligence.

Shortly after those remarks became public, Nvidia released a statement from Huang on social media, clarifying his position.

“As I have long said, China is nanoseconds behind America in AI,” Huang said. “It’s vital that America wins by racing ahead and winning developers worldwide.”

U.S. and China Remain Neck-and-Neck in AI

Huang has repeatedly described the AI race between the United States and China as being separated by “nanoseconds,” underscoring how closely matched the two nations are in computing power and innovation. He has argued that allowing Nvidia to sell its chips in China helps maintain American influence by ensuring China’s technology ecosystem remains tied to U.S. hardware and software.

That reasoning briefly gained traction in July when the U.S. government lifted restrictions on certain AI chip exports to China. However, the situation quickly changed as Beijing announced it would conduct a national security review of Nvidia’s chips, effectively halting their sale in the country.

Since then, Huang has confirmed that Nvidia’s market share in China has fallen to zero. Meanwhile, former U.S. President Donald Trump has reiterated that the company should not sell its most advanced chips to China.

China’s Policy Approach Gives It an Advantage, Says Huang

In his original comments, Huang suggested that Western nations — including the United States — are constrained by “cynicism” and heavy regulation surrounding artificial intelligence. He contrasted this with China’s approach, where the government offers energy subsidies that lower operational costs for companies developing or deploying AI models.

According to Huang, these policies allow China’s AI sector to scale faster and operate more efficiently, though he emphasized that American innovation still leads by a slim margin.

Nvidia’s Market Value Hits Record Levels

Nvidia has a major financial stake in the global expansion of AI. The company recently became the first in the chip industry to surpass a $5 trillion market capitalization, marking a new milestone for the sector.

Nvidia also announced a $1 billion investment in Nokia, part of its broader strategy to expand into telecommunications and networking technology.

The company’s shares have risen more than 41% this year, and are up over 1,200% in the past five years, driven by surging demand for its graphics processors that power most of the world’s AI training systems and data centers.

Huang Warns the U.S. Cannot Slow Down in AI Race

Huang said the United States still holds a narrow lead over China in artificial intelligence but cannot afford to slow its pace of development. He noted that China’s lower energy costs and strong state backing have helped its companies expand computing capacity faster.

He said America’s advantage lies in advanced chip design and research talent but warned that the lead could disappear without continued investment and policy support.

“The difference is measured in nanoseconds,” Huang said. “We have to keep pushing forward.”

Also Read: Top 3 AI Infrastructure Stocks Benefiting from Data Center Power Demands

Exactly how much your rates increase depends on several factors: the type of offense, your driving history, your location, and whether your insurer offers forgiveness for first-time infractions.

Here’s a breakdown of the five most common traffic violations in the U.S., how long they typically stay on your record, and how each can affect what you pay for car insurance.

1. Speeding: The Most Common and Costliest Slip-Up

Speeding is the most frequent traffic violation in the United States — and one of the easiest to avoid.
According to the National Highway Traffic Safety Administration (NHTSA), speeding contributed to nearly one-third (29%) of all U.S. traffic deaths in 2023.

When it comes to insurance, even minor speeding tickets can have a major impact.
If you don’t have ticket forgiveness, your premiums can rise 20% to 50%, depending on how much you exceeded the speed limit and your state’s point system.

High-speed offenses — like driving 20 mph or more over the limit — can result in sharper rate hikes and even temporary license suspensions in certain states.

Tip:
Many insurers allow you to offset a speeding ticket’s impact by taking a defensive driving course or maintaining a violation-free record for 12 months.

2. Running a Red Light: Cameras Don’t Miss

Red-light violations have surged with the rise of automated traffic cameras.
For example, Florida’s red-light cameras issued over 1 million citations between July 2023 and June 2024, according to state data.

A red-light violation typically raises insurance rates by 20% to 25%. But the type of ticket matters:

• Officer-issued tickets are classified as moving violations and affect insurance.

• Camera-issued tickets are treated as nonmoving violations in some states and may not impact premiums at all.

Did you know?
A red-light ticket often adds 1 to 3 points to your driving record, and repeat offenses could trigger a license suspension if you accumulate too many points.

3. Driving Under the Influence (DUI): The Most Severe Penalty

A DUI conviction carries lasting consequences beyond fines and court fees.
According to FBI arrest data, nearly 650,000 drivers were charged with DUI offenses in the 12 months leading up to October 2025 — a reminder of how widespread the issue remains.

Car insurance premiums after a DUI can double or even triple, increasing by anywhere from 30% to over 100%.
A DUI stays on your record for 3–5 years in most states, and up to 10 years in California and Nevada.

Some states also require a special filing known as SR-22 insurance, which proves financial responsibility and often comes with a hefty surcharge.

Extra insight:
Drivers convicted of DUI may also lose eligibility for accident forgiveness or safe-driver discounts — meaning long-term higher premiums, even after the violation drops off the record.

4. At-Fault Accidents: When Mistakes Hit Hardest

Causing an accident — especially one involving injury or major property damage — can cause your premiums to jump dramatically.
The NHTSA reports that over 2 million people are injured in crashes every year, while property damage costs exceed $140 billion annually across the U.S.

Insurance companies typically increase rates by an average of 50% to 60% after an at-fault crash.
However, your personal increase depends on the severity of the accident, your claim amount, and your insurance company’s policy.

Some insurers offer “accident forgiveness” for the first incident if you’ve maintained a clean record for several years — a perk worth checking in your policy terms.

Pro tip:
If you’re found partially at fault, your state’s fault laws (such as “comparative negligence”) determine how much of the damage you’re responsible for — and how much your premiums will increase.

5. Parking Tickets: Harmless, Until They’re Not

Parking violations are typically nonmoving offenses, meaning they don’t directly affect your insurance premiums.
But if left unpaid, these tickets can come back to haunt you.

Unpaid parking fines can lead to:

• Vehicle registration holds

• Driver’s license suspensions

• Negative credit reporting

And since credit scores affect insurance rates in many states, that unpaid $60 ticket could end up costing you much more over time.

Smart habit:
Many cities offer digital portals to track and pay tickets automatically — a simple way to protect both your wallet and your credit score.

Keeping a Clean Record Pays Off

A clean driving record does more than prevent rate hikes — it can earn you loyalty discounts, safe-driver bonuses, and lower deductibles over time.
According to Savvy Insurance Solutions, the lowest average premiums for drivers with no moving violations range from $130 to $190 per month, depending on the state.

Insurance companies also weigh your vehicle type, mileage, age, and ZIP code, so even safe drivers can benefit from periodically comparing quotes to ensure they’re getting the best rate available.

Also Read: NYC Congestion Pricing Kicks Off After Years of Delays

Ripple said the collaboration is designed to test how blockchain-based settlement can support faster fund transfers and clearer liquidity tracking between payment processors and issuing banks.

A company spokesperson said all partners are working “under a regulated framework” and will proceed only once U.S. financial regulators grant approval.

How the Integration Will Function

Under the plan, Mastercard’s network and WebBank, which issues the Gemini Credit Card, will use RLUSD to clear part of the transaction settlement process.
The front-end experience for customers will remain the same — users will still make payments in fiat — but the interbank clearing and settlement will occur through the XRP Ledger instead of traditional bank rails.

The project builds on an earlier partnership between Ripple and Gemini, which launched a crypto rewards credit cardtied to XRP earlier this year. That card allows customers to earn XRP tokens on purchases, rather than cash or points.

In this new pilot, all Gemini Credit Card products, including versions linked to Bitcoin and Solana, could eventually settle transactions in RLUSD on the XRPL once testing begins.

Ripple said using RLUSD for settlement could shorten clearing times from multiple business days to near real-time, improving liquidity between issuers and networks.

Stablecoin Structure and Oversight

RLUSD, Ripple’s U.S. dollar–backed stablecoin, launched in December 2024 on both Ethereum and the XRP Ledger. It now holds a market capitalization above $1 billion, making it the 11th-largest stablecoin globally, according to DeFiLlama data.

The token is regulated by the New York Department of Financial Services (NYDFS), with BNY Mellon serving as custodian for the dollar reserves.
Ripple has positioned RLUSD as a regulated settlement asset for banks, payment networks, and tokenized asset platforms.

In September 2025, RLUSD was added to Securitize’s institutional tokenization platform, where it began being used in the exchange of tokenized money market funds.

Mastercard and Gemini’s Role

Mastercard has spent several years testing blockchain settlement layers and tokenized deposits within its own network infrastructure.
The company said this collaboration with Ripple will help evaluate how regulated stablecoins can function within its settlement systems without altering how customers use their credit cards.

Gemini and WebBank will support the pilot’s banking and card issuance functions. Gemini’s credit cards currently offer rewards in several cryptocurrencies, and this pilot would add RLUSD as the settlement currency on the back end.

Ripple said the approach could give card issuers “greater transparency and faster reconciliation between institutions” while maintaining full compliance with U.S. financial rules.

Ripple’s Financing and Regulatory Position

Ripple recently secured $500 million in new capital at a $40 billion valuation, a funding round it said will help strengthen compliance operations and build regulated payment infrastructure in the U.S.
The company described the RLUSD pilot with Mastercard and Gemini as part of its plan to demonstrate that stablecoins can operate safely within existing banking rules, not outside them.

Unlike offshore stablecoins such as USDT, RLUSD is fully backed by U.S. dollar reserves held with BNY Mellon and operates under a license from the New York Department of Financial Services (NYDFS).
This structure allows the token to be used by banks and card issuers that cannot hold or settle transactions in unregulated assets.

Trading data showed XRP, the digital asset associated with Ripple’s settlement network, at $2.26, down 2.6% over 24 hours.
Ripple has repeatedly stated that RLUSD and XRP serve separate purposes: XRP functions as a bridge asset for cross-border transfers, while RLUSD is designed as a stable settlement currency for banks and payment firms.

If the Mastercard and WebBank integration proceeds, it would mark the first deployment of a U.S.-regulated stablecoin for mainstream credit card clearing, a development that could push other issuers to adopt similar on-chain settlement models.

Also Read: Ripple Escrows $1.5B in XRP as Token Turns 13 — Price Drops 7% in 24 Hours

Key Points

• Tesla shareholders are voting this week on Elon Musk’s $50 billion pay package.
• The plan would restore Musk’s stock options and raise his stake in Tesla.
• CalPERS and Norway’s sovereign wealth fund have opposed the proposal.
• The meeting also includes a proposed AI partnership with Musk’s xAI venture.
• The pay plan was previously overturned by a Delaware court for governance concerns.

Tesla investors are preparing to vote this week on a pay plan for chief executive Elon Musk that could give him tens of billions of dollars in stock if approved.
The package, one of the largest ever proposed for a public company executive, could lift Musk’s stake in Tesla close to 30% and further cement his control over the electric car maker he helped build.

The vote comes as Tesla faces slower sales, rising competition, and growing debate about Musk’s leadership style. Pension funds, analysts, and regulators are watching closely, calling it a test of how much power one individual should hold inside a company of Tesla’s size.

Shareholders to Decide at Annual Meeting

The decision will be made during Tesla’s annual shareholder meeting in Austin, Texas.
The pay plan was first introduced in 2018 and approved by investors at the time, but a Delaware court later cancelled it, saying the board that created it had too many personal ties to Musk.

Tesla’s directors are now asking shareholders to approve the same structure again.
If they do, Musk will regain stock options currently valued at about $50 billion, provided he meets a series of performance goals tied to the company’s financial results and market value.

Musk already owns roughly 15% of Tesla’s stock. The new award would nearly double his ownership and give him stronger control over major decisions, including product strategy and new investments.

How the Pay Package Works

Under the plan, Musk will not receive any salary or cash bonus. Instead, he will get stock options in twelve parts.
Each part becomes available only if Tesla meets a specific target — such as a jump in market capitalization, growth in profit, or an increase in production.

When the plan was first approved, Tesla was worth about $60 billion. Its value has since climbed to around $1.5 trillion, a rise that the company says validates the system.
If investors vote to restore it, the options could be reissued and exercisable over the next decade if Tesla continues to meet performance benchmarks.

Large Investors Oppose the Deal

Several of the world’s biggest funds have said they will not support the package.
The California Public Employees’ Retirement System (CalPERS) and Norway’s sovereign wealth fund, which together manage trillions of dollars in assets, have both urged a vote against it.

They argue that Tesla’s board is too closely linked to Musk and that the rewards are disproportionate.
Two independent advisory groups, Institutional Shareholder Services (ISS) and Glass Lewis, also recommended that investors reject the proposal.
Their reports warned that Musk already has more than enough incentive through his current ownership and that the plan “rewards past gains more than future performance.”

These critics say the issue is not only the amount of money involved but also the principle of accountability. Tesla’s board, they note, includes Kimbal Musk, Elon’s brother, and others who have long worked with him.

Supporters Credit Musk for Tesla’s Growth

Many investors, especially smaller ones, continue to defend the plan.
They point to Tesla’s global expansion, strong brand recognition, and leadership in electric vehicles as proof that Musk deserves the reward.

Ron Baron, founder of Baron Capital Management and a major shareholder, said Musk “built Tesla from nothing and changed the auto industry.”
He added that the plan does not pay Musk until results are delivered. “This isn’t a gift,” he said. “It’s a bet on continued success.”

Musk’s supporters often note that he has never taken a salary from Tesla and that his personal wealth rises or falls entirely with the company’s stock price.

What Musk Says About the Vote

Musk says he wants the package not for the money but for control.
He has told investors that he wants to expand his ownership to make sure Tesla stays aligned with his long-term vision, especially in areas such as artificial intelligence and robotics.

At a recent event, Musk said Tesla’s future depends on projects like the Optimus humanoid robot, which he claims could one day outnumber humans.
“I don’t want to lose influence over technology that powerful,” he said.

He has also hinted that if shareholders reject the plan, he may reduce his involvement with Tesla. “If people don’t think my contribution is valuable, I’ll spend my time elsewhere,” Musk posted on X.

How the Vote Could Play Out

Musk’s 15% stake in Tesla gives him a strong starting point, but not enough to guarantee a win.
Analysts expect the outcome to depend on how large institutional investors vote, since many individual shareholders are loyal to Musk and likely to back him.

Tesla’s share price has risen sharply in recent months, helped by renewed optimism about self-driving technology and the company’s data-focused business model.
However, the debate around Musk’s behavior — including his political comments and management of other companies like X and SpaceX — continues to divide investors.

Comparison With Historic Fortunes

If Tesla’s value keeps rising and Musk’s options are restored, his net worth could surpass $1 trillion, making him the wealthiest person in modern history.
By comparison, industrial tycoon John D. Rockefeller’s peak fortune in 1913 would equal about $630 billion today, according to Guinness World Records.

Musk’s current wealth is estimated at $493 billion, according to Forbes, already more than double that of the 19th-century magnate Cornelius Vanderbilt and steel baron Andrew Carnegie when adjusted for inflation.

Yet Musk’s wealth remains tied to Tesla’s volatile share price, which can swing billions in value within days.

Ethical Concerns Over Extreme Wealth

The proposed payout has attracted attention outside financial circles.
In a recent address, Pope Leo XIV referred to Musk’s compensation as a sign of widening inequality, warning that “if this is what society values most, we have lost perspective.”

Religious and civic groups have echoed those concerns, arguing that the gap between executive pay and worker income continues to grow across industries.
Tesla has not commented on those remarks but said its compensation structure reflects “risk and performance on a scale unmatched in modern business.”

Tesla’s Mixed Business Results

Tesla remains the world’s most valuable carmaker, but its recent performance has been uneven.
The company reported declining vehicle sales in several regions, including a 50% drop in Germany last month. Analysts say competition from Chinese manufacturers and slower global demand for electric vehicles have put pressure on margins.

Musk’s promises about self-driving cars have also run into delays. Tesla’s driverless taxis still require human safety monitors, and regulators in Europe have not yet approved its Full Self-Driving software.

At the same time, Tesla has achieved notable progress in battery production, energy storage, and cost reduction.
Despite weaker short-term results, its share price remains supported by investors who believe Tesla will ultimately transition into a data and AI company rather than just an automaker.

Investor Opinions Remain Divided

Investor sentiment is sharply split. Some view Musk as irreplaceable; others see his dominance as a liability.
Nancy Tengler, a Tesla owner and portfolio manager, said Musk often “pushes the company to the edge but manages to pull it back in time.”

That reputation for risk-taking has defined Tesla’s culture. Supporters call it vision; critics call it recklessness.
Either way, the company’s trajectory continues to depend on Musk’s decisions more than any other factor.

xAI Partnership, Board Seats Up for Vote

In addition to Musk’s pay package, Tesla’s shareholders will vote on whether the company can enter a limited partnership with xAI, Musk’s artificial intelligence venture.
The measure would allow Tesla to share select infrastructure and research resources with xAI, particularly in AI model training and in-car automation systems.

Some institutional investors have raised concerns about potential conflicts of interest, noting that Tesla’s Dojo supercomputer and vehicle data could indirectly benefit Musk’s privately held firm.
The board says any cooperation would follow “standard governance procedures” and remain subject to regulatory disclosure.

Shareholders will also vote on the renewal of several board members who have longstanding ties to Musk, a recurring issue among funds pressing for greater board independence.

What Follows the Shareholder Vote

If investors approve the pay package, Tesla will reissue Musk’s stock options and resume implementation under its Texas incorporation. That would also close the chapter on the Delaware ruling that previously invalidated the plan.

The company is expected to file the results with the U.S. Securities and Exchange Commission (SEC) shortly after the meeting. A favorable outcome could strengthen Musk’s authority and reduce short-term governance uncertainty, though analysts say investor focus will quickly return to vehicle demand, margins, and AI investments.

If the proposal fails, Tesla’s board will likely need to draft a revised compensation structure, potentially aligning it more closely with industry norms. Some funds have already indicated that a smaller, staged incentive plan would attract broader support.

Either result will influence Tesla’s leadership stability and its market perception. Approval would reaffirm investor confidence in Musk’s long-term vision; rejection could signal growing pressure for a more conventional governance model and stronger checks on executive power.

Also Read: Elon Musk May Quit Tesla if $1 Trillion Pay Plan Fails

What the New Law Covers

Under the proposal, issuers of fiat-backed stablecoins will be required to:

• Maintain adequate asset reserves matching their issued tokens.

• Provide transparent redemption policies for users.

• Implement risk and privacy safeguards for Canadians’ financial data.

• Comply with national security requirements to prevent misuse.

The government said these measures are designed to ensure that stablecoins used in Canada are “safe and secure for consumers and businesses alike.”

Bank of Canada to Oversee the Framework

To manage and enforce the new regime, the Bank of Canada will allocate $10 million over two years (starting in FY 2026–27) from its remittances to the federal treasury.
Afterward, ongoing supervision will cost about $5 million annually, covered by fees collected from licensed stablecoin issuers.

The budget also proposes amending the Retail Payment Activities Act to expand regulators’ authority over payment service providers that deal in stablecoins — giving the central bank a clearer mandate to monitor systemic risk.

Stablecoins Are Now 30% of Global Crypto Activity

Stablecoins have evolved from niche tools to a key pillar of crypto finance.
A TRM Labs report estimates they account for 30% of all crypto transactions, with global trading volume surpassing $4 trillion between January and August 2025 — an 83% year-over-year increase.
Most stablecoins are pegged to the U.S. dollar, with Tether (USDT) and Circle’s USD Coin (USDC) controlling the majority of the market.

Canada’s move puts it alongside the U.S., Hong Kong, and the EU, all of which have launched their own regulatory frameworks in 2025.

Industry Response: “Canada’s Answer to the U.S. GENIUS Act”

Canadian industry leaders have largely welcomed the decision.
Morva Rohani, Executive Director of the Canadian Web3 Council, called the measure “Canada’s answer to the U.S. GENIUS Act,” saying it could create a path for qualified innovators to issue stablecoins under federal oversight.

Crypto exchange Shakepay also praised the move, calling it “a big step forward for fintech and digital payments in Canada.”
A spokesperson said the focus now should be on “making sure the framework stays open and accessible, so Canadian fintechs can build trusted payment rails.”

Caution from Regulators and Economists

Despite optimism, not everyone is convinced.
The Bank for International Settlements (BIS) has repeatedly warned that stablecoins — especially those pegged to fiat currencies — could:

• Undermine central bank control over monetary policy.

• Increase capital flight from developing economies.

• Expose users to liquidity and transparency risks.

Canadian officials say these concerns justify proactive regulation before stablecoins become deeply embedded in the country’s payments system.

Ottawa’s Stablecoin Rules Aim to Close Canada’s Fintech Gap

The 2025 budget outlines Ottawa’s first concrete move to regulate fiat-backed stablecoins, giving the Bank of Canadadirect oversight of issuers and reserve management. The framework seeks to integrate stablecoins into Canada’s payments infrastructure while ensuring full backing and redemption rights for users.

Officials say the step is intended to close the regulatory gap with markets like the U.S. and European Union, where clear stablecoin laws are already in force. By setting national standards, the government aims to attract compliant fintech issuers and reduce reliance on foreign-backed digital assets circulating in Canada.

Following the disclosure, withdrawals and deposits were suspended. The company hired law firm Perkins Coie to investigate and help determine creditor claims.

“We are withdrawing all liquid assets and expect this process to finish soon,” Stream Finance stated on X.

According to PeckShield, the stablecoin fell from its $1 peg to about $0.50, and later to $0.26, where it currently trades, data from CoinGecko shows.

Over $285 Million in Linked Exposure

On-chain data from Yields and More (YAM) shows that Stream’s collapse has affected at least $285 million in assets across Euler, Silo, Morpho, and Gearbox lending platforms.

Major curators TelosC, Elixir, MEV Capital, and Varlamore are among the most affected.
YAM said settlements between holders of xUSD, xBTC, and xETH and their lenders could be difficult since these tokens were used as collateral across multiple platforms.

Secondary Tokens Under Pressure

DeFi projects with indirect exposure are also facing strain.
Elixir’s deUSD, which had lent 68 million USDC to Stream — about 65% of its reserves — is now at risk.
Treeve’s scUSD is also linked through rehypothecation chains, where the same collateral is reused across lending platforms, worsening liquidity stress.

High Leverage Behind the Collapse

An anonymous on-chain trader known as “Cbb0fe” warned days earlier that Stream’s balance sheet showed $170 million in backing assets against $530 million in borrowing, giving it a leverage ratio of more than 4x.

Stream used a recursive looping strategy, repeatedly lending and borrowing against its own tokens to earn yield spreads. The heavy leverage left the system unable to absorb losses once the fund manager’s assets went missing.

Unclear Insurance Fund and Transparency Issues

Community members found that Stream had been collecting an undisclosed 60% fee for an internal “insurance fund” that wasn’t properly separated from user strategies.

User chud.eth accused the team of poor disclosure.
Stream later admitted that the fund existed but said communication “was not as clear as it should have been.”

This lack of separation raised doubts about whether the fund could cover any of the current losses.

Largest Creditor Starts Withdrawal

Elixir, Stream’s top creditor, said it holds full redemption rights at $1 per token and has begun withdrawing its lending position from the protocol.

Analysts say this may reduce Elixir’s exposure but could worsen liquidity shortages at Stream and make asset recovery more difficult.

Human Oversight Still a Weak Point

Deddy Lavid, CEO of blockchain security firm Cyvers, said the case shows that even decentralized systems depend heavily on human supervision.

“When external managers or off-chain operations fail, users still bear the risk,” Lavid said.

Aftermath and Ongoing Investigation

Stream Finance has frozen all activity while law firm Perkins Coie conducts an investigation into the $93 million loss and the actions of the external fund manager responsible for managing user assets.
The protocol stated it is withdrawing all remaining liquid assets and reviewing exposure across its xUSD, xBTC, and xETH products.

Several DeFi protocols, including Elixir, Treeve, Euler, and Morpho, have begun assessing their own exposure to the incident due to interconnected lending positions.
Stream said creditor priorities will be determined after the investigation, and that user funds remain temporarily inaccessible until the assessment is complete.

Also Read: Stablecoin Payments Surge 70% After U.S. Regulation, Businesses Lead Growth

Key Highlights of the Stellantis Jeep Recall

Stellantis has announced a major global recall affecting around 375,000 Jeep Wrangler 4xe and Grand Cherokee 4xe plug-in hybrid SUVs, citing a potential battery-related fire risk. Owners are being urged to park their vehicles outsideand refrain from charging them until a software and hardware remedy becomes available.

The recall includes 2020–2025 Jeep Wrangler 4xe and 2022–2026 Jeep Grand Cherokee 4xe models. The company said the fix is currently in its final validation phase and will be offered free of charge once approved by regulators.

Fire Incidents and Scale of the Recall

Stellantis confirmed 19 fire incidents associated with the affected vehicles, including one injury. Roughly 320,000 unitsare registered in the United States, with the rest located across Europe, Canada, and Asia-Pacific markets.

The company said most fires occurred while the vehicles were parked and turned off, underlining a potential battery pack defect rather than a driving-related issue. The recall marks one of Stellantis’ largest safety actions for plug-in models since the Jeep 4xe lineup debuted in 2020.

Root Cause and Supplier Involvement

The high-voltage batteries in question were manufactured by Samsung SDI, a key supplier to several global automakers. An internal investigation by both companies determined that separator damage within certain lithium-ion cells—combined with complex electrochemical interactions—can lead to thermal runaway under specific conditions.

This same defect type was identified earlier in 2024 when Stellantis recalled 154,000 plug-in Jeep vehicles. The company has since expanded diagnostic testing and introduced enhanced cell quality monitoring for future battery batches.

Repeat Repairs and Safety Advisory

Stellantis noted that some vehicles previously repaired under earlier recall campaigns will require another fix, as recent fire reports show that software updates alone may not fully eliminate the underlying risk.

Until the corrective parts and updated software are available, the automaker continues to advise owners not to charge the vehicles and to park away from buildings or enclosed areas.

The National Highway Traffic Safety Administration (NHTSA) is monitoring the recall rollout to ensure compliance and transparency in customer notifications.

Stellantis Investigation

Stellantis confirmed that its internal investigation, conducted alongside battery supplier Samsung SDI, traced the fire risk to separator damage within certain battery cells used in Jeep Wrangler 4xe and Grand Cherokee 4xe models. The company said a permanent repair procedure is being finalized and will be rolled out through dealerships in coordination with regulatory authorities.

Vehicles repaired under previous recalls in 2023 and 2024 will also receive updated software and battery diagnostics to ensure safety compliance. Stellantis is notifying affected owners directly and offering free inspection and repair services once the fix is approved. The automaker emphasized that these actions form part of its broader effort to enhance quality control in its electrified vehicle production lines.

Stellantis Response and Recall Process

Stellantis said it is working with Samsung SDI to finalize a verified repair process addressing the battery defect identified in Jeep Wrangler and Grand Cherokee 4xe models. The company plans to begin notifying owners later this month, followed by a phased repair rollout through authorized Jeep dealers.

According to documents submitted to U.S. safety regulators, Stellantis will provide free battery inspection, replacement if required, and updated software to prevent future incidents. Vehicles repaired during prior recalls will also undergo re-evaluation to confirm that previous fixes remain effective.

The automaker stated that the recall procedure is being coordinated with the National Highway Traffic Safety Administration (NHTSA) and that detailed service instructions will be issued once testing of the corrective measure is complete.

Also Read: Tesla Recalls Over 63,000 Cybertrucks Due to Excessive Front Light Brightness

Key Points

• • Bitget launched a zero-interest institutional loan program for altcoin market makers.
• • Eligible firms can borrow up to 2 million USDT by reaching 50% of Bitget’s trading volume targets.
• • The program operates from November 1, 2025, through January 31, 2026.
• • Loans include up to 5× leverage, with liquidation triggered at 90% loan-to-value ratio.
• • Altcoin liquidity remains weak as Bitcoin dominance approaches 60%.

Crypto exchange Bitget has introduced a $2 million interest-free credit plan for professional market makers trading altcoins. The three-month initiative aims to improve liquidity in lower-volume crypto pairs and encourage stable trading conditions amid a cautious market backdrop.

Simplified Credit Access for Institutions

The program, running from November 1, 2025, to January 31, 2026, allows approved firms to borrow up to 2 million USDT without interest.
Participants qualify by meeting just half of Bitget’s standard monthly trading-volume target, lowering the entry barrier for quantitative trading groups and liquidity providers active in smaller-cap tokens.

Each approved account can use up to 5× leverage on borrowed funds. Bitget applies an automatic liquidation rule at a 90% loan-to-value ratio, ensuring credit risk remains contained while traders operate with flexibility.

Liquidity Pressure in Altcoin Markets

The announcement follows a period of weak trading depth across many altcoin pairs.
Market data shows Bitcoin’s dominance close to 60%, with altcoin volumes lagging.
The Altcoin Season Index stands at 27 out of 100, meaning fewer than one-quarter of top altcoins have outperformed Bitcoin over the past 90 days.
More than $300 million in upcoming token unlocks through mid-November are expected to tighten liquidity further.

Bitget said the zero-interest structure gives professional traders room to add liquidity and narrow price spreads in markets where volatility has limited participation.

Simpler Terms Than Rival Platforms

Bitget’s program requires no collateral lockup and offers credit directly in user accounts — a setup designed for active market makers.
The 5× leverage ceiling matches OKX’s institutional loan structure and exceeds Binance’s 4× cap, giving Bitget a stronger appeal among firms that manage multiple altcoin portfolios.
The lower qualification threshold — 50% of the usual trading volume requirement — makes the program easier to access than comparable institutional financing schemes.

Focus on Institutional Liquidity Providers

The exchange said it will prioritize quantitative firms and registered market-making companies trading altcoin pairs on its platform.
By offering credit without upfront costs, Bitget aims to reduce the funding strain that limits participation in smaller crypto assets and to stabilize trading activity as the industry adjusts to slower retail inflows.

Also Read: Bitget Launches Instant, Fee-Free Crypto Payments for Global Transactions

The new system, launched Monday, will be integrated into SLB’s existing suite of digital applications and platforms. Telaenables users to interact through a conversational interface and can operate either autonomously or in collaboration with human experts. Its functions include interpreting well logs, predicting drilling challenges, and optimizing equipment performance.

Rakesh Jaggi, SLB’s President of Digital & Integration, said the company views artificial intelligence as a core component of its long-term growth.

“We’ve been very successful with our AI initiatives over the years, and digital will remain an integral part of SLB’s success for decades to come,” Jaggi told Reuters.

SLB’s Tela platform embeds AI directly into its oilfield software, allowing operators to automate analysis, anticipate drilling problems, and improve equipment performance.

SLB’s digital segment has become one of its fastest-growing divisions, with revenue climbing 11% in the third quarter compared to the previous quarter. The company began reporting its digital business as a standalone unit earlier this year and expects double-digit annual growth for the segment moving forward.

Also Read: Google and Reliance to Offer Free 18-Month AI Pro Access to Jio Users in India

Key Highlights

Alphabet Inc., the parent company of Google, has issued senior unsecured notes in both the U.S. dollar and euro bond markets as part of a multi-tranche offering. According to Moody’s Ratings, Alphabet plans to use the proceeds for general corporate purposes, which may include repaying portions of its existing debt.

The offering marks Alphabet’s renewed access to global debt markets, following its €6.75 billion ($7.87 billion) euro bond sale in April 2025 — its first euro-denominated issuance.

This latest transaction positions Alphabet among several major U.S. technology companies seeking to diversify funding sources amid a period of elevated capital expenditure. The company continues to invest heavily in cloud infrastructure, data centers, and artificial-intelligence computing systems, areas that have required expanded financing across the sector.

Comparable activity in the tech sector

Alphabet’s debt sale follows similar actions by other large technology firms. In recent months, Oracle issued roughly $18 billion in new bonds, while Meta Platforms raised close to $30 billion through multiple tranches. These offerings indicate sustained investor appetite for investment-grade technology debt, even as long-term yields remain above pre-pandemic levels.

Credit standing and balance sheet

Alphabet maintains one of the strongest credit profiles in the global corporate market, with ratings of Aa2 from Moody’s and AA+ from S&P. The company continues to hold substantial cash reserves and minimal leverage relative to cash flow, allowing flexibility to fund operations and long-term projects without compromising liquidity.

The company’s main revenue drivers — Google Search, YouTube, and its advertising division — provide stable cash generation. Meanwhile, Alphabet’s Google Cloud and Gemini AI initiatives continue to represent a growing portion of its capital allocation priorities.

Capital Market Positioning

Alphabet issued bonds in both U.S. dollars and euros to capture investor demand across two of the world’s most liquid markets. The structure lets the company secure funding at competitive rates while matching currency exposure to its global revenue streams.

Euro-denominated debt remains comparatively cheaper due to lower regional yields, giving Alphabet an incentive to raise a portion of funds in Europe while retaining access to deep U.S. credit markets.

The company’s AA-rated credit profile and over $110 billion in cash reserves suggest the move is strategic rather than defensive — aimed at optimizing its long-term cost of capital rather than addressing liquidity needs. By locking in fixed-rate borrowing ahead of potential rate fluctuations in 2025, Alphabet continues its practice of conservative, opportunistic financing.

Also Read: Google to Build $15B AI Data Center in India’s Visakhapatnam

Sonic (S): Network Upgrade Adds Fee Subsidies, Security Fixes

The Sonic network is set to release version 2.1.2 of its mainnet and testnet — an update that will introduce native fee subsidies and key security improvements. These changes aim to enhance network performance and user reliability, potentially restoring investor confidence after a difficult month.

At press time, S trades near $0.1299, roughly 25% below recent highs but holding above the critical $0.128 support. The RSI indicates oversold conditions, often a sign of possible short-term stabilization.

If market sentiment improves following the upgrade, a rebound toward $0.159–$0.176 is plausible. However, sustained weakness below $0.128 could push Sonic lower, testing $0.112 or even $0.100, signaling that sellers remain dominant.

THORChain (RUNE): Version 3.12 Update Builds Trader Anticipation

Developers at THORChain are finalizing their V3.12 upgrade, though specific details remain undisclosed. The secrecy has fueled speculation among traders, many anticipating improvements to liquidity and performance.

RUNE’s price has slipped around 13% over the past week, currently trading close to $0.809. Technical indicators — including converging Bollinger Bands — point to an upcoming volatility spike.

A bullish reaction to the update could lift RUNE beyond $0.855, with room to challenge $0.951. Conversely, if the rollout disappoints or broader market pressure continues, the token could retest $0.765, deepening recent losses.

Sky Network (SKY): Buyback Vote Tests Market Confidence

Sky Network’s community has approved a new Executive Vote that increases daily buybacks to 300,000 USDS and allocates 500 million SKY to the treasury for staking incentives. The move is aimed at balancing supply, encouraging participation, and strengthening token demand.

After losing nearly 8% this week, SKY is testing support near $0.0545. A rebound from this level could send the token toward $0.0559 and $0.0575, erasing recent declines. But if sentiment stays muted, a slip below $0.0545 may drag the asset toward $0.0536, extending its downtrend.

Market View

Traders are watching whether real network progress can outweigh the caution that dominated October.

• Sonic’s 2.1.2 rollout will show if steady technical delivery can pull the token out of an oversold zone.

• THORChain’s V3.12 release, still short on public details, is a test of investor confidence in a project that relies on liquidity depth.

• Sky Network’s governance shift measures how far internal reforms can go in supporting price stability without a broader market tailwind.

Each of these updates carries direct implications for liquidity, staking yields, and user participation — factors that tend to move prices more than short-term hype. Whether those fundamentals translate into lasting momentum will depend less on optimism and more on execution in the days ahead.

Also Read: 5 Simple Crypto Strategies That Anyone Can Use To Build Wealth

That’s what twin brothers Aaron and Austin Arnold, founders of Altcoin Daily, have been teaching millions of everyday investors online. Their message is simple: crypto investing doesn’t have to be risky or complicated if you follow a few smart rules.

Here are five simple strategies they say anyone can use — even total beginners.

1. Don’t Try To Time the Market — Invest Regularly

Trying to guess when to buy or sell is one of the biggest mistakes new investors make.
The Arnolds recommend putting in a small fixed amount every week or month, no matter the price — a method called dollar-cost averaging.

“It’s like planting seeds every season,” Aaron explains. “Some grow fast, some slow — but if you keep planting, you’ll always have something blooming.”

This habit smooths out the ups and downs. You’ll buy some coins when prices are high, some when they’re low, and over time, your average cost evens out. It’s steady, stress-free, and proven to work.

2. Keep Your Emotions Out of It

Crypto can be a rollercoaster. When prices rise, people rush in. When they fall, they panic.
The Arnolds say the key to long-term success is to stay calm and stick to your plan.

“Have your buy and sell points written down before you start,” Austin says. “Then follow them — no matter what social media or the news says.”

It’s the same mindset long-term stock investors use: emotion creates losses, discipline creates wealth.

3. Look at Market Size, Not Just the Price of a Coin

Many beginners get excited by cheap coins — thinking a $1 token will go to $100. But what matters more is the market cap, or total value of all coins in circulation.

For example, a $1 coin with a billion tokens is worth the same overall as a $1,000 coin with a million tokens.
In short: cheap doesn’t always mean opportunity.

Understanding market size helps you spot which projects are truly growing — and which ones just look flashy.

4. Only Invest What You Can Afford To Lose

Crypto’s potential is huge — but so are the risks.
The Arnolds suggest keeping your crypto investments small — around 1% to 5% of your total portfolio.

“Never use rent money or emergency savings,” Aaron says. “You should be able to hold through a downturn without panicking.”

That small but steady exposure lets you benefit if the market grows, but it won’t hurt your financial life if things go south.

5. Keep Learning — Knowledge Is Your Best Investment

The Arnolds believe the best crypto investors are the ones who never stop learning.
They compare today’s crypto world to the early internet — messy, exciting, and full of opportunities for those who understand what they’re getting into.

“The people who do well in the next 10 years,” Austin says, “will be the ones who take time to learn now.”

You don’t need to become a blockchain expert. Just keep up with trusted sources, follow credible analysts, and learn how new projects actually make money.
The more you know, the less likely you are to fall for hype.

Slow and Steady Wins in Crypto

Building wealth in crypto isn’t about chasing the next big coin — it’s about building smart habits.
Small, regular investments. Staying calm. Understanding value. Protecting your money. Learning as you go.

These are the same timeless principles that build wealth anywhere — stocks, real estate, or crypto. The Arnolds’ advice works because it’s not about quick wins. It’s about building something that lasts.

“Crypto isn’t a lottery ticket — it’s a long-term opportunity. Treat it like that, and you’ll do better than 90% of people chasing shortcuts.”

Also Read: Michael Saylor Firm Raises STRC Dividend to 10.5 Percent

The move came after the company reported $3.9 billion in net profit for the third quarter, a sharp turnaround from a $432.6 million loss during the same period last year.

According to recent filings, the dividend increase is funded by revenue from Bitcoin sales and returns on digital-asset lending. Strategy currently holds about 640,800 BTC, purchased at an average of $37,850 per coin — now valued near $70 billion with unrealized gains of roughly $23 billion, data from SaylorTracker.com show.

Speaking with Mark Moss of Satsuma Technology Plc, Saylor said the STRC preferred stock remains “over-collateralized by historical Bitcoin profits,” allowing the firm to maintain steady payouts even when markets weaken. The company has lifted its dividend four times since early 2024 without adding new debt.

Bitcoin Firms Shed $18.8B in Market Value

Bitcoin ended October near $110,150, down 8 percent for the month. The decline erased about $18.8 billion from the combined market value of companies holding Bitcoin on their balance sheets, according to The Block.

The total capitalization of public Bitcoin treasuries fell from $142.4 billion to $123.6 billion, a 13 percent drop—nearly double Bitcoin’s own price decline.

Shares of Marathon Digital, Galaxy Digital, and Strategy Inc. slid between 11 and 17 percent, reflecting tighter liquidity and risk-off sentiment after the Federal Reserve signaled it may keep policy rates high through 2026.

Still, listed firms added 3,970 BTC during the month, increasing combined holdings to 804,680 BTC, worth about $438 million. It marked the fifth consecutive month of accumulation despite market pressure.

Best Wallet Nears $17M in Token Sale

Best Wallet Ltd., a digital-asset custody startup, has raised $16.8 million in its ongoing token sale, according to company disclosures. The BEST token is priced at $0.026 and the sale is expected to conclude later this quarter.

The firm says funds will support compliance integration ahead of the EU’s MiCA regulatory rollout and finance a pilot program with two licensed payment providers planned for early 2026.

Best Wallet’s platform offers multi-chain storage and multi-signature access controls, positioning it for use by regulated institutions and custodial service providers entering the digital-asset market.

Corporate Bitcoin Holdings Grow Despite Market Drop

Public filings show that five companies — Strategy Inc., Marathon Digital, Tesla, Galaxy Digital, and Hut 8 Mining — hold more than 80 percent of the Bitcoin owned by publicly listed firms. Strategy alone controls nearly two-thirds of that total.

Despite an 8 percent decline in Bitcoin’s price during October, total corporate holdings rose by 0.5 percent, marking the largest monthly increase since May 2024. The uptick came alongside fewer miner liquidations and a rise in corporate wallet transfers to cold storage, suggesting firms continued to accumulate rather than sell.

By lifting its STRC dividend rather than cutting exposure, Strategy signaled confidence in its Bitcoin position and reliance on realized gains to maintain payouts. None of the major holders reported any significant sales in October, indicating that most corporate Bitcoin reserves remain intact despite price volatility.

Also Read: Bitcoin vs. Zcash: Which Cryptocurrency Is the Smarter Buy in 2025?

Key Highlights

• Profit Surge: Berkshire Hathaway posted $30.8 billion profit in Q3 2025 — a 17% rise from last year’s $26.3 billion.
• Operating Strength: Core operating earnings grew to $13.49 billion, driven by robust insurance results.
• Insurance Recovery: Underwriting profit reached $2.37 billion as claims dropped and premiums rose.
• Leadership Transition: Warren Buffett confirmed he will step down as CEO in January 2026 but stay as chairman.
• Next in Line: Greg Abel, Vice Chairman, will assume full CEO duties following Buffett’s transition.
• Record Cash Pile: Berkshire’s cash reserves hit a new record at $381.7 billion.
• Major Acquisition: The company completed a $9.7 billion deal for OxyChem, its largest purchase in recent years.
• Stock Valuation: No share buybacks this quarter; Buffett views current valuation as still high.
• Utility Pressure: Utility profits declined nearly 9% to $1.49 billion due to rising costs.
• Stock Movement: Berkshire’s Class A shares closed at $715,740, down from this year’s peak of $812,855.

Berkshire Hathaway posted a solid profit gain in the third quarter as its insurance business rebounded from last year’s storm losses and investment income improved. The results come just months before Warren Buffett hands over the chief executive’s role he has held for nearly six decades.

The company reported earnings of $30.8 billion, or $21,413 per Class A share, up from $26.3 billion, or $18,272 per share, a year earlier. Operating profit — which reflects results from Berkshire’s many subsidiaries — rose to $13.5 billionfrom $10.1 billion a year ago.

Insurance Turnaround and Calm Storm Season

A quieter hurricane season helped Berkshire’s insurers deliver stronger results. Insurance-underwriting profit climbed to $2.37 billion, about $1.6 billion higher than last year, when major storms hurt results. The company also booked $331 million in currency gains on overseas debt, compared with a $1.1 billion loss a year earlier.

Record Cash and a Major Deal

Even after spending $9.7 billion to buy Occidental Petroleum’s chemical unit OxyChem, Berkshire’s cash hoard reached a record $381.7 billion at the end of September. The firm has not repurchased any of its own shares for five straight quarters, signaling Buffett still sees limited bargains in the market.

Change at the Top

Buffett, who turns 95, will step down as chief executive in January. Vice-Chair Greg Abel, who oversees Berkshire’s non-insurance businesses, will take the top job. Buffett will stay on as chairman and continue to shape investment decisions.

Berkshire’s Class A shares ended the quarter at $715,740, below the record $812,855 reached in May, when Buffett told shareholders of his plan to pass leadership to Abel.

Mixed Business Performance

Profits at Berkshire’s utilities dropped about 9 percent to $1.49 billion, hurt by higher costs and lower demand. Its railroad, manufacturing, and retail businesses reported steady results.

Berkshire continues to keep its communications minimal, releasing results on Saturdays and avoiding the earnings calls that most public companies hold.

End of an Era

Buffett’s move to step back marks a turning point for one of the most closely watched companies in the world. Since taking control of Berkshire in 1965, he has turned it from a textile maker into a sprawling enterprise that owns Geico, BNSF Railway, and major stakes in Apple and Coca-Cola.

With Greg Abel’s promotion taking effect in January, Berkshire begins a new phase — still flush with cash, still profitable, and still shaped by Buffett’s approach to investing quietly and thinking long-term.

Also Read: Warren Buffett Donates Record $6 Billion in Berkshire Shares — Biggest Gift of His Lifetime

The letter, sent on Thursday and signed by Representatives Jimmy Panetta, Ami Bera, Salud Carbajal, and Julie Johnson, called on the president to suspend the September 19 order titled “Restriction on Entry of Certain Nonimmigrant Workers.” The new rule significantly raises the cost of hiring foreign professionals and adds tighter restrictions on visa applications.

“The H-1B programme is vital for the U.S. economy, our national security, and our relationship with India,” the lawmakers wrote. “The new fee and restrictions will only push away the talent that keeps America competitive.”

The H-1B visa allows U.S. companies to hire skilled professionals from other countries in fields such as engineering, information technology, medicine, and scientific research. Indian nationals make up nearly 71 percent of all H-1B visa holders, and many of them work in key American companies, universities, and startups.

Congressman Ami Bera, who co-chairs the Congressional Caucus on India and Indian Americans, said the new fee would discourage top professionals from applying and hurt sectors like artificial intelligence, cybersecurity, and biotechnology.

“At a time when other countries are working hard to attract skilled talent, the United States should not be putting up barriers,” Bera said.

Congressman Jimmy Panetta said the new policy will harm smaller companies the most. “Startups and research institutions depend on international talent to grow. A $100,000 fee will shut them out completely,” he said. “This rule doesn’t protect American workers — it only makes innovation harder.”

The lawmakers also warned that the decision could affect U.S.–India relations, which have grown stronger in technology, defense, and education. They said Indian professionals contribute not only to American innovation but also to community life and local economies across the United States.

“Inviting skilled workers from India has always strengthened our democratic partnership,” the letter said. “Restricting that exchange will send the wrong signal to a trusted ally.”

The Trump administration has argued that the higher fee will protect U.S. workers by discouraging companies from relying on foreign labor. But many experts and business groups disagree. They say that American firms use H-1B visas mainly to fill jobs that are hard to find locally, such as advanced engineering and computer science roles.

Economists also warn that the new rule could lead to higher costs for businesses, delayed projects, and even job lossesin industries that depend on specialized talent. Technology companies have already expressed concern that the U.S. might lose its competitive edge if top talent chooses to move to other countries like Canada, the U.K., or Australia, where immigration rules are more welcoming.

Several organizations, including chambers of commerce and research institutions, have called for the rule to be withdrawn or modified. They argue that instead of imposing steep fees, the government should focus on improving oversight, preventing visa misuse, and supporting training for both American and foreign workers.

The lawmakers’ letter ends with a direct appeal to President Trump to cancel the September 19 order and work with Congress on a fair reform plan that protects U.S. workers without harming the country’s long-standing advantage in science and technology.

“This is about keeping America strong in the industries that define the future,” the lawmakers wrote. “We need policies that attract talent, create jobs, and strengthen our global leadership — not drive it away.”

Also Read: Trump Introduces $1M Gold & $5M Platinum Investor Visas for U.S. Residency

President Donald Trump declared success after his first meeting with Chinese President Xi Jinping since returning to the White House in January. Speaking aboard Air Force One, Trump said both sides had “settled” one of the toughest issues between Washington and Beijing — access to China’s rare earth minerals.

Trump told reporters that China had agreed to suspend for one year a new round of export restrictions on critical minerals, which are vital for manufacturing fighter jets, semiconductors, and electric vehicles. “There’s no roadblock at all on rare earth,” he said. “That will hopefully disappear from our vocabulary for a little while.”

But while the White House framed it as a major breakthrough, the pause leaves existing restrictions intact. U.S. industries will still depend heavily on Chinese suppliers for core mineral inputs. The deal effectively buys time without changing the underlying dependency that has long shaped global supply chains.

Beijing Links Rare Earths to U.S. Export Policy

The one-year suspension came with strings attached. To secure the pause, Washington agreed to delay a planned expansion of its export blacklist — a move that would have barred thousands of Chinese firms from buying advanced U.S. technology.

This reciprocal step created a direct link between China’s control of mineral exports and U.S. curbs on high-tech goods — a connection that many in Washington view as a strategic setback.

“The Chinese rare earth restrictions were meant to deter the U.S. from tightening chip controls,” said Chris McGuire, a former National Security Council official. “By trading pauses, we’ve essentially accepted that linkage, and it favors Beijing.”

China’s negotiating stance underscored how deeply rare earths are intertwined with its geopolitical leverage. Despite Washington’s push to diversify supply, China still refines over 80% of the world’s rare earths, giving it unmatched influence over global production lines.

Muted Gains for Washington

The White House has not yet released a formal summary of the meeting, and U.S. Trade Representative Jamieson Greer admitted the outcome did not undo existing restrictions. “We’ve seen modest improvement in the flow of magnet-related materials, and we expect that to continue,” he said.

In exchange for Beijing’s pause, Trump rolled back several earlier measures, including the proposed 100% tariff hike on Chinese goods, penalties linked to the fentanyl trade, and docking fees on Chinese vessels entering U.S. ports. Those changes mean the average tariff on Chinese imports will fall to roughly 31%, according to Bloomberg Economics — well below levels on imports from Brazil and India.

The concessions may ease trade tensions temporarily but weaken Trump’s campaign to pull American manufacturing away from China. “It looks like a political truce rather than an economic victory,” one senior U.S. trade adviser said privately.

Legal Tests Could Undermine Trump’s Tariff Powers

Trump’s trade posture may face additional pressure from the courts. Next week, the Supreme Court will review whether his administration legally used the 1977 International Economic Emergency Powers Act to impose tariffs. Lower courts have already ruled that applying that law for trade restrictions exceeded presidential authority.

If the justices agree, much of Trump’s tariff regime — including those aimed at China — could be struck down, removing one of Washington’s key tools in ongoing trade negotiations.

Xi Extends China’s Leverage

While Trump emphasized his own victory, Xi Jinping came away with measurable gains. By agreeing to only delay new restrictions, not lift them, Beijing maintained its control over a critical segment of the global manufacturing chain.

Xi also secured U.S. delays on punitive measures related to fentanyl exports and maritime fees, both politically useful wins at home. The Chinese side issued a summary of the meeting the next day; the White House did not.

“China played this smartly,” said Wendy Cutler of the Asia Society Policy Institute. “Beijing gave away very little but extracted clear concessions. Trump may have claimed a win, but Xi dictated the terms.”

Industry Sees Little Change on the Ground

For U.S. defense contractors, automakers, and semiconductor producers, the rare earth bottleneck remains largely unchanged. Companies report that China’s licensing system continues to cause weeks-long delays for material approvals, while suppliers must file repeated paperwork for each shipment.

“Beijing may have delayed new restrictions, but it hasn’t loosened control,” said Nazak Nikakhtar, former Commerce Department official and trade lawyer. “They can still slow exports just by sitting on licenses.”

Even with the temporary pause, many Western manufacturers are racing to build alternative processing capabilities in the U.S., Australia, and Canada. But experts warn those efforts are years away from matching China’s efficiency and output scale.

Nvidia Chips Still Off the Table

Trump stopped short of allowing the sale of Nvidia’s new Blackwell AI chips to Chinese buyers, despite earlier suggestions he might do so. Trade representative Greer said the issue “wasn’t on the table right now,” while Nvidia’s CEO Jensen Huang expressed “cautious optimism” about eventual approval.

The Blackwell issue remains one of Beijing’s key demands, and it may re-emerge in follow-up meetings scheduled for 2026.

Short Pause, Long Shadow

The one-year truce offers short-term relief to industries caught between escalating export controls on both sides. But it may also entrench a pattern where Washington and Beijing repeatedly trade pauses for concessions without solving the structural problem: deep interdependence in technology and critical minerals.

“This was a truce about everything but rare earths,” said Wade Senti, president of Advanced Magnet Lab, a U.S. supplier to the defense industry. “Nothing fundamental has changed — the risks are the same as before.”

Also Read: US-China Trade Truce Brings Relief but Major Disputes Still Unsettled

Since April, OPEC+ — which includes members of the Organization of the Petroleum Exporting Countries and allies such as Russia — has raised output targets by about 2.7 million barrels per day (bpd), equivalent to roughly 2.5% of global supply. However, the group has slowed the pace of increases in recent months, adding only 137,000 bpd in both October and November after larger hikes earlier in the year.

Russia’s Sanctions Complicate Negotiations

The latest round of talks is taking place under the shadow of new Western sanctions on Russia, one of the bloc’s largest producers. Moscow may find it difficult to raise production further as restrictions tighten on its energy exports.

According to three sources, Saudi Arabia, Russia, the UAE, Iraq, Kuwait, Oman, Kazakhstan, and Algeria are set to support another 137,000 bpd increase for December. A fourth source, however, noted that some members are considering pausing output hikes entirely if demand signals weaken or logistical constraints worsen.

Officials from OPEC, Russia’s Deputy Prime Minister Alexander Novak’s office, and the Saudi government declined to comment ahead of the meeting.

Oil Prices Recover Slightly After Hitting Five-Month Low

Crude prices fell to a five-month low of around $60 a barrel on October 20, driven by fears of oversupply and slowing global demand. Prices have since rebounded to about $65 per barrel, supported by new sanctions on Russia and renewed optimism surrounding global trade negotiations.

Analysts say the modest recovery is unlikely to change OPEC+’s cautious stance. “Saudi Arabia and its OPEC partners will not raise production significantly unless there is clear evidence of a supply disruption,” said RBC Capital Markets’ Helima Croft in a note this week. Croft expects a 137,000 bpd increase, a forecast echoed by Rystad Energy, Commerzbank, and SEB.

The next OPEC+ meeting is scheduled for 1400 GMT on Sunday.

Also Read: OPEC+ Approves 137,000-Barrel Daily Oil Increase for November

Every four years, Bitcoin’s “halving” event cuts the number of new coins miners can create, slowing down supply growth. The most recent halving in April 2024 reminded investors why scarcity matters — fewer coins entering circulation usually means higher long-term value if demand continues to rise.

The biggest shift for Bitcoin came in January 2024, when the U.S. Securities and Exchange Commission (SEC)approved spot Bitcoin ETFs. These funds let people invest in Bitcoin through normal brokerage accounts without needing to handle the cryptocurrency directly.
Since then, financial institutions, retirement funds, and asset managers have started adding Bitcoin to their portfolios, treating it as a legitimate store of value.

Bitcoin also benefits from mass recognition and deep liquidity. It’s easy to buy, easy to sell, and backed by the strongest network of developers and exchanges in crypto. Unlike newer coins, Bitcoin’s infrastructure is stable and globally trusted, making it the first choice for long-term holders.

Zcash Offers Privacy, but Faces Legal Barriers

Zcash was built from Bitcoin’s open-source code but added one big difference — optional privacy.
It allows users to hide details of a transaction such as the sender, receiver, and amount. This is done using zero-knowledge proofs (zk-SNARKs), a complex cryptographic method that lets the system confirm transactions without revealing private information.

That makes Zcash valuable for users who care deeply about financial privacy. In fact, its price has surged by over 800% in the past six months, driven by renewed interest in privacy-based digital assets.

However, these same privacy features have made Zcash unpopular with regulators.
Governments argue that private transactions can be used to hide illegal activity, leading to stricter rules.
Countries like Japan and South Korea have banned privacy coins entirely, while the European Union plans to block them under new anti–money laundering laws expected to take effect by 2027.

Because of these policies, many major crypto exchanges have stopped listing Zcash.
That reduces its trading volume and limits how widely it can be used or held, making it harder for the coin to grow beyond its niche audience.

Both Are Scarce, But Only One Is Mainstream

While both Bitcoin and Zcash share the same 21-million-coin limit, their market positions couldn’t be more different.

Bitcoin has turned into a globally accepted digital asset backed by institutional money and strong public awareness. It continues to gain new investors every time regulators open new doors, such as ETF approval or government-backed research into digital currencies.

Zcash, on the other hand, is a specialized privacy coin. Its technology is impressive, but its user base is limited. Privacy remains important, yet most users prefer transparency when compliance and regulation are involved — especially as exchanges remove privacy coins from their platforms.

Zcash could still maintain a small but loyal following among people who value confidentiality. But without broad regulatory acceptance, it cannot match Bitcoin’s scale or accessibility.

Bitcoin Holds the Upper Hand

For long-term investors, Bitcoin remains the stronger and safer option.
Its scarcity, institutional support, and regulatory progress give it lasting credibility.
Zcash’s technology is innovative, but heavy restrictions and limited exchange access make it risky for mainstream adoption.

Bitcoin is now recognized by global investors, financial regulators, and asset managers as a reliable digital store of value.
Zcash may continue to appeal to a niche group, but it is unlikely to challenge Bitcoin’s dominance any time soon

Also Read: Bitcoin Leverage Nears $40 Billion Ahead of Federal Reserve Rate Decision

The partnership places Google in direct competition with Perplexity AI, which recently tied up with Bharti Airtel to provide free access to its paid Pro version. Both alliances signal how telecom networks in India are becoming a key entry point for global AI companies looking to reach large consumer bases.

Offer Details and Rollout Plan

The free plan includes full access to Gemini 2.5 Pro, Google’s top AI model, along with image and video generation tools (Nano Banana and Veo 3.1), extended features in Notebook LM for students and researchers, and 2 TB of cloud storage shared across Google Drive, Gmail, Photos, and WhatsApp backups.

The rollout will begin with Jio users aged 18–25, before expanding to all subscribers nationwide.
Google said the offer carries a total value of ₹35,100 ($396) — equivalent to 18 months of the paid plan, which normally costs ₹1,950 per month in India.

Enterprise and Cloud Partnership

Alongside the consumer offer, Google is deepening its enterprise partnership with Reliance.
Reliance’s new AI subsidiary, Reliance Intelligence, will act as a key partner for Google Cloud to promote Gemini Enterprise to Indian businesses. The plan includes access to Google’s Tensor Processing Units (TPUs) within India and the development of localized AI agents for business applications.

“Today’s collaboration will bring Google’s most advanced AI systems into everyday use across Indian consumers and companies,” said Sundar Pichai, CEO of Google and Alphabet.

At its August annual meeting, Reliance said it would jointly invest ₹8.55 billion ($100 million) with Google and Meta to build AI infrastructure through Reliance Intelligence, where Reliance holds a 70% stake.

India Becomes the Battleground for AI Platforms

The partnership arrives just as OpenAI prepares to make its ChatGPT Go plan free for all users in India starting November 4.
OpenAI, Anthropic, and Google have all expanded operations in the country this year, viewing India’s vast user base and growing digital economy as a critical market for testing and refining their AI platforms.

Earlier this year, Google offered a free one-year AI Pro subscription to Indian students, which ended in September. That pilot program helped the company gauge local demand for premium AI tools before the current Jio rollout.

Ambani’s Vision for AI in India

Reliance Chairman Mukesh Ambani said the goal is to ensure AI tools are available to all, not just large enterprises.
“Through our partnership with Google, we want to make India AI-empowered — where intelligent tools are part of daily work, learning, and innovation,” Ambani said.

The companies said the initiative will eventually extend beyond mobile users to cover small businesses and education institutions using Jio services.

Also Read: Gemini 2.5 Deep Think AI Model Now Available

Speaking to reporters aboard Air Force One, Trump confirmed that the two leaders “did discuss chips” but stressed that “we’re not talking about the Blackwell.” He added that Beijing and Nvidia would “keep talking” about access to less-advanced processors already cleared for sale.

U.S. Export Rules Still Intact Despite Trump-Xi Chip Talks

Trump’s clarification followed comments a day earlier suggesting he would review Nvidia’s product access to China. That earlier remark triggered a brief rally in chip stocks and pushed Nvidia’s market value past $5 trillion for the first time.

Investors had taken it as a sign that Washington might approve downgraded versions of Blackwell chips for Chinese buyers — a reversal of restrictions imposed in 2022 to limit China’s access to advanced AI hardware.

The Blackwell series, unveiled earlier this year, delivers several times the computing power of Nvidia’s current export-approved H20 chips. US officials have blocked sales of the top-end versions over fears they could enhance China’s military or surveillance capabilities.

Beijing Blocks Use of U.S.-Approved Nvidia Chips

Even where Washington has allowed exports, Beijing has discouraged state-linked firms and research labs from using Nvidia’s processors. Authorities have instead urged the adoption of domestic chips made by companies such as Huawei Technologies, citing data-security concerns.

“The president has licensed us to ship to China, but China has blocked us from being able to ship to China,” Nvidia Chief Executive Jensen Huang said this week in Washington. “They’ve made it very clear they don’t want Nvidia to be there right now.”

Unclear Framework for Future Sales

The Trump administration has approved limited exports of Nvidia’s H20 processors but has not disclosed shipment volumes or future licensing plans. Nvidia wrote down billions of dollars in expected revenue after earlier curbs and has since removed China from its official sales forecasts.

Trump has also proposed an unusual plan for the US government to take a 15 percent cut from Nvidia’s China revenue — a move without an established legal structure. “We’re sort of the referee,” he said of the talks with Xi. “But that’s really between China and Nvidia.”

Blackwell’s Future Still Unsettled

Trump previously said he might allow Nvidia to sell a reduced-performance version of the Blackwell chip, “30 to 50 percent slower” than the domestic model. Nvidia has not filed any export requests for such a product, and no technical details have been finalized.

The company argues that limited exports could help preserve US influence in global chip standards by keeping Chinese firms dependent on American systems. National-security officials, however, remain divided, with some warning that even downgraded Blackwell models could strengthen China’s AI sector.

Also Read: Nvidia Becomes World’s Most Valuable Company After Reaching $5 Trillion Market Cap

Zerohash’s Role in Mastercard’s Crypto Strategy

Founded in 2017 in Chicago, Zerohash builds software that allows banks and fintech firms to process stablecoin payments and tokenize traditional financial assets. Its platform manages the technical and compliance layers needed to convert dollars and other assets into blockchain-based tokens.

The company raised $104 million in September at a $1 billion valuation. Its investors include Interactive Brokers, Apollo Global Management, Point72 Ventures, and Nyca Partners. Zerohash’s institutional backing and regulatory status have positioned it as one of the most credible U.S.-based providers of crypto infrastructure—an appealing target for Mastercard as it expands its blockchain operations.

Mastercard’s Focus on Stablecoin Infrastructure

Mastercard has been testing settlement systems that use regulated stablecoins to clear transactions between banks and merchants. In 2021, it acquired blockchain analytics firm CipherTrace to strengthen compliance in digital-asset transactions. While parts of CipherTrace’s operations were later scaled back, its risk-monitoring tools remain integrated within Mastercard’s payment systems.

This year, Mastercard joined a working group with Robinhood and Kraken to explore how stablecoins could be applied to cross-border remittances and merchant settlements, reflecting its broader effort to prepare its network for regulated digital currencies.

Competition With Visa in Blockchain Payments

Mastercard’s pursuit of Zerohash comes amid intensifying competition with Visa over blockchain-based payment infrastructure. Earlier this year, Visa Ventures invested in BVNK, a South Africa–based firm that develops stablecoin payment rails connecting traditional banks with blockchain networks through a single API.

Mastercard had also explored a potential deal with BVNK but stepped back after Coinbase entered exclusive negotiations with the company, Fortune reported. Both payment networks are now moving to secure partnerships that could strengthen their positions in the emerging market for tokenized payments—an area expected to expand sharply over the next decade.

Mastercard, Zerohash Decline to Comment

Both Mastercard and Zerohash declined to comment on the ongoing talks, citing confidentiality around active deal discussions. Coinbase, which was previously linked to BVNK negotiations, also did not provide a statement.

People familiar with the matter said internal due diligence is continuing and that the discussions remain focused on how Zerohash’s technology could be integrated into Mastercard’s existing systems. The deal structure is still under review, and no announcement timeline has been set.

Also Read: Mastercard Launches AI Payment Tools with Agent Pay for Holiday Season

On Wednesday, Nvidia’s shares climbed to $207.86 in early U.S. trading, giving the company a total market capitalization of about $5.05 trillion. The surge pushed it past Apple and Microsoft, making it the world’s most valuable listed firm. Its valuation now exceeds the combined annual output of Japan and the United Kingdom, according to IMF data.

Nvidia’s Dominance in AI Hardware

Nvidia’s growth is fueled by insatiable global demand for its high-performance chips, which power everything from large language models to advanced data centers. Its processors—particularly the H100 and new Blackwell chips—have become essential infrastructure for companies building AI products, giving Nvidia an unmatched position in the global tech supply chain.

Industry analysts estimate that more than 90% of AI training workloads rely on Nvidia hardware, creating a near-monopoly in high-end computing. The company’s revenue has multiplied over the past two years, with margins far exceeding those of traditional semiconductor peers such as AMD and Intel.

$500 Billion in Long-Term Chip Orders

Nvidia disclosed it has received over $500 billion in confirmed chip orders from cloud providers, research institutions, and government agencies. These contracts, spanning several years, secure supply of its next-generation AI processors amid ongoing shortages.

Chief Executive Jensen Huang said most orders focus on Nvidia’s H100 and Blackwell architectures, which are optimized for large-scale AI training and inference. Analysts say the volume of advance bookings shows customers are locking in capacity early to avoid another wave of hardware scarcity.

Nvidia’s chips are also expanding into medical research, renewable energy modeling, and autonomous vehicle development, broadening its customer base beyond major cloud players like Amazon, Microsoft, and Google.

Strategic Partnerships and Investments

To consolidate its lead, Nvidia has announced several new partnerships and investments across key technology sectors.

• 6G Collaboration with Nokia: Nvidia will invest $1 billion to co-develop 6G network technologies, combining its GPU expertise with Nokia’s telecom infrastructure. Field tests with major mobile operators are expected by 2026.

• Autonomous Mobility with Uber: The company signed an agreement with Uber to design next-generation robotaxi systems, integrating Nvidia’s DRIVE platform for real-world deployment.

• U.S. Department of Energy Supercomputers: Nvidia will build seven AI supercomputers for federal research in climate modeling and energy innovation.

• $100 Billion Data Center Project with OpenAI: Nvidia plans to co-fund new AI data centers with a combined 10 gigawatts of compute capacity, dramatically expanding OpenAI’s ability to train and serve models at scale.

Trade Tensions With China Pose Ongoing Risks

Despite its dominance, Nvidia faces persistent challenges from U.S.–China trade restrictions. Washington’s export controls continue to block shipments of its most advanced GPUs to Chinese firms, forcing Nvidia to design compliant alternatives such as the H20 series.

In August, CEO Jensen Huang confirmed discussions with the Trump administration about developing export-approved chips that maintain partial access to the Chinese market. Beijing, however, has responded with countermeasures, limiting purchases of certain Nvidia chips—a move analysts interpret as leverage in ongoing negotiations rather than a permanent embargo.

The geopolitical standoff underscores Nvidia’s delicate balance between policy compliance and global demand, as both Washington and Beijing seek control over AI hardware supply chains.

Regulators Warn of Market Overheating

Global financial authorities, including the IMF and Bank of England, have cautioned that valuations in AI-related stocks may be outpacing real earnings growth. Nvidia’s price-to-earnings ratio remains among the highest in the sector, prompting concern about sustainability.

Yet, the company’s profitability and order visibility continue to reassure investors. Nvidia’s latest quarterly report showed record revenue growth and industry-leading operating margins—metrics that suggest the company’s current valuation, while steep, is underpinned by concrete demand rather than pure speculation.

Nvidia Takes Lead in Global Tech Rankings

Nvidia’s rise above Apple and Microsoft marks a major realignment in the global technology market. The company’s strength comes from its dominance in advanced computing hardware that underpins artificial intelligence, cloud infrastructure, and scientific research.

Its processors are now standard in data centers operated by Google, Amazon, and Microsoft, as well as in research projects involving healthcare, energy, and national defense. This broad dependence on Nvidia’s chips gives the firm an unmatched presence across the technology supply chain and highlights how central AI computing has become to the global economy.

Also Read: Nvidia Receives Dozens of Site Offers for Planned AI Campus in Israel

The lawsuit, filed Tuesday in the U.S. District Court for the Southern District of New York, accuses the Labor Department of overstepping its authority when it determined that Morgan Stanley’s deferred incentive compensation plan does not qualify as an employee pension plan under the Employee Retirement Income Security Act of 1974 (ERISA).

The plaintiffs — Steve Sheresky, Jeffrey Samsen, and Nicholas Sutro, all from Westchester County, New York — argue that the department’s opinion contradicts earlier federal court decisions that found similar compensation programs to be covered by ERISA.

Former Advisers Say Ruling Blocks Arbitration Claims

At the center of the case is how Morgan Stanley’s deferred pay program is classified under federal law. The advisers claim the Labor Department’s September 9 opinion effectively shields the bank from arbitration cases filed by former employees seeking to recover withheld compensation.

According to the lawsuit, the department’s stance allows Morgan Stanley to dismiss advisers’ arbitration claims as baseless and to seek reimbursement for legal costs, undermining the ability of ex-employees to challenge the company’s pay practices.

“The Department of Labor’s action is arbitrary, unlawful, and inconsistent with prior rulings,” the complaint states. “If allowed to stand, it will prevent hundreds of financial advisers from obtaining fair hearings on unpaid compensation.”

Lawyer Says Agency Overstepped Its Authority

Attorney Doug Needham of Motley Rice, representing the plaintiffs, said the lawsuit aims to reverse what he called a clear case of government overreach.

“This case is about accountability,” Needham said in a statement. “The Department of Labor went beyond its authority and issued a decision that benefits a powerful corporation at the expense of individual workers. The court needs to correct that.”

Morgan Stanley is not a defendant in this lawsuit. However, the plaintiffs allege that the bank has already used the Labor Department’s opinion in ongoing arbitration cases to weaken claims and avoid potential payouts.

Ongoing Legal Disputes With Former Advisers

Sheresky and Samsen are among a dozen former Morgan Stanley advisers who have previously sued the firm, claiming it failed to pay all deferred compensation owed to them after their departure. The new lawsuit targets the federal government’s involvement rather than the company directly, seeking to invalidate the agency’s advisory opinion under the Administrative Procedure Act, which allows courts to review actions by government agencies.

Legal analysts say the case could have broader implications for how the Labor Department interprets deferred pay programs across Wall Street. Many major financial firms use similar structures to retain employees and manage payouts tied to long-term performance.

If the plaintiffs succeed, the ruling could reopen arbitration claims that were previously halted or weakened by the Labor Department’s opinion.

Court to Review Legality of Labor Department’s Opinion

The lawsuit will now proceed in the U.S. District Court for the Southern District of New York, where judges will weigh whether the Labor Department acted outside its authority when issuing the advisory opinion favoring Morgan Stanley.

If the court sides with the former advisers, the agency could be forced to retract or revise its decision — potentially reopening arbitration cases that have been stalled or dismissed because of the ruling.

The case, Sheresky et al. v. U.S. Department of Labor et al. (Case No. 25-08935), is expected to test how far federal agencies can go when intervening in disputes involving private employers and deferred compensation.

Also Read: CFPB Formally Ends Biden-Era Registry for Non-Bank Financial Offenders

This would be the third rate cut of the year, continuing the Fed’s effort to support growth while inflation remains under control. Traders have already factored the move into prices, with most predicting a small cut rather than a pause.

Fed Acting Without Full Economic Picture

Normally, the Fed bases its policy on detailed government data covering jobs, inflation, and spending. This month, most of those reports are unavailable. The lack of information has left policymakers relying on private estimates and older numbers.

Private payroll data suggests job losses slowed in October after a weak September. Wage growth remains flat, showing that hiring has yet to regain strength. Meanwhile, new consumer price data shows inflation at 3% compared with a year earlier — still above target but moving lower.

With inflation easing and growth cooling, a modest rate cut is seen as a way to keep borrowing costs stable for businesses and households.

Powell to Speak After Decision

The Fed will announce its decision at 2 p.m. Eastern time. Chair Jerome Powell will address reporters 30 minutes later. He is expected to explain how the central bank is managing policy without its usual flow of data and whether more rate cuts are likely this year.

President Donald Trump has continued to call for faster and deeper cuts. Economists remain divided — some believe further easing is necessary to prevent a slowdown, while others say it could eventually push inflation back up.

Market Response and Investor Mood

U.S. markets remain steady ahead of the announcement. Major indexes are close to record highs, helped by strong corporate earnings and expectations of cheaper credit. Apple briefly crossed a $4 trillion valuation on Tuesday, a sign of continued investor optimism.

Bond markets show similar expectations. Yields on U.S. Treasuries have already dropped in anticipation of looser policy. Traders are watching December closely, when another small cut may be possible if inflation stays soft.

Uncertain Months Ahead

The lack of official data means the Fed is operating with less clarity than usual. Analysts say the central bank will likely proceed cautiously until regular reporting resumes.

Even a small rate cut could help support confidence and keep credit conditions stable, but the overall direction of the economy will become clearer only once the missing data returns.

Also Read: Trump-Appointed Fed Governor Miran Calls for Interest Rate Cut to 2.5%

Key Points

• ➤ Microsoft invested $1 billion in OpenAI in 2019, combining cash and Azure cloud credits when OpenAI was still a nonprofit research group.
• ➤ Bill Gates reportedly warned CEO Satya Nadella that the move could fail, given the uncertainty around early artificial intelligence research.
• ➤ The investment led to the creation of OpenAI’s limited-profit structure, allowing commercial partnerships and broader funding opportunities.
• ➤ Microsoft has since poured in over $13 billion and now owns about 27% of OpenAI’s for-profit arm, valued at around $135 billion.
• ➤ All OpenAI systems, including ChatGPT, are powered by Microsoft’s Azure cloud infrastructure for training and deployment.
• ➤ OpenAI’s technology now drives Microsoft’s Copilot features across Bing, Office, and Windows, blending AI with everyday software.
• ➤ ChatGPT attracts over 800 million weekly users worldwide, making it one of the fastest-growing digital platforms in history.
• ➤ Despite its global growth, OpenAI remains guided by a nonprofit board through the OpenAI Foundation to ensure balanced oversight.