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Recap 2024: And Here's What Filmmaker Sudhir Mishra Has To Say For 2025 | ExclusiveNEW YORK (AP) — Bitcoin topped $100,000 for the first time as a massive rally in the world's most popular cryptocurrency, largely accelerated by the election of Donald Trump, rolls on. The cryptocurrency officially to rose six figures Wednesday night, just hours after the president-elect said he intends to nominate cryptocurrency advocate Paul Atkins to be the next chair of the Securities and Exchange Commission. Bitcoin has soared since Trump won the U.S. presidential election on Nov. 5. The asset climbed from $69,374 on Election Day, hitting as high as $103,713 Wednesday, according to CoinDesk. And the latest all-time high arrives just two years after bitcoin dropped below $17,000 following the collapse of crypto exchange FTX . Bitcoin fell below $101,000 by Thursday afternoon. Even amid a massive rally that has more than doubled the value of bitcoin this year, some experts continue to warn of investment risks around the asset, which has quite a volatile history. Here’s what you need to know. Cryptocurrency has been around for a while now. But chances are you’ve heard about it more and more over the last few years. In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it’s typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain. Bitcoin is the largest and oldest cryptocurrency, although other assets like ethereum, XRP, tether and dogecoin have also gained popularity over the years. Some investors see cryptocurrency as a “digital alternative” to traditional money, but the large majority of daily financial transactions are still conducted using fiat currencies such as the dollar. Also, bitcoin can be very volatile, with its price reliant on larger market conditions. A lot of the recent action has to do with the outcome of the U.S. presidential election. Trump, who was once a crypto skeptic, has pledged to make the U.S. “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies. On Thursday morning, hours after bitcoin surpassed the $100,000 mark, Trump congratulated “BITCOINERS” on his social media platform Truth Social. He also appeared to take credit for the recent rally, writing, “YOU’RE WELCOME!!!” Top crypto players welcomed Trump’s election victory last month, in hopes that he would be able to push through legislative and regulatory changes that they’ve long lobbied for — which, generally speaking, aim for an increased sense of legitimacy without too much red tape. And the industry has made sizeable investments along the way. Back in August, Public Citizen, a left-leaning consumer rights advocacy nonprofit, reported finding that crypto-sector corporations spent more than $119 million in 2024 to back pro-crypto candidates across federal elections. Trump made his latest pro-crypto move when he announced his plans Wednesday to nominate Atkins to chair the SEC. Atkins was an SEC commissioner during the presidency of George W. Bush. In the years since leaving the agency, Atkins has made the case against too much market regulation. He joined the Token Alliance, a cryptocurrency advocacy organization, in 2017. Under current chair Gary Gensler, who will step down when Trump takes office, the SEC has cracked down on the crypto industry — penalizing a number of companies for violating securities laws. Gensler has also faced ample criticism from industry players in the process. One crypto-friendly move the SEC did make under Gensler was the approval in January of spot bitcoin ETFs, or exchange trade funds, which allow investors to have a stake in bitcoin without directly buying it. The spot ETFs were the dominant driver of bitcoin's price before Trump's win — but, like much of the crypto’s recent momentum, saw record inflows postelection. Bitcoin surpassing the coveted $100,000 mark has left much of the crypto world buzzing. “What we’re seeing isn’t just a rally — it’s a fundamental transformation of bitcoin’s place in the financial system,” Nathan McCauley, CEO and co-founder of crypto custodian Anchorage Digital, said in a statement — while pointing to the growth of who's entering the market, particularly with rising institutional adoption. Still, others note that the new heights of bitcoin's price don't necessarily mean the asset is going mainstream. The $100,000 level is “merely a psychological factor and ultimately just a number,” Dan Coatsworth, investment analyst at British investment company AJ Bell, wrote in a Thursday commentary . That being said, bitcoin could keep climbing to more and more all-time highs — particularly if Trump makes good on his promises for more crypto-friendly regulation once in office. If Trump actually makes a bitcoin reserve, for example, supply changes could also propel the price forward. Still, as with everything in the volatile cryptoverse, the future is never promised. Worldwide regulatory uncertainties and environmental concerns around bitcoin “mining" — the creation of new bitcoin, which consumes a lot of energy — are among factors that analysts like Coatsworth note could hamper future growth. And, as still a relatively-young asset with a history of volatility, longer-term adoption has yet to be seen through. Today's excitement around bitcoin may make many who aren't already in the space want to get in on the action, but experts continue to stress caution around crypto “FOMO," or the fear of missing out, especially for small-pocketed investors. “A lot of people have got rich from the cryptocurrency soaring in value this year, but this high-risk asset isn’t suitable for everyone,” Coatsworth noted Thursday. “It’s volatile, unpredictable and is driven by speculation, none of which makes for a sleep-at-night investment.” In short, history shows you can lose money in crypto as quickly as you’ve made it. Long-term price behavior relies on larger market conditions. Trading continues at all hours, every day. Coatsworth points to recent research from the Bank for International Settlements, a Switzerland-based global organization of central banks, which found that about three-quarters of retail buyers on crypto exchange apps likely lost money on their bitcoin investments between 2015 and 2022. At the start of the COVID-19 pandemic, bitcoin stood at just over $5,000. Its price climbed to nearly $69,000 by November 2021, during high demand for technology assets, but later crashed during an aggressive series of rate hikes by the Federal Reserve. And the late-2022 collapse of FTX significantly undermined confidence in crypto overall, with bitcoin falling below $17,000. Investors began returning in large numbers as inflation started to cool — and gains skyrocketed on the anticipation and then early success of spot ETFs, and again, now the post-election frenzy. But lighter regulation from the coming Trump administration could also mean less guardrails. “I would say, keep it simple. And don’t take on more risk than you can afford to,” Adam Morgan McCarthy, a research analyst at Kaiko, previously told The Associated Press — adding that there isn’t a “magic eight ball” to know for certain what comes next. This story has been corrected to refer to Anchorage Digital as a crypto custodian, not a crypto asset manager. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest local business news delivered FREE to your inbox weekly.
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Sunday’s Lions-Colts game will match up the NFL’s top two players in yards per catch: Alec Pierce of the Colts leads the league with 22.7 yards per catch, and Jameson Williams of the Lions is right behind him at 22.4 yards per catch. No one else in the NFL is within three yards per catch of Pierce and Williams. But if there’s a two-man race to lead the league, it’s a race Williams doesn’t care about winning. Asked today if he wants to lead the league, Williams said it doesn’t interest him and that he’s not really aware of the yards per catch statistic at all. “Nah, that stat don’t really matter to me,” Williams said. “I just look at it like, I’m big play. However the yards match up with the catches and stuff like that, I think they divide some type of stuff, I don’t know. I don’t look at that stat, for real.” Williams has had an up-and-down career since the Lions traded up in the first round to draft him in 2022. He’s missed time with an injury and two different suspensions, and had off-field issues. But there’s no doubt that he can make big plays with the ball in his hands. Even if he doesn’t care what his numbers say.Alex Ovechkin is expected to miss 4 to 6 weeks with a broken left leg
NoneTime for talking and campaigning is over. Politicians will now have to sit back and observe how voters express themselves in the voting booths on Wednesday.We have seen how politic ... If you are an active subscriber and the article is not showing, please log out and back in. Free access to articles from 12:00.
Lions injury updates: Amon-Ra St. Brown, David Montgomery, Carlton Davis, more | Sporting News
California could offer state EV subsidy if federal credit is axed
Why are the shares of lithium stock Vulcan Energy crashing 12% today?Alex Ovechkin has a broken left fibula and is expected to be out four to six weeks, an injury that pauses the Washington Capitals superstar captain’s pursuit of Wayne Gretzky’s NHL career goals record. Read this article for free: Already have an account? To continue reading, please subscribe: * Alex Ovechkin has a broken left fibula and is expected to be out four to six weeks, an injury that pauses the Washington Capitals superstar captain’s pursuit of Wayne Gretzky’s NHL career goals record. Read unlimited articles for free today: Already have an account? Alex Ovechkin has a broken left fibula and is expected to be out four to six weeks, an injury that pauses the Washington Capitals superstar captain’s pursuit of Wayne Gretzky’s NHL career goals record. The Capitals updated Ovechkin’s status Thursday after he was evaluated by team doctors upon returning from a three-game trip. The 39-year-old broke the leg in a shin-on-shin collision Monday night with Utah’s Jack McBain, and some of his closest teammates knew it was not good news even before Ovechkin was listed as week to week and placed on injured reserve. “Everyone’s bummed out,” said winger Tom Wilson, who has played with Ovechkin since 2013. “We were sitting there saying: ‘This is weird. Like, it’s unbelievable that he’s actually hurt.’ It’s one of those things where like, he’s going to miss games? I’ve been around a long time, and it’s new to me.” Ovechkin in his first 19 seasons missed 59 games — and just 35 because of injury. Durability even while throwing his body around with his physical style is a big reason he is on track to pass Gretzky’s mark of 894 goals that once looked unapproachable. “He doesn’t go out there and just coast around,” Wilson said. “He’s played 20 years every shift running over guys and skating. He’s a power forward, the best goal-scorer ever maybe, and he’s a power forward that plays the game really hard.” Ovechkin surged to the top of the league with 15 goals in his first 18 games this season. He was on pace to break the record and score No. 895 sometime in February. “You know when goal-scorers start scoring, it’s dangerous,” said defenseman John Carlson, who has been teammates with Ovechkin since 2009-10. “There was a bit of that in the downs that everyone was feeling about it too, of course. We see him coming to the rink every day, we know what’s at stake. You never want anyone to get injured, but there’s a lot to it and certainly he was playing his best hockey in years.” Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. ___ AP NHL: https://apnews.com/hub/nhl Advertisement Advertisement
NoneThe government is defending its economic record after a report found the forecast budget deficit is expected to be worse than predicted, with Australians experiencing the longest household recession since the 1970s. Analysts for Deloitte Access Economics estimate this year’s budget deficit, which Chalmers forecast in May to reach $28.3 billion, will be closer to $33.5 billion as commodity prices eat into company tax collections and inflation pushes up the costs of government services. Speaking on Nine’s Today , Social Services Minister Amanda Rishworth said the government had inherited a “pretty big economic mess” from the Coalition, pointing to the reduction in inflation under Labor. Host Karl Stefanovic interrupted to say that the government has had time to improve the economy, to which Rishworth said they had utilised that time to fight inflation, grow wages and tackle the cost of living. “The alternative would have been if Peter Dutton was the prime minister. He’s opposed every single one of the [cost of living] measures and we would be in a real recession right now if he had got his way on so many policy issues.” Nationals Senator Briget McKenzie said it was the government’s fault that Australians feel poorer. “Australians are feeling poorer because they actually are poorer under Albanese. And it is this government’s fault that the economic situation is as it is,” McKenzie said. “It’s been warned and warned about government spending. That’s why in comparable nations our numbers are in the toilet comparatively. That that is just not right.” Click here for more details on the Deloitte Access Economics report, and the treasurer’s response. The bill to ban social media for children under 16 will be a “test” for Peter Dutton’s leadership, says Social Services Minister Amanda Rishworth. Speaking on Nine’s Today , Rishworth said there was bipartisan support for the bill, but that Dutton was losing control of his caucus. “Just a couple of weeks ago, Peter Dutton said he would facilitate this important piece of legislation and support the government. And now we see our senators defying him,” she said. “So this is a test for Peter Dutton and his leadership.” Also on Today was Nationals senator Bridget McKenzie, who said there were still concerns about digital ID laws and privacy. “Given the [is] censoring the Australian public bill from the Senate this week, we want to make sure we get strong, robust laws that don’t damage privacy and make compulsory Australians having to have digital IDs,” she said. “We do want strong, robust laws to protect kids under 16 on social media platforms. We’ve been out of the blocks before the government on this. We need to get the legislation right so it does actually get the outcomes we want. And we need to make sure that those protections exist in the legislation.” Read more about the debate within the Coalition on the ban here. An alternative proposal to the social media ban on children under 16 has been put forth by independent MP Zoe Daniel, who claims a ban doesn’t tackle the underlying issues that harm young people. Daniel’s bill would implement an overarching statutory duty of care on social media companies, with the goal being “safety by design”. “What you need to make that work is the companies to assess the risks, mitigate the risks, and be transparent about how they’re doing that,” Daniel told ABC News Breakfast. “The bill also has a provision to enable users to have control over the algorithm as exists overseas, particularly in the EU, enabling users to either reset or turn off their algorithm if they wish.” Independent MP Zoe Daniel. Credit: Alex Ellinghausen Daniel says her work in the space began with tackling eating disorders, with a working group revealing the damage the algorithm was doing to sufferers by delivering them more content about eating disorders. She says the same trend is seen in a range of public health issues including gambling. “The problem with the algorithm is that in many ways, it compounds negative behaviour, and particularly for young people - that can send young people into a real spiral,” Daniel said. “The legislation is based on international best practice, so in effect, it cherry-picks the best of legislation that is already in place in Europe and in the UK.” The Goldstein MP said the government have been responsive to her proposal, and flagged they would consider duty of care eventually. But Daniel hopes the government will consider her bill now. “I understand why they want to do [the under 16s social media ban] because it is a lever to pull now and it makes parents feel better, but it actually makes zero difference to what is happening on the platforms. It doesn’t manage the algorithm or force the platforms to do anything about what is happening in their environment.” Social media companies, including Snapchat, TikTok, and Meta, have taken aim at the “rushed” consultation process for the ban on children under 16. Communications Minister Michelle Rowland introduced the world-leading reform to parliament last Thursday, which she said would make the online environment better for young people. The consultation period for groups and individuals to make submissions closed on Friday. A Senate committee held a one-day hearing on Monday and is due to report back on Tuesday. In submissions to the inquiry, several groups, including social media companies, pointed to the short notice period. Snap Inc. wrote that “the extremely compressed timeline” had allowed stakeholders little more than 24 hours to provide a response, which “severely” constrained thorough analysis and informed debate. X, formerly Twitter, also criticised the “unreasonably short time frame of one day”, writing that it has “serious concerns as to the lawfulness of the bill”. Meta, which owns Facebook, wrote that there had been “minimal consultation or engagement” and urged the government to wait for the results of the age assurance trial before progressing with the legislation. TikTok said that despite the “time-limited review”, there was a range of “serious, unresolved problems” that the government must clarify to ensure there wouldn’t be unintended consequences for all Australians. AAP Labor has gained a crucial concession from the Greens after a year of dispute over a $5.5 billion plan to help young Australians buy their first homes, securing the policy with a stunning back down from the minor party. The decisions late on Monday delivered a big victory to the federal government in the final week of parliament for the year, but other bills are on the brink of defeat after Senate crossbenchers blasted Labor for trying to rush through changes on the environment, political donations and other issues. Read more about the status of the bills on the brink, including the social media ban, political donation changes and environmental reforms, here. Good morning and welcome to the national news blog. My name is Josefine Ganko, and as always, I’ll lead our coverage for the first half of the day. It’s Tuesday, November 26. Here’s what’s making news this morning. Let’s get into it.
California could offer state EV subsidy if federal credit is axedNone
Janet Yellen leaves a trail of mess as she departs from officeNoneCalifornia could offer state EV subsidy if federal credit is axed