Cryptocurrencies
- Crypto sympathizer Javier Mille won the Argentine Presidential elections.
- Lee Jeong-hoon, the former president of Bithumb, one of South Korea’s largest cryptocurrency exchanges, is accused of profiting from corruption within the exchange. The former manager faces 8 years in prison.
- Worldcoin’s price lost 6% after CEO Sam Altman left OpenAI. OpenAI announced in its statement that Altman was not honest in communication and will no longer serve as CEO.
- Fidelity, an asset management firm that oversees $4.5 trillion, has filed for approval for a spot Ethereum exchange-traded fund (ETF).
- Yearn.Finance’s YFI token fell over 43 percent in five hours after surging nearly 170 percent in November.
- Decentralized exchange dYdX suffered a loss of $9 million, representing approximately 40% of the fund’s total, after the price of Yearn Finance (YFI) dropped by 40% yesterday.
- According to dYdX founder Antonio Juliano, who had to use the insurance fund to cover this $ 9 million user liquidation that took place on November 17, the losses occurred after a planned attack on the exchange.
- European digital asset manager CoinShares has won an exclusive option to acquire Valkyrie Funds, the exchange-traded fund (ETF) unit of its US rival Valkyrie Investments, which also includes the Valkyrie Bitcoin Fund, which is awaiting approval in the US.
- Ripple’s vice president of Central Bank Digital Currencies (CBDCs) James Wallis highlighted the potential of CBDCs in increasing global financial inclusion. Wallis pointed out how CBDCs could revolutionize access to financial services.
- With more than a month left until the end of 2023, $20 million has already been spent on lobbying for the United States crypto industry. The total amount spent on lobbying activities last year was $22.2 million.
- According to US hedge fund Pantera Capital, mass approval of spot Bitcoin ETFs is imminent and will occur within the next one to two months.
FED
- Although it is noteworthy that FED officials still maintain their cautious attitude, it is estimated that the bank may start reducing interest rates as of June next year, based on the pricing in the money markets.
Global Markets
- The positive trend in global markets, which started with expectations that the US Federal Reserve’s (FED) tight monetary policy has come to an end, continues on the first trading day of the new week.
- While the US 10-year bond interest rate stabilized at 4.45 percent on the first trading day of the new week, volatility in the bond markets is expected to increase depending on the demand for 20-year bonds in the US bond issuance.
- In the New York Stock Exchange, the Nasdaq index increased by 0.08 percent, the S&P 500 index increased by 0.13 percent and the Dow Jones index increased by 0.01 percent on Friday. Index futures contracts in the USA started the new week with a horizontal trend.
- DAX 40 index in Germany increased by 0.84 percent, CAC 40 index in France increased by 0.91 percent, FTSE 100 index in England increased by 1.26 percent and MIB 30 index in Italy increased by 0.82 percent. Index futures contracts in Europe started the new week with a buying-oriented trend.
- While Asian markets started the week with a buying trend, Japan’s Nikkei 225 index gave back its gains with increased profit sales after testing the peak of the last 33 years.
- Oil prices, which hit their lowest level in the last 4 months last week, moved upwards as supply concerns regained ground. The barrel price of Brent oil is traded at $81.38 in international markets.
