Crypto ally Tom Emmer elected House GOP minority whip

Pro-crypto US Representative Tom Emmer has been elected House Republican minority whip, securing the partys second-highest leadership position as Democrats prepare to take control of Congress in January.  Emmer beat Texas Representative August Pfluger in a 103-76 secret ballot vote, according to Politico. He previously served as House Republican majority whip and will remain the partys No. 2 leader, this time under incoming Minority Leader Jim Jordan.  As minority whip, Emmer will be responsible for rallying Republican votes, coordinating the partys legislative strategy and helping maintain unity on key bills.  Emmer has been a leading Republican voice on digital assets. In March 2025, he and Representative Ritchie Torres announced the bipartisan Congressional Crypto Caucus, aimed at mobilizing support for digital asset legislation, including stablecoin and market structure bills.  He is also an original cosponsor of the CLARITY Act and introduced the Blockchain Regulatory Certainty Act, which seeks to clarify that blockchain developers and infrastructure providers who do not control customer funds are not money transmitters under federal law.  “Tom has been one of the strongest advocates for digital assets in Congress, and he has led the fight against a government-controlled CBDC and stood up for American innovators,” GOP Senator Cynthia Lummis said on X.

2 دن پہلےانڈسٹری

WikiBit Exchange Exit Risk Ranking – Episode 58: YUBIT Claims to Hold a US MSB Registration, but No Record Can Be Found in FinCEN's Database

Introduction: An Exchange with Regulatory Credentials That Cannot Be Verified  In the first 57 editions, we investigated a series of crypto exchanges, from HashKey to BTSE. For Episode 58, were taking a closer look at one with perhaps the most confusing identity of all: YUBIT.  When it comes to its product offering, YUBIT certainly has something to show. Formerly known as SAFEX, the platform officially rebranded as YUBIT in October 2025. It supports approximately 313 spot trading pairs and 293 perpetual contract pairs, with leverage of up to 200x.  Users can trade cryptocurrencies, gold, metals, and stock contracts through a single USDT account—an offering not commonly found on comparable platforms. YUBIT also claims to maintain a 20,000 ETH protection fund, conduct monthly Proof of Reserves (PoR) audits, and achieve 99.9995% uptime. Its marketing director, Moss Kirk, and founding team member, John Tan, have both made public appearances.  But heres the other side of the story: WikiBit gives YUBIT a score of just 4.96/10, flagging that “the platform currently has no valid cryptocurrency regulatory oversight.” Its claimed Canadian FINTRAC registration (No. M21142533) remains unverified. Investors should exercise caution.  An independent investigation by TraderKnows reached an even more concerning conclusion: YUBITs claimed US FinCEN MSB registration number,

2 دن پہلےگہرا غوطہ

Global banks commit $270M to stablecoin venture targeting 2027 launch

A consortium of 21 financial institutions has committed about $270 million in funding to a stablecoin initiative known as Project Faro. The project, backed by big banks, aims to act as a stablecoin issuer and launch a US dollar stablecoin in the first half of 2027.  According to Bloomberg, the funding is intended to cover five years of operations for the new company, which plans to issue stablecoins pegged to the currencies of all G7 countries, with a euro-backed coin expected to follow the dollar launch.  The group first announced the initiative in September. While confirmed details are thin, people familiar with the matter said the company is expected to be incorporated in the US, Bloomberg reported.  The group includes banks such as Citigroup, Goldman Sachs, Banco Santander, Deutsche Bank and BBVA. Similar initiatives are also underway, including Stripe-led Open USD, which counts Visa among its founding partners, and Qivalis, a European banking consortium seeking to challenge the dominance of US dollar-pegged stablecoins.  Overlap with rival consortiums  BBVA is one of several Faro members also involved in competing stablecoin initiatives, including Open USD and Qivalis. Dutch lender Rabobank is also a Faro member and joined Qivalis in May, when the euro consortium added 25 banks

2 دن پہلےانڈسٹری

Bitcoin price eyes $74K as Fed rate-hike bets hit 96% after Waller speech

Bitcoin (BTC) fell toward $74,000, and US stock futures dropped on Tuesday as a senior Federal Reserve official voiced support for hiking interest rates.  Key points:Bitcoin traded 1.3% lower on Tuesday, reaching $74,080 as Nasdaq futures fell 0.4% ahead of the Wall Street open.October US CPI data, due for release at 8.30am on Tuesday, is expected to show a monthly increase of 0.3%, less than Septembers 0.6% gain.Federal Reserve governor Christopher Waller said that he would “support” a 0.25% interest-rate hike at the Dec. 9 FOMC meeting regardless of Tuesdays CPI reading.  Waller would “still support” December rate hike after lower CPI  Data from TradingView showed BTC/USD reaching $74,080 on Bitstamp, down 1.3% on the day.BTC/USD one-hour chart. Source: Cointelegraph/TradingView  US stock market futures leaned lower as Fed governor Christopher Waller said that he would support hiking interest rates by 25 basis points at the next meeting of the Federal Open Market Committee (FOMC) on Dec. 9. At the time of writing, Nasdaq 100 futures were down 0.4%.  His decision, he added, would not be swayed by lower-than-expected inflation data. The October prints of the US Consumer Price Index (CPI) is due for release at 8.30 am Eastern time on Tuesday. It is expected to

2 دن پہلےانڈسٹری

LNbits rushes emergency patch after reported Bitcoin wallet thefts

Bitcoin Lightning wallet platform LNbits has urged users to update immediately to its latest version after reporting a wave of attacks targeting LNbits instances that resulted in stolen funds.  The project published version 1.7.0 on Tuesday, describing it as a critical release addressing vulnerabilities and strengthening authentication, extension management and payment handling. LNbits warned that updating alone would not protect installations whose credentials had already been compromised.  “Its been a very challenging few days, working relentlessly to get the v1.7 release out after our users and we suffered losses,” LNbits creator Ben Arc said on X.  LNbits provides software for running Bitcoin Lightning wallets and payment applications, including merchant checkouts, tipping services and paywalls. Developer Ben Arc said in May that about 200,000 people run the software themselves.  LNbits first warned operators on Sunday to disable its Paywall extension while it investigated a potential vulnerability. Just over an hour later, the project urged users to shut down their LNbits servers immediately, citing a wave of attacks. It also took its own hosted installations offline.  The company has not yet detailed the exploit and how many were impacted by it. In an announcement accompanying the emergency patch, LNbits said the vulnerability affects all versions before 1.7.0

2 دن پہلےانڈسٹری

Peter Brandt Sees 30-Year Yield at 7%. Would Bitcoin and Stocks Survive?

Veteran trader Peter Brandt says the 30-year yield has ended its pullback and could climb to 6.5% to 7%. He calls a drop below 5% unlikely.  The yield on 30-year US Treasury bonds sat near 5.35% on Tuesday, below its October high of about 5.67%. Brandts target could lift mortgage rates and raise the bar for Bitcoin (BTC) and stocks.  Why Did the 30-Year Yield Bounce From 5.22%?  Brandt said the yield bottomed at 5.22% during the retreat from its October high. That leaves the bounce at about 0.13 percentage point.  Sponsored  Sponsored  Opinion — pull back in yields (30-Yr touched 5.22%) is over. Sub 5.0 unlikely. Next stop 6.5-7.0% $ZB_F $US30 pic.twitter.com/yYeW6vyn8n  — The Factor Report (@PeterLBrandt) November 10, 2026  The 30-year yield rose from 4.83% at the end of June to above 5.3% by August. A hotter-than-expected October inflation report drove Tuesdays move, CNBC reported. The 10-year yield briefly topped 5% as well.  Fed Governor Christopher Wallers comments also fueled bets on a hike. Traders now price an 84% chance of a December Fed hike.  What Would 7% Do to Stocks, Mortgages and Bitcoin?  Mortgage rates reached about 7%, a two-year high, when the 30-year yield neared 5.5%. A move toward 7% could push them higher.  Equity valuations face the

2 دن پہلےانڈسٹری

After Terafab Chips, Teslas $10 Billion Crystal Sun Solar Factory Breaks Ground

Tesla has started building the Crystal Sun solar factory, a $10 billion project near Houston, Texas. The plant will produce everything from silicon ingots to finished panels, with operations planned for early 2029.  The plant follows Terafab, the AI chip project Elon Musk announced in Austin. For Tesla shareholders, that means another multi-billion-dollar bet whose output arrives years after the spending starts.  Sponsored  Sponsored  Why Tesla Wants Its Own Solar Factory in Texas  Construction should wrap up in 2028, according to a Tesla investor. Commercial production would then begin in the first quarter of 2029.  The economic estimates for Crystal Sun, the new Tesla plant, are large. The project could add about $107 billion to Texas GDP and roughly $6.4 billion in state and local taxes.  Teslas state filing also lists 9,712 full-time jobs, Manufacturing Dive reported. Meanwhile, a local observer who visited the site found cleared land and leveling work already underway.  Tesla CEO Elon Musk shared the construction update on X under the projects name.  The timing matters. Musk‘s Terafab chip plant targets AI hardware, and Intel has since joined the Terafab project. On Tesla’s July earnings call, Musk tied the solar push to rising power demand from AI and electrification.  Sponsored  Sponsored  Can Musk Build an Energy Supply Chain

2 دن پہلےانڈسٹری

Is Grok Losing the AI Race? Elon Musk Says Claude is Better “For Now”

Elon Musk has called Anthropic‘s Claude Opus 5.5 a masterpiece in a rare admission about a rival. He also acknowledged that xAI’s upcoming Grok 4.8 will fall short.  However, Musk insists Grok 5 could overtake Anthropics flagship model within months.  Sponsored  Sponsored  Elon Musk Talks About Claude AI  On Tuesday, Musk replied to an X user who asked how Grok 4.8 would compare.  “Opus 5.5 is a masterpiece,” Musk wrote on X, adding that Grok 4.8 would be “not as good.”  Anthropic released Opus 5.5 on September 22. The company says it performs comparably to its higher-end Fable 5.1 on most work.  Moreover, it costs 40% less to run than the previous Opus model on typical workloads. On Terminal-Bench 4.0, Anthropic reported a 65.76% score.  By contrast, OpenAIs GPT-6 Astra scored 57.9% on the same test.  Meanwhile, Musk has not published any benchmark results for Grok 4.8. Praise from a direct competitor is unusual in the fiercely competitive AI industry.  fable 5.5 has to be significantly better than opus 5.5 to justify its usage  to live up to the hype fable 5.5 needs at least a 70 on the AA index. opus 5.5 with fallback already scores 58 and handles almost anything, so a gap that big makes me wonder how much

2 دن پہلےانڈسٹری

Wall Street's Panic Gauge Just Broke a 13-Year Record. Goldman Says History Favors a Rebound

Goldman Sachs Vol Panic Index posted its biggest two-day swing on record last week, beating an April 2013 high. The gauge collapsed during the midterm relief rally, then jumped to 9.57 out of 10 a day later.  That reading pushed US stocks into Goldman‘s panic zone, a level crossed only 15 times before. Historically, such extremes preceded S&P 500 gains, but the bank’s traders warn that forced selling may not be over.  Sponsored  Sponsored  Why the Goldman Sachs Panic Index Flipped in 48 Hours  Goldmans trading desk runs the gauge, which scores stress in US equities from zero to 10. It draws on options-market signals such as implied volatility and the cost of downside protection.  Barchart data puts the combined two-day move at roughly 8.5 points. The previous record, 7.87 points, dated back to April 16, 2013.  The swing began on Wednesday, November 4. Stocks rallied after Democrats won both chambers of Congress, and the Dows post-election jump reached 3%.  Clients used that rally to sell their hedges. As a result, the Panic Index logged its fourth-largest daily drop on record.  That protection disappeared just before investors needed it. On Thursday, an AI chip stock selloff dragged the S&P 500 down 4.36%, its worst session since April 2025.  Sponsored  Sponsored  The index

2 دن پہلےانڈسٹری

BitGo Q3 profit nearly doubles on crypto gains as revenue falls 51%

US-listed digital asset infrastructure company BitGo Holdings reported $44.1 million in third-quarter net income, nearly double a year earlier, as a rise in the value of its crypto holdings offset a $19.2 million operating loss.  The crypto custodian recorded a $71.5 million unrealized gain on digital assets in the quarter ended Sept. 30, according to its quarterly filing. A year earlier, it reported operating income of $3.9 million.  Revenue fell 51% from a year earlier to $2.85 billion as digital asset sales slowed, BitGo said Monday. The company generally records the full proceeds of those sales as revenue and accounts for the costs separately. Revenue after direct costs fell 32% to $37.3 million.  BitGo missed Wall Street estimates for both revenue and earnings in the third quarter, with revenue coming in 32% below the $4.2 billion consensus shared by US financial research firm Zacks Investment Research.  Its shares rose 4.9% on Monday to close at $5.10, reversing some of the 60% decline seen since early in the year, according to Yahoo Finance.  The company reported holding $143 million of cash and cash equivalents and 2,399 Bitcoin (BTC) in corporate treasury holdings, with a fair value of $200 million as of Sept. 30.BitGo stock price, year-to-date

2 دن پہلےانڈسٹری
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