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☆ Tom Lee says bitcoin could hit six figures before year-end
▼ + stars: | 2024-11-08 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin is just getting started after its postelection rally, according to Fundstrat's Tom Lee, and is still on track to hit six figures by the end of the year. "I think because [it's] post-halving and now bitcoin is becoming a lot more relevant ... the regulatory overhang is diminishing — that there's a lot of upside from here." The flagship cryptocurrency climbed to fresh records this week after President-elect Donald Trump' s victory, which was widely anticipated as a bullish catalyst for the crypto industry at large. During Trump's campaign for reelection he promised the crypto industry a more favorable regulatory environment that would include appointing a more crypto-friendly leader to chair the Securities and Exchange Commission. Bitcoin is up 79% this year, compared with the S & P 500's 25% gain.

Persons: Bitcoin, Tom Lee, Donald Trump, It's, Lee, JD Vance, Vivek Ramaswamy, Cantor Fitzgerald, Howard Lutnick, Robert Kennedy Jr, it's, Sen, Elizabeth Warren, Biden, Gary Gensler Organizations: Treasury, Securities and Exchange Commission, SEC

☆ What Trump tariffs could mean for AI darling Nvidia
▼ + stars: | 2024-11-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Wall Street is questioning how potential tariffs on imports under a Trump administration could affect artificial intelligence darling Nvidia and the broader industry . Earlier this year, Trump accused Taiwan of stealing the chipmaking business from the U.S. and said he would impose tariffs as president. NVDA 5D mountain Shares over the last week If the administration implements tariffs, Ives believes Nvidia could gain some workaround given its integral status. That could come in the form of excluding some of its next AI chips and graphics processing units from the tariff wave expected in spring 2025. Many investors also view Trump as a proponent of AI innovation.

Persons: Trump, Kamala Harris, Joe Biden, Jensen Huang, Dan Ives, Ives, Hua Cheng, Elon Musk, Musk, Mizuho's Jordan Klein Organizations: U.S, Taiwan Semiconductor Manufacturing, NVIDIA, Nvidia, Wedbush Securities, Bank of, Blackwell Locations: Taiwan, U.S, Mirova

☆ U.S. allies, haunted by past Trump insults, race to delete posts and praise election victor
▼ + stars: | 2024-11-07 | by ( Hannah Peart | Hannah Peart Is An Intern In The Nbc News London Bureau. | ) www.nbcnews.com time to read: +3 min

“A political pyromaniac who must be put before a criminal court,” Jean Asselborn, then-foreign minister for Luxembourg, said of Trump after the Jan. 6, 2021, Capitol riot. "Trump has ruined it all," Croatian President Zoran Milanović said, also in 2021. Following Trump’s election victory, at least two of these U.S. allies, the U.K. and Australia, have had to dial back some of their previous attacks. U.K. Foreign Secretary David Lammy in September. Charles Parton, who served as a British diplomat for almost four decades, said that “the Labour Party has got some grounds to make up” after a perception that Starmer's party had favored the Democrats.

Persons: Donald Trump's, Kevin Rudd, Trump, “, ” David Lammy, ” Jean Asselborn, Zoran Milanović, Rudd, ”, won’t, David Lammy, Neil Hall, government’s, Trump’s, Harris, Keir Starmer, Charles Parton, Parton, Nigel Farage Organizations: Capitol, Australian Government, Foreign, Bloomberg, Getty, ”, U.S, Relations, Labour Party, Trump, Federal, Commission, Labour, Democrats Locations: U.S, Luxembourg, Australia, United States, British

Weeks after sticky black balls washed up on the famed beaches of Sydney, Australia, scientists say they have partly solved the mystery behind the “disgusting” blobs. Initially thought to be tar balls, the golf-ball-size debris turned out to be something much different — a combination of decomposed cooking oils, hair and food waste, the New South Wales Environment Protection Authority (EPA) said Wednesday. Balls collected for testing in a laboratory at the University of New South Wales in Sydney. They said preliminary test results indicated that the blobs were tar balls formed when oil comes into contact with debris and water. Sydney Water confirmed there were no issues at the Bondi or Malabar water facilities, while Transport for NSW Maritime reviewed recent weather patterns but found no clear answers, according to the statement.

Persons: “, Balls, Jonathan Beve, ”, William Alexander Donald, Donald, we’re, ” Donald Organizations: New South, New South Wales Environment Protection Authority, University of New, Authorities, University of New South Wales Sydney, NBC News, Sydney Water, Transport, NSW Maritime Locations: Sydney, Australia, New South Wales, University of New South Wales, Bondi, University of New South, Victoria, Malabar

☆ Australia proposes ‘world-leading’ ban on social media for those under 16
▼ + stars: | 2024-11-07 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

“Social media is doing harm to our kids, and I’m calling time on it,” Albanese said at a news conference. A number of countries have already vowed to curb social media use by children through legislation, though Australia’s policy is one of the most stringent. No jurisdiction so far has tried using age-verification methods such as biometrics or government identification to enforce a social media age cut-off, two of the methods being trialed. Mick Tsickas / AP“The onus will be on social media platforms to demonstrate they are taking reasonable steps to prevent access,” Albanese said. Last year, France proposed a ban on social media for those under 15, though users were able to avoid the ban with parental consent.

Persons: Anthony Albanese, ” Albanese, Albanese, ”, Mick Tsickas, Michelle Rowland, Rowland, TikTok, Elon Musk’s, Sunita Bose, “ Organizations: Liberal Party, Australian, ”, Facebook, YouTube, Digital Industry Group, Google, DIGI Locations: SYDNEY, Australia, Canberra, France, United States

☆ Raygun, the Olympic breakdancer who became a laughing stock, says she is retiring because of the backlash
▼ + stars: | 2024-11-07 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

Gunn suffered ridicule and false rumors after her Paris Olympics performance. AdvertisementThe Olympic breakdancer Rachael "Raygun" Gunn is retiring from the sport after facing a barrage of online hate and misinformation. The 37-year-old Australian became a laughing stock this summer after her viral Paris Olympics performance, which included moves that were compared to a kangaroo hopping and the dancing of a child. Speaking at her concert in Munich in August, Adele said Gunn's performance was her "favorite thing that's happened in the Olympics." "Having that Olympic stamp for any sport changes the game of play," Born Barikor, the chair of the UK organisation Breaking GB, told Fortune.

Persons: Rachael, Raygun, Gunn, —, France's Syssy, Lithuania's Nicka, she'd, 2DayFM, it's, Samuel Free, AUSBreaking, Harry Langer, Adele, Jimmy Fallon, Fallon, I've, you've, Mark Kolbe, Joycelyn Wilson, Fortune, Gunn didn't Organizations: breakdancing, Olympics, Angeles, Service, Paris Olympics, Angeles Olympics, International Olympic, Getty, Georgia Institute of Technology, Breaking, Macquarie University, Nova, Business Locations: Sydney, Munich, Australian

☆ Mysterious black balls that washed up on Sydney beach were foul-smelling mini ‘fatbergs’
▼ + stars: | 2024-11-07 | by ( Lex Harvey | ) edition.cnn.com time to read: +3 min

CNN —The mystery of the black balls that washed up on some of Sydney’s most iconic beaches last month has now been solved – and it’s more disgusting than you could ever imagine. Australian beachgoers were turned away from seven beaches last month after lifeguards spotted thousands of black spheres, prompting closures and clean-up efforts. People visit Coogee Beach in Sydney, Australia after authorities closed it to the public on October 16, 2024, following the sighting of mysterious black balls on its shores. These Sydney fatbergs were no ordinary fatbergs, however. The blobs contained everything from fecal matter to medication and recreational drugs, the scientists wrote.

Persons: ”, Jon Beves, Saeed Khan, William Alexander Donald, ” Donald, 9news, Fatbergs, Sydney fatbergs Organizations: CNN, University of New, UNSW, New South, New South Wales Environment, Protection Authority, Sydney, Getty, EPA, “ Authorities Locations: University of New South Wales, New, New South Wales, Bondi, Coogee Beach, Sydney, Australia, AFP, Birmingham, “

☆ Investors accuse the ex-CEO of the company that helped take Trump Media public of stiffing them out of millions of shares
▼ + stars: | 2024-11-07 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +6 min

Investors accuse Florida businessman Patrick Orlando of diverting millions of Trump Media shares from them. Orlando was the CEO of the blank check firm that helped take Trump Media public. AdvertisementInvestors have accused the ex-CEO of the blank check firm that helped take the parent company of President-elect Donald Trump's social media site public of stiffing them out of million of shares. Orlando, his attorneys, and attorneys for ARC Global did not immediately respond to requests for comment from Business Insider on Thursday. "Specifically, as Managing Member of ARC, Orlando conveyed roughly 46% of ARC's membership interest to Franlu in a secret transaction for zero consideration in exchange."

Persons: Patrick Orlando, Orlando, —, Donald Trump's, Donald Trump, Kamala Harris Organizations: Trump Media, Service, Florida, ARC Global Investments, Trump Media & Technology Group, Acquisition Corporation, Orlando, ARC Global, Business, ARC, Belsize Ventures, Franlu, Securities, Exchange Commission, Trump Media & Technology Group Corp, SEC, Trump Locations: Florida, Orlando, Delaware's Chancery, Cayman Islands, Miami

☆ At the SEC, Trump's election victory paves the way for a rollback in regulations
▼ + stars: | 2024-11-07 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

Securities and Exchange Commission Chairman Gary Gensler has sought to dramatically increase regulation of corporate America, vastly increasing disclosure requirements in particular. In response, corporate America has brought an avalanche of lawsuits against Gensler and the SEC. With a new regime now coming into the SEC following Donald Trump's victory in the presidential race, how will they respond to the lawsuits? Are there are any favorites for SEC chairman? Dan Gallagher, now serving as Robinhood's chief legal officer and formerly a Republican SEC commissioner, has been floated as a possible replacement.

Persons: Gary Gensler, Donald Trump's, Larry Tabb, Gary Gensler's, Gensler, Trump, Dan Gallagher, Hester Peirce, Peirce, Mark Uyeda, Chevron Organizations: America, Securities, Exchange, Gensler, SEC, CNBC, Bloomberg Intelligence, Republican SEC, Republican, Treasury, Supreme, Chevron Locations: America, Congress

☆ How Elon Musk stands to cash in on Trump's presidential victory
▼ + stars: | 2024-11-07 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +10 min

Jim Watson | Afp | Getty ImagesAs Donald Trump celebrated his presidential victory early Wednesday morning, Elon Musk was right there with him. Elon," Trump said onstage at his Mar-a-Lago resort, thanking the world's richest person for spending two weeks campaigning in Pennsylvania. Musk's investment in Trump is already paying off, even though Trump doesn't take office until Jan. 20. Musk was introduced by Cantor Fitzgerald CEO Howard Lutnick, who called the Tesla CEO the "greatest capitalist" in U.S. history. Having a role in a bespoke commission could give Musk power over federal agencies' budgets, staffing and the ability to push for the elimination of inconvenient regulations.

Persons: Elon Musk, Donald Trump, Jim Watson, Elon, Trump, Musk's SpaceX, Musk, surrogates, Tony, Cantor Fitzgerald, Howard Lutnick, Lutnick, Biden, Tesla, Sergio Flores, Geoff Orazem, Orazem, Vladimir Putin, Xi Jinping, Bill Nelson, Putin, Tenet, JD Vance Organizations: Republican, Afp, Getty, Trump, U.S, Tesla, SpaceX, Twitter, Department of Government, SEC, Environmental Protection Agency, Federal Aviation Administration, IRS, Microsoft, Meta, U.S . Army, National Security Agency, FedScout, NASA, U.S . Air Force, Space Force, Federal Emergency Management Agency, National Labor Relations Board, Street Journal, NBC News, Tenet Media, Department of Justice, Putin, Kremlin, PAC Locations: Butler , Pennsylvania, Lago, Pennsylvania, China, Hurricane, New, Puerto Rico, Meta, U.S, Taiwan, Russian, Ukraine

Rachael "Raygun" Gunn has announced that her professional break dancing career is over, citing the online reaction to her Paris Olympics performance. The Australian dancer — who went viral for her unorthodox performance at the 2024 Olympic Games — said that while she still breaks, she's not going to compete anymore. She was awarded zero points at the Olympics, leading many to wonder how she qualified for the Games to begin with. As videos of her performances went viral, so did conspiracy theories about her entry into the competition. While her competitive days may be behind her, Gunn seems to have found another way to keep her love for breaking alive.

Persons: Rachael, Raygun, Gunn, —, she's, Jimmy, Nath, It’s, she'd, I’ve Organizations: Paris Olympics, Games, Olympics, Australia

☆ Stocks making the biggest moves premarket: Tesla, DJT, CVS Health, Dollar Tree and more
▼ + stars: | 2024-11-06 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

Crypto stocks – Shares of Coinbase surged 12% as investors cheered the prospect of a more supportive regulatory environment for cryptocurrency businesses under a second Donald Trump presidency. Bank stocks — Shares of banking stocks soared in premarket trading after Donald Trump's victory spurred investor optimism that the sector could see less regulation . CVS Health — Shares rose 7.5% after CVS posted mixed third-quarter results , citing higher medical costs that weighed on net income. Clean energy stocks — Shares of renewable energy and solar companies slid on worries that Trump's second term could imperil the Inflation Reduction Act and measures to fight climate change. Dollar Tree , Five Below — Shares of Dollar Tree slipped 1.6%, while Five Below moved down 9%.

Persons: Donald Trump, Donald Trump's, Goldman Sachs, Wells Fargo, SunRun, FirstSolar, Wegovy, Trump, CoreCivic, Dan Ives, Tesla, — CNBC's Michelle Fox Theobald, Tanaya Macheel, Brian Evans Organizations: MicroStrategy, Bank, —, Citigroup, Bank of America, Trump Media & Technology, Republican, CVS, Enphase Energy, Novo Nordisk —, GEO Group, Elon, Trump, Wedbush Securities, Tilray, Aurora Cannabis, National Retail Federation Locations: FactSet, Novo Nordisk — U.S, Danish, U.S, Florida, Canada, China

☆ Asia-Pacific markets open higher as Wall Street rallies ahead of U.S. election results
▼ + stars: | 2024-11-06 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

A screen displays the Nikkei 225 Stock Average figure on the trading floor at the Nomura Securities Co. headquarters in Tokyo, Japan, on Jan. 11, 2024. SINGAPORE — Asia-Pacific markets opened higher Wednesday after Wall Street surged overnight ahead of the U.S. presidential election results. Japan's Nikkei 225 opened up 0.7%, while the Topix gained 0.4%. The Bank of Japan's monetary policy meeting minutes will be released later in the day, which could give insights on where the members stand on the bank's policy path. Australia's S&P/ASX 200 rose 0.7% higher.

Persons: Kospi Organizations: Nomura Securities Co, U.S, Nikkei, People's Congress Locations: Tokyo, Japan, SINGAPORE — Asia, Pacific

Nobody was a bigger winner than Coinbase CEO Brian Armstrong. Coinbase shares soared 31% on Wednesday, their best day on record, as investors celebrated the company's victorious efforts to get pro-crypto candidates into office. "I am so grateful to Ohioans for their resounding support in this race," Moreno said in a statement Tuesday night. "I look forward to working with the new Republican Senate majority to fix our economy, secure our border, and return to American strength at home and abroad." "In the beginning, a lot of people didn't know what crypto was," Armstrong said of his earlier trips.

Persons: Brian Armstrong, Bryan van der Beek, Coinbase, Armstrong, Ohio Republican Bernie Moreno, Sherrod Brown, Bitcoin, Brown, Moreno, Donald Trump's, Ohioans, Gary Gensler, vociferously, Bernie Moreno, Stephen Maturen, Paul Grewal, Grewal, rulemaking Organizations: Coinbase Inc, Singapore Fintech, Bloomberg, Getty, Ohio Republican, Senate, Committee, Crypto, NBC News, Republicans, Republican, Republican Senate, Armstrong, Securities, Exchange, U.S, Brecksville, Center, CNBC, Trump, SEC Locations: Singapore, Washington, Brecksville , Ohio, United States

☆ Dogecoin and other memecoins surge as crypto traders position for a Trump election victory
▼ + stars: | 2024-11-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Memecoins surged early Wednesday on the back of election results that showed former President Donald Trump in a strong position to gain a second term. "Certain sectors that have buoyed prices, such as the renewed interest in memecoins, may experience major price movements as individual states report election results." In the lead-up to Election Day, memecoins and AI-related crypto tokens outperformed the overall crypto market. The sector of the crypto market is used as a measure of retail investors' risk appetite. The crypto market seemed to be positioning for a Trump victory Wednesday as investors monitored the results of the U.S. presidential election.

Persons: Memecoins, Donald Trump, Dogecoin, Shiba Inu, Chris Chung, Ryan Rasmussen, I'm, Trump, Chung, Elon, Nic Puckrin Organizations: Elon, Metrics, Titan, Solana, Bitwise Asset Management, CNBC, lotto, Trump, U.S, Securities, Exchange, of Government, Department of Government Locations: memecoins, bitcoin

☆ Trump, surrounded by pro-crypto advisors, signals a 'step change' for the industry, says Galaxy's Novogratz
▼ + stars: | 2024-11-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

It's the dawn of a new day for the crypto industry with Donald Trump now the president-elect of the United States, said Galaxy Digital's Michael Novogratz, calling out the numerous crypto advocates that have advised him. "We've got a Congress that is moving our way, we've got a president that's moving our way, and so for Galaxy and the crypto industry, that couldn't be more optimistic," he said on CNBC's "Squawk Box" Wednesday morning. "Those three positions, with someone who's open minded to crypto … changes everything," he said. And all of a sudden we'll start seeing decentralized systems launched and work so this is really a step change." The shift won't happen overnight, Novogratz warned, but as Trump starts to appoint people into various positions of leadership there will be "a substantial shift in the energy of this industry."

Persons: Donald Trump, Michael Novogratz, We've, we've, that's, Novogratz, Joe Biden, Trump, JD Vance, Peter Thiel, Howard Lutnick, Cantor Fitzgerald, Sen, Elizabeth Warren, Biden, Gary Gensler Organizations: Galaxy, Federal Deposit Insurance Corporation, Securities and Exchange Commission, Street, Bank of New, Silicon, SEC Locations: United States, U.S, Bank of New York

☆ These 2 stocks beat the S&P 500 in election Novembers no matter who won
▼ + stars: | 2024-11-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Two stocks have outperformed the S & P 500 every November when elections have been held over the past three decades — regardless of the outcome, according to a CNBC Pro study. Electrical and industrials giant Eaton Corporation and Sweden's second-largest lender, Svenska Handelsbanken , are the two stocks that beat the U.S. benchmark in November every election year. CNBC Pro screened for stocks currently in the MSCI World Index that gained more than the S & P 500 — or lost less than the index — in November of every election year since 1988. Every time is different Historical performance is never a guarantee of future performance, and stocks often move for idiosyncratic reasons. This year, for instance, the Federal Reserve is expected to announce a decision on interest rates on Thursday, which could also influence the trajectory of stocks.

Persons: Brett Linzey, Mizuho, Eaton, Arctic's Roy Tilley, Henry Allen, Pfizer's, Barack Obama, Allen Organizations: CNBC, Eaton Corporation, Svenska, CNBC Pro, Eaton Corp, Mizuho, Svenska Handelsbanken, Arctic Securities, Federal Reserve, Deutsche Locations: U.S, Industrials, Sweden, Greece, Europe

☆ Emperor penguin turns up on Australian beach, thousands of miles from home
▼ + stars: | 2024-11-06 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —An emperor penguin surprised locals when it appeared on a beach in Australia after making an epic journey of thousands of miles from its home in Antarctica. Ocean Beach is more than 2,200 miles due north of Antarctica, suggesting the penguin probably swam significantly further to reach Australia. “It stood up in the waves and just waddled straight up to us, an emperor penguin, he was probably about a meter high, and he was not shy at all,” he added. But as Earth’s temperature rises as a result of greenhouse gas and carbon dioxide emissions, sea ice is at risk of disappearing. This widespread “catastrophic breeding failure” is the first such recorded incident, according to the report, and supports grim predictions that more than 90% of emperor penguin colonies will be “quasi-extinct” by 2100 as the world warms.

Persons: CNN —, DBCA, ”, Belinda Cannell, ” Cannell, Aaron Fowler, ” Fowler, “, Emperor penguins Organizations: CNN, Australia’s Department of Biodiversity, Australia, University of Western, ABC Locations: Australia, Antarctica, Beach, Denmark, Western Australia, University of Western Australia, Bellingshausen

As the central bank lowers its benchmark rate, mortgage rates are expected to go down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering in the mid-6% range today, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates are in the high 5% range, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.

Persons: they've, Jerome Powell's, you'll, Freddie Mac, it's, They'll Organizations: Zillow, Fed Locations: Chevron

☆ Viral breakdancer Raygun will no longer compete after Olympics backlash
▼ + stars: | 2024-11-06 | by ( ) edition.cnn.com time to read: +2 min

Melbourne, Australia Reuters —Breaker Rachael “Raygun” Gunn’s signature kangaroo bounce will not be seen on a competitive stage again after the Australian declared she could not bring herself to battle following the backlash over her Paris Olympic performance. The 37-year-old was mocked online and in the mainstream media for everything from her moves to her green official team kit. “I’m not going to compete any more, no,” she said on 2DayFM. “I was going to keep competing, for sure, but that seems really difficult for me to do now to approach a battle. But, you know, that’s like in my living room with my partner.

Persons: Rachael “ Raygun, Gunn, “ I’m, “, “ It’s, Samuel Free, I’ve, ’ Organizations: Australia Reuters, Paris, Concorde, Sydney, Games, Australian Olympic Locations: Melbourne, Australia, Los Angeles

☆ Elon Musk's big bet on Trump is a home run for Tesla, says Wedbush's Dan Ives
▼ + stars: | 2024-11-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk's big bet on Trump is a home run for Tesla, says Wedbush's Dan IvesDan Ives, Wedbush Securities analyst, joins CNBC's 'Squawk on the Street' to discuss outlooks on Tesla following Donald Trump's election victory, what a Trump administration could mean for the electric vehicle landscape, and more.

Persons: Wedbush's Dan Ives Dan Ives, Donald Trump's, Trump Organizations: Elon, Trump, Tesla, Wedbush Securities

☆ Elon Musk bet big on Trump. Here’s what he stands to gain — and lose — from his win
▼ + stars: | 2024-11-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

New York CNN —No single business leader did more to support former President Donald Trump’s candidacy than Elon Musk. Musk has donated nearly $119 million so far to a political action committee he set up to support Trump, according to Federal Election Commission filings. Elon Musk steps onto stage as Republican presidential nominee, former President Donald Trump addresses a campaign rally in Butler, Pennsylvania on October 5. It will only help Tesla,” Musk posted on X in July. It’s not likely Trump would want to cut that support, and the promise of jobs in those states, even if they will eventually provide competition for Musk and Tesla.

Persons: Donald Trump’s, Elon, Trump, Musk, He’s, ”, Daniel Ives, Tesla, Kamala Harris, “, Biden, Elon Musk, Donald Trump, Anna Moneymaker, he’s, ” Musk, Ives, ” Ives, It’s, Jim Farley, Jeff Schuster, we’re, Jade Gao Organizations: New, New York CNN, Trump, Wedbush Securities, SpaceX, —, Treasury Department, Republican, EV, Tesla, EPA, Industry, Getty, Boeing, NASA, International Space Locations: New York, Tuesday’s, America, United States, Butler , Pennsylvania, Trump’s, Europe, Asia, California, China, Shanghai, Beijing, AFP, Tesla

☆ Trump claims presidential win. Here is what he promised the crypto industry ahead of the election
▼ + stars: | 2024-11-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +6 min

Former President Donald Trump arrives for his campaign rally at the Trump National Doral Golf Club in Doral, Florida, on July 9, 2024. Getting that money required him to make big promises pertaining to the crypto industry. "For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin," Trump said during his keynote speech. Trump pledged to maintain the current level of bitcoin holdings that the U.S. has amassed from seizing assets from financial criminals. "On day one, I will fire Gary Gensler," Trump said, referencing the Joe Biden-appointed SEC chairman who has taken an aggressive approach to crypto regulation.

Persons: Donald Trump, Joe Raedle, Elon Musk, Robert F, Kennedy, Jr, Cantor Fitzgerald, Howard Lutnick, Trump, MicroStrategy, Gary Gensler, Joe Biden, Gensler, Crypto, haven't, Sen, Elizabeth Warren, Bitcoin, Jerome Powell Organizations: Trump National Doral Golf Club, Getty, Republican, Strategic, White, U.S . Marshals Service, U.S . Securities, Exchange, SEC, Trump, Lago Club, Riot, Marathon Digital Holdings, Radical Communist, Federal Reserve Locations: Doral , Florida, Nashville, United States of America, Germany, America, Palm Beach , Florida, China, Russia, USA

☆ Elon Musk wins big by betting on Trump
▼ + stars: | 2024-11-06 | by ( Ana Altchek | ) www.businessinsider.com time to read: +6 min

Elon Musk used his money, power, and influence to help reelect former President Donald Trump. Musk has spent months strengthening his ties to Trump, using his platform on X to advocate for him and investing over $130 million in pro-Trump efforts. Some suggested Musk's actions might be a risk-hedging strategy to secure Trump's backing if he wins. AdvertisementWhat a Trump win means for Musk's business empireAside from direct influence within the government, a Trump presidency could lead to a lot of wins for Musk's business empire, which includes Tesla, SpaceX, The Boring Company, Neuralink, and X. Coglianese said Musk was also "banking on a president who will want to or be willing to repay Musk for his loyalty."

Persons: Elon Musk, Donald Trump, Trump, Musk, —, Elon, Cary Coglianese, Erik Gordon, Gordon, Francesco Trebbi, Karoline Leavitt, Coglianese, it's, Carl Icahn, Icahn, Joan MacLeod Heminway, Heminway Organizations: Service, Trump, Business, Penn, University of Pennsylvania, University of Michigan's Ross School of Business, Department of Government, Securities and Exchange Commission, Twitter, SpaceX, The Boring Company, Tesla, University of California, Department of Defense, Environmental Protection Agency, University of Tennessee Locations: Pittsburgh, Pennsylvania, Texas, California, University of California Berkeley

☆ Musk's bet on Trump is already paying off for Tesla
▼ + stars: | 2024-11-06 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

Tesla stock surged 12% in premarket trading following Trump's election victory. Musk's big bet on Trump has boosted analysts' confidence in Tesla's future prospects. AdvertisementElon Musk's big bet on Donald Trump is already paying off for Tesla. AdvertisementIn his victory speech early Wednesday, Trump paid tribute to Musk's efforts, calling him a "super genius" and a "new star." Trump win an 'overall negative' for EV industryDespite the surge in Tesla shares, Trump's victory could be bad news for the wider EV market.

Persons: Elon Musk, —, Elon, Donald Trump, Dan Ives, Musk, Gene Munster, Munster, Trump, Tesla's robotaxis Garrett Nelson, Ives, Nelson, Tesla, BYD Organizations: Trump, Service, Fox News, CNN, Electoral, Wedbush Securities, Tesla, Deepwater Asset Management, EV company's, Tesla's, CFRA Research, EV, Business Locations: Tesla, Butler , Pennsylvania, China

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