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☆ Trump still hasn’t signed ethics agreement required for presidential transition
▼ + stars: | 2024-11-09 | by ( Betsy Klein | Alayna Treene | ) edition.cnn.com time to read: +6 min

As president, Trump repeatedly came under fire from ethics groups for potential conflicts of interest relating to his businesses and brands. A source familiar with the process acknowledged that details are still being worked out with the Biden administration regarding the ethics agreement, which is required by law under the Presidential Transition Act and which applies to all members of the transition team. Updates to that bill requiring the ethics pledge were introduced by Trump ally Sen. Ron Johnson, a Wisconsin Republican, and signed into law by Trump himself in March 2020. The Trump team ignored a pair of key preelection deadlines to unlock transition activities with the Biden administration’s General Services Administration and the White House. The ethics agreement was also due by October 1.

Persons: Donald Trump, Biden, Trump, Trump’s, Sen, Ron Johnson, Valerie Smith Boyd, Boyd, Max Stier, Joe Biden’s, Stier, ” Stier, ”, Jeff Zients, Howard Lutnick, Linda McMahon, Jamie Raskin, ” Raskin, George W, Al Gore’s, CNN’s Arlette Saenz, Fredreka Schouten Organizations: CNN, Trump, Wisconsin Republican, Truth, Biden, Services Administration, White, GSA, Center, Public Service, Public, “, Vance Locations: Wisconsin, Maryland, Florida

☆ Piper Sandler says Trump will usher in a wave of mainstream crypto adoption — so buy these stocks
▼ + stars: | 2024-11-09 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

"Its monetized crypto offering is significantly more robust than traditional retail brokerage peers, with over 15 tokens available to trade," the analyst wrote of Robinhood. Still, Moley's $30 price target on Robinhood is only a fraction above where the stock closed Thursday. Moley's $250 price target implies that CME stock could add another 13% over the next 12 months. Moley's $35 price target is nearly 5% higher than where the stock closed on Thursday. Shares of Cboe have added 12% this year, trailing the broader market, and Moley's $220 price target implies an additional 9% upside.

Persons: Trump, Piper Sandler, Cryptocurrency, bitcoin, Patrick Moley, Moley, HOOD Organizations: CME Group, CME, BTC, ETH, Virtu, Derivatives, Clearing Locations: U.S

☆ What Trump might do on Day One of his presidency
▼ + stars: | 2024-11-09 | by ( Bryan Metzger | Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Trump has promised to do a variety of different things on "Day One" of his second term. "Many things will be done on day one," Trump said at a town hall with Tucker Carlson in Phoenix in late October. Trump has promised to issue several executive orders when he takes office, though some of them are likely to be challenged in court. "Day One" promises that Trump may not be able to fulfillSome "day one" commitments are simply not possible. AdvertisementAt times during the campaign, Trump pledged to "end inflation" just hours after taking office.

Persons: Trump, —, Donald Trump's, Tucker Carlson, Donald Trump, Joe Biden, Jack Smith, pardoning, Smith, Hugh Hewitt, Gary Gensler, Gensler, Biden Organizations: Service, Social Security, White, American Civil Liberties Union, Republican, Department, Securities and Exchange Commission, Federal Reserve, Fed Locations: Phoenix, Wisconsin

AdvertisementSome venture capitalists expect US President Donald Trump to dial back regulation, potentially making it easier to develop new technologies and do business in Silicon Valley. Related VideoWhile many in Silicon Valley dislike Trump, many VCs and startup founders crave more freedom to pursue riskier new technologies unburdened by regulation. E-acc," referring to the recent Silicon Valley movement that wants technological advancements in AI to move as fast as possible, without any guardrails. Regulation has held Silicon Valley back in recent yearsVCs during Biden's presidency have complained about how tough it's been to get deals done. AdvertisementVCs anticipate an innovation boomAmerica is a country of entrepreneurs, and that's especially true in Silicon Valley.

Persons: —, Donald Trump, Elon, Ben Narasin, we've, Trump, Musk, cheekily, Vance, Augustus Doricko, Kamala Harris, Aaron Levie, Harris, Mark Pincus, Biden's, Louis Lehot, Foley, Lardner, Lina Khan —, it's, Biden, JD Vance, Khan, Mason Angel, who's, he's, Narasin, Ben Thompson, Rainmaker's Doricko, Angel Organizations: Service, Elon, Venture, White, Department of Government, Zynga, acc, Google, Microsoft, Nvidia, Federal Trade Commission, Department of Justice, Trump, Republican, Big Tech, FTC, SpaceX, Space Force Locations: Silicon Valley, Silicon

☆ Bitcoin's on track to hit $100,000 after Trump's election victory, analysts say
▼ + stars: | 2024-11-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Bitcoin is on track to hit the $100,000 price milestone by the end of the year after President-elect Donald Trump's election victory, according to analysts. Bitcoin at $100,000 "doesn't sound so unreasonable" given it equates to "just 10% of gold's market share," Butterfill told CNBC in emailed comments. BTC to hit $100K by Trump's inauguration A $100,000 bitcoin price is likely to be reached by the time Trump is inaugurated president on Jan. 20, 2025, according to Fadi Aboualfa, head of research at crypto custodian Copper.co. Still, with bitcoin exchange-traded funds currently holding roughly 1.1 million bitcoins, momentum is likely to be positive in the coming months, Aboualfa added. It cuts in half the supply of bitcoin issued to miners who successfully produce new bitcoins.

Persons: Donald Trump's, James Butterfill, Butterfill, Trump, Kamala Harris, Gary Gensler, CoinShares, Kooner, Fadi Aboualfa, Aboualfa Organizations: Republicans, CNBC, Wednesday, U.S . Securities, Exchange Commission, SEC, Federal Reserve, BTC, Trump's Locations: America, bitcoin, U.S

☆ 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

☆ Elon Musk joined Trump's call with Zelenskyy, showing the Tesla CEO's new influence after spending at least $119 million on the campaign
▼ + stars: | 2024-11-08 | by ( Bryan Metzger | Alice Tecotzky | ) www.businessinsider.com time to read: +2 min

Elon Musk reportedly joined Trump's calls with two world leaders, including Zelenskyy. Musk worked hard to elect Trump and is likely to have influence in the administration as a result. AdvertisementElon Musk joined President-elect Donald Trump's calls with both Ukrainian President Volodymyr Zelenskyy and Turkish President Recep Tayyip Erdogan this week, according to several reports. Axios reported that Musk told the Ukrainian leader that he would continue to support the besieged country via his Starlink satellites. Beyond supporting Trump's campaign financially, Musk joined the president-elect at rallies and held solo town halls.

Persons: Elon Musk, It's, Musk, Trump, —, Donald Trump's, Volodymyr Zelenskyy, Recep Tayyip Erdogan, Axios, Erdogan, Musk's, DOGE Organizations: Service, The New York Times, Trump, Zelenskyy, Mar, Reuters, of Government, Tesla, SpaceX, Tech Locations: Turkish, Silicon, Washington

☆ Trump could pick government’s top ethics official – after key ally blocked Biden’s choice
▼ + stars: | 2024-11-08 | by ( Fredreka Schouten | ) edition.cnn.com time to read: +3 min

CNN —President-elect Donald Trump could be in a position to select the government’s top ethics czar when he assumes office in January – after a key ally in the Senate blocked President Joe Biden’s pick to head the Office of Government Ethics. The federal agency is charged with monitoring compliance with ethics laws that are aimed at preventing corruption. Walter Shaub, the OGE director when Trump first took office in 2017, clashed repeatedly with the then-president at the start of Trump’s first term. Among other things, he openly criticized Trump for not relinquishing ownership of his real estate and licensing empire. The previous OGE director, Trump appointee Emory Rounds, left the position in July 2023.

Persons: Donald Trump, Joe Biden’s, Republican Sen, Mike Lee of, David Huitema, Biden, Lee, Harris, ” Huitema, Lisa Gilbert, ”, ” Gilbert, Virginia Canter, Trump, Walter Shaub, Shaub, Jimmy Carter, George W, Bush, Emory Rounds, Shelley Finlayson Organizations: CNN, Republican, Biden, State Department, Public Citizen, Democratic, Truth, Trump, Trump Organization Locations: Mike Lee of Utah, Washington

☆ Binance CEO says he hopes for regulatory clarity after Trump victory
▼ + stars: | 2024-11-08 | 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 EmailBinance CEO says he hopes for regulatory clarity after Trump victoryBinance CEO Richard Teng discusses positive cryptocurrency movements after Donald Trump's election victory in the U.S. and the need for "regulatory clarity."

Persons: Richard Teng, Donald Trump's Organizations: Trump Locations: U.S

☆ CNBC Daily Open: The Trump rally kicks off
▼ + stars: | 2024-11-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineDonald Trump's victory in the U.S. presidential elections is providing a tailwind to risk assets. The Trump rally, in short, has begun. To be sure, yesterday's frenzy could have been a relief rally as much as a Trump rally. For now, however, the Trump rally is lighting up the markets.

Persons: Donald Trump, Brian Snyder, Donald Trump's, Marc Pinto, Janus Henderson, Trump's, Tesla, Elon Musk, bitcoin, Trump, Angelo Kourkafas, Edward Jones, Yung, Yu Ma, Jesse Pound, Scott Schnipper, Alex Harring, Yun Li Organizations: Santander Arena, Reuters, CNBC, U.S, Janus, Janus Henderson Investors, Trump, Bank, General Motors, Ford, EV, Dow Jones, Nasdaq, BMO Wealth Management Locations: Reading , Pennsylvania, U.S

Caroline Ellison, the star witness in the prosecution of FTX founder Sam Bankman-Fried, reported to a low-security federal prison in Connecticut on Thursday, according to a spokesman for the Bureau of Prisons. The federal Probation Department had recommended that Judge Lewis Kaplan sentence Ellison to three years of supervised release, with no time behind bars. Kaplan allowed Ellison to remain free on bail until surrendering to prison either on or after Nov. 7. He was sentenced to 25 years in prison in March and also was ordered to pay $11 billion in forfeiture by Kaplan. Both Bankman-Fried and Ellison had faced the same statutory maximum sentence of about 110 years in prison for their crimes.

Persons: Caroline Ellison, Sam Bankman, Ellison, Lewis Kaplan, Kaplan, FTX spiraled, I've, Miss Ellison, Nishad Singh, Fried Organizations: Alameda Research, Bureau of Prisons, federal, Department Locations: New York, Connecticut, Alameda, Fried . Alameda, FTX, U.S, Manhattan

☆ Donald Trump becoming president again is 'extremely positive' for the crypto industry: Chainlink
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDonald Trump becoming president again is 'extremely positive' for the crypto industry: ChainlinkSergey Nazarov of Chainlink weighs in on how a second Trump presidency will affect the cryptocurrency industry.

Persons: Donald Trump, Sergey Nazarov, Trump

☆ 2 crypto tycoons are almost $15 billion richer after Trump's election victory
▼ + stars: | 2024-11-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Two crypto moguls' joint wealth rose by about $15 billion on the back of Trump's election victory. Binance's Chaopeng Zhao and Coinbase CEO Brian Armstrong added about $12 billion and $2.6 billion each. AdvertisementTwo cryptocurrency tycoons saw a near-$15 billion boost to their combined wealth on Wednesday as Donald Trump won the presidential election. One result was the world's 12 richest people grew more than $70 billion richer in a single day, per Bloomberg's wealth rankings. Exclude him and his 11 peers have grown a combined $505 billion richer this year — a figure that exceeds the market value of Oracle ($502 billion).

Persons: Binance's Chaopeng Zhao, Brian Armstrong, —, Donald Trump, Changpeng Zhao, Zhao, Elon, Binance, Elon Musk, Anthony Harvey, Kamala Harris, Musk, Larry Ellison, Berkshire Hathaway's Warren Buffett, Jeff Bezos, Bernard Arnault Organizations: Service, Bloomberg, Trump, Ethereum, Republican, Democratic, Oracle Locations: Solana, Berkshire

☆ Expect Japan to continue being crypto-friendly, not crypto-easy: SBI
▼ + stars: | 2024-11-07 | 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 EmailExpect Japan to continue being crypto-friendly, not crypto-easy: SBI Digital Asset HoldingsFernando Luis Vazquez Cao of SBI Digital Asset Holdings discusses crypto regulations in Japan and says that the Japanese Financial Services Agency has been "super receptive" to having cryptocurrency ETFs listed.

Persons: Digital Asset Holdings Fernando Luis Vazquez Cao Organizations: Digital Asset Holdings, SBI Digital Asset Holdings, Japanese Financial Services Agency Locations: Japan

☆ Big Tech CEOs send well wishes to Trump
▼ + stars: | 2024-11-06 | by ( David Ingram | David Ingram Is A Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

Trump’s win came about with the help of Musk and his wealthy tech friends including investors Peter Thiel and David Sacks. They boosted Trump with financial contributions, fundraising help and public endorsements on subjects such as the economy and deregulation. Few other major tech executives publicly endorsed in the presidential race, though some of them made vague comments praising one or the other candidate. Trump has a complicated history with many tech CEOs. In their social media posts, several tech CEOs used the word “decisive” to describe Trump’s victory and they employed popular buzzwords like “innovation” in an apparent attempt to identify common ground.

Persons: Donald Trump, Elon Musk, Mark Zuckerberg, Tim Cook, Sundar Pichai, Satya Nadella, Sam Altman, Jeff Bezos, Andy Jassy, Trump, ” Zuckerberg, ” Trump, Zuckerberg, —, Musk, Trump’s, Peter Thiel, David Sacks, Bezos, Reid Hoffman, — wouldn’t, ”, bitcoin, Musk’s, Parler, Jeff, Mike Davis, Ivan Raiklin, Cook Organizations: Tech, Trump, titans, Meta, Apple, Microsoft, Amazon, The Washington, Democratic, Trump’s, Pentagon, The Washington Post, III, Trump Tower, Google Locations: Silicon Valley, Butler , Pennsylvania, Tesla, Coinbase, County, State

Leading the way was Trump Media and Technology Group (TMTG), the company that owns the Truth Social media platform. Shares of Tesla, the electric automaker owned by Elon Musk, also saw a sizable gain — up 12%. Finally, the price of bitcoin saw an increase of 6.5%, briefly touching an all-time-high of more than $75,000. Trump served as keynote speaker at this year's annual Bitcoin conference in Nashville. Trump has generally pledged to extend or enact major tax cuts while loosening regulations, something that the business community is set to embrace.

Persons: Donald Trump —, Trump, Elon Musk, Musk, Kamala Harris, Isaac Boltansky Organizations: Trump Media, Technology, Social, TMTG, Tesla, Elon, Democratic, Trump Locations: Nashville

☆ Volatility, higher rates, and surging bitcoin. Here's what analysts are saying about Trump's victory.
▼ + stars: | 2024-11-06 | by ( Will Martin | ) www.businessinsider.com time to read: +3 min

Analysts expect Trump's economic policies to increase inflation, and push interest rates higher. AdvertisementDonald Trump's victory is set to herald a new era of higher inflation, tighter monetary policy, and surging cryptocurrencies, analysts said in initial reactions to the presidential election result. The economic impact of Trump's second term is likely to be volatile, said Lindsay James, investment strategist at UK-based Quilter Investments. However, such cuts could be shortlived if Trump's trade policies, which include proposed near-universal tariffs, prove to be inflationary as expected. Bitcoin could hit $100,000One asset that analysts expect to surge in the wake of Trump's victory is bitcoin, which rallied sharply early on Wednesday morning.

Persons: Donald Trump, —, Donald Trump's, Lindsay James, Elon Musk, Thomas Matthews, Trump, Russ Mould, AJ Bell Organizations: Service, Investments, Federal Reserve, Capital Economics, Rabobank, White

☆ These stocks are soaring off the Trump victory
▼ + stars: | 2024-11-06 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

That would mark a reversal from the Biden administration, which allowed migrants seeking asylum to legally work in the country while awaiting trial. A Trump administration is expected to approve Capital One's proposed merger with Discover Financial Services. Andrew Caballero-Reynolds/AFP/Getty ImagesGenerally, a Trump administration is expected to be more supportive of mergers and acquisitions compared to the Biden administration, which has sought to block many. Retail and green energy stocks falterWednesday wasn’t all good news for stocks, though. Trump is widely expected to repeal tax credits and other incentives President Joe Biden pushed for in the Inflation Reduction Act.

Persons: Donald Trump’s, Biden, It’s, Trump, Tesla Elon, Tesla, Donald Trump's, Elon Musk, Trump . Thibaut Durand, Hans Lucas, JPMorgan Chase, Jamie Dimon, Michael Barr, Goldman Sachs, Andrew Caballero, Reynolds, bitcoin, Joe Biden Organizations: New, New York CNN, Prisons, GEO Group, SpaceX, Trump ., Getty, Bank, JPMorgan, Federal, Citigroup, Discover Financial Services, Capital, Republican, JetBlue, Spirit Airlines, Trump, Mattel, Hasbro Locations: New York, AFP

☆ 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

☆ CNBC Daily Open: Amid focus on elections, don’t take your eyes off markets
▼ + stars: | 2024-11-06 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. CNBC's election liveblogAs results for the U.S. presidential election start trickling in, CNBC is covering updates live. Markets rally as investors await resultsU.S. markets experienced a broad rally on Tuesday. Individual sectors' movements, however, are more sensitive to the sitting president because their policy often touches on specific parts of the economy.

Persons: Europe's, Hugo Boss, Stocks, It's, doesn't, Bob Pisani, Crypto's, Coinbase Organizations: CNBC, U.S, NBC Locations: Asia, China, U.S

☆ Silicon Valley's Trump boosters celebrate: 'It's time to build'
▼ + stars: | 2024-11-06 | by ( Melia Russell | ) www.businessinsider.com time to read: +5 min

Tech leaders who openly supported Donald Trump took to X to celebrate his win Wednesday morning. AdvertisementAs former president Donald Trump swept to victory Wednesday morning, supporters in Silicon Valley posted messages of congratulations and even gloated over his return to the Oval Office. Some of tech's most high-profile and wealthiest names offered their first reactions after major news networks called the race for Trump. The billionaire owner of X and Tesla watched the election results roll in with Trump from Mar-a-Lago. AdvertisementMarc Andreessen, an early Facebook and Coinbase investor via his firm Andreessen Horowitz, had a curious relationship with Trump.

Persons: Donald Trump, Keith Rabois, —, Chamath Palihapitiya, Shaun Maguire, Trump . Elon Musk, Tesla, Joe Biden, Israel —, Musk, Trump, Doug Leone, Joe Lonsdale, David Sacks, Obama, Biden, Harris, Sacks, Leone, Marc Andreessen, Andreessen Horowitz, Andreessen Organizations: Tech, Service, tech's, Trump, Trump ., Mar, San Francisco, Republicans, Israel, Craft Ventures, Republican National Convention, Business, Federal, Commission, National Republican, Founders Fund, SpaceX, Khosla Ventures Locations: Silicon Valley, Sequoia, America, San, Pennsylvania, Rabois

☆ Stocks making the biggest moves midday: Super Micro Computer, Tesla, Coinbase, Planet Fitness and more
▼ + stars: | 2024-11-06 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Crypto stocks — Cryptocurrency-related names soared after investors bet that a Trump presidency would lead to a more supportive regulatory environment. Cannabis stocks — Shares of cannabis companies dropped after voters rejected a Florida ballot measure to legalize the sale and use of marijuana in the state. Dollar Tree and Dollar General also respectively lost more than 6% and 5%. Steel stocks — U.S.-based steel stocks rallied on the back of Trump's victory. Shares of Nucor and Cleveland-Cliffs respectively rallied 16% and 20%, while United States Steel climbed 8%.

Persons: Donald Trump, Donald Trump's, Trump, Tesla, bitcoin, Goldman Sachs, Wells, Joe Biden's, Sunrun, Wegovy, CoreCivic, Trump's, — CNBC's Michelle Fox, Alex Harring, Hakyung Kim, Sarah Min, Samantha Subin Organizations: Republican, Trump Media & Technology, Bank, Citigroup, Bank of America, Wells Fargo, CVS Health, CVS, Trump, SolarEdge Technologies, Enphase Energy, Novo Nordisk —, Novo Nordisk, — Geo, White, Aurora Cannabis, —, CNBC, Holdings, Steel, U.S, Cliffs, United States Steel Locations: Novo Nordisk — U.S, Danish, Florida, Tilray, U.S, Canada, China, Cleveland

☆ 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

☆ Bitcoin drifts near $69,000 on election night as crypto investors see choppy trading ahead
▼ + stars: | 2024-11-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

It is currently 5% off its all-time high, after trading near it last week. Stocks tied to the price of the cryptocurrency got a boost in earlier trading during regular stock market hours. Investors are expecting bitcoin trading to be choppy until a clear winner is declared. "Expect bitcoin – and crypto more broadly – to be choppy in the days ahead … until we have definitive election results." "For now, everyone we've spoken to is keeping their powder dry," said James Davies, CEO at crypto futures and options trading platform Crypto Valley Exchange.

Persons: bitcoin, Stocks, Kamala Harris, Donald Trump, Ryan Rasmussen, Rasmussen, Harris, Julio Moreno, James Davies, I've Organizations: U.S, Metrics, Investors, Bitwise Asset Management, Trump, Federal

Bitcoin, an asset tied to a Trump victory given the candidates courtship of the industry, soared to a record $75,000 . Heading into the election, investors and analysts pointed to several stocks and sectors that could benefit from a Trump win. Here's a roundup of some of those: Steel stocks If Trump regains the presidency, JPMorgan expects steel stocks to outperform . Related stocks that could outperform under a Trump victory include Nucor , Cleveland-Cliffs , Kaiser Aluminum and MP Materials , according to Peterson. Supporters of Trump have also used the stock as a way to invest in a Trump victory.

Persons: Donald Trump ., Trump, Kamala Harris, Here's, Bill Peterson, Peterson, UBS's, Goldman Sachs, Strategas, Lazard, Wolfe, Tesla, Elon Musk's, Marion Laboure, bitcoin, Nic Puckrin, David Zerzos, Zerzos, Marcelli, Seth Seifman, Russell, Joe Biden, IWM, —, Halliburton, Trump's, ULTA, Michael Bloom, Sean Conlon, Alex Harring, Fred Imbert, Pia Singh Organizations: U.S, NBC, Stock, Dow Jones Industrial, Trump, JPMorgan, Aluminum, Financials Bank of America, of America, UBS's Trump, UBS, Swiss, Citigroup, Citizens, Wolfe Research, GOP, Trump Media & Technology, Trump Media, ISI, Deutsche Bank, Investors, Jefferies, Military, Strategas, Gas Energy, Evercore ISI, Exxon Mobil, Halliburton, Companies Locations: Nucor, Cleveland, U.S, China, U.S . Southern

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