November began on a positive note, as the Nasdaq Crypto Index (NCI) increased 2.3%. Notably, ether (ETH) took the lead with a 5.3% gain, while bitcoin (BTC) was up 1.0%. This momentum can be attributed in part to ongoing optimism surrounding a spot bitcoin ETF in the US, as well as the macro and monetary policy environment.
Bitcoin is 'exponential gold,' says Fidelity executive
Fidelity’s Director of Global Macro Jurrien Timmer views bitcoin as the "next-generation gold," a concept embraced particularly by younger generations. He believes BTC has the potential to thrive in specific economic circumstances, much like traditional gold. This perspective aligns with recent positive remarks from BlackRock’s CEO and supports the ongoing acceptance of BTC as an important portfolio consideration.
Former FTX CEO “SBF” found guilty in fraud trial
Sam Bankman-Fried has been convicted on all seven criminal charges, with the jury finding him guilty of committing multiple types of fraud, affecting FTX customers, Alameda Research lenders, and FTX investors. He faces up to 115 years in prison.
PayPal gets crypto green light in UK as SEC targets its stablecoin
Paypal registered as a crypto service provider with the UK’s Financial Conduct Authority in yet another major crypto-friendly move by the payment giant. In the US, however, the payment titan disclosed a SEC action related to the issuance of its US dollar stablecoin.
From Hashdex: Notes from the CIO: The Bulls are Back in Town
In this month’s Notes from the CIO, Samir Kerbage discusses bitcoin's appeal as a safe-haven asset, the potential for a spot ETF, and the opportunity for investors as a bull market takes shape.
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