AICoin Focus: Daily Hot Picks (November 16)

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1. Trump nominates Bitcoin supporter Robert Kennedy as U.S. Secretary of Health, plans to form a pro-crypto team including several cryptocurrency advocates, including Elon Musk.

2. The case of Musk manipulating DOGE ends as investors withdraw their appeal, drawing attention to his movements in the crypto market.

The lawsuit against Musk for manipulating DOGE has concluded as investors withdrew their appeal. -Original

3. Federal Reserve's Goolsbee states that interest rates may be significantly lowered in the next 12 to 18 months, as long as inflation continues to decline.

Federal Reserve's Goolsbee stated that as long as inflation continues to move towards the Fed's 2% target, interest rates will be significantly lower in the next 12-18 months. However, Goolsbee agreed with Fed Chair Powell's view that policymakers are not in a hurry to cut rates. Goolsbee said, "As long as we continue to move towards the 2% inflation target, interest rates will be much lower than they are now in the next 12 to 18 months." -Original

4. U.S. national debt surpasses $36 trillion for the first time, raising market concerns about the economic situation.

The U.S. national debt has surpassed $36 trillion for the first time in history. -Original

5. CME Bitcoin futures weekly contracts favored by institutional investors, reflecting increased demand for the digital asset market.

CME's Bitcoin Friday futures weekly contracts have been favored by institutional investors, reflecting a growing demand for the digital asset market. Since its launch at the end of September, CME Bitcoin Friday futures contracts have traded over 380,000 contracts, with an average daily trading volume of 12,400 contracts. -Original

6. JPMorgan analysts believe cryptocurrency regulation under the Trump administration may see positive progress.

Odaily Planet Daily reports that the cryptocurrency market has surged after the U.S. elections, with Bitcoin reaching an all-time high of about $93,500 this week. JPMorgan analysts outlined six key regulatory and market changes that could reshape the U.S. cryptocurrency landscape under the Donald Trump administration and its Republican-led Congress. Analysts indicated that several stalled crypto bills could be quickly approved. This includes the "Financial Innovation and Technology Act of the 21st Century" (FIT21), which could provide much-needed regulatory clarity by defining the oversight responsibilities of the SEC and CFTC. Additionally, as the regulatory framework becomes clearer, the SEC's enforcement strategy may evolve into a more collaborative approach. They noted that high-profile lawsuits against companies like Coinbase may be eased, settled, or even withdrawn. The SEC's "Staff Accounting Bulletin No. 121" (SAB 121), which restricts banks from holding digital assets, may be repealed. The SEC may seek to resolve lawsuits regarding unregistered securities and require the launch of futures-based ETFs for these assets before approving spot ETFs. These factors could delay the approval of new ETFs or require re-filing. Clearer regulations may increase venture capital, mergers and acquisitions, and initial public offerings in the cryptocurrency space. Although strategic Bitcoin reserves would significantly enhance Bitcoin's legitimacy and could potentially drive up its price, the likelihood of this passing is low. -Original

7. Michael Saylor states that Bitcoin is America's "manifest destiny," with plans for a $100,000 New Year party underway.

As MicroStrategy plans to repurchase $42 billion worth of BTC, Michael Saylor stated that Bitcoin is America's "manifest destiny." Preparations for the long-awaited $100,000 Bitcoin party are also underway, with Saylor expecting the party to take place around New Year's Eve. -Original

8. Goldman Sachs reveals holding $710 million in Bitcoin ETFs, showing Wall Street's interest in crypto assets.

9. Bank of America states that as the cryptocurrency rebound progresses, the momentum of Meme coins may weaken.

Bank of America stated that as the cryptocurrency rebound progresses, the momentum of Meme coins may gradually weaken. -Original

10. U.S. prosecutors plan to scale back handling of crypto cases, reallocating resources to other financial crimes.

The Manhattan U.S. Attorney's Office plans to scale back its handling of cryptocurrency cases. A prosecutor stated that the department will reallocate resources to prioritize other types of financial crime cases. -Original

11. South Korean crypto exchange Upbit faces scrutiny for allegedly violating KYC requirements and may face hefty fines.

South Korea's leading crypto exchange Upbit is under scrutiny for allegedly violating KYC (Know Your Customer) requirements. During its license renewal period, reports indicated that Upbit accepted vague identification documents as verification materials, with potential fines of up to $71,500 for each violation. -Original

12. Ethereum ETF records highest weekly trading volume since launch, showing continued investor interest in the asset.

In the past week, the trading volume of the Ethereum ETF exceeded $1.63 billion, an increase of over 44% compared to the previous week. Here are excerpts from The Block's data and insights newsletter. -Original

13. Trump nominates Bitcoin supporter Robert Kennedy as U.S. Secretary of Health, further indicating his pro-crypto policy inclination.

Odaily Planet Daily reports that U.S. President-elect Trump has nominated Bitcoin supporter and former Democrat Robert Kennedy (RFK Jr.) as the U.S. Secretary of Health and Human Services (HHS). RFK Jr. advocated for establishing a Bitcoin strategic reserve during the 2024 presidential campaign to stabilize the dollar and exempt Bitcoin gains from capital gains tax, with part of his personal wealth invested in Bitcoin. Trump stated in a statement that Kennedy will "make America healthy again," committed to eliminating corruption in industrial food and pharmaceuticals. Kennedy's nomination is part of Trump's pro-crypto team, which includes vice-presidential candidate JD Vance and defense secretary nominee Pete Hegseth. Notably, Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy will co-lead the newly established government efficiency department "DOGE." Additionally, market rumors suggest that Robinhood's Chief Legal Officer Dan Gallagher may succeed Gary Gensler as the chair of the SEC, who currently has a tough stance on the crypto industry. -Original

14. Kraken's L2 network Ink has launched fault proof and phase 1 features, advancing blockchain technology.

Crypto exchange Kraken's Layer 2 network Ink announced on social media that it has launched fault proof and phase 1 features. Supported features include: · Self-extraction of assets to Ethereum; · Reviewing and challenging rollup transactions on Ink; · A security committee will protect assets in case of disputes. -Original

The above is a selection of hot topics from the past 24 hours. For faster news, please download AICoin (aicoin.com)

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