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    Bitcoin Comeback? Ex-Binance CEO CZ Teases New All-Time High

    Few would have thought the situation could change so much by Friday, but there is one person in the crypto market who planted the seed of such an idea.We are talking about Changpeng Zhao, or CZ as he is better known in the crypto space, the former head of the world’s largest crypto exchange, Binance. In a tweet dated Dec. 17, CZ stated in one of his tweets that he was waiting for headlines as the price of Bitcoin dropped from $101,000 to $85,000 and also quite ambitiously asked to “save this tweet.” Fast forward three days, and here we are. The concerned crypto public did not fail to call out the former Binance CEO for such predictions, to which he responded with a more bullish post. Zhao stated that we should expect to see more headlines discussing Bitcoin hitting an all-time high, and moreover, it will continue “again, and again, and again,” according to CZ.Zhao mentioned the cyclical nature of the cryptocurrency market earlier. Based on what he said, it was assumed that similar to previous market events, a real bull market could occur in 2025, while this year is more of a recovery phase after a bear market.Whether CZ’s expectations come true or not, and whether Bitcoin will update its all-time high, we will find out in the very near future.This article was originally published on U.Today More

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    Goldman Sachs sees modest growth impact from EU defense spending

    “Market participants have grown increasingly focused on a potential EU fiscal policy response via higher defence spending,” analyst said.Defence budgets have already risen since the Ukraine invasion but remain below NATO’s 2% of GDP target in several member states. Potential funding options include national fiscal deficits, repurposing Next (LON:NXT) Generation EU funds, or creating a multilateral defence funding facility.The most likely approach involves a mix of national deficits and the European fund, but early implementation faces hurdles, including political uncertainty in Germany, France, and EU institutional approval. Any significant changes are unlikely before 2025, Goldman noted.Raising defence spending to 2.25% of GDP or 2.5% by 2026 would increase the structural deficit by 0.3%-0.5% annually over the next three years, note added.The economic impact is expected to be modest, with defence spending multipliers estimated at 0.6 due to high import and short-lived effects compared to investment.Goldman estimates the fiscal impulse from higher defence spending would add not much significant annual growth until 2027, up to 0.2 percentage points.A larger boost could occur if spending leads to reduced foreign input dependence and an expansion of Europe’s defence industry. More

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    Mandelson slammed as ‘moron’ by Trump adviser after being named US ambassador

    $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition More

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    O.XYZ Launches OSOL100 AI Index – The S&P 100 of Solana’s AI Ecosystem

    O.XYZ, the leading decentralized Super AI project, announces the launch of OSOL100, a first-of-its-kind AI index token designed to capture the cumulative value of Solana’s top 100 AI projects. This innovative token provides users with direct exposure to Solana’s AI infrastructure, agents, and meme tokens, all through one easily managed and fully transparent investment tool.OSOL100 simplifies investment strategies while enhancing portfolio diversification. It tracks and represents the performance of the top 100 AI-focused projects within Solana’s thriving ecosystem, offering accessibility to the most promising developments. Each OSOL100 token functions as a decentralized share of the fund, hosted on DAOS.fun, providing proportional exposure to its assets.Launched by O.XYZ, OSOL100, OSOLDOCS aligns with the company’s mission to create the world’s first Sovereign Super AI — an AI owned and governed by the community to benefit humanity. Powered by SuperMissO, the first AI CEO in development, OSOL100 embodies O.XYZ’s vision of an autonomous, community-led future. OBOT token holders gain exclusive access to OSOL100, enhancing the value and utility of their existing holdings.O.XYZ’s technical foundation centers on building an AI ecosystem designed to be shutdown-resistant and self-led. Their key initiatives include developing ‘Sovereign Super intelligence,’ creating decentralized infrastructure, and researching hyper-fast AI systems.The project operates under the O.Systems Foundation, led by Ahmad Shadid. Shadid, who previously founded IO.NET– a $3B Solana DePIN — brings his experience to O.XYZ’s work on building an autonomous, community-led AI ecosystem.ContactVP Biz DevHassan TariqO.XYZhassan@o.xyzThis article was originally published on Chainwire More

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    The global inflation battle is stalling and diverging

    $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition More

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    ‘Big man to big man’: how the luxury industry is preparing for Trump

    Donald Trump gave LVMH’s billionaire chief executive Bernard Arnault a pumping handshake as they exited the lifts in the gold and marble lobby of Trump Tower in Manhattan.  “One of the great men, Mr Arnault,” said Trump — then president-elect for the first time around — as they wrapped up the January 2017 meeting. “They’re [LVMH] going to do some wonderful things in this country. Jobs. A lot of jobs.” The world’s biggest luxury group obliged. In 2019, Trump attended the opening of Louis Vuitton’s Texan factory, its third on US soil, where he declared that Arnault had “really delivered”, especially as some products would bear “Made in the USA” labels. Eight years on, that relationship may prove an advantage for LVMH as the threat of tariffs looms large. The second Trump administration has threatened to levy across-the-board tariffs of up to 20 per cent on exports from Europe while China risks being much harder hit. Trump attended the opening of Louis Vuitton’s Texan factory, its second on US soil More

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    Swiss strike EU deal after decade of talks

    $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition More

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    US House Speaker Mike Johnson’s future hangs in balance as he scrambles for funding deal

    WASHINGTON (Reuters) -Mike Johnson’s hold on the speakership of the U.S. House of Representatives has been tenuous almost since the day he was elected.The Louisiana Republican only ended up with the job in October 2023 after the unruly members of his House caucus deposed then-Speaker Kevin McCarthy and cast about for someone who could amass enough votes to replace him. He won after three other candidates fell short during a tumultuous three-week period that brought the House to a halt.The soft-spoken Johnson, 52, had never served in the higher levels of House leadership before. His decision to move forward with a massive bipartisan spending bill in December to keep the government funded drew intense fire from hard-right members of his party – and most importantly, President-elect Donald Trump.Trump told House Republicans to scrap the first bill on Wednesday and a second version Johnson negotiated on Thursday failed in a vote on the House floor when 38 Republicans rejected Trump’s demand to lift the federal government’s debt ceiling and the measure Johnson had spent a day negotiating. That left Johnson and his allies scrambling to find another way to avoid a Christmas shutdown, something Republican leaders had hoped to prevent given that they take control of both the House and the Senate next month.”With such a narrow majority, he has done good a job and survived longer than expected until this huge miscalculation on the (bill),” said Ron Bonjean, a longtime Republican consultant in Washington. “However, it’s difficult to imagine anyone else being successful in this position with an ungovernable conference and little room to navigate with such a divided House.”Johnson told reporters on Friday that he was plotting next steps, saying “We have a plan.”When the next Congress is sworn in on Jan. 3, Johnson must stand for re-election – and it won’t be easy. His initial majority will be just 219-215, narrower than its current 219-211. Assuming no Democrat votes for Johnson, he will have almost no breathing room with which to work. Already two Republicans, Representatives Paul Gosar and Thomas Massie, have said they won’t back him. Another caucus hardliner, Marjorie Taylor Greene, on Thursday floated the idea of picking a new leader.Johnson’s office did not immediately respond to a request for comment on Thursday, while he huddled with allies to try to plot a course forward.Whether others stick with Johnson will depend on whether he can somehow pull off a new spending bill that contains Republican priorities but omits Democratic ones. That is a formidable high-wire act, given that Democratic votes may be needed to pass the bill in the House and definitely will in the Senate, where Democrats currently hold a 51-49 majority.Thursday’s failed vote sharply increases the odds that parts of the federal government will begin to shut down on Saturday.TIED TO TRUMPJohnson had tried to dodge this scenario by supporting Trump at every turn during his presidential bid and becoming a fixture at his events. Most recently, he met with Trump at Saturday’s Army-Navy college football game even as the funding measure was being hashed out. But for Trump, loyalty has mostly been a one-way street. He will stand by his political allies when it serves his interest, but as McCarthy found out, he is willing to sacrifice them if necessary.McCarthy engendered the wrath of the caucus’ conservatives by striking a budget deal with President Joe Biden in much the same manner that Johnson attempted to do with his funding plan. Both leaders discovered that satisfying both mainstream and hardline Republicans is a nearly impossible task. Following McCarthy’s history-making ouster, several Republicans, including hardline conservative Jim Jordan and more establishment-oriented choices Tom Emmer and Steve Scalise failed to attract enough support to win the speakership. Johnson, a low-profile Christian conservative lawyer from northwest Louisiana who was far down the leadership roster, emerged as a compromise choice. Almost immediately, Johnson’s tenure was embattled. In April, he was forced to rely on Democratic votes to pass a sweeping aid package for Ukraine, a measure opposed by the hardliners in his caucus. Even then there was talk among them of replacing him.Should Johnson somehow survive and serve another term as speaker, it likely will be only due to Trump’s support. And then from that point on, Johnson will owe the new president his political life. More