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    Trump victory kicks off the battle for the right’s future

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    Trump’s self-defeating pledges on the economy

    Standard DigitalStandard & FT Weekend Printwasnow $29 per 3 monthsThe new FT Digital Edition: today’s FT, cover to cover on any device. This subscription does not include access to ft.com or the FT App.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 editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal 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 editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

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    Celebrating the Success of Zircuit’s ZRC EigenLayer Fairdrop

    Zircuit, the chain where innovation meets security, is thrilled to announce the success of its EIGEN Fairdrop initiative. With a first-of-its-kind distribution of 2% of ZRC tokens to eligible EIGEN holders, Zircuit has introduced a model of fairness and inclusivity in the Ethereum staking ecosystem, underscoring a commitment to decentralization and community empowerment.The EIGEN Fairdrop, an industry first, provided equal shares to over 190,000 eligible EIGEN holders and moved away from traditional distribution models that often favor larger stakeholders. Within just the first week, over 51,000 users claimed their ZRC and this fair and community-first approach has garnered widespread appreciation across the crypto space.The Fairdrop includes a wide range of contributors to the EigenLayer ecosystem, extending beyond EIGEN stakers to support Uniswap liquidity providers, EtherFi eEIGEN holders, and Renzo ezEIGEN holders. Zircuit protects users from hacks through its built-in, automated AI techniques that guard against smart contract exploits and malicious actors. Bolstered by its strong security infrastructure, Zircuit is the central hub for restaked assets featuring unparalleled security and allowing users to potentially earn industry-leading yields natively. With $1.8 billion in Total (EPA:TTEF) Value Locked (TVL), Zircuit is the premier liquidity hub for restaked assets (ETH, BTC, LSTs, and LRTs) where users can receive stronger security guarantees and trust.During Mainnet, users can bridge their assets and start staking to potentially earn rewards and airdrops from the Zircuit ecosystem at the Liquidity Hub. To learn more about Zircuit, users can visit zircuit.com or read the developer docs at docs.zircuit.com About ZircuitZircuit provides developers with advanced features and users with peace of mind. Built by a team of web3 security experts and PhDs, Zircuit merges high performance with unparalleled security, making it the safest choice for DeFi and staking. Users can visit zircuit.com or follow us on Twitter/X @ZircuitL2.ContactJenniferZircuitjen@zircuit.comThis article was originally published on Chainwire More

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    Fed Chair Jerome Powell’s Remarks Ripple Through Crypto Market: Details

    Bloomberg has shared a few takeaways along these lines, noting that, overall, Powell tried not to offer forward guidance on where rates might go from here, leaving his options open for the December meeting and beyond.Powell emphasized that the economy is strong, so officials can take their time lowering interest rates. He also stated that policy remains restrictive despite the latest rate cut, and that policymakers are working to bring interest rates back to neutral levels.As for when the Fed will adjust the pace of its rate cuts, Powell said officials might move faster if the labor market deteriorates and slow cuts as they near neutral. However, he stated that officials have yet to decide on this issue. Powell did, however, mention that he was “feeling good” about the economy as a whole.The markets posted a reaction: Stocks continued to rise, with the S&P 500 on track for another record close. Bitcoin was also trading near its record high of over $76,000.The central bank’s decision was generally anticipated by markets ahead of time. At its previous meeting in September, the Fed began lowering interest rates by 50 basis points.Bitcoin and other cryptocurrencies have mostly profited from low interest rates; hence, the impact on the markets is not farfetched, as Bitcoin and the majority of cryptocurrencies have seen gains.Bitcoin rose about 2% in the last 24 hours to $76,259, while Solana, ADA and Cronos (NASDAQ:CRON) (CRO) gained 9%, 17% and 25%, respectively. Jupiter, Pyth, Neiro and GOAT saw gains ranging from 10% to 13%.One Fed meeting remains on the docket for this year, Dec. 17 to 18, with traders pricing in about a 75% possibility of another rate cut, according to CME Group’s (NASDAQ:CME) FedWatch tool.This article was originally published on U.Today More

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    Cardano Climbs 16% In Bullish Trade

    The move upwards pushed Cardano’s market cap up to $15.7212B, or 0.63% of the total cryptocurrency market cap. At its highest, Cardano’s market cap was $94.8001B.Cardano had traded in a range of $0.4043 to $0.4507 in the previous twenty-four hours.Over the past seven days, Cardano has seen a rise in value, as it gained 26.97%. The volume of Cardano traded in the twenty-four hours to time of writing was $1.3151B or 0.98% of the total volume of all cryptocurrencies. It has traded in a range of $0.3206 to $0.4507 in the past 7 days.At its current price, Cardano is still down 85.47% from its all-time high of $3.10 set on September 2, 2021.Bitcoin was last at $76,385.7 on the Investing.com Index, up 0.46% on the day.Ethereum was trading at $2,932.54 on the Investing.com Index, a gain of 3.02%.Bitcoin’s market cap was last at $1,511.3191B or 60.19% of the total cryptocurrency market cap, while Ethereum’s market cap totaled $353.6107B or 14.08% of the total cryptocurrency market value. More

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    US economy could ‘overheat’ under Trump, warns bond giant Pimco

    Standard DigitalStandard & FT Weekend Printwasnow $29 per 3 monthsThe new FT Digital Edition: today’s FT, cover to cover on any device. This subscription does not include access to ft.com or the FT App.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 editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal 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 editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

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    Bitcoin price today: tops $76k on Fed rate cut cheer, Trump victory

    The world’s largest cryptocurrency rallied to record highs this week amid optimism over friendlier U.S. regulations during a second Trump presidency. The Fed’s interest rate cut on Thursday added to this rally, as the bank signaled that the U.S. economy remained strong, and that it will likely ease monetary policy further.Bitcoin rose 1.4% to $76,029.0 by 08:25 ET (13:25 GMT). Bitcoin surged to a record high of $76,837.8 on Thursday, and remained in sight of these peaks after Trump’s victory sparked sharp gains in crypto markets.Bitcoin was at the forefront of these gains, as markets bet that Trump will roll out more crypto-friendly regulations, as promised by his campaign. Trump had vowed to make the U.S. the “crypto capital” of the world, although he did not specify just what his policies would entail for the crypto industry. Still, crypto bulls bet that Trump’s policies would give Bitcoin more legitimacy as an investment vehicle, boosting its adoption by institutional investors. Risk appetite was furthered by the Fed cutting interest rates by 25 basis points, as widely expected, on Thursday. Chair Jerome Powell said that the U.S. economy was in a good place, and signaled that the bank would continue to ease monetary policy, albeit cautiously. Powell also said that the Fed’s path was unchanged in the face of near-term political changes in the U.S., but would adapt to changing policies in the long-term.His comments spurred gains across most risk-driven assets, with Wall Street hitting a record high on Thursday. These gains also spilled over into crypto.Still, the longer-term outlook for interest rates was seen turning more uncertain, especially with Trump expected to enact more inflationary policies. Crypto prices were headed for a stellar week, with Bitcoin trading up nearly 10%.World no.2 crypto Ether jumped 4.4% to $2,929.03 on Friday, and was set for an over 15% gain this week- its best since mid-May.Memecoin Dogecoin was a standout performer this week, up nearly 22% in its second consecutive week of double-digit gains.Solana (SOL), now the fourth largest cryptocurrency by market cap, has broken past $200 for the first time since April, driven by Trump’s election victory.The cryptocurrency has risen over 9% in the last 24 hours and around 20% over the past week, reaching a market cap of $95 billion, according to CoinGecko. Early Friday, SOL hit a high of $204.4, marking its highest value since April 1, 2024.Meanwhile, Cardano (ADA) has surged 16% over the past day, outperforming most other major digital assets. ADA crossed 43 cents on Friday, hitting levels not seen since late July. Key factors driving recent price increases include a broader market rally and renewed interest in decentralized finance (DeFi).Moreover, some analysts note ADA’s popularity among retail investors as a growth driver.Ambar Warrick contributed to this report.  More

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    Spanish central banker set to inherit big challenges as next BIS head

    $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