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SkyBridge Capital founder Anthony Scaramucci on Wednesday took a contrarian view to one of the most polarizing economic debates, even though it could have a negative impact on savers and low- and moderate-income households. He said the United States would effectively deal with the debt crisis by allowing inflation to rise slightly, if at all. Ahead of the November 5th election. The technical default comes after the government announced its budget deficit for the fiscal year ending Sept. 30 was $1.833 trillion, an 8% increase over fiscal 2023, making it the third largest in the federal government. This further exacerbated…

New York CNN — Former President Donald Trump’s social media stock is suffering a sudden decline after an outrageous rally over the past five weeks that has nothing to do with the company’s actual business. Shares of Trump Media & Technology Group, the owner of Truth Social, plunged 22.3% on Wednesday. This was Trump Media’s worst one-day loss since going public in March, narrowly surpassing the 21.5% loss on April 1. Mr. Trump’s controlling stake in the company was valued at about $5.9 billion when it closed above $51 on Tuesday. By the close of trading Wednesday, the value of…

Paul Grewal, Chief Legal Officer of Coinbase, talks about “The Emergence of Cryptocurrency Voters” on “The Claman Countdown.” Coinbase, the world’s largest cryptocurrency exchange, is already looking ahead to next week’s presidential election and planning to influence the 2026 midterm elections with a new $25 million pledge to crypto super PAC Fairshake. This was learned from information from FOX Business. The company says it plans to make a donation in 2025 as part of its continued efforts to keep cryptocurrencies an important part of the political debate. Although it is unclear how exactly this money will be used, FairShake and…

Super Micro Computer stock (SMCI) plunged on Wednesday, dropping more than 32% after filings revealed accounting firm Ernst & Young (EY) was withdrawing from relationships with tech companies. did. In his resignation letter, EY said: “I am resigning due to recently revealed information that I can no longer rely on the representations of management and the audit committee and that I no longer wish to be associated with the financial organization.” Once management has submitted a statement made and reached its conclusion, it will no longer be able to provide audit services in accordance with applicable law or professional obligations.…

A prominent Bitcoin billionaire predicts that Ethereum is about to reach an all-time high, potentially sparking a massive surge in alternative cryptocurrencies. This expected rise could pave the way for lesser-known digital coins to experience significant growth. Investors are closely watching the market, looking for affordable tokens that have the potential to deliver impressive gains during this expected upswing. Among these promising tokens is XYZVerse (XYZ), a pioneering meme coin that connects sports and esports fans, aiming for exponential growth beyond previous successful tokens. Dominate the field with XYZ: the next meme coin champion! The game is on and XYZ…

top line Metaplatforms’ stock price fell more than 3% on Wednesday as it reported profit and revenue that beat Wall Street expectations. Meta’s logo at its headquarters in Menlo Park, California. (Photo by: Kelly Sullivan/Getty Images for … (+) Facebook)Getty Images for Facebook important facts According to FactSet, Meta reported earnings of $6.03 per share and revenue of $40.2 billion in the third quarter of 2024, compared to analysts’ expectations for earnings of $6.03 per share and revenue of $40.5 billion. Reported. The number of daily active users across apps rose 5% year-on-year to 3.29 billion, but fell short of…

Important points Stablecoin collateral currently accounts for approximately $120 billion in U.S. Treasury holdings. Potential risks remain as the stablecoin sector relies on Treasury bills. Share this article The U.S. Treasury, in a presentation to the Treasury Borrowing Advisory Committee (TBAC), explained how stablecoin growth will reshape demand for Treasury bills and determine the proportion of Treasury bills in future issuance. Outlined what could be changed.An estimated $120 billion of stablecoin collateral is held in U.S. Treasuries, much of it through investments in T-bills and Treasury-backed repurchase transactions, with T-bills currently rapidly gaining momentum in the crypto market. This shows…

TL;DR Ripple co-founder Chris Larsen endorsed Kamala Harris, citing her pro-innovation stance and ties to the Bay Area tech scene. US presidential candidates have recently expressed support for a crypto regulatory framework aimed at protecting vulnerable groups, but have yet to provide specific policy details. “I’m excited about Harris’ economic message.” With less than a week until the US presidential election (scheduled for November 5th), Republican Donald Trump and Democrat Kamala Harris will face off. Many industry insiders say the former is a better choice for pro-crypto voters, given his positive attitude toward the industry, which has been demonstrated in…

The cryptocurrency market is trading relatively flat after Bitcoin rose above $71,000. Cryptocurrency price rise +/-Bitcoin BTC/USD $71,930.79-1%Ethereum ETH/USD $2,662.75-1.3%Solana SOL/USD $174.39 -2.3%Dogecoin DOGE/USD $0.1684 -1.4%Shiba Inu SHIB/USD $0.00001844 -2.3% Notable statistics: According to IntoTheBlock data, large transaction volume is down 57.6% and daily active addresses are up 7.8%. Transactions over $100,000 increased from 9,521 to 13,547 in one day. The exchange’s net flows increased by 322.7%. No Bitcoin holders are currently losing money. According to data from Coinglass, 49,256 traders liquidated for $145.86 million in the past 24 hours, the lowest amount of short-term liquidations since October 19. Notable…

Chainlink (LINK) creator Sergey Nazarov says the blockchain industry could grow by hundreds of trillions of dollars with one major catalyst. In a new interview at the Hong Kong FinTech Week 2024 conference, Nazarov said Chainlink has developed a way to connect blockchain technology with payments giant SWIFT, opening the door to large-scale traditional finance (TradFi) adoption. said. “Therefore, the logical next step is to use SWIFT This is a series of demonstrations in pre-production form that shows how it actually works in production. work. And how it will ultimately be used in live trials and how these big banks…