😲Bitcoin Nears $100K

☀️Good morning. It's Friday, Nov. 22, and we're covering, Adani Group Stocks And Bonds Decline Following US Indictment of Founder, DOJ Pushes For Major Breakup Of Google’s Search Monopoly, ICC Issues Arrest Warrants For Netanyahu, And Hamas Leader Over Gaza Conflict, and much more. First time reading? Sign up to get this newsletter: Sign up here.

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MARKETS

Cryptocurrency Prices by Market Cap

• Today's global cryptocurrency market cap is $3.29 Trillion, a 3.50% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $240.98B, which is a 19.73% increase.

• The total volume in Defi is currently $11.18B, 4.64% of the total crypto market 24-hours.

• The total volume of all stablecoins is now $217.17B, which is 90.30% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 59.45%, a decrease of 1.11% over the day.

Bitcoin Nears $100,000 As SEC Chair Gary Gensler Announces Resignation

Bitcoin is nearing the $100,000 milestone, reaching an all-time high of $99,119 as the cryptocurrency market rallies following Donald Trump’s election victory. Investor optimism stems from expectations of favorable crypto regulations under Trump’s administration, with the market cap of digital assets growing by over $1 trillion since election night. The surge coincides with SEC Chair Gary Gensler’s announcement that he will step down on January 20. Gensler, known for his strict anti-crypto enforcement actions, including lawsuits against Coinbase and Ripple, was criticized by the industry. (Read Deeper)

BUSINESS & FINANCE

Adani Group Stocks And Bonds Decline Following US Indictment of Founder

Adani Group stocks and bonds continued to fall for a second consecutive day following an indictment of founder Gautam Adani by U.S. prosecutors over a $265 million bribery scheme. Adani Green Energy, the company at the center of the case, saw an 8% drop in early trading, contributing to a $7 billion market value loss. The charges accuse Adani and others of bribing Indian officials to secure contracts for profitable renewable energy projects.

Why It Matters: The scandal has led to the cancellation of major deals, including a $2 billion airport concession in Kenya and a $736 million power line contract. S&P Global warned that the group may face difficulty accessing capital markets, and international investment in India’s renewable energy sector could decline due to concerns over transparency and due diligence. (Read Deeper)

Oil Prices Set For Weekly Gains Amid Ukraine War Escalation

Oil prices are on track for a weekly gain of more than 4%, driven by concerns over the escalating war in Ukraine. Russian President Vladimir Putin's warning of a global conflict heightened fears of disruptions to oil supply, particularly from Russia, one of the world’s largest producers. Brent and U.S. WTI crude futures rose, with Brent at $74.33 per barrel and WTI at $70.23 per barrel.

Takeaway: Russia currently produces approximately 9 million barrels of oil per day despite sanctions and production cuts by OPEC+. However, Ukraine’s recent drone attacks on Russian oil infrastructure, including refineries, have further added to the volatility in the market. Growing U.S. crude inventories and forecasts of surplus oil in 2024 have limited price increases. Analysts predict Brent will likely remain within a $70–85 range, although geopolitical risks could push prices higher, particularly if sanctions on Iran tighten. (Read Deeper)

TECHNOLOGY & SCIENCE

DOJ Pushes For Major Breakup Of Google’s Search Monopoly

The U.S. Department of Justice (DOJ) has proposed measures to address Google's alleged monopoly in online search and advertising. Key recommendations include forcing Google to sell its Chrome browser and potentially its Android operating system, prohibiting exclusive deals like those with Apple, and requiring Google to share search data with competitors. These measures aim to dismantle Google's dominance, which prosecutors argue stifles competition.

Takeaway: A court-appointed technical committee would enforce compliance, and Google would have to license search results and data to rivals at minimal cost. Google criticized the proposals as overreaching and harmful to innovation. The trial is scheduled for April, with Google set to present alternative remedies in December. The outcome could reshape the digital economy and competition in the tech industry. (Read Deeper)

SpaceX Secures Second Lunar Lander Deal For Starship With Lunar Outpost

SpaceX has signed its second commercial agreement to use the Starship lunar lander for a moon mission. The deal involves delivering Lunar Outpost's Eagle rover to the lunar surface by 2029. The rover, which is part of NASA's Lunar Terrain Vehicle (LTV) program, is being developed for potential astronaut use under the Artemis program.

Takeaway: While NASA plans to select only one provider for the lucrative $4.6 billion LTV program due to budget constraints, Lunar Outpost intends to continue rover development regardless of the outcome. The startup, supported by major industry partners and recent funding, sees the Eagle rover as vital for creating sustainable lunar and Martian outposts. (Read Deeper)

AROUND DE WORLD & POLITICS

ICC Issues Arrest Warrants For Netanyahu, And Hamas Leader Over Gaza Conflict

The International Criminal Court (ICC) issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu, former Defense Minister Yoav Gallant, and Hamas leader Ibrahim Al-Masri, citing alleged war crimes and crimes against humanity in the Gaza conflict. Netanyahu and Gallant are accused of actions such as murder, persecution, and using starvation as a weapon of war, linked to the blockade of Gaza. Al-Masri, linked to Hamas’ October 2023 attacks on Israel, is charged with mass killings, rape, and hostage-taking.

Takeaway: The warrants sparked varied reactions globally. Israel dismissed the ICC's jurisdiction, calling the decision antisemitic and absurd. The United States, a non-member of the ICC, also rejected the move, while the EU urged respect for the court's decision. Gaza residents and Hamas welcomed the warrants as a step toward justice. (Read Deeper)

Trump Nominates Pam Bondi As Attorney General After Matt Gaetz Withdraws

President-elect Donald Trump has nominated Pam Bondi, the former Attorney General of Florida, as his new pick for U.S. Attorney General, following Matt Gaetz’s withdrawal from consideration. Bondi, a long-time Trump ally, has been involved in Trump's legal team for several years, including during his first impeachment trial and the 2020 election fraud claims. Trump praised Bondi for her experience as a prosecutor and her tough stance on crime in Florida.

Takeaway: Bondi will lead the Department of Justice, managing over 115,000 employees and a $45 billion budget. Trump emphasized her role in refocusing the DOJ on crime fighting and restoring public trust. Bondi’s nomination came after Gaetz withdrew amid controversy over a report on sexual misconduct allegations against him. Gaetz expressed support for Bondi’s selection, calling her a "stellar" choice for the position. (Read Deeper)

ENTERTAINMENT & SPORTS

Chelsea Captain Reece James Faces Another Injury Setback

Chelsea captain Reece James is facing another injury setback after suffering a hamstring issue during training, as confirmed by manager Enzo Maresca. This is James' second injury since returning from a lengthy absence following hamstring surgery last season. Although Maresca downplayed concerns about a long-term injury, James will miss Chelsea's upcoming match against Leicester and is unlikely to be ready for their Conference League game the following Thursday. James has struggled with repeated injuries, including multiple hamstring issues, and knee, thigh, and ankle problems, and has not had a consistent run of games in recent seasons. (Read Deeper)

What Comcast's Spinoff Means For MSNBC And NBC News

Comcast's decision to spin off MSNBC, along with CNBC and E!, into a separate entity has raised questions about the future of the liberal-leaning network. The $7 billion deal, expected to be completed in about a year, will separate MSNBC from NBC News, though NBC will continue to provide news-gathering services. The spinoff reflects the changing media landscape, as cable TV faces a decline due to the rise of streaming. It could also bring pressure on salaries, particularly for high-paid stars like Rachel Maddow. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• The integration of the Lightning Network with Bitcoin helps strike a balance between Bitcoin as a Medium of Exchange (MOE) for daily transactions and its role as a Store of Value (SOV). (Listen)

EXTRA BREVITI

• DOJ is seeking to unwind Google's $2 billion partnership with AI startup Anthropic as part of a broader antitrust case targeting Google’s dominance in online search. (Read More)

• Intuit’s stock fell 6% in extended trading Thursday after the financial software company issued a second-quarter revenue forecast that came in below Wall Street expectations. (Read More)

• WhatsApp has announced a new feature that will allow users to transcribe voice messages into text, making it easier to keep up with conversations when unable or unwilling to listen to a message. (Read More)

• Apple is working on a new version of its voice assistant, Siri, which will be powered by advanced large language models (LLMs). (Read More)

• Byju’s Founder Allegedly Tried to Stop Ally’s Testimony in U.S. Court. (Read More)