📈Bitcoin Surged Past $81K

☀️Good morning. It's Monday, Nov. 11, and we're covering, Asian Markets Slip As China’s Stimulus Falls Short, U.S. Orders TSMC To Stop AI Chip Shipments To China, UN Climate Wants To Finance Poor Nations To Address Climate Change, 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

• The global cryptocurrency market cap today is $2.78 Trillion, a 4.70% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $230.4B, which makes a 105.45% increase.

• The total volume in Defi is currently $13.94B, 6.05% of the total crypto market 24-hours.

• The total volume of all stablecoins is now $209.72B, which is 91.02% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 57.98%, an increase of 0.42% over the day.

Bitcoin Soars Past $81,000, Riding High On Trump’s Pro-Crypto Promises

Bitcoin surged past $81,000, reaching an all-time high, as investors anticipate a pro-crypto regulatory environment under newly elected U.S. President Donald Trump. Trump has pledged to make the U.S. the "crypto capital of the planet" and has expressed support for building a national Bitcoin reserve. The cryptocurrency giant has now more than doubled from its yearly low of $38,505, reaching an intraday peak of $81,899 before settling around $81,572. (Read Deeper)

BUSINESS & FINANCE

Asian Markets Slip As China’s Stimulus Falls Short

Asian markets dipped on Monday as Hong Kong stocks led declines following China’s latest stimulus announcement, which disappointed investors hoping for more direct economic support. The Hang Seng index fell 2.5%, with Chinese property shares down nearly 4%, while Japan’s Nikkei dropped 0.3% and South Korea’s Kospi slid 0.9%. Investors were let down by Beijing’s 10 trillion yuan debt package, which, rather than injecting cash directly, aims to ease local government financing and stabilize economic growth.

Takeaway: The disappointment in China’s stimulus package overshadowed what could have been a positive lead from Wall Street. The S&P 500 had set a new milestone by briefly surpassing 6,000 points last week, signaling optimism in U.S. markets. Futures on the index pointed to further gains on Monday, showing resilience despite challenges in Asian markets. (Read Deeper)

Delivery Hero To Take 15% Of Talabat Public In Dubai IPO

Delivery Hero plans to list 15% of its Middle Eastern food delivery unit, Talabat, in Dubai by mid-December, aiming to raise around $1 billion. The IPO, one of the largest in the region this year, will help Delivery Hero optimize its finances while maintaining majority control. Talabat is set to offer substantial dividends, targeting a 90% net income payout after 2026. With $6 billion in gross merchandise volume in 2023, Talabat has seen rapid growth, though analysts warn that potential competition could impact its valuation.

Takeaway: This IPO adds to a series of recent high-profile listings in the Middle East. Recently, Oman’s state-owned energy company raised a record $2 billion, and UAE-based Lulu Retail Holdings Plc went public with a $1.72 billion IPO. Delivery Hero has expanded its Middle Eastern presence through acquisitions, including UAE-based operations of Zomato in 2019 and grocery platform InstaShop in 2020. (Read Deeper)

TECHNOLOGY & SCIENCE

U.S. Orders TSMC To Stop AI Chip Shipments To China

The U.S. has ordered Taiwan Semiconductor Manufacturing Co. (TSMC) to stop shipping advanced chips to Chinese customers, including chips used in AI applications, as part of heightened export restrictions. The order, starting Monday, impacts chips of 7-nanometer technology or more advanced, which are often used in AI accelerators and GPUs. This measure follows a recent TSMC notification to the Commerce Department that one of its chips had been found in a Huawei AI processor, possibly breaching export controls.

Takeaway: TSMC’s suspension will affect multiple Chinese clients, including chip designer Sophgo, and aims to limit Huawei’s access to advanced AI chip technology. The Commerce Department's “is informed” letter allows for rapid enforcement without formal rule-making, addressing lawmakers' concerns about export control enforcement in China. This move is an ongoing U.S. effort to curb China’s access to advanced technology, though broader rule updates on tech exports to China remain pending from the Biden administration. (Read Deeper)

China Advances Toward Nuclear-Powered Aircraft Carrier

China is working on developing its first nuclear-powered aircraft carrier, as revealed through satellite images and government documents. Researchers from the Middlebury Institute of International Studies identified a prototype nuclear reactor being built in Sichuan province, which is likely intended for use on a large warship. This marks China’s clear move toward joining the U.S. and France in operating nuclear-powered carriers. The development is part of China’s broader strategy to modernize its navy, which is already the largest in the world.

Takeaway: The prototype reactor is located at a facility controlled by the Nuclear Power Institute of China, which is responsible for reactor engineering research. Documents indicate the reactor is designed for a large surface warship, and other features, including steam generators and turbine pumps, align with naval propulsion systems. While China has not officially confirmed the launch of a nuclear-powered carrier, the development is seen as a key step in China's ambition to build a "blue-water" navy capable of operating far from its shores. (Read Deeper)

AROUND DE WORLD & POLITICS

UN Climate Wants To Finance Poor Nations To Address Climate Change

The UN climate talks (COP29) in Baku, Azerbaijan, are focused on securing financial support for poorer nations to address climate change. These nations, which contribute little to global emissions, require trillions of dollars to transition to clean energy, adapt to climate impacts, and compensate for existing damage. The current financial commitment of $100 billion annually is insufficient, with experts arguing that at least $1 trillion is needed.

Takeaway: The discussions also revolve around reallocating global funds, such as military spending and fossil fuel subsidies, to finance climate action. Tensions exist over who should contribute, as richer nations have historically been responsible but emerging economies like China are now also seen as capable contributors. The outcome of COP29 will influence the success of future climate negotiations, with financial support seen as key to addressing the climate crisis. (Read Deeper)

Ukraine And Russia Exchange Largest Drone Strikes Since War Began

Ukraine and Russia have launched their largest drone attacks against each other since the war began. Russia intercepted 84 Ukrainian drones, with some approaching Moscow, leading to disruptions at three major airports. Ukraine's air force reported that Russia launched 145 drones towards Ukraine, most of which were shot down. Russian airstrikes in Mykolaiv killed five people and injured others. In October, Russian forces made territorial gains but suffered heavy casualties, with about 1,500 dead or injured daily.

Takeaway: Ukraine's attack on Moscow was described as its biggest on the capital to date. Several drones were downed in Moscow suburbs, including Ramenskoye, where falling debris injured five people and caused fires. In Ukraine, at least two people were injured in a drone strike in the Odesa region. The Ukrainian air force reported shooting down 62 Russian drones, with others either lost or turning back towards Russia. (Read Deeper)

ENTERTAINMENT & SPORTS

Is the Premier League Title Race Over

The Premier League title race is shaping up to be a contest primarily between Liverpool and Manchester City after 11 games. Liverpool, currently five points clear of City, has been in impressive form under new manager Arne Slot, and their attacking strength gives them a significant advantage. However, pundits caution that injuries and the demands of competing in both the Premier League and Champions League could test their title ambitions. (Read Deeper)

Leonardo DiCaprio Celebrates Early 50th Birthday In Star-Studded Style

Leonardo DiCaprio kicked off his 50th birthday celebrations with a lavish bash over the weekend, surrounded by friends, family, and an impressive roster of Hollywood stars. The actor, who turns 50 on November 11, started the festivities with an intimate dinner with loved ones at his Los Angeles home before throwing a larger party that attracted several A-list guests. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Outperforming the market, managing risk, and identifying market inefficiencies are key pillars for successful investing. (Listen)

EXTRA BREVITI

• The Web Summit, Europe's largest tech conference, is underway in Lisbon, bringing together industry leaders and policymakers to discuss key issues such as artificial intelligence, and social media regulation. (Read More)

• X (formerly Twitter) has announced that lawsuits against the social media platform will now be handled in the U.S. District Court for the Northern District of Texas. (Read More)

• The Temple of Satan Gains Ground in Chile as Faith in Traditional Religions Wanes. (Read More)

• OpenAI Blocks 250,000 Deepfake Requests During 2024 US Elections. (Read More)

• Rita Ora paid a heartfelt tribute to Liam Payne at the 2024 MTV Europe Music Awards on November 10, honoring the late One Direction star weeks after his tragic passing. (Read More)