💣️Bomb Threats On Trump Cabinet

☀️Good morning. It's Thursday, Nov. 28, and we're covering Pony AI's Valuation Reaches $5.25B Following Nasdaq Debut, T-Mobile Confirms No Customer Data Compromised In Telco Cyberattack, Bomb Threats Target Trump Cabinet Nominees And Officials, 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 $3.3 Trillion, a 2.32% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $200.61B, which makes a 10.50% decrease.

• The total volume in Defi is currently $15.67B, 7.81% of the total crypto market 24-hours.

• The volume of all stablecoins is now $184.17B, which is 91.80% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 57.11%, a decrease of 0.17% over the day.

Bitcoin Surges Above $97K, Then Dips, As Ethereum And XRP Experience Major Gains

Bitcoin briefly soared above $97,000, sparking speculation about reaching the $100,000 milestone, before dropping back to around $95,500. The surge was driven by broader optimism in the crypto market, with Bitcoin gaining 3.3% in the past 24 hours. Ethereum (ETH) led the charge, surging 7%, while other major cryptocurrencies like XRP, BNB Chain, and Dogecoin saw gains of 6% or more. (Read Deeper)

BUSINESS & FINANCE

Pony AI's Valuation Reaches $5.25B Following Nasdaq Debut

Chinese autonomous driving technology company, Pony AI, made its Nasdaq debut on Wednesday, with shares opening at $15 each, marking a 15% increase from its offering price of $13. This pricing gives Pony a valuation of $5.25 billion. Pony AI's successful listing follows similar efforts by Chinese companies WeRide and Zeekr, which have also entered the U.S. market despite the challenging regulatory environment in China.

Takeaway: In its initial public offering (IPO), Pony AI sold 20 million American depositary shares, raising $260 million. An additional $153 million worth of shares were bought by strategic investors in private placements. Underwriters, including Goldman Sachs, BofA Securities, Deutsche Bank, Huatai Securities, and Tiger Brokers, have the option to purchase another 3 million shares, potentially increasing total proceeds to $452.4 million. (Read Deeper)

Toyota’s Global Declines For Ninth Consecutive Month In October

Toyota’s global vehicle production fell for the ninth consecutive month in October, though the decline was less severe than in previous months. The automaker produced 893,164 vehicles worldwide, a 0.8% drop compared to October 2023. This was an improvement over the 8% drop recorded in September. In Japan, production rose by 8%, recovering from last year’s setbacks caused by an accident at a supplier’s plant. Output in Canada and Mexico also increased by 2%.

Takeaway: The decline in production was driven by significant drops in key markets, including the United States and China. U.S. production plummeted 13%, primarily due to a four-month suspension of Grand Highlander and Lexus TX SUV assembly caused by airbag issues. (Read Deeper)

TECHNOLOGY & SCIENCE

T-Mobile Confirms No Customer Data Compromised In Telco Cyberattack

T-Mobile has assured customers that hackers did not gain access to sensitive data such as call and text message logs during a recent cyberattack targeting telecom companies. The company detected attempted intrusions into its systems, which originated from an external telecom provider linked to T-Mobile's network. Although T-Mobile could not confirm the identity of the attackers, it acted swiftly to sever connections with the compromised provider and reinforce its cybersecurity measures.

Takeaway: This incident is part of a larger, China-backed espionage campaign, with the hacking group Salt Typhoon allegedly targeting several telecom giants, including AT&T, Verizon, and Lumen. These attacks are believed to be aimed at gathering communications data on U.S. officials and senior figures. (Read Deeper)

Microsoft Faces Extensive U.S. Antitrust Investigation

The U.S. Federal Trade Commission (FTC) has initiated a broad antitrust investigation into Microsoft, scrutinizing its software licensing, cloud computing practices, and its role in artificial intelligence (AI) and cybersecurity products. The inquiry, approved by FTC Chair Lina Khan, examines allegations that Microsoft uses restrictive licensing terms to lock customers into its Azure cloud services and disadvantage competitors like Amazon and Google.

Takeaway: NetChoice, a lobbying group, and Google have criticized Microsoft's practices, including allegedly overcharging Windows Server on rival cloud platforms and delaying security updates. The FTC is also probing Microsoft's $650 million acquisition of AI startup Inflection AI and its broader AI activities. As the investigation progresses, Microsoft could face substantial consequences if found to be engaging in anti-competitive practices. (Read Deeper)

AROUND DE WORLD & POLITICS

Bomb Threats Target Trump Cabinet Nominees And Officials

Some of Donald Trump's cabinet nominees and White House team picks have been targeted by bomb threats and swatting incidents, prompting federal investigations. At least nine nominees, including those for Defense Secretary, U.S. Ambassador to the United Nations, and EPA Administrator, were affected. The incidents occurred Tuesday night and Wednesday, with law enforcement acting swiftly to ensure their safety.

Takeaway: The threats come amid increased political tensions and follow similar hoax tactics used against other high-profile figures, including judges and prosecutors involved in Trump’s legal battles. President Joe Biden has been briefed on the incidents, and the White House confirmed it is in communication with federal law enforcement and Trump’s team. US Capitol Police are collaborating with other agencies to address the threats while minimizing details to prevent copycat incidents. (Read Deeper)

U.S. Intelligence Assesses Nuclear Threat from Russia As Unlikely

U.S. intelligence sources have assessed that the risk of a nuclear attack from Russia remains low, even after the U.S. allowed Ukraine to use American-supplied long-range ATACM missiles to strike deeper into Russian territory. Despite Russian President Vladimir Putin's escalating rhetoric, intelligence reports indicate that nuclear escalation is unlikely, as nuclear weapons are seen as a last resort with limited military benefits.

Takeaway: Russia is expected to intensify hybrid warfare, including sabotage and cyberattacks, targeting European nations that support Ukraine. These actions aim to undermine Western resolve and pressure NATO allies to reduce their backing of Kyiv. The decision to permit Ukraine's use of long-range weapons was partly influenced by North Korea's recent involvement, which saw thousands of its soldiers joining Russia’s war effort. (Read Deeper)

ENTERTAINMENT & SPORTS

Taylor Swift: Billboard’s No. 2 Greatest Pop Star Of The 21st Century

Taylor Swift has been named Billboard's No. 2 Greatest Pop Star of the 21st Century, cementing her status as one of the most influential and successful artists of our time. Since emerging as a teenage country singer, Swift has evolved into a global icon, redefining music genres, reshaping industry norms, and captivating audiences worldwide. Her sophomore album, Fearless (2008), catapulted her to crossover success with hits like “Love Story” and “You Belong With Me.” It spent 11 weeks at No. 1 on the Billboard 200 and earned Swift her first Grammy for Album of the Year in 2010, making her the youngest recipient at the time. (Read Deeper)

Liverpool 2-0 Real Madrid: Reds Cruise Past Madrid

Liverpool secured a 2-0 win over Real Madrid at Anfield, extending their unbeaten run to 13 matches ahead of their crucial Premier League clash with Manchester City. After a quiet first half, goals from Alexis Mac Allister and Cody Gakpo in the second half gave Liverpool the victory. Despite missed penalties by Kylian Mbappé and Mohamed Salah, the win moved Liverpool to the top of their UEFA Champions League group with a perfect record. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• John Huber, a prominent investor and the founder of the investment firm Sven's Thoughts, is widely recognized for his long-term, quality-focused investing philosophy. His approach to investing emphasizes the importance of quality businesses, holding investments over the long term, and a patient, disciplined strategy. (Listen)

EXTRA BREVITI

• Israel-Hezbollah Ceasefire Brings Calm to Northern Border but Leaves Gaza in Crisis. (Read More)

• Amazon has reportedly developed a new generative AI model capable of processing images and videos alongside text. (Read More)

• The U.S. Federal Trade Commission (FTC) is investigating Uber Technologies Inc. for potential consumer protection violations related to its Uber One subscription service. (Read More)

• Mark Zuckerberg Takes Notice of Bluesky's Rapid Growth as Rivalry Heats Up. (Read More)