Author: NathanofZion

The latest price moves in bitcoin (BTC) and crypto markets in context for Nov. 7, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

A motion filed earlier this week rejected several of Kraken’s defenses and complained that the exchange was “trying to re-litigate the same issues repeatedly.”

The President-Elect promised pardons for the protestors and to commute Ulbricht’s sentence when he was on the campaign trail.

Olaf Scholz is looking to bring the general election forward to March from September.

BlackRock’s iShares Bitcoin Trust registered $4.1 billion in volume traded as bitcoin broke out to all-time highs.

Under such a proposal, bitcoin would be established as a strategic reserve asset and the government could buy up to 5% of the cryptocurrency’s total supply, the report said.

The ratio surged 12% Wednesday as the pro-crypto Republican candidate Donald Trump won the U.S. presidential election.

Investors say a Trump administration will favor DeFi applications and tokenomics more, given the family’s backing of World Liberty Finance – riling up DeFi-focused trades.

Analysts expect a 0.25% rate cut this week, which has historically benefited assets like BTC by diluting the dollar’s value and pushing investors towards alternative investments.

Crypto exchange Coinbase’s shares closed the day 31% higher, leading gains among digital asset-related stocks.