Headline
▌Trump and Musk observe the sixth test flight of SpaceX's Starship in Texas
SpaceX's Starship completed its sixth test flight, with Trump and Musk observing the event in Texas.
SpaceX stated that the Starship successfully ignited one of its Raptor engines in space for the first time. The sixth flight test of the Starship lasted about 30 minutes, and all systems appear to be functioning normally.
▌BTC briefly surges to $93,905, setting a new all-time high
The market data shows that BTC briefly surged to $93,905.51, setting a new all-time high, and is currently trading at $93,392.1, up 2.8% in the past 24 hours. The market is highly volatile, please manage your risks accordingly.
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $92,421.78, with a daily change of +2.2%;
ETH's latest trading price is $3,113.18, with a daily change of -3.0%;
BNB's latest trading price is $616.58, with a daily change of -0.4%;
SOL's latest trading price is $238.12, with a daily change of -0.6%;
Doge's latest trading price is $0.3916, with a daily change of +5.7%;
XPR's latest trading price is $1.10, with a daily change of -1.4%.
Policy
▌U.S. court postpones ruling on Trump's "hush money" case
On November 19, local time, the scheduled ruling on former President Trump's "hush money" case on November 26 was canceled. The court reportedly updated the status of the ruling in the court record but did not provide an explanation. Meanwhile, Manhattan District Attorney Alvin Bragg faces a deadline to provide the court with recommendations on how the case should proceed.
▌Trump team considers crypto lawyer Teresa Goody Guillen as SEC chair candidate
According to sources, the Trump team is considering Baker Hostetler partner and co-head of the firm's blockchain team, Teresa Goody Guillen, as one of the candidates for the next SEC chair. Goody Guillen is an experienced securities lawyer with experience serving the SEC and representing blockchain companies and traditional firms against the agency.
Sources say Trump is looking for a non-bureaucratic crypto-friendly person to overhaul the SEC. Insiders in Washington say the selection process for the SEC chair is swift and orderly, unlike Trump's first term, and the nominee is expected to be announced before Thanksgiving.
▌Trump nominates crypto supporter Howard Lutnick as Commerce Secretary
According to the Wall Street Journal, Trump said on the 19th local time that he will nominate veteran Wall Street financier Howard Lutnick as the next U.S. Commerce Secretary, elevating one of his most outspoken supporters in the financial industry to a key position. Lutnick will also directly oversee the U.S. Trade Representative's Office. Lutnick is the CEO of financial services firm Cantor Fitzgerald and has become a close ally of Trump in recent months, and was the top contender for Treasury Secretary. If confirmed by the Senate, Lutnick will be tasked with expanding U.S. economic growth and promoting domestic industries. He may also help maintain and expand the government's relationship with the business community. The Commerce Department and other agencies will play a key role in implementing the president-elect's proposals to impose tariffs on U.S. imports. Lutnick is a crypto supporter, and his firm Cantor Fitzgerald has been managing Tether's U.S. Treasury portfolio since 2021.
▌Brazil's central bank chooses Chainlink standard for its Drex project
Chainlink announced on social media that the Central Bank of Brazil (@BancoCentralBR) has chosen the Chainlink standard for its Drex project to achieve secure settlement across borders, blockchains, and currencies.
▌Trump appoints Mehmet Oz as Centers for Medicare & Medicaid Services director
Trump has appointed Mehmet Oz as the director of the Centers for Medicare & Medicaid Services.
Blockchain Applications
▌Injective launches iAgent SDK to allow users to create on-chain AI agents
Layer 1 blockchain protocol Injective has announced the launch of the iAgent software development kit (SDK), which allows users to create on-chain AI agents. The iAgent is reportedly deployed with OpenAI's ChatGPT and other large language models, enabling users to command AI agents to perform tasks on the Injective blockchain.
Cryptocurrencies
▌VanEck executive: VanEck supports strategic Bitcoin reserves
VanEck's head of digital asset research, matthew sigel, posted on X platform that "VanEck supports strategic Bitcoin reserves. No need to cite 'sources' - we'll announce it ourselves."
Previously, Fox reporter Eleanor Terrett cited sources saying BlackRock had not established strategic Bitcoin reserves.
▌Analysis: Pro-crypto picks to lead U.S. Commerce Department, BTC ETF options listing drives new all-time high
With the listing of BTC ETF options, BTC price has reached a new all-time high of $93,905 per coin. The market expects that the launch of BTC ETF options will likely increase financial institutions' exposure to BTC. Options contracts allow investors to buy or sell an asset at a specific price and time. Genesis former market insights head Noelle Acheson said that while the Chicago Mercantile Exchange already offers BTC options, BTC ETF spot options are a big deal for both retail and institutional investors. A deeper onshore derivatives market will increase the complexity of the market, boosting investor confidence in BTC and attracting new investment groups, enabling more diversified investment and trading strategies. Additionally, the earlier report that crypto-friendly Howard Lutnick will be nominated by Trump as Commerce Secretary also contributed to the rise in BTC.
▌Video sharing platform Rumble CEO considers adding Bitcoin to company's balance sheet
Rumble CEO Chris Pavlovski posted on X, asking "Should Rumble add Bitcoin to its balance sheet?" MicroStrategy (MSTR) co-founder Michael Saylor responded, "Yes, I'd be happy to discuss why and how with you." Pavlovski said, "I'll send you a DM."
As a major competitor to video giant YouTube, Rumble reported Q3 revenue of $25.1 million, up 39% year-over-year. Its balance sheet shows $130.8 million in cash and cash equivalents. The company's stock is up 26% year-to-date, with a current market cap of around $1.6 billion.
▌Bloomberg analyst: Traders bet Bitcoin will double next month
Bloomberg senior ETF analyst Eric Balchunas posted on X that "So far, the options volume on BlackRock's IBIT has been in the hundreds of millions (lots of it on day one). The call option open interest rankings show it's mostly bullish, especially the Dec 20 C100, which is basically a bet that BTC will double in the next month."
Key Economic Dynamics
▌Poll: 35% of Americans want Trump to focus on inflation if he returns to office
According to a survey released by Reuters/Ipsos on Tuesday, Americans believe that inflation is the top priority that President-elect Trump should address in his first 100 days in office. In the three-day poll, about 35% of respondents said that inflation is the area Trump should focus on, compared to 30% who said immigration, and 27% who said employment and the overall economy. Another 23% said Trump should focus on unifying the country. Smaller portions of respondents said he should focus on taxes, crime, or foreign conflicts. Only 1% of respondents said Trump should focus on international trade and tariffs. The survey polled 1,014 adults nationwide and had a margin of error of about 3 percentage points.
▌Fed's Bullard: Inflation Fight Not Over
Fed's Bullard said the fight against inflation is not over. Upcoming tariff and immigration policies, if they impact employment and inflation, will be relevant to the Fed.
▌Fed's Bullard: Uncertain How Much Further Rates Can Fall, Large Fiscal Deficits May Mean Higher Rates
"The decision to cut rates is an acknowledgment of increasing confidence that the inflation rate will reach the Fed's 2% target - confidence that is partly based on signs in recent months that both the labor market and product markets are moving toward balance," Kansas City Fed President Bullard said in prepared remarks to the Omaha Chamber of Commerce. He said that while the progress toward the 2% target means it is now appropriate to cut rates, "it remains to be seen how much further rates will fall or what the ultimate level will be." On the current issue of federal government spending, Bullard said that while large fiscal deficits will not cause inflation as the Fed pursues its 2% target, they may mean "interest rates will remain higher for longer," which is why the Fed must maintain its independence in setting monetary policy.
Jinse Finance
Dogwifhat was launched in November 2023, and is a Solana-based memecoin with the image of a Shiba Inu wearing a pink knit hat. WIF does not position itself as a symbol of progress or a vision of the future, but maintains simplicity and embraces its meme identity, without any grand ambitions. Even the code "WIF" is a misspelling of "with", which is a typical meme form, highlighting the playfulness of the token.
Disclaimer: Jinse Finance, as a Bit and Block information platform, the articles published are for reference only and do not constitute actual investment advice. Please everyone establish the correct investment concept and improve risk awareness.
