Goldman Sachs' Bold Bet: Bank Boosts Its Bitcoin ETF Stake to $710 Million.
The substantial increase in Goldman Sachs’ bitcoin ETF holdings demonstrates the growing interest of institutional investors in bitcoin.

[Source](https://news.bitcoin.com/goldman-sachs-bold-bet-bank-boosts-its-bitcoin-etf-stake-to-710-million/)
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Solidion Technology Allocates 60% of Its Cash to Buying Bitcoin.
Solidion Technology follows other institutional investors such as Microstrategy by purchasing bitcoin with a plan for future acquisitions.

[Source](https://news.bitcoin.com/solidion-technology-allocates-60-of-its-cash-to-buying-bitcoin/)
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MicroStrategy’s Bitcoin portfolio surpasses $20B, ROI now over 100%
The Bitcoin-stacking firm bought Bitcoin 42 times at a dollar cost average of $39,292, according to BitcoinTreasuries data.

[Source](https://cointelegraph.com/news/microstrategy-bitcoin-portfolio-surpass-20-billion)
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President-elect Donald Trump announced on Thursday that he would nominate former independent presidential candidate Robert F. Kennedy Jr. to run the Department of Health and Human Services (HHS).

https://www.wired.com/story/trump-anti-vaccine-activist-rfk-public-health-hhs/
Kennedy’s position, however, is still contingent on congressional approval. Previous HHS leaders have had long careers in the public health field or within the department itself before serving as the head. A Republican-controlled Senate might defer to Trump, or it might point to Kennedy’s aggressive promotion of conspiracy theories, long career as a loyal Democrat, and muddled positions on abortion as reasons to block his accession.
With Donald Trump’s reelection and a Republican majority in the Senate, crypto firms are ready to advocate for a “fresh perspective” on federal agencies.

https://cointelegraph.com/news/crypto-firms-push-sec-changes-crypto-out-courts
President-elect Trump will soon have the authority to remove the SEC chair, but the process would require cause, and any permanent replacement would need Senate approval. Gensler’s term is scheduled to end in 2026.
Arca and BlockTower Capital agreed to merge into a unified cryptocurrency investment platform, according to a Nov. 13 announcement.

https://cointelegraph.com/news/arca-blocktower-to-merge-into-unified-crypto-platform
Merger activity is heating up in Web3 as companies scramble to expand operations and add additional capabilities.
On Nov. 13, Coinbase bought Utopia Labs in a bid to build out the cryptocurrency exchange’s onchain payments infrastructure.
Arca and BlockTower Capital agreed to merge into a unified cryptocurrency investment platform, according to a Nov. 13 announcement.

https://cointelegraph.com/news/arca-blocktower-to-merge-into-unified-crypto-platform
Merger activity is heating up in Web3 as companies scramble to expand operations and add additional capabilities.
On Nov. 13, Coinbase bought Utopia Labs in a bid to build out the cryptocurrency exchange’s onchain payments infrastructure.
Digital assets platform Fireblocks has signed a Memorandum of Understanding (MoU) with NongHyup Bank, a large South Korean bank specializing in commercial credit and banking services for the agricultural sector. They hope to launch a prototype for tax refunds.

https://cointelegraph.com/news/fireblocks-nonghyup-bank-vat-tokenization
Fireblocks and NongHyup Bank will use the Fireblocks Tokenization Engine in a pilot project to refund value-added tax (VAT) and goods and services tax (GST) on purchases at retail outlets. Fireblocks co-founder and CEO Michael Shaulov told Cointelegraph that they are looking to increase transparency and security.
Coinbase has bought Utopia Labs in a bid to build out the cryptocurrency exchange’s on-chain payments infrastructure, Coinbase said on Nov. 13.

https://cointelegraph.com/news/coinbase-buys-on-chain-payments-platform-utopia
Coinbase has bought Utopia Labs in a bid to build out the cryptocurrency exchange’s on-chain payments infrastructure, Coinbase said on Nov. 13.
Utopia Labs’ team will join Base, Coinbase’s layer 2 scaling network, “to help accelerate our onchain payments roadmap within Coinbase Wallet,” Coinbase said in a blog post.
“There’s a natural flywheel here: Base is supporting developers who build onchain apps, those apps attract users onchain, Wallet onboards those users, and in turn more users incent
Bitcoin strategic reserve unlikely under Trump — Mike Novogratz
The Galaxy Digital CEO argued that he does not expect the nearly $36 trillion national debt to be paid without devaluing the currency.

[Source](https://cointelegraph.com/news/bitcoin-strategic-reserve-low-probability-under-trump-mike-novogratz)
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Bitcoin’s record highs push big banks’ profits to billions — Report
As Bitcoin prices soared following the election, big banks are reportedly accruing $1.4 billion from futures contracts.

[Source](https://cointelegraph.com/news/bitcoin-record-highs-push-big-banks-profits-billions)
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MicroStrategy shares up 20% in the week following Trump’s victory, rate cuts
MSTR has surged over 486% in the past 12 months, with the company planning to expand its Bitcoin holdings through a $42 billion purchase by 2027.

[Source](https://cointelegraph.com/news/micro-strategy-shares-up-20-week-following-trump-victory-rate-cuts)
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