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- 🥜 Trump Pumping Bitcoin To 100k?
🥜 Trump Pumping Bitcoin To 100k?
PLUS: Tether being investigated
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What we’ve cooked up for you today…
🏦 The Tether FUD is here?
🚀 Will Trump pump Bitcoin to $100k?
🍌 ETFs going banana’s
💰 And more…
Prices as at 2:55am ET
THE TETHER FUD IS HERE? 🏦
BREAKING: Tether slams WSJ report alleging US probe as ‘irresponsible reporting’
So The Wall Street Journal just released a very interesting article…
According to The WSJ, Tether is being investigated by the US government for potentially breaking anti-money laundering rules.
The investigation is looking into whether USDT is being used by third parties for illicit actives such as terrorism, drug trafficking and hacking.
Tether CEO Paolo Ardoino immediately shut the claims down on X:
A few hours later, Ardoino expanded on his post:
“At Tether, we deal regularly and directly with law enforcement officials to help prevent rogue nations, terrorists and criminals from misusing USDt. We would know if we are being investigated as the article falsely claimed. Based on that, we can confirm that the allegations in the article are unequivocally false.”
Tether also posted an official statement to their website:
“These stories are based on pure rank speculation despite Tether confirming that it has no knowledge of any such investigations into the company.”
Continuing on, Tether explains:
“The article also carelessly glosses over Tether’s well-documented and extensive dealings with law enforcement to crack down on bad actors seeking to misuse tether and other cryptocurrencies.”
As you’d expect, Bitcoin and the wider crypto market did not take well to this news breaking…
Bitcoin immediately fell from ~$67,500 down to $65,700 as the news began to circulate.
However it has since recovered, sitting around $66,900 at the time of writing.
This also isn’t the first time that Tether has been targeted…
US lawmakers previously scrutinised Tether, calling on the Department of Justice to investigate the firm over possible involvement in illicit finance.
Right now, all we’ve got is an allegation from The Wall Street Journal…
We’ll keep you updated on any major developments.
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WILL TRUMP PUMP BITCOIN TO $100K? 🚀
There’s no two ways about it:
A Donald Trump victory is way more bullish for Bitcoin than a Kamala Harris win.
But could a Trump win actually push Bitcoin to $100,000?
When you look at the data, it’s a real possibility.
The first person to suggest a Trump win would push Bitcoin to $100k was mathematician Fred Krueger:
At first, this seemed like hyperbole.
But then the Head of Growth at Monad actually looked into the data:
“Was curious so as a good intern created a chart: Trump Polymarket Odds and Bitcoin Price.”
Now, they don’t track each other perfectly.
But there is something there.
It suggests that if Trump wins the election - i.e., if the odds of his victory reach 100% - Bitcoin could rise to ~$100,000.
At Crypto Nutshell, we think that might be a bit too much wishful thinking.
But we do think a Trump victory would be enough to push Bitcoin to new all-time highs by the end of the year.
Get ready - November 5th we could see a ‘Donald Pump’. 😂 🚀
ETFs GOING BANANA’S 🍌
The Bitcoin ETFs have been on a rampage for the last two weeks…
Last week they recorded total inflows of $2.13 billion.
And now this week just saw total inflows of $996.1 million.
Thats a combined Inflow of ~$3.13 billion for just the last two weeks. That’s absolutely insane.
Here’s Friday’s breakdown:
BlackRock IBIT: $291.2 million 🥇
Fidelity FBTC: $56.9 million 🥈
ARK Invest ARKB: $33.4 million 🥉
[PIC]
BlackRock was also the primary reason that the ETFs even saw net inflows this week…
Here’s the weekly breakdown:
BlackRock IBIT: $1.14 billion 🥇
Fidelity FBTC: $71.6 million 🥈
Grayscale BTC: $10.6 million 🥉
BlackRock is so far ahead of the competition…
And checkout the post below from Nate Geraci.
It puts what BlackRock is doing into a little more context…
Since launching, the Bitcoin ETFs have experienced net inflows of ~$22 billion.
And that’s without Vanguard offering them…
And many of the major wirehouse platforms still don’t offer them to clients.
They’re only just getting started…
CRACKING CRYPTO 🥜
StanChart reaffirms Bitcoin on track to reclaim ATH by election day, 6-figures if Trump wins. StanChart believes that a Trump presidency could propel Bitcoin to $80,000 in the days following the elections and $125,000 by year-end.
Polymarket Is a Success for Polygon Blockchain – Everywhere But the Bottom Line. One of the major breakout successes this year for the team behind layer-2 blockchain Polygon is Polymarket.
AI memecoins endorsed by the Truth Terminal chatbot see double-digit price drop. Major AI memecoins have seen double-digit price drops over the past 24 hours.
WHAT WE’RE READING 📚
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CAN YOU CRACK THIS NUT? ✍️
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MEME CORNER 😂
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Trivia Answer: C) 10 minutes 🥳
Bitcoin takes on average 10 minutes to produce/confirm a block
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DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.
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