FT News Briefing Crypto’s Trump card
8 snips
Nov 15, 2024 The Federal Trade Commission is set to investigate Microsoft for anti-competitive practices in cloud computing. Excitement surges in the crypto market, particularly Bitcoin, boosted by political sentiments after the recent election. Disney sees a huge earnings jump thanks to blockbusters like ‘Deadpool & Wolverine.’ Meanwhile, Berkshire Hathaway’s cash reserves raise eyebrows as investors ponder Warren Buffett's recent Apple share sales. Lastly, a satirical site acquires a controversial media brand, blending comedy with real-world drama.
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Microsoft Under Scrutiny
- The FTC is investigating Microsoft's cloud computing business for anti-competitive practices.
- This scrutiny suggests a continued focus on Big Tech regulation in the final days of Biden's presidency.
Crypto's Post-Election Surge
- Bitcoin surged roughly 30% following Trump's election, exceeding $90,000 for the first time.
- This rally is attributed to Trump's perceived crypto-friendly stance and the grand vision some of his associates have for crypto's future role.
Trump's Crypto Campaign
- During his campaign, Trump visited a Bitcoin bar, launched a crypto token, and attended a crypto conference.
- These actions, coupled with his associates' vision for a national Bitcoin reserve, fueled the crypto rally.