Bitcoin Breaks Record as Trump Takes The Wheel… 🚀
Welcome to another edition of your favorite weekly news round-up...From Coinigy
Talk about a historic week, for the white house and of course, our Crypto Wallets. Bitcoin just slashed through 85K like Samurai Jack would slash the rain with a sword… It’s raining BTC!
Donald Trump is behind the wheel and we already love where we’re going…. “Make Crypto Great Again” isn’t just a meme anymore, we’re living it and we’re loving it 😋
The crypto drama continues elsewhere and this time Binance is in for some of it. They’re getting their share of the meal. FTX cooked, but we’ll see how this one tastes in the coming weeks.
Here are the Highlights:
- Bitcoin Hits Record High Above $81,700 After Trump’s Victory
- FTX Sues Binance for $1.76 Billion, Accuses CZ of 'Reckless Disregard' for Its Customers
- Binance founder CZ made $12B overnight when Donald Trump won
- Fed Cuts Rates as Bitcoin Continues Roaring
Bitcoin Hits Record High Above $81,700 After Trump’s Victory
Bitcoin price hit a new all-time high of $81,727 on November 11, amid the ongoing bull run, fueled by the victory of Donald Trump in the U.S. presidential elections. Trump’s win, backed by an impressive bunch of pro-crypto lawmakers, has sparked excitement in the digital asset market, pushing Bitcoin up by over 6% in a single day. The market’s optimism stems from Trump’s previous promises to support digital assets, including creating a strategic Bitcoin stockpile and appointing crypto-friendly regulators.
FTX Sues Binance for $1.76 Billion, Accuses CZ of 'Reckless Disregard' for Its Customers
Two years after its bankruptcy filing, defunct crypto exchange FTX has filed a lawsuit in the Delaware Bankruptcy Court against Binance Holdings Ltd. and its former CEO Changpeng Zhao, seeking to recover at least $1.76 billion in “fraudulently transferred” funds. In the lawsuit filed on Sunday, the FTX bankruptcy estate alleges that “at least $1.76 billion worth of cryptocurrency was transferred to Binance in July 2021,” were fraudulently transferred to Binance by FTX founder Sam Bankman-Fried, as part of a deal where FTX repurchased Binance’s equity stake.
Binance founder CZ made $12B overnight when Donald Trump won
When Donald Trump secured the 2025 US presidency on Tuesday night, some of the world’s richest men were celebrating their own, personal windfalls. No one made more money overnight than billionaire Elon Musk, for example, whose net worth popped from $264 to $290 billion within 24 hours of Trump’s victory. Shares of his automaker Tesla have soared 20% since Trump beat Kamala Harris.
Fed Cuts Rates as Bitcoin Continues Roaring
The Federal Reserve on Thursday slashed interest rates in an expected decision that could give "risk-on" assets like Bitcoin a further boost—and the top digital asset is already surging in recent days, setting multiple all-time high price points following Donald Trump's election win. America's central bank approved a quarter-point interest-rate cut—a move backed by all 12 Fed voters. In September, the Fed cut by 50 basis points in its first such reduction since it aggressively raised rates in 2022.
Other Highlights Worth Mentioning
Detroit to Accept Crypto Payments for Taxes, Other Fees - BeInCrypto
Trump administration considering Robinhood legal chief for SEC chair role - CryptoSlate
FTX Founder Gary Wang Hopes to Avoid Prison—Unlike SBF and Caroline Ellison - Decrypt
Coinbase launches Stand With Crypto advocacy group in Australia - Cointelegraph