In this episode of Coin Street headlines, we dive into the latest headlines affecting the cryptocurrency market. Join us as we discuss the growing calls for a boycott of JP Morgan from Bitcoin supporters, sparked by MSCI’s potential exclusion of crypto-treasury companies from stock indexes. We examine the implications of this move and its potential impact on the broader cryptocurrency market. Macro economist Lyn Alden shares her insights on the current market cycle, suggesting that it may last longer than anticipated, driven by macroeconomic factors rather than the traditional four-year cycle. We also touch on Khurram Dara’s potential bid to challenge New York Attorney General Letitia James, who has been accused of engaging in “lawfare” against the crypto industry. Lastly, we examine how the recent crypto crash has affected the Trump family’s net worth, including the decline in value of a Trump-branded meme coin and Eric Trump’s Bitcoin mining venture. Jane King with the latest from the NYSE.
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Thanks, Remy.
Here's a look at your Coin Street headline Strategy and Bitcoin supporters are calling for a boycott of JPMorgan.
The anger from the Bitcoin community followed news that MSCI, formerly Morgan Stanley Capital International, an index company that sets criteria for index inclusion, is likely to exclude crypto Treasury companies from its indexes in January.
The exclusion of crypto treasury companies from stock indexes could trigger an automatic sell-off of their.
Shares from funds and asset managers that are mandated to buy specific types of financial instruments and could negatively impact crypto markets.
Well, a significant crash for Bitcoin and the broader crypto market doesn't look likely at this stage.
That's according to macroeconomist Lynn Alden.
Alden said during a recent episode of the What Bitcoin did podcast that we haven't hit euphoric levels in this cycle.
Therefore, there's less of a reason to expect a kind of major capitulation.
The cycle could go on for a Longer than people expect because it's not driven by the having.
It's driven by broader macro and interest in the asset itself, according to Alden, shutting down the idea that the four-year cycle is still intact.
Well, Khuram Dara had hinted that he might try to unseat New York Attorney General Letitia James, claiming she had engaged in lawfare against the crypto industry.
The former coin-based lawyer had been hinting since August at a potential run for the office.
Whoever assumes the role of New York's attorney general.
Would have significant discretion over whether to file charges against crypto companies, and a crypto crash is impacting the Trump family net worth.
The value of a Trump branded meme coin has fallen by about a quarter since August.
Eric Trump's stake in a Bitcoin mining venture has shed roughly half of its value.
The Trump family's fortune has fallen to about $6.7 billion from $7.7 billion in early September, according to the Bloomberg Billionaires Index, and that is the latest Coin Street headlines.