DNB Acquires Carnegie Holding AB for $1.14 Billion 
Tech Mahindra Surpasses Q2 Revenue Expectations Despite Weakness in Telecom Sector 
Cuba Faces National Blackout: Infrastructure Crisis and Future Solutions 
Seven Dead, 20 Missing After Dock Collapse During Cultural Festival on Sapelo Island 
Western Digital Ordered to Pay $315.7 Million for Patent Infringement 
What to Expect from the Upcoming Bank of Japan Policy Meeting 
Trump Escalates Attacks on Kamala Harris as Both Candidates Court Early Voters 
Emerging Economies Face Liquidity Crisis Post-Debt Reworks 
Asian Markets Steady Amid Earnings Season and Rate Cuts 
President Prabowo Subianto Swears in Cabinet: A Continuity of Jokowi's Policies 
Starboard Value Acquires Stake in Kenvue, Pushes for Stock Price Boost 
Asian Markets Mixed Amid Chinese Stock Pressure; Bitcoin Surges to Three-Month High 
UK Foreign Minister David Lammy Strengthens Security Ties with South Korea and Indonesia 
Sanofi Enters Exclusive Talks to Sell 50% Stake in Opella to CD&R 
China Cuts Loan Prime Rate to Boost Economic Growth Amid Stimulus Measures 
China's Steel Exports Surge Amid Overcapacity and Global Demand for 2025 
Bitcoin Hits New Heights Amid Trump Election Speculation
On Monday, Bitcoin's price surged, briefly reaching a three-month high of $69,007.1, as speculation grows around Donald Trump's potential victory in the upcoming 2024 elections. The world’s largest cryptocurrency is now within $5,000 of its all-time high, and surpassing the $70,000 mark could signal a bullish trend.
Trump’s Pro-Crypto Stance Fuels Market Optimism
Recent polls and prediction markets indicate an increasing likelihood of a Trump win over Democratic nominee Kamala Harris. The crypto prediction platform Polymarket shows a 60.7% probability of Trump's victory compared to 39.1% for Harris. Trump's campaign is noted for its pro-cryptocurrency stance, promising to foster Bitcoin's growth in America and even accepting crypto donations.
The potential for a Trump presidency has traders optimistic about more favorable crypto regulations in the U.S., a significant issue in light of recent scrutiny from the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ). While Harris has expressed intentions for a regulatory framework for crypto, specifics remain unclear.
Broader Crypto Market Gains
As Bitcoin rallies, other cryptocurrencies are also benefitting. Ether, the second-largest cryptocurrency, rose 3.8% to $2,740.14, nearing a two-month high. Notably, SOL and ADA saw increases exceeding 6%, while XRP and MATIC gained nearly 4%. Among meme tokens, DOGE rose by 4.6%.
Recent data indicates that institutional investors are returning to the cryptocurrency market, further buoying prices as the election approaches. With just over two weeks until the vote, the market is bracing for a tightly contested presidential election.
