Weekly Roundup 09/26/24 (Chokepoint 2.0 updates, Gensler’s House hearing, Ellison sentenced) (EP.564)

Bullish:

• $CRYPTO - A Republican Senate majority is viewed as positive for cryptocurrency regulation, potentially creating a more favorable environment for the crypto market.

  • “The Republican senate would be a big one. The house looks like it might flip blue, though, if you look at the prediction markets, and then you'd get, Stephen Lynch as the head of the, digital asset subcommittee on House Financial Services, and I don't think anyone wants to see that again.”

    Matt·22:01
• $IBIT - The SEC's approval of options trading for BlackRock's Bitcoin ETF (IBIT) is seen as a positive development for the ETF and potentially the broader crypto market.

  • “The SEC has approved the listing and trading of options in BlackRock's, Bitcoin ETF, Ibit. So I don't know how the SEC would have denied this. I'm sure they wanted to, but if you just look at the law, which I guess has never stopped the SEC from denying things in the past, but you're gonna get options on Bitcoin ETFs.”

    Matt·27:00

Bearish:

• $SUPPLY - Potential port strikes on the East Coast and Gulf Coast could disrupt supply chains, with union workers demanding significant pay increases.

  • “Ever since COVID, my philosophy has just been if you're gonna panic, panic early. And there's a potential port strike on the East Coast as well as the Gulf Coast, and it's, the union, workers are demanding, like, a 70% pay increase.”

    Matt·33:01