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Transcript

Fr 11/9 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:06
  SPEAKER_00: Happy Friday, everybody.
• 0:07
  SPEAKER_00: Let's get into what's been happening over the past 24 hours because Bitcoin dropped
• 0:11
  SPEAKER_00: towards $77,000 as macro pressures continue to mount.
• 0:17
  SPEAKER_00: US PPI rose to 5.4% above expectations.
• 0:21
  SPEAKER_00: The
• 0:27
  SPEAKER_00: bond market has completely flipped from pricing two cuts at the start of
• 0:31
  SPEAKER_00: the year to now pricing two hikes,
• 0:33
  SPEAKER_00: which really shows how dramatically sentiment happens.
• 0:36
  SPEAKER_00: The ECB hiked rates by 25 basis points to 2.5%,
• 0:42
  SPEAKER_00: its second increase this year,
• 0:44
  SPEAKER_00: citing inflation remaining well above target as oil prices climb.
• 0:49
  SPEAKER_00: Brent crude surged about 5% to $108,
• 0:53
  SPEAKER_00: the highest level since May,
• 0:55
  SPEAKER_00: and Saudi Arabia oil production fell to its lowest level in 36 years,
• 1:00
  SPEAKER_00: so the supply picture remains tight.
• 1:03
  SPEAKER_00: The 30-year US mortgage rate sits at 6.76%,
• 1:08
  SPEAKER_00: the highest since June 2025,
• 1:11
  SPEAKER_00: making home ownership increasingly difficult for many Americans.
• 1:15
  SPEAKER_00: President Trump said he does not need congressional approval
• 1:18
  SPEAKER_00: to issue $5,000 dividend checks to adult Americans,
• 1:22
  SPEAKER_00: though the idea would cost roughly $1.2 trillion and add to the deficit
• 1:27
  SPEAKER_00: unless offset by cuts or new revenue.
• 1:31
  SPEAKER_00: Treasury Secretary Besant said the US will sanction a large bank next week,
• 1:35
  SPEAKER_00: so that's definitely something to watch.
• 1:37
  SPEAKER_00: On the crypto regulatory front,
• 1:40
  SPEAKER_00: Senate Republicans released an updated draft of the Crypto Clarity Act ahead of
• 1:44
  SPEAKER_00: a possible floor Next week,
• 1:47
  SPEAKER_00: Coinbase CEO Brian Armstrong said the bill is right on the finish line.
• 1:51
  SPEAKER_00: Senator Cynthia Lummis said Democrats helped write it and now need to vote for it.
• 1:56
  SPEAKER_00: And a White House official said progress has been made on outstanding concerns.
• 2:00
  SPEAKER_00: So there's cautious optimism building.
• 2:03
  SPEAKER_00: Nasdaq invested in Kraken parent Paywood at a $21 billion valuation,
• 2:09
  SPEAKER_00: showing continued institutional interest in crypto infrastructure.
• 2:13
  SPEAKER_00: In earnings news,
• 2:15
  SPEAKER_00: Oracle reported It entered a strong quarter with revenue of $19.3 to $19.4 billion,
• 2:18
  SPEAKER_00: up 30% year over year, with cloud revenue up 62% and OCY up 121%.
• 2:20
  SPEAKER_00: Adobe also beat and raised its full year guide with AI first ARR up 150% year over year.
• 2:39
  SPEAKER_00: Sam Bankman-Fried asked the Supreme Court to overturn his fraud conviction so
• 2:44
  SPEAKER_00: that saga continues.
• 2:46
  SPEAKER_00: OpenAI launched ChatGPT for financial services to help research markets and build models.
• 2:52
  SPEAKER_00: US lawmakers And Anthropik
• 2:59
  SPEAKER_00: said China and Russia attempted to use Claude
• 3:03
  SPEAKER_00: for cyber attacks,
• 3:04
  SPEAKER_00: weapons design,
• 3:05
  SPEAKER_00: propaganda and mass surveillance,
• 3:07
  SPEAKER_00: which highlights the geo- On the altcoin side,
• 3:12
  SPEAKER_00: Bitwise is shutting down its Dogecoin ETF less than a year after launch.
• 3:18
  SPEAKER_00: Metamask expanded Tron connectivity,
• 3:21
  SPEAKER_00: giving users easier access to Exitron's DeFi ecosystem and a large pool
• 3:26
  SPEAKER_00: of circulating USDT.
• 3:28
  SPEAKER_00: Robinhood chain DEX liquidity surpassed $100 million,
• 3:33
  SPEAKER_00: EX added support for Robinhood crypto chain tickers,
• 3:36
  SPEAKER_00: and Kermit rallied after becoming the first project on the chain to integrate Grok.
• 3:42
  SPEAKER_00: Nu, one of the world's largest digital financial platforms with more
• 3:46
  SPEAKER_00: than 140 million customers,
• 3:49
  SPEAKER_00: is integrating Circle stablecoins into a new multi-currency digital account.
• 3:54
  SPEAKER_00: Hong Kong-listed Boya Interactive Charles Schwab's fund family disclosed $4.8
• 3:58
  SPEAKER_00: million in XRP ETF shares used as collateral
• 4:14
  SPEAKER_00: The Pump.fun app was reported missing from the US App Store and
• 4:18
  SPEAKER_00: the Base app was rebranded back to Coinbase Wallet.
• 4:22
  SPEAKER_00: That's your crypto and finance wrap for today.
• 4:24
  SPEAKER_00: Make sure to follow along and I'll catch you next week with another update.
• 4:28
  SPEAKER_01: Panic Drop is where we find the truth.
• 4:32
  SPEAKER_01: Listen to the Panic Drop.