Crypto “Common Sense”

Crypto “Common Sense” 

Donald Trump has nominated Paul Atkins, a cryptocurrency advocate, to chair the US Securities and Exchange Commission, signaling a potentially more favorable regulatory stance on digital assets. “Paul is a proven leader for common sense regulations,” Trump said in a post on Truth Social, as reported by the Financial Times. Following the announcement, Bitcoin surged past $100,000, marking a historic milestone for the cryptocurrency.

Chinese E-commerce: An Uncertain Future 

The EU is planning measures to curb a surge in imports from Asian online retailers like Shein and PDD Holdings’ [PDD] Temu, citing concerns over customs evasion and unsafe goods. Proposed actions include taxing e-commerce platforms’ revenues and introducing handling fees per shipment to reduce the competitiveness of low-value imports, which are often exempt from duties. Meanwhile, ByteDance’s TikTok tripled its US Black Friday sales to over $100m, according to Bloomberg, even as it faces a potential US ban in January.

AI Can Now Predict the Weather 

Alphabet’s [GOOGL] Google DeepMind has launched GenCast, an artificial intelligence-powered (AI) weather prediction model that outperforms traditional forecasting systems, and is better at predicting extreme events. By leveraging a probabilistic approach, GenCast can estimate wind power output and predict tropical cyclone trajectories. The tool was trained on four decades of data from the European Center for Medium-Range Weather Forecasting, according to the Financial Times.

Reality Check: MI2 Co-Founder Julian Brigden on the US Economy

Could the Fed be going about the growth cycle wrong? Julian Brigden, Co-Founder and President of Macro Intelligence 2 Partners, a global independent macroeconomic research company, thinks so. This week, Brigden joins OPTO Sessions to survey the US macroeconomic landscape as a second Trump presidency beds in, including the outlook for bonds, equities and employment, plus why he sees gold as an investment opportunity. 

GM Takes Massive Hit in China

General Motors [GM] is taking a more than $5bn charge against its Chinese operations, reflecting the challenges Western automakers face as they lose market share to cheaper domestic rivals. The charge includes a $2.9bn write-down of GM’s interests in its China joint ventures and $2.7bn for restructuring, including plant closures and job cuts. GM also plans to reduce its Chinese model lineup. Shares dipped 0.6% to $53.36 following the announcement. 

OpenAI Expands into Drones

“Our partnership with Anduril will help ensure OpenAI technology protects US military personnel, and will help the national security community understand and responsibly use this technology to keep our citizens safe and free,” Sam Altman, CEO of OpenAI, said in a statement announcing a new partnership with Anduril Industries, which will integrate the former’s AI into its own anti-drone systems. This is OpenAI’s first major foray into defense, Bloomberg reported. 

Archer Aims for the Sky

Archer Aviation [ACHR] is a Santa Clara-based aerospace company that is hoping to revolutionize mobility with its electric vertical take-off and landing (eVTOL) aircraft and related services. ACHR stock got a boost in mid-November when Needham initiated coverage with a ‘buy’ rating and a price target of $11, implying an upside of 58.05% from the most recent close. Today, OPTO unpacks Archer’s recent financial performance and discusses the risks associated with being pre-revenue.