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Bitcoin rose above $100,000 for the first time on Thursday as the election of Republican Donald Trump as president of the United States spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies.

Bitcoin has more than doubled in value this year and is up about 45% in the four weeks since Trump’s sweeping election victory, which also saw a slew of pro-crypto lawmakers being elected to Congress.

It last traded at $100,027 as of 0240 GMT, up 2.2% on the previous session, after earlier rising as high as $100,277.

“We’re witnessing a paradigm shift. After four years of political purgatory, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream,” said Mike Novogratz, founder and CEO of US crypto firm Galaxy Digital.

“This momentum is fueled by institutional adoption, advancements in tokenization and payments, and a clearer regulatory path.”

More than 16 years after its creation, bitcoin appears on the cusp of mainstream acceptance, despite naysayers and a history of controversies.

“Bitcoin crossing $100,000 is more than just a milestone; it’s a testament to shifting tides in finance, technology, and geopolitics,” said Justin D’Anethan, a Hong Kong-based independent crypto analyst.

“The figure not that long ago dismissed as fantasy, stands as a reality.”

Trump embraced digital assets during his campaign, promising to make the United States the “crypto capital of the planet” and to accumulate a national stockpile of bitcoin.

Crypto investors see an end to increased scrutiny under US Securities and Exchange Commission Chair Gary Gensler, who said last week he wouldstep downin January when Trump takes office.

On Wednesday, Trump said he would nominate Paul Atkins to run the Securities and Exchange Commission. Atkins, a former SEC commissioner, has been involved in crypto policy as co-chair of the Token Alliance, which works to “develop best practices for digital asset issuances and trading platforms,” and the Chamber of Digital Commerce.

A slew of crypto companies including Ripple, Kraken and Circle arejostlingfor a seat on Trump’s promised crypto advisory council, seeking a say in his planned overhaul of US policy, according to several digital asset industry executives.

Trump’s businesses may also have a stake in the sector.

He unveiled a new crypto business, World Liberty Financial, in September.

Although details about the business have been scarce, investors have taken his personal interest in the sector as a bullish signal.

Trump’s social media company is inadvanced talksto buy crypto trading firm Bakkt, the Financial Times reported last week, citing two people with knowledge of the talks.

Trump Media and Technology Group, which operates Truth Social, is close to an all-stock acquisition of Bakkt, according to the FT report.

Billionaire Elon Musk, a major Trump ally, is also a proponent of cryptocurrencies.

Bitcoin’s rebound from a slide below $16,000 in late 2022 has been rapid, boosted by the approval of US-listed bitcoin exchange-traded funds in January this year.

The Securities and Exchange Commission had long attempted to block ETFs from investing in bitcoin, citing investor protection concerns, but the products have allowed more investors, including institutional investors, to gain exposure to bitcoin.

More than $4 billion has streamed into US-listed bitcoin exchange-traded funds since the election.

“We were trading basically sideways for about seven months, then immediately after November 5, US investors resumed buying hand-over-fist,” said Joe McCann, CEO and founder of Asymmetric, a Miami digital assets hedge fund.

There was a strong debut for options on BlackRock’s ETF,in November with call options – bets on the price going up – substantially more popular than puts. McCann calculated the put to call ratio at about 22 to one.

Crypto-related stocks have soared along with the bitcoin price, with shares in bitcoin miner MARA Holdings,up around 65% in November.

Yet the rise is not without critics.

Two years ago, the industry was wracked by scandal with the collapse of the FTX crypto exchange and the jailing of its founder Sam Bankman-Fried.

The cryptocurrency industry also has been criticized for its massive energy usage, while crypto crime remains a concern, too.

Market participants are keeping a close eye on what happens now that bitcoin has broken above $100,000, with investors and speculators possibly looking to pocket some of their recent gains.

“But once we flush out those sell orders, this could go higher still, and very rapidly,” said Steven McClurg, founder of Canary Capital, a digital assets investment firm.

He said he expects bitcoin’s price to hit $120,000 by Christmas.

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US-UK trade deal ‘done’, says Trump as he meets Starmer at G7

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US-UK trade deal 'done', says Trump as he meets Starmer at G7

The UK-US trade deal has been signed and is “done”, US President Donald Trump has said as he met Sir Keir Starmer at the G7 summit.

The US president told reporters: “We signed it, and it’s done. It’s a fair deal for both. It’ll produce a lot of jobs, a lot of income.”

As Mr Trump and his British counterpart exited a mountain lodge in the Canadian Rockies where the summit is being held, the US president held up a physical copy of the trade agreement to show reporters.

Several leaves of paper fell from the binding, and Mr Starmer quickly bent down to pick them up, saying: “A very important document.”

President Donald Trump drops papers as he meets with Britain's Prime Minister Keir Starmer in Kananaskis, Canada. Pic: AP
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President Donald Trump drops papers as he meets with Britain’s Prime Minister Keir Starmer in Kananaskis, Canada. Pic: AP

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Sir Keir Starmer hastily collects the signed executive order documents from the ground and hands them back to the US president.

Sir Keir said the document “implements” the deal to cut tariffs on cars and aerospace, adding: “So this is a very good day for both of our countries – a real sign of strength.”

Mr Trump added that the UK was “very well protected” against any future tariffs, saying: “You know why? Because I like them”.

However, he did not say whether levies on British steel exports to the US would be set to 0%, saying “we’re gonna let you have that information in a little while”.

Sir Keir Starmer picks up paper from the UK-US trade deal after Donald Trump dropped it at the G7 summit. Pic: Reuters
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Sir Keir Starmer picks up paper from the UK-US trade deal after Donald Trump dropped it at the G7 summit. Pic: Reuters

What exactly does trade deal being ‘done’ mean?

The government says the US “has committed” to removing tariffs (taxes on imported goods) on UK aerospace goods, such as engines and aircraft parts, which currently stand at 10%.

That is “expected to come into force by the end of the month”.

Tariffs on car imports will drop from 27.5% to 10%, the government says, which “saves car manufacturers hundreds of millions a year, and protects tens of thousands of jobs”.

The White House says there will be a quota of 100,000 cars eligible for import at that level each year.

But on steel, the story is a little more complicated.

The UK is the only country exempted from the global 50% tariff rate on steel – which means the UK rate remains at the original level of 25%.

That tariff was expected to be lifted entirely, but the government now says it will “continue to go further and make progress towards 0% tariffs on core steel products as agreed”.

The White House says the US will “promptly construct a quota at most-favoured-nation rates for steel and aluminium articles”.

Other key parts of the deal include import and export quotas for beef – and the government is keen to emphasise that “any US imports will need to meet UK food safety standards”.

There is no change to tariffs on pharmaceuticals for the moment, and the government says “work will continue to protect industry from any further tariffs imposed”.

The White House says they “committed to negotiate significantly preferential treatment outcomes”.

Mr Trump also praised Sir Keir as a “great” prime minister, adding: “We’ve been talking about this deal for six years, and he’s done what they haven’t been able to do.”

He added: “We’re very longtime partners and allies and friends and we’ve become friends in a short period of time.

“He’s slightly more liberal than me to put it mildly… but we get along.”

Sir Keir added that “we make it work”.

The US president appeared to mistakenly refer to a “trade agreement with the European Union” at one point as he stood alongside the British prime minister.

Mr Trump announced his “Liberation Day” tariffs on countries in April. At the time, he announced 10% “reciprocal” rates on all UK exports – as well as separately announced 25% levies on cars and steel.

Read more:
G7 summit ‘all about the Donald’ – analysis
Scrambled G7 agenda as leaders race to de-escalate Israel-Iran conflict

In a joint televised phone call in May, Sir Keir and Mr Trump announced the UK and US had agreed on a trade deal – but added the details were being finalised.

Ahead of the G7 summit, the prime minister said he would meet Mr Trump for “one-on-one” talks, and added the agreement “really matters for the vital sectors that are safeguarded under our deal, and we’ve got to implement that”.

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US-UK trade deal ‘done’, says Trump as he meets Starmer at G7

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US-UK trade deal 'done', says Trump as he meets Starmer at G7

The UK-US trade deal has been signed and is “done”, US President Donald Trump has said as he met Sir Keir Starmer at the G7 summit.

The US president told reporters: “We signed it, and it’s done. It’s a fair deal for both. It’ll produce a lot of jobs, a lot of income.”

As Mr Trump and his British counterpart exited a mountain lodge in the Canadian Rockies where the summit is being held, the US president held up a physical copy of the trade agreement to show reporters.

Several leaves of paper fell from the binding, and Mr Starmer quickly bent down to pick them up, saying: “A very important document.”

President Donald Trump drops papers as he meets with Britain's Prime Minister Keir Starmer in Kananaskis, Canada. Pic: AP
Image:
President Donald Trump drops papers as he meets with Britain’s Prime Minister Keir Starmer in Kananaskis, Canada. Pic: AP

Please use Chrome browser for a more accessible video player

Sir Keir Starmer hastily collects the signed executive order documents from the ground and hands them back to the US president.

Sir Keir said the document “implements” the deal to cut tariffs on cars and aerospace, adding: “So this is a very good day for both of our countries – a real sign of strength.”

Mr Trump added that the UK was “very well protected” against any future tariffs, saying: “You know why? Because I like them”.

However, he did not say whether levies on British steel exports to the US would be set to 0%, saying “we’re gonna let you have that information in a little while”.

Sir Keir Starmer picks up paper from the UK-US trade deal after Donald Trump dropped it at the G7 summit. Pic: Reuters
Image:
Sir Keir Starmer picks up paper from the UK-US trade deal after Donald Trump dropped it at the G7 summit. Pic: Reuters

What exactly does trade deal being ‘done’ mean?

The government says the US “has committed” to removing tariffs (taxes on imported goods) on UK aerospace goods, such as engines and aircraft parts, which currently stand at 10%.

That is “expected to come into force by the end of the month”.

Tariffs on car imports will drop from 27.5% to 10%, the government says, which “saves car manufacturers hundreds of millions a year, and protects tens of thousands of jobs”.

The White House says there will be a quota of 100,000 cars eligible for import at that level each year.

But on steel, the story is a little more complicated.

The UK is the only country exempted from the global 50% tariff rate on steel – which means the UK rate remains at the original level of 25%.

That tariff was expected to be lifted entirely, but the government now says it will “continue to go further and make progress towards 0% tariffs on core steel products as agreed”.

The White House says the US will “promptly construct a quota at most-favoured-nation rates for steel and aluminium articles”.

Other key parts of the deal include import and export quotas for beef – and the government is keen to emphasise that “any US imports will need to meet UK food safety standards”.

There is no change to tariffs on pharmaceuticals for the moment, and the government says “work will continue to protect industry from any further tariffs imposed”.

The White House says they “committed to negotiate significantly preferential treatment outcomes”.

Mr Trump also praised Sir Keir as a “great” prime minister, adding: “We’ve been talking about this deal for six years, and he’s done what they haven’t been able to do.”

He added: “We’re very longtime partners and allies and friends and we’ve become friends in a short period of time.

“He’s slightly more liberal than me to put it mildly… but we get along.”

Sir Keir added that “we make it work”.

The US president appeared to mistakenly refer to a “trade agreement with the European Union” at one point as he stood alongside the British prime minister.

Mr Trump announced his “Liberation Day” tariffs on countries in April. At the time, he announced 10% “reciprocal” rates on all UK exports – as well as separately announced 25% levies on cars and steel.

Read more:
G7 summit ‘all about the Donald’ – analysis
Scrambled G7 agenda as leaders race to de-escalate Israel-Iran conflict

In a joint televised phone call in May, Sir Keir and Mr Trump announced the UK and US had agreed on a trade deal – but added the details were being finalised.

Ahead of the G7 summit, the prime minister said he would meet Mr Trump for “one-on-one” talks, and added the agreement “really matters for the vital sectors that are safeguarded under our deal, and we’ve got to implement that”.

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Abortion debate reignited as Sky poll reveals public’s view on decriminalisation ahead of Commons vote

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Abortion debate reignited as Sky poll reveals public's view on decriminalisation ahead of Commons vote

A small group have gathered in the main square in the centre of Birmingham, and it’s a real mix of people. There are older figures from the community, young students, as well as groups of friends and some families.

On closer inspection, you can make out candles and rosary beads, signalling it’s some kind of vigil. As hymns start to be sung, it’s revealed to be a gathering to protest against abortion.

Nearly 90% of this country is pro-choice, but a small, vocal minority is becoming more organised in the UK.

Energised by the Trump administration, young and old activists in the UK anti-abortion movement have become more motivated to get their message across.

And all this is happening just as abortion laws in the UK could be about to go through the most significant change in over 50 years.

Pro-life and pro-choice campaigners protesting in London
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Pro-choice campaigners (left) at London’s High Court in July 2023 and a pro-life demonstration (right) outside parliament in May 2024. Pic: Reuters/PA

Nearly three years on from the ruling reversing Roe v Wade – a landmark case that once made abortion legal in the US – the age-old abortion debate has become even more political in the UK.

A breakthrough moment came when Vice President JD Vance criticised the UK laws on abortion buffer zones – areas outside clinics where police are allowed to use their discretion to stop anyone harassing women entering abortion clinics.

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Explained: What are the UK’s abortion laws?

One of the cases cited by the vice president was that of Isabel Vaughan-Spruce.

She’s a lifelong anti-abortion activist who has been handing out leaflets outside clinics for 20 years. Since buffer zones came into force, she now visits to silently pray once a week. In 2022, she was arrested outside an abortion clinic for silent prayer and taken to court, although the charges were later dropped.

She also received £13,000 in a civil claim against West Midlands Police, which did not admit liability.

“They actually asked me what I was doing, and I said, well, I’m just physically standing here. I might be praying in my head, but nothing out loud. And on that basis, they made an arrest. I was heavily searched, I was taken to the police station, locked in a police cell for hours before being questioned under caution. And then, eventually, I went to court.

“I believe that abortion centres are like the modern-day Calvary. This is where the innocent are being put to death. I might not be physically interacting with anybody or stopping anyone or talking to anyone, just to be there in prayer is really, really important from a spiritual perspective.”

Isabel Vaughan-Spruce from the anti-abortion campaign group, March for Life UK
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Isabel Vaughan-Spruce, an anti-abortion activist, was arrested by police near an abortion clinic, although charges were later dropped


For people like Ailish McEntee, any type of protest is a distraction, which she says is not wanted by the women who come to the clinic she works at in London. She’s hoping that this week MPs will go further on abortion laws and pass an amendment through the Commons to decriminalise abortion for anyone seeking an abortion up to 24 weeks.

“The law itself works very well for the majority of people, but for those individuals in those kind of really high-risk domestic abuse situations… they maybe can’t make it to a clinic, they might seek abortion care from those kind of unregulated providers.

“So this amendment would take away that decriminalisation of women themselves. And it’s a really strange part of the law that we have.

“I think particularly in recent years, with Roe v Wade overturning and Donald Trump winning the election again, I think it’s really pushed forward the anti-choice rhetoric that has always been there, but it’s absolutely ramping up.”

Ailish McEntee, a safeguarding midwife for abortion provider MSI Reproductive Choices UK
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Ailish McEntee works at an abortion provider and wants to see a change in the law


According to polling by Sky News and YouGov, 55% of people are in favour of the law changing to stop women being criminalised for their own abortion before 24 weeks.

Surprisingly though, 22% said they believe women should be investigated or imprisoned for abortion after 24 weeks.

Stella Creasy is one of the MPs laying down an amendment to try to decriminalise abortion.

“There’s no other health care provision that we see with a criminal foundation in this way and it has a very real practical consequence.

“We’ve seen some incredibly vulnerable women and girls who didn’t even know that they were pregnant who have late-term miscarriages finding themselves with police officers rather than counsellors at their hospital beds finding themselves under suspicion for months, if not years, and I just don’t think that’s where the British public are at.”

Stella Creasy MP, Labour
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Labour MP, Stella Creasy, hopes her amendment will see abortion decriminalised

But Rachel is concerned by this amendment. She runs sessions at the UK arm of Rachel’s Vineyard – a faith-based organisation originally founded in the United States, dedicated to, in their words, “healing the trauma of abortion”. They frame abortion not as a medical procedure, but as a harm to mothers and fathers.

“With all sudden deaths, whether you are 80 years of age or you’re 26 weeks born, you know, out of the womb, and you’ve died, you’ve sadly died, we need to be able to investigate that. For us to have compassion, we need to have justice.”

Rachel Mackenzie, facilitator at Rachel's Vineyard UK, a faith-based organisation supporting women who have had an abortion
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Rachel Mackenzie runs sessions at a faith-based organisation and is worried about any reforms to current abortion legislation

In Northern Ireland, where the decriminalisation battle was won in 2019, I met Emma, who fought on the campaign at Alliance for Choice.

She says police searches were a daily routine for her, and since 2019, she has been able to continue helping women navigate abortion care without the threat of being investigated.

Emma Campbell, co-convenor of Alliance for Choice, an abortion rights organisation in Northern Ireland
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Emma Campbell helps women navigate abortion care in Northern Ireland, where decriminalisation was secured in 2019

Read more:
Farage: Abortion ‘ludicrous’ up to 24 weeks
Pro-choice campaigners back legal change
Woman not guilty of illegal abortion
Social media’s illicit abortion trade

Orfhlaith Campbell should have been one of the lucky ones. She was able to seek a medical abortion at 23 weeks in Northern Ireland, two years after it had been decriminalised, but she says she had to fight to get the care she needed.

She was on the cusp of the medical time limit when she suffered a premature rupture of membranes, went into labour and was told she would likely develop sepsis.

Orfhlaith Campbell, who had an abortion at 23 weeks, but she says she had to fight to get the care she needed in Northern Ireland
Image:
Orfhlaith Campbell, who had an abortion at 23 weeks in Northern Ireland, says she had to fight to get the care she needed

“I would have died and my daughter was dying, I could feel her dying, and it was a compassionate choice. When we got the post-mortem after, the infection had went into her wee body too, and she had nuclear debris in her lungs. If she had survived at all, it would have been a very, very painful existence.

“So yes, I had to break through the stigma that had been ingrained in me in Northern Ireland. I had to break through legal fights and the barriers that were being put in place. But I was strong enough to know that that was compassionate and that healthcare was needed both for me and her.”

The UK is majority pro-choice, and our polling shows the majority are for decriminalising abortion.

But activists who are against abortion are energised by the changing landscape of the debate in the US.

As parliament sets to vote on two amendments on abortion laws this week and potentially pulls in one direction, activists will likely only get louder and become more effective at getting their message across.

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