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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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Sports

Arch plays ‘his game’ as Texas rebounds with win

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Arch plays 'his game' as Texas rebounds with win

AUSTIN, Texas — A week after Arch Manning struggled in a loss at Ohio State, Texas coach Steve Sarkisian saw his quarterback bounce back in a 38-7 win over San Jose State and said this game showcased more of Manning’s style.

Manning matched a career high with four touchdown passes, going 19-of-30 for 295 yards, and added a 20-yard touchdown scramble, tiptoeing down the left sideline at the end of the third quarter.

“I thought today was a by-product of the week of work. He played aggressive throughout the week. He studied the game plan. He knew exactly what we were trying to do, and I thought today he played more of his style,” Sarkisian said. “He extended plays, used his legs, scrambles for a touchdown. That’s the style of player that he is.”

On several plays, Manning rolled out and found receivers. A few of his passes were dropped, with Sarkisian saying Texas “didn’t catch the ball great for him.” But Sarkisian was pleased that Manning made plays when things broke down.

“Him playing his game and not trying to play at somebody else’s style of game, I think it is important for him,” Sarkisian said.

Manning also threw a bad interception while under pressure, heaving the ball into double coverage from the Spartans’ 14-yard line. San Jose State defenders had a shot at picking off a couple of his other throws but failed to haul them in.

“A lot to work on,” Manning said. “I thought it was sloppy for my part. Can’t turn the ball over in the red area. I’ve got to play better. I think all around, it was a little sloppy.”

Manning started slowly, going 3-of-6 for 11 yards on his first two drives. But then, on a third-and-3 with 2:52 left in the first quarter, Manning found Parker Livingstone along the left sideline, and he turned it upfield for an 83-yard touchdown.

The touchdown throw was part of a stretch where Manning went 5-for-5 for 142 yards and four touchdowns, including TDs on three consecutive passing attempts — a 3-yarder to Livingstone, then 36- and 16-yarders to tight end Jack Endries.

“Anytime you can get points on the board after a slow start, it feels good,” Manning said. “Then, [we] finally got some rhythm. Defense started stepping up, too, so we’ve just got to start quicker next week.”

The Longhorns, who committed 12 penalties for 115 yards, have four new offensive line starters, and many new players at wide receiver and tight end. And even Texas stars such as edge rusher Colin Simmons (two penalties for offsides, one for roughing the passer) didn’t perform their best.

“I think as our team in general goes, this is not the best version of Texas football this season that we’re going to see,” Sarkisian said. “My foot’s got to get in their butt here on Monday morning. That’s unacceptable. And there’s a standard in which we want to play the game, and 12 penalties does not meet that standard.”

Manning said all week that he had to play better for Texas to win. He was encouraged by his performance Saturday, finding a way to make plays, but doesn’t believe he’s at his best.

Sarkisian said Manning is gifted with his dual-threat abilities, but his team is learning on the fly how to block for him while he’s scrambling or that he could throw while on the move.

“There’s things that we’re learning as we go as a team, but those are some of the growing pains that we have to work through,” Sarkisian said.

Those growing pains still resulted in an easy win at home Saturday. For Sarkisian, he said he can see the trust growing among his players, including Manning.

“The guys rally around him, you can feel it today on the sidelines,” Sarkisian said. “They really like playing with Arch, and that’s important.”

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Environment

MINI x Deus Ex Machina Skeg electric concept lightens the mood

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MINI x Deus Ex Machina Skeg electric concept lightens the mood

MINI has partnered with lifestyle brand, Deus Ex Machina, to develop this. It’s called the Skeg, and it’s a high-performance, racing-inspired electric concept car that’s sure to lighten the mood – by shedding fully 15% of its mass in the quest for speed.

One of a pair of exclusive, one-off concepts based on MINI’s John Cooper Works cars. The Deus Ex Machina Skeg celebrates MINI’s storied racing history with what the company calls, “a clean, minimal, and quiet rebellion,” that draws on materials, technologies, and philosophies from the world of surfing.

The electric MINI JCW Skeg is stripped to its essentials, with much of the steel and aluminum bits replaced with lightweight fiberglass to maximize acceleration while driving the minimalist aesthetic home. The end result weighs 15% less than the standard car – but makes the same stout 190 kW (258 hp) as the production car.

Surf’s up


MINI Skeg concept interior; via BMW.

The interior is stripped back to the barest essentials, reflecting BMW’s vision of a surf culture that prioritizes function over form. MINI claims the end result resembles a mobile surf shop, with fiberglass trays for wetsuits, specially shaped bins, neoprene seats, and other touches that “bring the surf culture into the interior.”

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For their part, the BMW and MINI styling team seems pretty proud of its minimalistic electric endeavor. “In this extraordinary collaboration … every single detail has been crafted with artisanal precision and expertise,” says Holger Hampf, Head of MINI Design. “This has resulted in unique characters that are clearly perceived as belonging together through their distinctive design language and use of graphics.”

The concept retains the production version’s 54.2 kWh li-ion battery pack, up to 250 of WLTP range with the production aero kit, sprints from 0-100 km (62 mph) in just 5.9 seconds. With 15% less mass, though, that should jump to more than 255 miles, with 0-60 times dropping below 5.5 seconds.

I dig it – but I’d skip the surf bits and just appreciate the raw composite, minimalist interior look for what it is. Take a look at the image gallery, below, then let us know what you think of MINI’s Skeg concept in the comments.


SOURCE | IMAGES: BMW MINI.


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Science

Asteroids vs Comets vs Meteors vs Meteorites: What Are They and How Are They Different From Each Other?

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Asteroids, comets, meteoroids, meteors, and meteorites may seem similar, but each plays a unique role in the Solar System. Asteroids are rocky remnants, comets are icy wanderers, meteors are shooting stars, and meteorites are fragments that survive the plunge to Earth.

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