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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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Huawei Maextro set to challenge Maybach, Rolls-Royce in China with 852 hp

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Huawei Maextro set to challenge Maybach, Rolls-Royce in China with 852 hp

Packing up to 852 hp and a cutting-edge technology stack developed by Huawei, Chinese luxury brand Maextro just revealed its latest entry into the Mercedes-Maybach EQS and Rolls-Royce Spectre segment of ultra-luxe EVs. Meet the all-new Maextro S800.

Despite a somewhat steady stream of new Chinese EVs that defy expectations and threaten to re-set the global order of performance cars, semi trucks, and just about everything in between, brands like Maybach, Rolls-Royce, and even Bentley have seemed relatively “safe,” in the sense that their value is based on something a bit less objective than lap times or kW/mile.

The new Huawei Maextro S800, first shown as a series of renderings late last year, seems to have found some of Henry Rolls’ secret sauce – and they’ve sprinkled it liberally all over the S800.

Huawei sparkles – literally

The shimmering, sparkly, fiber-optic headliner was pioneered by Rolls-Royce over a decade ago, pushing back against the more open and accessible glass-roofs that were becoming popular in the higher end market. Huawei goes a step further, adding similar, Swarovski-like shimmer to not just the headliner – but the door handles, the headlights, projections dancing around the car as you approach it in the street.

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It looks and feels special, in other words. And these cars are all about making their owners feel special. Different.

When Henry Rolls began work on his first US factory in Springfield, Massachusetts way back in 1919, there was supposedly a mantra that management repeated to the workers. It went, “every time you touch the car, you add cost. Make sure you add value.”

I’m not here to argue that Huawei is living up to the same maxim with the Maextro, but I am here to argue that this car’s bespoke, purpose-built platform doesn’t share any parts with a lesser offering from the Mercedes or BMW or Volkswagen lineup in the way that a Maybach, Rolls-Royce, or Bentley does. That may not mean much to you and me, but the people shopping six- and seven-figure cars, it might.

Those well-heeled buyers will get a choice of EREV or “pure” battery electric powertrains good for between 480 and 852 all-electric horsepower. 32 ADAS sensors including both radar and lidar compliment a suite of cameras analyze the road ahead and feed data to Huawei’s ADS road perception system, which is constantly adjusting torque distribution, suspension compression and rebound, and front and rear steering to deliver a tech-driven chauffeur experience that Huawei insists is second to none.

That digital chauffeur is also pretty handy when the weather goes sideways, too. Huawei says the Maextro’s sensor array can help it to increase the detection distance in rain, fog, and dust by 60% compared to the benchmark, while delay was reduced by 40%.

In the event a collision is unavoidable, the car can adjust its stance, seating position, raise the windows, and unlock the central control lock to enable outside help to open the doors. Following the collision, the Maextro S800 switches the redundant power supply and calls for help, as well.

Finally, reports indicate that the Maextro S800 supports the 800V high-voltage system in some trims, suitable for 6C charging, which means it can be energized with up to 390 kW of charging power, taking just 10.5 minutes to charge the 66 kWh battery in the EREV version (523 hp) from 10% to 80%.

The Maextro S800 will enter the Chinese in May this year with a price range of 1 – 1.5 million yuan (about $135–205,000 US).

SOURCE | IMAGES: Maextro, via CarNewsChina.

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Politics

Montana’s Bitcoin reserve bill rejected by House lawmakers

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Montana’s Bitcoin reserve bill rejected by House lawmakers

Montana’s House of Representatives voted 41-59 against a bill that could have seen the US state establish a Bitcoin reserve.

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Pope Francis has ‘initial, mild’ kidney problem and still in critical condition, says Vatican

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Pope Francis has 'initial, mild' kidney problem and still in critical condition, says Vatican

The Pope remains in a critical condition and is now showing an “initial, mild” kidney problem – but is “vigilant” and took part in Mass in hospital with those caring for him.

The Vatican statement said Francis hadn’t had any more “respiratory crises” since Saturday evening.

However, a problem with his kidneys has emerged, with blood tests showing “an initial, mild, renal insufficiency, which is currently under control”, according to the update.

The 88-year-old Pope is still having “high-flow oxygen therapy” into his nose, while his hemoglobin value has increased after being given blood transfusions on Saturday.

The Pope has been at Rome’s Gemelli hospital since 14 February and is being treated for double pneumonia and chronic bronchitis.

Sunday evening’s statement said he was “vigilant and well oriented”, but due to the complexity of his case the prognosis is “reserved”.

“During the morning, in the apartment set up on the 10th floor, he participated in the Holy Mass, together with those who are taking care of him during these days of hospitalization,” the update added.

On Sunday morning, the Vatican said the Pope had a “tranquil” night and confirmed he would not lead prayers for the second week running.

Instead, Francis, who has been Pope since 2013, prepared words to be read on his behalf at the recitation of the Angelus.

‘I ask you to pray for me’

The Pope’s message said: “I am confidently continuing my hospitalisation at the Gemelli Hospital, carrying on with the necessary treatment; and rest is also part of the therapy!

“I sincerely thank the doctors and health workers of this hospital for the attention they are showing me and the dedication with which they carry out their service among the sick.

“In recent days I have received many messages of affection, and I have been particularly struck by the letters and drawings from children.

“Thank you for this closeness, and for the prayers of comfort I have received from all over the world! I entrust you all to the intercession of Mary, and I ask you to pray for me.”

The message is understood to have been written in the last few days.

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‘The Pope is like family to us’

On Saturday night, the Vatican said the Pope was in a critical condition after a “prolonged respiratory crisis” that required a high flow of oxygen.

It said he’d had blood transfusions after tests revealed thrombocytopenia, which is associated with anaemia.

Millions around the world have been concerned about his increasingly frail health – and his condition has given rise to speculation over a possible resignation.

Faith is never lost but it feels optimism is fading

By Lisa Holland, Sky correspondent in Vatican City

It’s hard to imagine a Sunday in the Vatican City without the Pope. Every week – unless he’s travelling – he is a constant, appearing at the same Vatican windows to deliver his message.

Instead, his written words were distributed by Vatican officials. In his message, the Pope thanked his doctors and people around the world for their good wishes.

But it seems the upbeat message was written before the dramatic downturn in the Pope’s health, which has left him in a critical condition. The business and the events of the Church are continuing in his absence.

Faith is never lost but it feels like optimism is fading and we are living through the last days of Pope Francis.

In St Peter’s Square the sun shone – and a gentle light fell on the ancient stone of the basilica.
The beauty and pageantry of columns of deacons and visitors filing in for a special mass as part of the Catholic Church’s jubilee year sat awkwardly with the prognosis of the Pope’s ailing health.

The visitors and deacons who’d come from around the world to take part, and hoped to see the Pope, were left disappointed. Though they said they felt his presence. “It is what it is,” said one.

They know the Pope is an 88-year-old man who has spent the last few years assisted by a wheelchair and walking stick. Throughout his life he has been dogged by lung issues.

It leaves an almost philosophical mood ahead of what the coming days may bring.

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Doctors said on Friday that he was “not out of danger” and was expected to remain in hospital for at least another week.

They also warned that while he did not have sepsis, there was always a risk the infection could spread in his body.

Sepsis is a complication of an infection that can lead to organ failure and death.

Pope Francis has a history of respiratory illness, having lost part of one of his lungs to pleurisy as a young man. He also had an acute case of pneumonia in 2023.

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