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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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Marchand’s OT score cuts Panthers’ deficit to 2-1

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Marchand's OT score cuts Panthers' deficit to 2-1

SUNRISE, Fla. — Brad Marchand scored on a deflected shot at 15:27 of overtime and the Florida Panthers beat the Toronto Maple Leafs 5-4 on Friday night to cut their deficit in the Eastern Conference semifinal series to 2-1.

Aleksander Barkov, Sam Reinhart, Carter Verhaeghe and Jonah Gadjovich scored for Florida, which got 27 saves from Sergei Bobrovsky. Evan Rodrigues had two assists for the Panthers. They 13-2 in their last 15 playoff overtime games.

John Tavares scored twice, and Matthew Knies and Morgan Rielly also scored for the Maple Leafs. Joseph Woll stopped 32 shots.

Game 4 will be in Sunrise on Sunday night.

Florida erased deficits of 2-0 and 3-1, and that’s been almost impossible to do against Toronto this season.

By the numbers, it was all looking good for the Maple Leafs.

  • They were 30-3-0 when leading after the first period, including playoffs, the second-best record in the league.

  • They were 38-8-2, the league’s third-best record when scoring first.

  • They had blown only 11 leads all season, none in the playoffs.

  • They were 44-3-1 in games where they led by two goals or more.

Combine all that with Toronto having won all 11 of its previous best-of-seven series when taking a 2-0 lead at home, Florida being 0-5 in series where it dropped both Games 1 and 2, and leaguewide, teams facing 0-2 deficits come back to win those series only about 14% of the time.

But Marchand — a longtime Toronto playoff nemesis from his days in Boston — got the biggest goal of Florida’s season, rendering all those numbers moot for now.

The Leafs got two goals that deflected in off of Panthers defensemen: Tavares’ second goal nicked the glove of Gustav Forsling on its way past Bobrovsky for a 3-1 lead, and Rielly’s goal redirected off Seth Jones’ leg to tie it with 9:04 left in the third.

Knies scored 23 seconds into the game, the second time Toronto had a 1-0 lead in the first minute of this series. Tavares made it 2-0 at 5:57 and just like that, the Panthers were in trouble.

A diving Barkov threw the puck at the night and saw it carom in off a Toronto stick to get Florida on the board — only for Tavares to score again early in the second for a 3-1 Leafs lead.

Florida needed a break. It came.

Reinhart was credited with a goal after Woll thought he covered up the puck following a scrum in front of the net. But after review, it was determined the puck had crossed the line. Florida had life, the building was loud again and about a minute later, Verhaeghe tied it at 3-3.

Gadjovich made it 4-3 late in the second, before Rielly tied it midway through the third.

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Vegas’ Roy dodges suspension for G2 cross-check

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Vegas' Roy dodges suspension for G2 cross-check

NEW YORK — Vegas Golden Knights forward Nicolas Roy was fined but not suspended Friday for cross-checking the Edmonton OilersTrent Frederic in the face in overtime of Game 2 of the teams’ second-round playoff series.

The NHL Department of Player Safety announced the fine of $7,813, the maximum allowed under the collective bargaining agreement, after a disciplinary hearing with him.

Roy attempted to play the puck while it was airborne but made contact with Frederic’s head instead, resulting in a laceration for the Oilers forward.

Frederic briefly exited the game before making a quick return to the ice. Edmonton, however, failed to capitalize on the ensuing five-minute power play but won not long after on a goal by Leon Draisaitl from Connor McDavid.

Vegas trails the best-of-seven series 2-0 with Game 3 on Saturday night at Edmonton.

Information from The Associated Press and Field Level Media was used in this report.

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Red Sox’s Henry, disgruntled Devers have sit-down

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Red Sox's Henry, disgruntled Devers have sit-down

KANSAS CITY, Mo. — Boston Red Sox owner John Henry met with disgruntled star Rafael Devers on Friday afternoon, making a rare trip to meet the team on the road after Devers expressed disillusionment with the organization’s suggestion he switch positions for the second time in two months.

Joined by Red Sox chief baseball officer Craig Breslow and president Sam Kennedy, Henry flew to Kansas City on Friday to address the firestorm after Devers objected to moving from designated hitter to first base after Triston Casas‘ season-ending knee injury.

Devers, who signed a 10-year, $313.5 million contract with Boston in January 2023, told reporters Thursday that he would not move to first base and criticized Breslow, saying: “I don’t understand some of the decisions that the GM makes.” During spring training, Devers said he did not want to move off third base — the position he had played in his first eight major league seasons — after the free agent signing of reigning American League Gold Glove winner Alex Bregman. Eventually, Devers agreed to become Boston’s DH, where he has played in each of the team’s 40 games this season.

Devers met with Henry and manager Alex Cora before Friday’s game and had what Breslow deemed “an honest conversation about what we value as an organization and what we believe is important to the Boston Red Sox.” The Red Sox have been using Romy Gonzalez and Abraham Toro — both utility men — to plug the hole at first base amid a 20-19 start.

“He expressed his feelings. John did the same thing,” Cora said. “I think the most important thing here is we’re trying to accomplish something big here. And obviously there’s changes on the roster, situations that happened, and you have to adjust.”

Breslow had introduced the possibility of moving to first base to the 28-year-old Devers, a three-time All-Star who, after a poor start, entered Friday’s game against the Kansas City Royals hitting .255/.379/.455 with 6 home runs, 25 RBIs and an AL-leading 29 walks.

Devers did not take kindly to the idea, saying Thursday: “They told me that I was going to be playing this position, DH, and now they’re going back on that. So, I just don’t think they stayed true to their word.”

The pointedness of Devers’ comments prompted Henry, who declined to comment, to fly halfway across the country and attempt to put to bed issues that have festered since spring training.

The signing of Bregman, who has been the Red Sox’s best player, accelerated moving Devers off third base, which evaluators long thought was an inevitability, even with his improvements at the position. First base had been viewed as his likeliest landing spot, but the presence of Casas pushed Devers to DH, a move he rebuffed at first before eventually complying.

Devers’ disappointment during the spring, sources said, stemmed from feeling blindsided by the lack of communication regarding the initial position switch.

“It’s my job to always put the priorities of the organization first,” Breslow said, “but I should also be evaluating every interaction I have with players, and I’ll continue to do that.”

Whether Devers eventually accepts moving to first — which could free up a lineup spot for Roman Anthony, the top prospect in baseball, or incumbent DH Masataka Yoshida after he recovers from offseason shoulder surgery — is a “secondary” issue at the moment, Breslow said.

“That decision was never going to be made on a couch in an office in Kansas City,” he said, “and that conversation is ongoing. The most important thing here is we believe that we’ve got a really good team that’s capable of winning a bunch of games and playing meaningful games down the stretch. That’s what we need to remain focused on.”

Added Cora: “The plan is to keep having conversations.”

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