*FED REMOVES REFERENCE TO GAINING CONFIDENCE ON INFLATION

*POWELL: IN NEAR TERM ELECTION WILL HAVE NO EFFECT ON POLICY

Powell: The statement changes weren't designed to serve as forward guidance.

Removing language about "greater confidence" on inflation is characterized as a drafting step; it got rid of something that had been used to explain that the test for cutting, in Sept, had been met

POWELL: AS WE APPROACH NEUTRAL, MAY BE APPROPRIATE TO SLOW CUTS

POWELL: ONE OR TWO BAD DATA MONTHS ON INFLATION WON'T CHANGE THE PROCESS

POWELL: SAYS HE WOULD NOT RESIGN IF ASKED TO

*POWELL SAYS HE WON'T STEP DOWN AS FED CHAIR IF ASKED BY TRUMP

*POWELL: DEMOTION OF FED VICE CHAIRS BY PRESIDENT NOT PERMITTED UNDER THE LAW

POWELL: no, NO — not permitted under the law, NOT PERMITTED UNDER THE LAW

S&P 500 CROSSES 6,000 MARK FOR THE FIRST TIME

OpenAI Shifts Strategy as Rate of ‘GPT’ AI Improvements Slows — TI

BITCOIN HITS $80K — NEW ATH

ETHEREUM RESEARCHER, JUSTIN DRAKE TO UNVEIL HIS AMBITIOUS ETHEREUM CONSENSUS LAYER REDESIGN PROPOSAL TOMORROW AT 5PM ON THE DEVCON MAIN STAGE: 𝕏

EVENT: LINK

FTX Sues Binance, Former CEO Zhao Seeking $1.8 Billion Clawback: BBG

*FTX also accused CZ of posting a series of “false, misleading, and fraudulent tweets” shortly before FTX’s collapse, the content of which was “maliciously calculated to destroy his rival

PRE-MARKET:

*COINBASE +15%
*MICROSTRATEGY +10%

The Week Ahead | @infinityhedge

Macro:
*Nvidia AI Summit on 12
*Earnings: SoftBank, Spotify on 12
*Earnings: Cisco, Tencent on 13
*U.S. CPI on 13
*Fed Chair Powell Speaks on 14
*Japan GDP (QoQ) (Q3) on 14
*Earnings: Alibaba on 15

Crypto:
*HYPE Users must review and accept the Genesis Event Terms to participate in Airdrop before Nov. 11, 2024 23:59 UTC
*Marathon Digital Holdings Earnings on 12
*DevCon 7 Event, Bangkok [11-15] [Uniday, Kraken, ETH, etc]
*Upbit Conference Seoul, Korea on 14
*Form 13F Filing Deadline on 14

**If you're planning to hit up the Emergence Conference in Prague on December 5-6, 2024, you can get 20% discount using the code 'INFINITY20'. Thanks to Tim Copeland [TheBlock] for this sweet discount for our community!

Token Unlocks:
$APT: $90M: 2.18% on 11
$STRK: $30M: 3% on 15
$CKB: $20M: 3% on 16
$ARB: $60M: 2.4% on 16

What Bloomberg Economics Says:
“We expect both CPI and PPI to come in hot, pushing long-end rates even higher — and further restraining the economy over the next couple months. We expect control-group retail sales to slow and the unemployment rate to continue to climb, reaching 4.5% by year end.”

Earnings/Charts/Articles ⬎

MicroStrategy has acquired 27,200 Bitcoins for $2Billion in cash, at an avg. price of $74,463 per Bitcoin btw Oct. 31, 2024 and Nov.10, 2024.

GOLD DOWN 2%

TRUMP EYES PRO-CRYPTO CANDIDATES FOR KEY FINANCIAL AGENCIES: WAPO

SOME OF THE NAMES UNDER CONSIDERATION FOR THE SEC AND OTHER POSITIONS INCLUDE DANIEL GALLAGHER, HESTER PEIRCE, MARK UYEDA, PAUL ATKINS, AND CHRIS GIANCARLO

THE CANDIDATE SELECTED FOR THE SEC IS SET TO REPLACE ITS CURRENT CHAIRMAN, GARY GENSLER

MICROSTRATEGY SHARES HITS NEW ALL-TIME HIGH AFTER NEARLY 25 YEARS

BLACKROCK'S SPOT BITCOIN ETF $IBIT HITS ANOTHER RECORD VOLUME OF $4.5B TODAY