NoneBest Black Friday, Cyber Monday TV deals 2024: My 85+ favorite deals on QLED, OLED, 4K, & moreWarren Buffett , the iconic investor and chairman of Berkshire Hathaway BRK , is renowned for his timeless advice on wealth-building . What Happened : With a net worth of approximately $142 billion, Buffett's strategies resonate deeply with those seeking financial success. Among his key pieces of advice: start investing early, focus on small companies, and don't panic when stocks fluctuate. During the 1999 annual shareholders' meeting, Buffett shared the approach he would take if he were a recent graduate starting out with $10,000 to invest. Buffett emphasizes the power of compound interest, likening it to rolling a small snowball down a long hill. "The trick is to have a very long hill, which means either starting very young or living, to be very old," he said during the shareholders' meeting. Early investing, he argues, allows your money to grow exponentially over time. For those with limited funds, Buffett recommends focusing on smaller companies, where there's less competition from institutional investors. He noted that investing in good businesses, or "buying pieces of them" through stocks at attractive prices, is the key to multiplying wealth. Buffett said that if he were starting with $10,000 today, he'd begin by researching companies alphabetically, starting with names that begin with "A." Also Read: Warren Buffett’s Career Advice: ‘Don’t Think About Money, Take The Job That You Would Take If You Didn’t Need The Job’ Buffett also stresses the importance of long-term thinking. "Some people should not own stocks at all because they just get too upset with price fluctuations. If you're gonna do dumb things because your stock goes down, you shouldn't own a stock at all," he told CNBC in 2018. Stock prices will inevitably dip at times, but Buffett urges investors to remain patient and focus on the long-term value of their holdings. "Buy something you like, at a price you like, and then hold it for 20 years," he advised. He further warns against obsessing over daily stock price fluctuations. Comparing stock ownership to real estate, he said, "If you bought a farm or an apartment house, you wouldn't get a quote on it every day or every week." Instead, Buffett recommends treating stocks as long-term investments, ignoring short-term market noise. Buffett's principles—start early, think long-term, and invest in solid businesses—remain guiding lights for those looking to build lasting wealth. Read Next Warren Buffett's Success Mantra: ‘The Amount You Are Loved Is The Ultimate Measure Of Success In Life' This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

A new year invariably brings new products, and the motorcycle industry is no exception. With 2024 coming to a close, it's time to take stock of what our favorite motorcycle brands are bringing to the table for 2025 — and this time, it's Yamaha's turn. The long-running Japanese manufacturer has been building bikes since the 1940s , and it has a healthy range of two-wheeled offerings, from entry-level naked and sports bikes all the way to ultra-high-performance flagship products like the legendary Yamaha YZF-R1 . While not every one of these bikes is getting the update treatment for 2025, the company has outlined six motorcycles getting big changes. There's also a brand-new sports bike in the mix that sits between the YZF-R1 and R7, which should be great news for those who've been yearning for something spicier than the latter, without the cost of the former. A quick word before we begin: this list focuses solely on the products Yamaha is updating or introducing for 2025. This doesn't mean that they're the only bikes Yamaha will sell in 2025; many models are returning for 2025 without any major changes, so they're not going to be on this list. With that little caveat out of the way, though, let's get started. We start our look at Yamaha's 2025 bikes with the company's update of the MT-03, its entry-level — and very affordable — naked motorcycle. First debuting in 2006 as a 660cc bike, the MT-03 as we know it today is essentially a reskinned Yamaha YZF-R3, with the 2016 model repackaging the R3's 321cc parallel-twin engine and frame in the form of a naked bike. Yamaha updated the MT-03 for 2020, retaining the powertrain but adding a new suspension setup — including a preload-adjustable shock at the rear — and larger brakes, as well as an LCD instrument cluster. Reviewers at the time loved the updated bike, and Yamaha has cleverly opted not to change too much with the 2025 MT-03, leaving most of the upgrades it introduced in 2020 in place. So the suspension and braking setup is the same as it's been for the past four years, as is the engine. Instead, Yamaha has tried to make the MT-03 even more beginner-friendly, improving the ergonomics with a slimmer rider's seat to help riders reach the ground more easily, as well as a wider passenger seat. An Assist & Slipper clutch also comes to the MT-03, smoothing out downshifts and making the clutch lever easier to pull. Other updates include a redesigned tail and new smartphone connectivity, which allows the updated LCD instrument cluster — with a USB port — to display incoming calls, emails, and message notifications. The 2025 Yamaha MT-03's MSRP stays at $4,999. Those of you who prefer sports bike styling will be pleased to know that Yamaha is also updating its beginner-friendly YZF offering , the YZF-R3, for 2025. The new YZF-R3 retains the 321cc engine that has powered it — and the MT-03 — since its 2015 debut, with Yamaha also opting to keep the suspension and tire upgrades it introduced in 2019 for 2025. Like the MT-03, then, the 2025 YZF-R3's updates focus more on the rider experience, with the company seemingly looking to make the R3 even more accessible than it has been before. To that end, the 2025 Yamaha YZF-R3 has a narrower seat and less obtrusive side covers, to allow riders to reach the ground more comfortably. An Assist & Slipper clutch also comes standard for 2025, with its assist and slipper cams making for more controlled downshifts and a lighter clutch lever. As with the MT-03, the YZF-R3 has updated smartphone functionality via Yamaha's Y-Connect app, which lets the new 5-inch LCD show notifications and useful info like distance covered, current location, and fuel consumption. All of these new features come wrapped in a revised exterior that draws inspiration from Yamaha's MotoGP bike. You get a new front, side panels, and tail section, with LED lights all across the board. You can expect to pay $5,499 for the 2025 YZF-R3, the same as the 2024 model. The MT-03 isn't the only updated bike in Yamaha's MT family for 2025. Launching in the U.S. as the FZ-07, Yamaha's 689cc naked bike adopted the MT-07 moniker for the American market in 2018. The motorcycle got more than just a new name, though, with new bodywork and an upgraded suspension — with new spring rates and adjustable rebound in the rear — addressing a common criticism of the MT-07's first iteration. In 2025, Yamaha is once again turning its attention to the MT-07, bringing significant aesthetic and functional upgrades. The 689cc motorbike is getting a much more thorough redesign than the MT-03, with a new headlight unit aligning its look with the next model up in the range, the 890cc MT-09. The tank is also getting slimmer, and the tail section and seat assembly are getting adjustments for improved ergonomics. Mechanical updates include a new KYB suspension, with a 41-millimeter front fork and monocross rear shock for more aggressive ride and handling. We also get new front brakes, lighter SpinForged wheels, and an Assist & Slipper clutch for smoother downshifts. Yamaha is also introducing its Yamaha Chip Controlled Throttle (YCC-T), which provides better power delivery and enables Yamaha Ride Control (YRC) rider aids, including traction control and differing throttle responses. Finally, Yamaha rounds off the package with a new 5-inch, full-color TFT and smartphone connectivity — including navigation app support. Unlike the MT-03, the MT-07's MSRP climbs slightly for 2025, with the updated version starting at $8,599. First introduced in 2016, Yamaha's neo-retro XSR900 is stepping into the future in 2025. Yamaha is bringing an injection of fresh technology without losing the retro charm of what Cycle World hailed as the "best middleweight streetbike" back in 2016. The XSR900 was never a truly retro bike, mind you: The looks may be old-school, but the Yamaha MT-09-derived three-cylinder 890cc powertrain was always thoroughly modern, with traction control and multiple power delivery profiles on hand, as you would find in many modern bikes. And for 2025, Yamaha is leaning into this retro-modern hybridity even more. The XSR900 is getting a 5-inch TFT display — with an emulated analog tachometer exclusive to the XSR900 — and smartphone connectivity, YRC ride modes — sport, street, and rain, plus two user-customizable modes — and a Yamaha Variable Speed Limiter (YVSL) to let riders set a maximum speed. Other updates for 2025 include the Back Slip Regulator (BSR), which helps in low-grip situations by limiting how much torque the engine sends to the rear wheel during engine braking. The 2025 XSR900 also gets Yamaha's third-generation quick-shifter for clutchless up- and downshifts, a customizable KYB rear suspension, and rejigged ergonomics — including 14 positions for the clutch lever, a new seat design, and reshaped handlebars. The 2025 Yamaha XSR900 starts at $10,599, a slight increase from the $10,299 of the 2024 model. Yamaha's 2025 refreshes aren't limited to its road bikes. The Ténéré 700 is getting a full refresh for 2025 too, bringing a host of new features and changes to the Japanese manufacturer's adventure bike. First introduced in 2019, the Ténéré 700 is a much-loved adventure bike capable of on- and off-road action. 2025 sees Yamaha's biggest update thus far, following some smaller updates in the years prior — including the first introduction of the TFT display and adjustable ABS settings in 2023. That TFT display is one of the big upgrades for 2025, with the new model now sporting a 6.3-inch screen to complement enhanced smartphone connectivity, with the Ténéré 700 allowing riders to make and receive phone calls, use Google Maps, and listen to music. The 2025 Ténéré 700 also gets Yamaha's YCC-T ride-by-wire system, allowing two user-selectable throttle maps and a traction control system. Yamaha's also specced a new KYB suspension, with a 43-millimeter adjustable front fork and linked-type monocross rear shock now standard. Power also sees a boost, with a new air intake allegedly improving torque at lower revs. Finally, the 2025 Ténéré 700 gets new bodywork and improved ergonomics, with the result being an adventure bike that should stay competitive against all the Ténéré 700 alternatives out there. Yamaha has increased the Ténéré 700's MSRP to $10,999 for 2025. And now we come to the only all-new motorcycle coming to Yamaha's lineup for 2025, the Yamaha YZF-R9 . As the name suggests, the YZF-R9 is part of Yamaha's YZF family of performance motorcycles , aiming to offer high-end performance in a more accessible and inviting package than Yamaha's more hardcore sport bikes. That doesn't mean the R9 is a slouch — far from it. The YZF-R9 sports Yamaha's three-cylinder, 890cc CP3 engine as seen in the XSR900 and MT-09, but with tweaked ECU settings and taller gearing allowing for a wider torque curve and total power output of 117 hp. Encasing this three-cylinder engine is a lightweight Deltabox aluminum chassis that Yamaha claims is the lightest ever seen on a Yamaha sports bike. Fully adjustable KYB suspension connects the frame to the wheels, which sport Brembo Stylema brakes and toggleable rear-wheel ABS for hardcore track days. Yamaha's high-tech YZF-R1 tech trickles down to the new kid in the form of a six-axis Inertial Measurement Unit (IMU), which provides info to the YZF-R9's selection of rider aids — a nine-mode traction control system, three-mode slide and lift control systems, and braking assist. As with most of Yamaha's updated 2025 models, the YZF-R9 displays all essential information on a 5-inch TFT screen with five themes, including a dedicated track mode. Smartphone connectivity via the Yamaha Y-Connect app is also available, as is navigation via Garmin's StreetCross. The Yamaha YZF-R9 will set you back $12,499. Sitting at the top of Yamaha's 2025 offerings price-wise is the updated Tracer 9, the company's flagship touring bike. First debuting as the MT-09 Tracer in 2015, the motorcycle was last updated in 2021, when it debuted the Tracer 9 name alongside the fully redesigned Yamaha MT-09 on which it's based . But where the MT-09 isn't getting any big updates for 2025, Yamaha has seen fit to bring a bevy of changes to the Tracer 9 to keep it competitive against the other major sport touring bikes . The headline addition to the Tracer 9 for 2025 is Yamaha's YRC, which lets riders adjust engine power and rider aids according to preference. YRC on the Tracer 9 has three preset modes — sport, street, and rain — with two slots for user-customized YRC settings. Yamaha's speed limiter also debuts for 2025, allowing you to set a preferred speed limit. But 2025 isn't all about new tech: the Tracer 9 gets a new frame and subframe for better handling and comfort, which, combined with ergonomic improvements like a new handlebar angle and more comfortable seats, should make for even better long-distance riding than before. Yamaha is also introducing a new 7-inch TFT on the Tracer 9, and the extra-large display sports three themes for the rider to choose from. Other modern conveniences include a USB-C port — for charging and powering devices — and a dedicated smartphone box. The 2025 Tracer 9 starts at $12,599.

( MENAFN - UkrinForm) In Kharkiv region, 39 searches were carried out involving employees of district Territorial Recruitment and Social Support Centers (TRC) and Military Medical Commissions (MMC), who are implicated in a case concerning document falsification to evade mobilization. This was reported on facebook by Serhii Bolvinov, Head of the Investigative Department of the Main Directorate of the National Police in Kharkiv region, as cited by Ukrinform. "Thirty-nine searches targeting TRC and MMC employees revealed a scheme where officials colluded to profit from draft evaders. They abused their authority, operated in concert for an extended period, and managed to remove individuals from military registration without legal grounds. Officials entered knowingly false information into documents, resulting in military-age individuals being declared unfit or partially fit for service," Bolvinov stated. According to Bolvinov, those involved also "facilitated the illegal crossing of men over the border." "They also engaged in payroll fraud - issuing salaries to individuals who were not performing military service. For money, they 'resolved issues' regarding the mobilization of vehicles intended for the front lines," he added. He noted that money, assets, military records, and medical documents were seized from all suspects, and their property has been frozen. Law enforcement is currently reviewing the documentation and interrogating those involved. "Particular attention is being paid to the wealth and assets of TRC and MMC personnel. We are investigating the origin of every single hryvnia," Bolvinov emphasized. As previously reported, 13 members of the Medical and Social Expert Commissions (MSEC) in Kharkiv region are implicated in criminal proceedings. MENAFN27122024000193011044ID1109036138 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

TROY, Ala. (AP) — Damien Taylor rushed for 169 yards and three touchdowns, Matthew Caldwell threw for a touchdown and ran for another, and Troy scored 21 points in less than two minutes in the fourth quarter to beat Southern Miss 52-20 on Saturday. Taylor went straight up the middle from 56-yards out to give Troy a 24-8 lead midway through the third quarter. He added a 35-yard scoring run for a 38-20 lead with 5:50 left in the fourth. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.

Justin Trudeau taking the time to reflect after Chrystia Freeland's departure

The Miami Hurricanes, who once appeared to be a near-lock for the College Football Playoff, are not playing for a national title. Instead, they will play in the Pop-Tarts Bowl in Orlando. That bowl berth against Iowa State is a let-down for fans with dreams of a sixth national title in their minds, as well as players hoping to compete for a championship. However, Miami’s trip to Orlando and the lead-up to it are still crucial periods for the Hurricanes for multiple reasons. First, it’s a chance for the program to achieve something it has not done in more than two decades: win 11 games. Although the 11th win won’t get them closer to a championship, it is a good sign of the program’s progress over Mario Cristobal’s tenure. It would also end UM’s five-game losing streak in bowls. “We’re not satisfied,” Cristobal said. “We want to win every single game. We won 10. We were close on the other two, but close isn’t good enough. We want progress. We’re hungry and driven to get better, and so that’s what our focus is on: to improving as a football program, to getting better, to moving into the postseason with an opportunity against a great football team like this and putting our best on the field.” There are signs the Hurricanes will show up at close to full strength for the bowl game. Running back Damien Martinez announced he was going to play, and star quarterback Cam Ward said in a video call posted on social media that he intends to play, as well. “We’re trying to win our first bowl game in 20 years,” Ward said in the video, mistaking the length of UM’s long bowl losing streak. “We’re going hard.” Playing in the bowl game also provides the opportunity for the Hurricanes to get in several practices between now and the game. That means Miami can develop its young players and prepare them for next season during both the practices and the bowl game itself. “It’s extremely valuable,” Cristobal said. “You really don’t have many opportunities throughout the course of the year — time is limited more and more each season with your student-athletes. I want to state this and be very clear: it’s very important, it’s ultra-important for the University of Miami to continue to develop and grow and progress by stressing the importance of offseason opportunities ... You learn a lot about your team and learn a lot about your people and your program when you head to the postseason.” Of course, there are potential negatives. Players can get hurt; Mark Fletcher Jr. suffered a foot injury in the Pinstripe Bowl last year that cost him all of spring practice. A poor performance can also potentially set the tone for next season, like how Florida State, fresh off a playoff snub last year, suffered a devastating loss against Georgia in the Orange Bowl and went on to a dismal 2-10 season this year. “This is the ending of ’24 and the beginning of ’25,” Cristobal said. “This is the last opportunity to be on the field and carry some momentum into the offseason. So it is, in essence, it is the most important game because it’s the next game. “There’s a lot of excitement in the form of opportunity for our guys. Our guys love to play football. The chance to play one more time with this special group — this is a special group of guys now. They’ve worked hard to really change the trajectory of the University of Miami, and they want to continue to elevate the status and the culture at the University of Miami. So certainly a ton to play for.” ©2024 South Florida Sun Sentinel. Visit at sun-sentinel.com . Distributed by Tribune Content Agency, LLC.Quick Links Company overview and brief history A company born from mergers Current products include aircraft, ships, and other weapons systems Impressive financial performance in recent years While the vast majority of the world's largest defense contractors are located in the United States and service the world's highest-spending military and the majority of its allies, there are a few defense contractors across Europe that still play a major role in global defense production. On the continent, Airbus Defense plays a major role in the arms manufacturing industry, especially when it comes to helicopters . Get all the latest aviation news from Simple Flying! The Italian defense contractor Leonardo also plays an important role , even providing some services to the United States Armed Forces. In the United Kingdom, the defense industry was extensively fractured following WWII, with many different manufacturers having thrived during the wartime production period. However, once the conflict was over, there was a major void in the market, with an oversupply of manufacturers and much weaker demand for military aircraft and other weapons systems with the conflict coming to an end. As a result, the British defense industry underwent an extensive period of corporate consolidation, in which several mergers and acquisitions slowly lowered the number of defense contractors in the United Kingdom. Electronic warfare drones will be a huge asset on the modern battlefield. Today, BAE Systems is Britain's largest and most important defense contractor While some contractors attempted to either enter the commercial manufacturing space or market their products abroad, the majority failed to achieve the level of financial stability needed to continue independent operations. As a result, further consolidation continued until the twenty-first century, where only one true dominant player remains in the United Kingdom's defense manufacturing industry. Formed from the merger of multiple different manufacturers over the years, today's BAE Systems is one of the largest arms manufacturers worldwide. Let's take a deeper look at this massive company, the products it sells on the market today and examine its continued financial success. Company overview and brief history According to an analysis from Defense News , BAE Systems is the seventh-largest defense contractor in the world today, and its importance in the European market is only continuing to grow. The following table demonstrates the ten largest defense contractors worldwide, according to their revenues from 2023. Defense contractor: Country of origin: 2023 revenue (billion, USD): Lockheed Martin United States $64.6 Aviation Industry Corporation of China China $44.9 RTX Corporation United States $40.6 Northrop Grumman United States $35.1 General Dynamics United States $33.6 Boeing United States $32.6 BAE Systems United Kingdom $27.5 China State Shipbuilding Corporation China $21.1 China North Industries Group China $16.6 L3Harris Technologies United States $15.5 As we can immediately tell from this graphic, BAE Systems is the largest defense contractor in Europe and is one of the only ones globally that stands toe to toe in scale with the major contractors from the United States and China. The company currently employs over 90,000 people across the globe. A company born from mergers BAE Systems today is a massive multinational aerospace, defense, and cybersecurity-oriented conglomerate that remains headquartered in London. The company's primary markets for product sales unsurprisingly include the United Kingdom and multiple other European nations, but its US subsidiary, BAE Systems Inc., is a major defense contractor for the United States Armed Forces. Other major customers have historically included Saudi Arabia, Australia, Canada, India, and Japan. The company as it stands today was founded in 1999 when it entered the market following the merger of British Aerospace and Marconi Electronic Systems. The company also emerged as the successor to de Havilland, Hawker Siddeley, and Supermarine, all British aircraft manufacturers with storied heritages. The Irish flag carrier had humble beginnings. The company has expanded through acquisitions over the years, including that of US-based United Defense and Armor Holdings, and has also diverted its shares in multiple major joint ventures, including Airbus. The company later became a key partner in multiple major aircraft programs, including the F-35 Lightning II and Eurofighter Typhoon, as well as multiple different submarine and ship classes for the Royal Navy. Current products include aircraft, ships, and other weapons systems BAE Systems today specializes in the production of multiple types of next-generation military weapons systems and other equipment. Its most important product in the aerospace sector is the Eurofighter Typhoon , which it produces through a joint venture with Airbus and Leonardo, where it maintains a 33% stake. The aircraft is a major partner in the F-35 Lightning II program as well, which remains a major piece of air superiority strategy for global air forces. The organization also produces several trainer aircraft, including the popular Hawk , and it is currently developing the Tempest, a sixth-generation trainer aircraft set to enter service by 2035. The company also plays an important role in land-based weapons systems manufacturing , including Challenger 2 tanks and M777 Howitzer artillery. The company also produces widely distributed weapons like the SA80 assault rifle, according to Defense Procurement International . The company plays an important role in naval manufacturing, including the production of Astute-class submarines, Type 26 frigates, and Dreadnought-class submarines. Impressive financial performance in recent years Despite a relatively lukewarm financial performance this year, BAE Systems, a publicly traded company, has achieved fairly impressive returns in the years following the COVID-19 pandemic. Since the beginning of 2020, nearly five years ago, the company has seen stock prices rise by over 100%, with sales booming amid a period of extended global conflict.

The price of bitcoin surged past $100,000 for the first time on Thursday, continuing a post-election run buoyed by the pro-crypto promise of the incoming Trump administration. On Election Day, bitcoin — one of the most popular decentralized digital assets available — was worth $69,374, according to the cryptocurrency trading platform Coinbase. Within a month, it had spiked more than 44 percent. Other cryptocurrencies like ethereum and XRP also shot up during that period.Cryptocurrencies’ sudden increase in value is a sign of investor optimism about President-elect Donald Trump’s policies and those of his picks to head several key regulatory agencies, some of whom have explicitly promised deregulation of the crypto industry. “That bitcoin hit the $100,000 mark reflects the expectation of both political support and regulatory latitude under the incoming administration,” said Ramaa Vasudevan, an economics professor at Colorado State University who has been critical of crypto. “The nomination of crypto-enthusiasts for administrative posts is a clear signal of the embrace of bitcoin and crypto triggering the flood of money into these markets.” Bitcoin’s rally is also a product of its increased legitimacy. Trump’s election may have sparked its rally, but the financial establishment’s embrace of the asset in recent months provided the tinder. While bitcoin was once a niche curiosity, it is now a mainstream digital currency that everyday Americans can now buy through reputable retail investment accounts. Even if bitcoin ultimately turns out to be a bubble, as many economists have argued it may, these investment vehicles have assured it some staying power.The policies of the incoming Trump administration are fueling optimismTrump has been an ardent cryptocurrency supporter throughout his most recent presidential campaign, and his choices to lead key government agencies related to its regulation reflect that enthusiasm. Bitcoin hit its highest valuation ever following the nomination of Paul Atkins on Wednesday to head the Securities and Exchange Commission (SEC), which is in charge of regulating tradable securities like stocks. Atkins was previously an SEC commissioner for six years during former President George W. Bush’s administration.Atkins is “not necessarily the sort of burn-it-all-down type of nominee that Trump has decided upon for other positions,” Molly White, a cryptocurrency researcher and critic, told Vox. “He’s fairly establishment; he has the SEC background, but he also was a very strong advocate for deregulation when he was in the SEC and certainly since then.” Atkins is also a co-chair of the Chamber of Digital Commerce’s Token Alliance, an industry lobbying group that advocates for lax regulation of cryptocurrencies.Perianne Boring, the CEO of the Chamber of Digital Commerce, is rumored to be one of Trump’s top picks for another key position: head of the Commodity Futures Trading Commission (CFTC), which makes rules around the trading of futures and commodities. Currently, cryptocurrency is under the purview of the SEC, but the Trump administration is reportedly weighing regulating it as a commodity instead. If that change is made, cryptocurrency would come under the purview of the CFTC, which is often seen to be more hands-off in its approach to regulation. Billionaire crypto enthusiast David Sacks, whom Trump named Thursday as his crypto and AI czar, will be tasked with helping formulate crypto and AI policy from the White House. In that role, Trump said in a post on Truth Social, Sacks will work closely with both the SEC and CTFC to develop a legal framework to regulate crypto.Trump himself is also connected to cryptocurrency via his family’s cryptocurrency and trading venture World Liberty Financial. Pro-cryptocurrency groups spent $245 million in this year’s elections, more than any other industry, to support candidates across the country seen as friendlier to crypto. All of that likely means that the regulatory landscape under a Trump administration will be much friendlier for crypto following heavier regulations and a slew of lawsuits against crypto companies during current SEC chair Gary Gensler’s tenure. “The recent wave of investment in the crypto space is largely driven by the growing belief that years of regulatory uncertainty and lawfare may finally be giving way to clarity,” said Christian Catalini, founder of the MIT Cryptoeconomics Lab.Gensler’s SEC cracked down on trading platforms like Coinbase, Binance, and Kraken, arguing that the buying and selling of cryptocurrency should have the same oversight as something like a stock or bond, and that investors should have access to the same kinds of information about crypto companies as they would have about a company that they are buying stock in. Crypto trading platforms and associated companies, however, argue that crypto tokens aren’t the same as stocks and therefore shouldn’t have the same regulations applied.The SEC has brought lawsuits against several major crypto platforms, including Coinbase, which are ongoing. But they could be dropped under the Trump administration, and regulation around bitcoin and other cryptocurrencies is likely to change significantly under Trump.Under a Trump regulatory regime, cryptocurrency exchanges like Binance and Coinbase could operate with less threat of litigation, making it easier for people to trade on their platforms. Enthusiasts say this will spur innovation in the industry, but it could also mean that individual traders using such platforms are more exposed to fraud, theft, and the volatile nature of the currency.Bitcoin has become an established digital assetOver the past five years, and particularly following the downfall of crypto trading platform FTX in 2022, the narrative around cryptocurrency’s utility has changed. Now, it’s being touted more as an investment instrument rather than a form of currency that can be used like cash, White said. And that pivot is also helping its valuation. In January, the SEC gave the green light to the first bitcoin exchange-traded funds (or ETFs) in the US. ETFs are baskets of financial instruments (such as stocks, bonds, commodities, or in this case, cryptocurrencies like bitcoin or ethereum) that are bought and sold on a regulated stock exchange.ETFs offer anyone indirect access to cryptocurrency, if they choose to invest. Put simply, if the value of bitcoin increases, so does the value of these ETFs — but because of the bundled nature of ETFs and their presence on a regulated exchange, investors are more insulated from loss if bitcoin’s value declines. Firms including BlackRock, Invesco, Fidelity, Grayscale, and Ark Invest have rolled out bitcoin funds, which offer new investors, especially those who might be more risk-averse, easy ways to purchase or gain exposure to cryptocurrency.Previously, investors had limited options for trading bitcoin. They could go on a cryptocurrency exchange to directly buy bitcoin, but then would have to figure out how to safely and conveniently store it long-term. (Cryptocurrency held on an exchange can be vulnerable to theft, while crypto stored offline is safer but difficult to trade.) They could also invest in risky bitcoin futures, agreeing to buy or sell the currency at a later date at a certain price. Now, ETFs offer an establishment-backed option.“While no one can predict the exact inflection point or when the price will stabilize, the long-term driver of bitcoin’s rise is its evolution — not just as digital gold, but as a foundational layer of global financial infrastructure,” Catalini said.However, Vasudevan said that there is still reason to believe that crypto’s climb won’t last forever. Bitcoin has surged before, only to crash precipitously. In November 2022, bitcoin’s value dropped 20 percent, to below $16,000, in a matter of days after the spectacular downfall of the crypto exchange FTX. The concern remains that the price of crypto is based purely on speculation, rather than any inherent value.“This has all the makings of another bubble, one that is being stoked by the prospect of a more favorable regulatory environment and the possibilities it is opening for new products and funds that can draw in more and more people into these markets,” Vasudevan said.

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