What Happened in Crypto Today: Institutions Losing Faith in Bitcoin?

The US markets are on edge as election uncertainty pushes Bitcoin below $69,000.

The numbers tell an interesting story. Bitcoin ETFs just saw their second-largest daily outflow ever - right before Election Day. Seems like big investors aren't too keen on taking chances with their digital gold right now.

Speaking of chances, the race between Trump and Harris couldn't be closer. Both candidates are having a tight race in the swing states, making last-minute pitches to voters.

While Trump's promising to make America the crypto capital of the world, Harris is taking a more measured approach, talking about "consistent and transparent rules."

So what exactly is going on? Let’s make sense of it all! Here is a quick rundown of the top headlines from the past 24 hours:

• Citi and Fidelity International are stepping into blockchain with a tokenized money market fund - But is it just dollar-centric or can we use other currencies too? 💼
• A UK pension fund just made history by adding Bitcoin to their retirement portfolio, citing Bitcoin's 100,000% returns since 2013 - But is it even legal in the UK? 🇬🇧
• Paxos drops news about USDG, a profit-sharing stablecoin backed by major players like Kraken and Robinhood - So how far is this coin from completion? Which chain will it launch on? 💰
• Deutsche Telekom (T-Mobile's parent) jumps into Bitcoin mining using "surplus renewable energy" - But what does "surplus renewable energy" mean? ⚡
• A French trader bet $30M on Trump's election chances using multiple addresses. But how did they track that user? 📊

Let’s dive in!

Another-Day-Another-TradFi-Diving-Into-Blockchain

And this time it's not coming from a startup.

Citi and Fidelity International are bringing blockchain to the trillion-dollar money market industry.

These financial giants just revealed their new tokenized money market fund at the Singapore FinTech Festival. But this isn't just another "we're exploring blockchain" announcement.

They're actually building something that could change how you interact with your short-term investments. Think of instant withdrawals instead of waiting days for your money. And complete transparency about where every dollar is sitting.

So is it just dollar-centric or can we use other currencies too? Read the full story!

UK Pension Money Just Entered Bitcoin For The First Time Ever

A UK pension fund is making rounds by doing something that's never been done before in the region - adding Bitcoin to their retirement portfolio. This isn't just a tiny experimental position either.

The pension advice firm behind this move, Cartwright, is pointing to Bitcoin's mind-bending performance since 2013 - returns approaching 100,000%.

But is it even legal in the UK? Read the full story!

This New Stablecoin Actually Pays You For Using It

A group of crypto giants got together and just announced some major news that could make stablecoins more interesting than they are.

Paxos is planning on launching a new stablecoin called USDG, and it comes with an interesting twist - it shares its profits with users.

Think about that for a second. Usually, stablecoin issuers keep all the interest earned from the reserves. But USDG is flipping that model by giving those returns back to the people and platforms actually using the token.

The project isn't short on big names either. Kraken, Robinhood, Galaxy Digital, and several other major players are already on board. And they've got DBS Bank - Southeast Asia's largest bank - handling the cash reserves.

So how far is this coin from completion? Which chain will it be launched on? Read the full story!

Europe's Biggest Phone Company Is Mining Bitcoin

Deutsche Telekom, the company behind T-Mobile, just made an unexpected move into Bitcoin mining. But here's the interesting part - they're not just mining Bitcoin, they're using excess renewable energy that would otherwise go to waste.

This isn't some small experiment either. They've partnered with one of Germany's traditional banks, Bankhaus Metzler, and engineering firm RIVA to make it happen. And they're calling it something pretty clever: "digital monetary photosynthesis."

What does that mean? Just like plants convert sunlight into energy, they're converting surplus renewable energy into Bitcoin.

What does “surplus renewable energy” mean? Read the full story!

Is Trump Losing the Race?

In the crypto prediction markets, one French trader is making rounds with a massive $30 million bet on Trump's election chances.

The anonymous trader, known only as Théo, isn't just placing simple bets.

But the story took an interesting turn when a different trader just cashed out $3 million worth of Trump shares on Polymarket. This sell-off came right after crypto figure GCR announced taking profits, sending Trump's odds down 4% before stabilizing at 58.1%.

What's particularly fascinating is how Théo built his position. He used multiple accounts like 'Fredi9999' and 'Theo4' to avoid detection while accumulating his massive stake.