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Bitcoin had a bad day. Amid a wider crypto (and overall market) selloff, bitcoin plunged yesterday, briefly dipping below $85,000 before regaining some ground to end its worst day since March. With markets volatile, the digital currency is down more than 30% since its record high in October. Traders use liquidation data to get a sense of risk appetite, and Bloomberg reports that nearly $1 billion in leveraged crypto positions were liquidated yesterday. Other digital coins, including ether, also fell sharply as macroeconomic concerns—among them whether the Fed will cut interest rates this month—continue to loom large for investors.
NYC poised to get three casinos. New Yorkers may soon no longer have to find out what happens in Vegas, as a state gaming board signed off on three casino licenses yesterday, paving the way for its first facilities. One license will go to Mets owner Steve Cohen and the Hard Rock to open a gaming den, hotel, and event complex next to Citi Field in Queens. Another will go to gaming company Bally’s, which plans to open a casino on a former Trump Organization golf course in the Bronx (which could net the president’s company $115 million), and the other is for Genting Group, which will add gaming to its racetrack in Queens. The projects—which supporters say will generate billions worth of economic activity—still need one final approval, but they’re all expected to get it.
White House says second strike on alleged drug boat was lawful, despite lawmakers’ concerns. With lawmakers on both sides of the aisle supporting an investigation into the legality of the US ordering a second strike on a boat allegedly carrying drugs off the coast of Venezuela that killed two survivors of a prior lethal attack (with at least one legislator calling it a potential war crime), the White House yesterday backed the decision to order the strike. White House Press Secretary Karoline Leavitt said the Navy admiral who gave the order acted “well within his authority and the law.” On Sunday, President Trump said Defense Secretary Pete Hegseth had told him he did not directly order the second strike.—AR
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