Who Got Hacked?

SEC: Hacked Before Major Decision

The US Securities and Exchange Commission's (SEC) long-awaited verdict on a spot-Bitcoin exchange-traded fund (ETF) turned into a significant cybersecurity breach on Tuesday. An unauthorized post from their compromised X account falsely announced the approval of the Bitcoin ETF, leading to a temporary surge in Bitcoin's price and triggering a US investigation into the breach. This incident, especially ironic for an agency that often warns of crypto-related cyber risks, has garnered significant attention.

The breach, which occurred due to the SEC's lack of two-factor authentication on their account, underscores the agency's current focus as it nears a critical decision date. By January 10, the SEC is expected to respond to several applications for Bitcoin ETFs, potentially making a collective announcement.

The approval process for a Bitcoin ETF includes two main steps: the SEC's endorsement of 19b-4 filings by the exchanges planning to list the ETFs, and approval of S-1 registration forms from prospective issuers, including major players like BlackRock and Fidelity. Decisions on these filings could lead to the ETFs being available for trading shortly after approval, possibly as early as the next business day.

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MOON: Landing Cancelled

Astrobotic faced a setback in its first lunar mission when a malfunction after launch led to the cancellation of its moon landing attempt. This mission, involving the Peregrine moon lander, was poised to be the first U.S. moon landing in over 50 years. The malfunction, likely in the propulsion system, caused a significant fuel leak.

Despite a successful launch on ULA's Vulcan rocket from Cape Canaveral, Florida, and initial post-launch operations proceeding well, the propulsion issue soon caused the lander to tumble. Astrobotic has redirected its efforts to gather as much scientific data as possible before the expected power loss by Thursday due to the fuel depletion. The Peregrine lander was carrying 20 payloads, including five for NASA under a $108 million contract.

HOME: Prices Soar

Home prices are rising quickly due to falling mortgage rates. A new CoreLogic report shows a 5.2% national increase in home prices this November compared to last year, more than October's 4.7% rise. This increase is linked to lower mortgage rates, enhancing buyer purchasing power. Despite expectations of a slight price decrease next year, the current low supply and high demand suggest prices will continue rising.

After record lows during the pandemic's first two years, mortgage rates spiked in 2022, reaching a 20-year high in October. The average 30-year fixed mortgage rate, once over 8%, is now in the high 6% range.

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Ryan Reynolds Nearing Billionaire Status

Ryan Reynolds has been quietly creeping toward being a billionaire for years, and you’d never know it. Reynolds has made investments in tons of business ventures that include liquor, sports, finance, and telecommunications. These have all led to multi-million dollar returns. In 2018, he bought a huge stake in Aviation Gin, and two years later, the company sold it for $610 million.

In 2019, Reynolds became an owner of Mint Mobile, which sold to T-Mobile for $1.35 billion. Even though he said that he knew nothing about fintech, he became an investor in WealthSimple, which is now valued in the billions. As a big sports fan, he has acquired stakes in the Ottawa Senators and a professional soccer team. Celebrity Net Worth says he is worth $350 million as of today.

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The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.