Finance

Brazil’s Finance Minister, Congress Leaders Work to Assure Markets Amid Tax Reform Worries

Brazil's currency recovered on Friday from record intraday lows after congressional leaders announced they would delay the government’s income tax reform. Additionally, the finance minister emphasized that fiscal commitment extends beyond just a new spending cuts package.

“We won’t accomplish everything that needs to be done with a single solution. This set of measures is not the final step in what we need to achieve,” stated Minister Fernando Haddad during an event hosted by the banking lobby group Febraban.

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TECH

Top Black Friday Tech Deals You Can’t Miss

Hey there! Chances are you're here looking for Black Friday tech deals, and when you saw WIRED, you thought, "Wires are tech, right?" Well, you’re absolutely right! Think of me as your personal shopping tech support—I might not be able to troubleshoot your router, but I can definitely recommend the best ones to buy.

In this guide, you’ll find the best deals on WIRED-tested tech gadgets, both wired and wireless. No bias here! From iPads to wireless headphones, smartphones, and smart home devices, I’ve handpicked some of our top tech picks, all with fantastic discounts. And stay tuned—we'll be adding more deals throughout the Cyber weekend. Isn't that exciting? Happy hunting!

Apple iPad (10th Gen, 2022) for $250 ($100 off)—Clip the Coupon OnePlus Pad 2 Android Tablet for $450 ($100 off)

CRYPTO

Analyst Cautions Against 'Leverage-Driven Pump' as XRP Price Soars

CryptoQuant community analyst Maartunn warned that XRP's recent price surge is likely a “leverage-driven pump,” recalling a similar event in the past that ended in a 17% correction.

As of the latest update from CryptoSlate, XRP is priced at $1.72, reflecting a 16.4% increase over the past 24 hours, making it one of the top-performing cryptocurrencies in the top 10. The surge was accompanied by a 37% rise in open interest for XRP futures.

Over the last 30 days, XRP has skyrocketed by 232%, far outpacing the average crypto market return of 57.3% during the same period.

The bullish momentum for XRP began shortly after the U.S. election results, which saw former President Donald Trump returning to the White House for a second term. His crypto-friendly stance during the campaign sparked optimism among investors, helping drive up the price of various altcoins, including XRP, which surpassed the $1 mark for the first time since November 2021.

However, XRP's most significant jump occurred after November 21, when U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler announced his planned departure from the role in 2025. XRP's price surged by 35% in a few hours, reaching $1.60. Gensler’s tenure, characterized by a “regulation by enforcement” strategy, had led to SEC crackdowns on major crypto firms, including Binance, Kraken, Coinbase, and Ripple itself.

This price spike has raised hopes that the ongoing SEC lawsuit against Ripple could be dismissed with the start of Trump’s second term, making XRP an attractive investment. Additionally, Ripple has been making strategic moves, such as investing in Bitwise’s XRP fund and launching the first tokenized money market fund on the XRP Ledger.

In summary, while the recent surge in XRP’s price has been fueled by both external political factors and Ripple's developments, analysts caution that the gains could be unsustainable and driven by leverage, with the possibility of a market correction in the future.