The global crypto market breached $3 trillion amid Donald Trump's re-election, intertwining market optimism with his pro-business agenda. Key policy shifts, international diplomacy, and corporate updates also dominated, shaping complex global narratives.

In a remarkable development on November 11, the global cryptocurrency market surged past $3 trillion for the first time since 2021, spurred by expectations surrounding Donald Trump's re-election as US President. Crypto investors foresee his policies fostering a favourable environment for digital assets, with Bitcoin hitting a record price above $84,500. This milestone signifies not only market optimism but also highlights the broader trend of cryptocurrencies gaining mainstream traction. Republican control over US Congress further supports this sentiment, as digital assets align with the administration's proclaimed economic priorities. Alongside the cryptocurrency boom, traditional markets saw notable movements. Bitcoin showed extraordinary gains, pushing its market capitalisation close to the value of all silver mined. Major US market indices, like the S&P 500 and Nasdaq Composite, recorded their longest streak of gains in weeks, although they posted modest increases by day’s end. Meanwhile, Tesla exhibited a particularly strong rally, underlining the continued alignment of market behaviour with Trump’s pro-business agenda. Donald Trump also signalled significant policy shifts in announcing key leadership appointments. Lee Zeldin was tapped to head the Environmental Protection Agency, a choice reflecting the administration's deregulatory momentum. Similarly, Trump indicated a renewed focus on immigration reform by naming Stephen Miller as deputy chief of staff for policy, known for championing major deportation initiatives. On international fronts, Elise Stefanik was appointed US Ambassador to the UN, suggesting fortified support for Israel at multilateral forums. In Europe, markets responded positively, with indices like the Stoxx Europe 600 rebounding by over 1%, driven by rallies in banking stocks and weakening of the euro against the dollar. Oil prices, in contrast, faltered amid underwhelming stimulus news from China. This drop in global oil prices also coincided with reports of Saudi Arabia reducing exports to China, demonstrating sensitivity to economic dynamics in Asia’s largest economy. In another key development, the legal industry witnessed significant consolidation as Herbert Smith Freehills announced a merger with US firm Kramer Levin, signalling increasing synergy between UK and US law firms amid global demands. This merger follows a broader trend of transatlantic partnerships within the legal sector. Against the economic backdrop, climate action remains precarious, as evidenced by concerns expressed during COP29 in Baku. US climate officials expressed worries over the Trump administration’s plans to roll back Biden-era environmental safeguards. Such a shift could diminish global climate mitigation efforts and complicate ongoing international discussions. Despite these challenges, stakeholders continue to rally for broader, enduring climate reforms. Geopolitically, tensions remain high, with ongoing investigations targeting key figures internationally. The International Criminal Court initiated an inquiry into allegations against Chief Prosecutor Karim Khan. Meanwhile, Israel’s Benjamin Netanyahu faced media scrutiny over alleged scandals amidst a period of heightened conflict. Politically, US-Taiwan relations hinted at shifts, with Taiwan exploring substantial defence procurements underscoring its geopolitical priorities and apprehensions about China’s influence. Corporate announcements punctuated the day, including significant developments in healthcare and legal disputes in cryptocurrency. US drugmaker AbbVie saw its stock plummet after failures in schizophrenia drug trials, weakening investor confidence. The embattled FTX exchange filed a lawsuit against Binance and its ex-CEO over alleged fraudulent share deals, further reflecting the regulatory and operational turbulence in the crypto sector. This suite of news illustrates a nexus of economic opportunities, market volatility, and influential policy transformations reshaping global and regional dynamics.