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"Futures on the world's most popular cryptocurrency surged as much as 26% in their debut session on Cboe Global Markets Inc.'s exchange, triggering two temporary trading halts designed to calm the market," per Bloomberg:

  • "Initial volumes exceeded dealers' expectations, while traffic on Cboe's website was so heavy that it caused delays and outages."
  • Why it matters: "The launch of futures on a regulated exchange is a watershed for bitcoin, whose surge this year has captivated everyone from mom-and-pop speculators to Wall Street trading firms. "

Be smart: "The new gold," or a tulip craze? Bloomberg View brings us Bitcoin in one sentence: "No one's in charge."

Go deeper: A quarter trillion dollars is at risk when bitcoin crashes — and that’s just for starters

Go deeper

Updated 1 min ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President-elect Joe Biden and Vice President-elect Kamala Harris have arrived at the Capitol. Members of congressional leadership and VIPs will soon be introduced. Watch a livestream here.

What's next: Biden and Harris will take their oaths of office. Shortly after, President Biden will deliver his inaugural address. What to expect.

In photos: The Biden and Harris inauguration

Doug Emhoff, Vice President-elect Kamala Harris, Jill Biden and President-elect Joe Biden arrive at the U.S. Capitol for the inauguration on Jan. 20. Photo: Joe Raedle/Getty Images

Joe Biden and Kamala Harris are being inaugurated as president and vice president respectively in a ceremony at the U.S. Capitol on Wednesday morning.

Why it matters: Top Democrats and Republicans gathered for the peaceful transfer of power at the Capitol only two weeks after an unprecedented siege on the building by Trump supporters. Trump did not attend the ceremony.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Momentum builds for major antitrust reform

Illustration: Aïda Amer/Axios

President Trump's outgoing antitrust chief Makan Delrahim on Tuesday endorsed a proposal from House Democrats that would put new limits on acquisitions by large companies, during comments made at a Duke University event.

Why it matters: Momentum is building for major antitrust reform, updating rules that were written for railroads instead of routers.