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- Indiana Eyes Bitcoin for State Funds 🪙
Indiana Eyes Bitcoin for State Funds 🪙
Ryan Serkes
February 11, 2025
The
Daily Trade
Hey Daily Traders,
In Hamtramck, Michigan, a decades-long civil rights case reaches a resolution as the city fulfills its promise to build 200 homes for victims of past racial discrimination. This milestone not only addresses historical injustices but also marks a new chapter for the city, now a diverse community, as it provides fresh opportunities for families like Leslie Knox's.
Meanwhile, in California, the rapid sale of a burned Pacific Palisades lot highlights investor interest despite recent fire devastation. This transaction, alongside Hawaii's $4 billion settlement for the Maui wildfire, underscores the resilience and complexities of real estate markets in disaster-stricken areas. On the crypto front, Indiana's potential Bitcoin investment and LM Funding America's conference participation signal evolving interest and discussions in digital assets.
Here's what's happening today:
- 🏡 City settles discrimination case with new homes.
- 🔥 Burned lot in Pacific Palisades sells quickly.
- 💰 Hawaii court allows $4B wildfire settlement.
- 🏛️ Indiana considers state investment in Bitcoin.
- 🔍 LM Funding to discuss crypto future at conference.
Question
What are your thoughts on Indiana potentially investing state funds in Bitcoin? Do you think it's a wise move for public retirement portfolios to explore cryptocurrency investments?
Reply to this email with your answer
Real Estate  In Hamtramck, Michigan, a long-standing legal settlement requiring the city to build 200 homes for victims of past racial discrimination has finally been fulfilled. Leslie Knox, a retired nurse, is one of the beneficiaries of this settlement, receiving a new home without a mortgage. The settlement stems from a 1968 lawsuit that accused the city of demolishing Black neighborhoods to displace residents. The city, after years of financial challenges and state oversight, completed the promise with the help of federal and state grants. The lawsuit, one of the longest-running civil rights cases in U.S. housing history, required Hamtramck to prioritize housing for those affected by the discrimination. The city has transformed over the years, now hosting a diverse population with a significant Muslim community. Despite the challenges and delays, the completion of the settlement marks a significant milestone in addressing historical injustices and providing new opportunities for affected families. Key Takeaway
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Real Estate  A burned lot in Pacific Palisades, California, has been sold for nearly $1 million, just weeks after the Palisades Fire devastated the area. The property, initially purchased for $1.54 million in 2005, was listed shortly after the fire and attracted significant interest from investors. The seller, who decided not to rebuild, found a local investor willing to buy the lot, despite the recent destruction. The Palisades Fire, fueled by strong Santa Ana winds, destroyed over 23,000 acres and thousands of structures. The fire's rapid spread and the subsequent sale of the burned lot underscore the ongoing challenges and opportunities in real estate markets affected by natural disasters. The area's recovery and investor interest suggest resilience and potential for future development. Key Takeaway
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Real Estate Hawaii's Supreme Court has ruled against insurance companies seeking to pursue separate legal actions over the 2023 Maui wildfire, allowing a $4 billion settlement to move forward. The ruling resolves a significant legal hurdle, enabling the settlement to proceed between thousands of plaintiffs and defendants, including Hawaiian Electric Company. The settlement had been delayed due to insurance companies' insistence on their right to recoup payouts independently. This decision marks a pivotal moment in addressing the aftermath of the deadliest U.S. wildfire in over a century. It underscores the complexities of insurance claims and liability in large-scale disasters. The ruling facilitates compensation for affected residents and businesses, highlighting the ongoing legal and financial challenges in disaster recovery and the importance of judicial decisions in resolving such disputes. Key Takeaway
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Crypto  Indiana's House Bill 1322, which proposes the state invest in Bitcoin, has passed a key committee and is set for further discussion. Authored by Republican State Rep. Jake Teshka, the bill would allow state retirement funds to invest in Bitcoin exchange-traded funds, exploring the potential benefits of blockchain technology. The bill has sparked debate, with some lawmakers expressing concerns about the volatility and risks associated with cryptocurrency investments. The proposal reflects a growing interest in integrating digital assets into traditional investment portfolios. If passed, Indiana would join a small group of states considering cryptocurrency investments for public funds. This move could pave the way for broader acceptance and integration of digital currencies in state financial strategies, highlighting the evolving landscape of investment opportunities and regulatory considerations. Key Takeaway
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Crypto LM Funding America, a cryptocurrency mining and specialty finance company, will participate in the 'Digital Assets 2025: To Bitcoin and Beyond' virtual conference. The event, hosted by Maxim Group LLC, will feature discussions on the evolution of the digital asset industry and its prospects in 2025. LM Funding's CEO, Bruce M. Rodgers, will present insights on the company's operations and the anticipated regulatory changes in the crypto sector. This conference is a significant platform for industry leaders to share their perspectives on the future of digital assets. As the crypto market continues to evolve, such discussions are crucial for understanding potential regulatory impacts and investment opportunities. LM Funding's participation highlights its role in the growing digital asset ecosystem and its commitment to staying at the forefront of industry developments. Key Takeaway
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Today's Technical Analysis
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Sell | ULTOSC Sell | STOCH Sell |
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Sell | ULTOSC Sell | STOCH Sell |
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Hold | ULTOSC Sell | STOCH Sell |
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Sell | ULTOSC Sell | STOCH Hold |
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Technical Indicator Information
Relative Strength Index (RSI) | Period: 14 days | Overvalued threshold: 70 | Undervalued threshold: 30
Money Flow Index (MFI) | Period: 14 days | Overvalued threshold: 80 | Undervalued threshold: 20
Williams Percent Range (WillR) | Period: 14 days | Overvalued threshold: -20 | Undervalued threshold: -80
Aroon Oscillator (AO) | Period: 14 days | Overvalued threshold: 75 | Undervalued threshold: -75
Moving Average Convergence/Divergence (MACD) | Period: 26/12/9 days | Overvalued threshold: MACD crosses below MACD Signal | Undervalued threshold: MACD crosses above MACD Signal
Stochastic Oscillator (STOCH) | Period: 14/3/3 days | Overvalued threshold: %K crosses below %D above 80 | Undervalued threshold: %K crosses above %D below 20
Commodity Channel Index (CCI) | Period: 20 days | Overvalued threshold: 100 | Undervalued threshold: -100
Bollinger Bands (BBANDS) | Period: 20 days | Overvalued threshold: price >= upper band | Undervalued threshold: price <= lower band
Parabolic Stop and Reverse (SAR) | Period: variable 50 - 100 days | Overvalued threshold: SAR crosses above price | Undervalued threshold: SAR crosses below price
Triple Exponential Average (TRIX) | Period: 15 days | Overvalued threshold: TRIX crosses below 0 | Undervalued threshold: TRIX crosses above 0
Ultimate Oscillator (ULTOSC) | Period: 28/14/7 days | Overvalued threshold: 70 | Undervalued threshold: 30
Directional Movement Index (DMI) | Period: 14 days | Overvalued threshold: PlusDI crosses below MinusDI | Undervalued threshold: PlusDI crosses above MinusDI
Average Directional Index (ADX) | Period: variable 14 days | Requirement: >= 25
Analysis is only performed on securities with market caps in excess of $100 million and with daily trade volume in excess of $50 million.
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