US Envoy Travels to Moscow for Peace Talks; White House Defends Military Strike; Crypto Market Plummets

Ukraine Peace Talks and Moscow Visit

• 🇺🇸 US Special Envoy Steve Witkoff is traveling to Moscow to meet with President Vladimir Putin to discuss a potential peace plan for the war in Ukraine.
• 🤝 The talks follow negotiations between US and Ukrainian officials in Florida, with Ukrainian President Volodymyr Zelenskiy reportedly finding the latest version of the plan "better."
• ⚔️ Ahead of the talks, Putin claimed Russian troops had taken the city of Pokrovsk in Ukraine's eastern Donetsk region, a claim denied by Ukraine's Military Staff.
• 🗺️ Bloomberg News is unable to independently verify claims from either side regarding the city's status.

White House Defends Military Action

• 🚢 The White House is defending the Pentagon's handling of a September attack on an alleged drug-running boat in international waters.
• ⚖️ White House spokeswoman Karoline Leavitt confirmed two strikes on the vessel, stating the actions were lawful and conducted in self-defense amid the opioid crisis.
• ❓ Reports suggest the strike was ordered by Navy Admiral Frank Bradley, not Defense Secretary Pete Hegseth, though lawmakers are pressing for hearings.
• ⚠️ Accusations of war crimes have arisen following reports that Hegseth ordered the attack with the intent to kill everyone on board.

Cryptocurrency Market Downturn

• 📉 Almost $1 billion of leveraged crypto positions were liquidated on Monday due to a sharp drop in prices.
• 📉 Bitcoin slid as much as 8% to $83,824, and Ether dropped as much as 10% to $2,719.
• 🎢 Smaller, less liquid tokens have been hit even harder, with a MarketVector index tracking the bottom half of the largest 100 digital assets down almost 70% this year.
• ⚠️ The market downturn began after significant liquidations in early October, coinciding with threats of higher tariffs from President Trump.

Other Market and Business News

• ⚖️ Bayer shares are up in Germany as the Trump administration urges the Supreme Court to consider the company's appeal against thousands of lawsuits blaming its Roundup weed killer for causing cancer.
• 🚚 Amazon plans to test 30-minute deliveries for hundreds of household items, including fresh groceries and over-the-counter medicines, starting in Philadelphia and Seattle.
• 💸 Investor Michael Bur is betting against Tesla shares, calling them "ridiculously overvalued" and warning that Elon Musk's proposed pay package would worsen shareholder dilution.
• 🤝 Netflix is reportedly among bidders for Warner Brothers Discovery, submitting a mostly cash offer.