Crypto rises to another record on Trump optimism

Good morning Bitcoin surges above $82,000 as Trump victory boosts crypto assets. Hedge funds betting against Tesla got burned. And Lululemon's yoga pants are a huge hit in China. Listen to the day's top stories.

As another era of Donald Trump dawnsCryptocurrencies are hot. Bitcoin rose above $82,000 for the first time, driven by the president-elect's embrace of digital assets and the prospect of pro-crypto lawmakers in Congress. Dogecoin has gained more than 50% in the last five days. Not to miss out, former Millennium Management and Pimco executives are launching a digital assets advisory firm. US stock futures also rose as Trump's victory further increased demand for stocks.

Trump begins to fill key roles in his new administration. He chose former immigration chief Tom Homan as “border czar” and will appoint New York Congresswoman Elise Stefanik as U.S. ambassador to the United Nations. He is also demanding that the next Republican leader in the Senate allow him to make appointments during recess, bypassing the chamber. Meanwhile, the Washington Post reported that Trump ordered Vladimir Putin last week not to escalate the war in Ukraine, which Russia described as “pure fiction.”

“Trifecta” control. Republicans are on the verge of securing sweeping power with control of both chambers of Congress and the presidency. The party needs five more seats for a House majority, and there are 19 races still in play. You can find the latest numbers in our election tracker.