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Congress Pushes Crypto Into 401(k)s

The US is moving to relax longstanding constraints on digital-asset products, most immediately in retirement plans, after House members urged the SEC to implement President Donald Trump’s order on opening the $12.5 trillion 401(k) market to crypto.

The SEC reportedly plans to “create new rules to allow crypto companies to launch products in the US without having to comply with previous regulatory requirements,” describing the mechanism as an “innovation exemption.”

Separately, members of the House Financial Services Committee sent a letter to SEC Chairman Paul Atkins endorsing Trump’s executive order directing the Labor Secretary to consult with the commission to “facilitate access to alternative assets for participant-directed defined-contribution retirement savings plans.”

You can read more on the matter here.

What’s going on?

• Oil Executives Warn of ‘Twilight of Shale’ as Industry Faces Crisis (theDeepDive)

• Canada signs ‘game-changing’ trade deal with Indonesia, new defence pact (Global)

• America First? US Signals $20B Line, Gov’t Debt Buyout For Argentina (theDeepDive)

• Job vacancy rate tumbles to eight-year low as openings dry up (Globe)

• US Antimony Wins $245M Pentagon Contract For National Defense Reserve (theDeepDive)

• White House to Pursue Mass Firings if Government Shuts Down (WSJ)

• Russia Weighs Extended Fuel Export Curbs as Refinery Attacks Mount (theDeepDive)

• Canada may face ‘punitive measures’ for recognizing Palestinian state: U.S. Republicans (NP)

• Beijing Woos Central Banks In Its Gold Reserves Custodial Push (theDeepDive)

What’s the latest?

• Amazon: Amazon will pay $2.5 billion to settle FTC allegations it tricked users into unwanted Prime memberships. The deal includes a $1 billion civil penalty and $1.5 billion in refunds to an estimated 35 million customers. The FTC calls it a major win, though the fine is just 0.1% of Amazon’s $2.4T market cap. Amazon admitted no wrongdoing and still faces a separate antitrust trial in 2027.

• Markets: Wall Street is heading for a three-day losing streak, with the S&P 500 down 0.4%, the Dow off 76 points (0.2%), and the Nasdaq slipping 0.3%. Stronger-than-expected U.S. economic data, including lower jobless claims and faster GDP growth, raised doubts about multiple Fed rate cuts. Treasury yields rose, with the 10-year at 4.18% and the 2-year climbing more sharply. CarMax plunged 19.8%, while IBM gained 5.5% on quantum computing progress with HSBC.

• Politics: Canada will cut back door-to-door letter mail delivery, extending average delivery times from 3–4 days to 3–7 days. The government accepted all recommendations from a commission report, including adding more community mailboxesand allowing Canada Post to hire part-time weekend staff. Officials say declining letter volumes and weak parcel market share make the changes necessary to stabilize finances.

• Real Estate : A Royal LePage survey shows that despite falling interest rates and softer housing prices, most first-time homebuyers are delaying purchases until at least next year due to economic uncertainty. Only 13% of adults plan to buy within two years. About 53% expect to put 20% down, while 39% will need mortgage insurance. Typical budgets fall between $500K–$750K. Roughly half will receive no family help, though many others expect gifts, loans, or co-signing support. CMHC data meanwhile shows condo sales are slowing, inventories rising, and some investors facing distress.

• Hudson’s Bay: An Ontario court has approved a November auction of 4,400 Hudson’s Bay items, including 1,700 art pieces and 2,700 artifacts. The sale, hosted by Heffel Gallery, will run online from Nov. 12 and in-person in Toronto around Nov. 19. Interest has come from Indigenous groups, museums, universities, and private collectors. 24 artifacts of Indigenous origin were removed and will be returned or donated.

Barrick Gold’s Fourmile PEA

The stock market and stuff

• US House Urges SEC Loosen Laws To Open 401k Market To Crypto (theDeepDive)

• Air Canada Slashes Guidance After Labour Disruptions (theDeepDive)

• Dollarama’s stock is surging. The cost of everything may be the reason (Global)

• BMO Explores Sale of US Branches Worth $6 Billion in Deposits (theDeepDive)

• Freeport Declares Force Majeure On Indonesia Copper Mine, Cuts Outlook By 35% (theDeepDive)

In the juniors

• Gunnison Copper Completes First Copper Cathode Sales From Johnson Creek Mine (theDeepDive)

• Tectonic Metals Announces Phase Two Drilling at Flat Gold Project, Alaska (JMN)

• 1911 Gold Begins 25,000 Metre Underground Drill Program At True North (theDeepDive)

FULL DISCLOSURE: Spirit Blockchain is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Spirit Blockchain. The author has been compensated to cover Spirit Blockchain on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.