Good morning. President-elect Donald Trump—once a cryptocurrency skeptic and now a vocal supporter of the industry—was scheduled to meet with the CEO of cryptocurrency exchange platform Coinbase Monday, according to people familiar with the matter. The duo is expected to discuss personnel appointments for his second administration.

The meeting between Trump and Brian Armstrong marks the first time the two have met since Election Day and comes as Trump continues to fill out his cabinet and other senior posts.

• Crypto's role in regulation: While speaking at the annual bitcoin conference earlier this year, Trump said he would appoint a bitcoin and crypto presidential advisory council tasked with designing transparent regulatory guidance if he won the presidential race.
   
• Coinbase weighs in: Since Trump’s victory, Armstrong has already publicly weighed in on who should be the next leader of the Securities and Exchange Commission. Armstrong said on X he believes Hester Peirce, a Trump SEC commissioner, is the "best choice” to chair the SEC. The Securities and Exchange Commission and Coinbase are currently facing off in court in multiple cases that touch on that agency's power to regulate the crypto company. 
   
• Political donations: Coinbase doled out over $100 million to a variety of political action committees ahead of the election, according to Federal Election Commission filings and data from the nonpartisan OpenSecrets.
   
• Crypto holdings: President-elect Donald Trump and Vice President-elect JD Vance are known to have substantial crypto holdings, and both have seen significant gains as prices for the assets have surged post-election.

Trump picks Brendan Carr as FCC chair. He vows to challenge a Big Tech cartel.

President-elect Donald Trump picked Brendan Carr, a career telecommunications lawyer and regulator, to lead the Federal Communications Commission as the agency’s next chairman.

Carr is the senior Republican on the five-member commission and has championed many of Trump’s causes. One of the authors of the Project 2025 policy paper, he has outlined plans to remove regulations conservatives consider overbearing or outdated. He will also wrestle with looming budget crunches and court rulings that threaten to erode the federal agency’s overall authority. 

• The Biden administration’s top antitrust officials plan to take more shots at the tech industry before leaving office, in a race to cap four years of aggressive enforcement.
• BIT Mining will pay a $10 million penalty to the U.S. Justice Department connected to allegations the cryptocurrency-mining company engaged in a widespread bribery scheme.
• The U.S. Treasury Department has finalized a rule that will allow the country's foreign investment watchdog to demand more information from entities seeking to make purchases and levy stronger penalties, a move that comes amid heightened concern about Chinese purchases. The rule change was first proposed in April.
• WSJ Pro talks to Sherry Madera, the chief executive of CDP, the not-for-profit charity formerly known as the Carbon Disclosure Project, who told Sustainable Business's Yusuf Khan that more companies are reporting on climate than ever, despite a pushback against ESG.

As Beijing threatens, Taiwan looks nervously at Trump.

Donald Trump has given Taiwan more than a few reasons to be anxious.

The president-elect pressed Taiwan during his election campaign to spend significantly more to defend against the growing threat of attack by China. He accused Taiwan’s chip makers—a lifeblood industry accounting for 15% of gross domestic product—of stealing American jobs. He brought into his inner circle the billionaire Elon Musk, who has mocked Taiwan’s determination to maintain its autonomy. And he suggested that his own reputation is enough to deter Chinese leader Xi Jinping from invading.

At the same time, Beijing launched menacing military exercises, raising a pressing question for the island: What would Trump do if China tried to invade Taiwan?

Auto industry braces for whiplash as Trump takes power.

President-elect Donald Trump will enter the White House with campaign promises that aim to reshape the American auto industry, such as vowing to attack Biden-era electric-vehicle policies and layer on tariffs to expand factory work in the U.S.

A wild card overshadowing all of the potential change is Tesla Chief Executive Elon Musk, who emerged as a top Trump adviser and donor during the campaign and was picked by the president-elect to help lead an effort to cut government spending and restructure federal agencies. While some of Musk’s interests overlap with traditional automakers, they also diverge in significant ways.

• An airstrike killed five people in central Beirut, and rockets fired from Lebanon killed one person in northern Israel and caused several injuries in a Tel Aviv suburb, amid a continuing U.S. push for a cease-fire deal between Israel and Hezbollah militants.
   
• The Biden administration’s authorization for Ukraine to strike deeper into Russia with U.S.-supplied missiles will inhibit Moscow’s supply of troops and equipment to the front lines—but critics say the decision is too late for a big impact on the battlefield.
   
• U.S. President-elect Donald Trump’s proposed tariffs on goods could upend international trade and threaten higher inflationary pressures, the president of Germany’s central bank said Monday.
   
• The eurozone’s trade surplus climbed in September on year, with exports to the U.S. growing as the threat of tariffs proposed by U.S. President-elect Donald Trump looms large.

• Biden administration officials, in avoiding the missteps that followed the 2008-09 financial crisis, made new mistakes that led to political defeat.
   
• Spirit Airlines has filed for bankruptcy protection after struggling with mounting losses and facing looming debt maturities.
   
• After defeating Donald Trump four years ago, President Biden declared at his first summit “America is back.” Now as he attends a final pair of gatherings with world leaders in South America, Trump is back and Biden is fading into the background.
   
• Under Donald Trump, Republicans have drawn swaths of working-class voters away from the Democratic Party. That presents the president-elect with the challenge of how, if at all, to reflect that new reality in his labor policies.
   
• Argentine President Javier Milei is a star among President-elect Donald Trump’s closest aides, a self-described anarcho-capitalist with wild hair and a bromance with Elon Musk. Now, Milei has a big ask—billions of dollars in loans to jump-start a capitalist makeover of his country.

Follow us on X at @WSJRisk. Follow Risk & Compliance editor David Smagalla @DSmagalla_DJ and reporters Mengqi Sun @_MengqiSun, Dylan Tokar @dgtokar and Richard Vanderford @VanderfordRich.

You can reach us by replying to any newsletter, or email David at david.smagalla@wsj.com.