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Fastest Breaking Markets Updates Crypto • Finance • Technology • War
S&P 500 down 1%
Nasdaq down 2%
BTC down 3.5%
Nvidia down 6%
June CPI:
MoM: -0.1% [Est. 0.1%, Prev. 0%]
YoY: 3% [Est. 3.1%, Prev. 3.3%]
Core MoM: 0.1% [Est. 0.2%, Prev. 0.2%]
Core YoY: 3.3% [Est. 3.4%, Prev. 3.4%]
The Week Ahead: July
Macro:
> Jerome Powell to testify before Senate and House on 9 and 10
> June CPI on 11
> Major U.S. Bank Earnings this and next week.
Crypto:
> US House might vote to overturn biden's SAB 121 veto on 9/10 july
> ETH spot ETFs are expected to be approved for trading at the end of this week or early next week
> ETHcc conference 8-11
Unlocks:
> $XAI: 71%: $65M on 9
> $APT: 2.5%: $67M on 12
> $IMX: 2%: $41M on 12
> $STRK: 4.9%: $38M on 15
The trustee (MtGox) has previously detailed that the timeline for payouts to become visible in creditors' accounts may vary depending on the exchanges': TheBlock
> Kraken is given 90 days to process payouts
> Bitstamp may take up to 60 days
> BitGo will have payouts visible within 20 days
> SBI VC Trade and Bitbank will both complete payouts within 14 days
[Yesterday] The SEC has launched a bunch of investigation into VCs for acting as securities dealers, says Ari Paul on Unchained podcast: link
And Ari believes that SEC is “absolutely right on that"
Powell: Inflation May Return To 2% Late Next Year Or The Following Year
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Major Night Headlines:
> US Marshals Service picks Coinbase to custody its assets as part of a $32.5 million contract: link
> Roaring Kitty lawsuit voluntarily dismissed by the plaintiff.
> SEC sues Silvergate Bank for securities fraud in Federal Court — Silvergate Bank didn’t adequately monitor $1 trillion in crypto transactions: link
Bank failed to adequately or automatically monitor for suspicious activity ~$1trillion in banking transactions. The Bank also failed to detect ~$9billion in suspicious transfers by FTX and its related entities.
The Week Ahead: July
Macro:
> Fed Powell Speaks on 2
> Fed Meeting Minutes on 3
> U.S. Jobs data on 5
Crypto:
> 13F Filings for BTC ETFs in July. These filings will show which institutions started, exited or added to positions during April, May and June.
> ETH ETFs are expected to be approved for trading in early july.
> AGIX and OCEAN merger into FET [Phase 1] starts from july 1.
> Mt. Gox to begin repayments starting July.
> Bitcoin 2024 Event: Nashville July 25-27 [Trump in talks to speak at the event].
Unlocks:
> $IO (8%): $23m
> $XAI (71%): $84m
ICYMI:
> Sony to Restart Japanese Crypto Exchange Whalefin
> IRS, Treasury Announce New Crypto Tax Reporting Rule For Brokers
> Stripe to add support for Base and Coinbase wallet to add Stripe’s fiat-to-crypto onramp.
> Roaring Kitty sued for securities fraud related to his recent tweets about Gamestop.
> U.S. Judge ruled that the SEC's charges against Binance for the initial coin offering and ongoing sales for BNB, BNB Vault, staking services, failure to register and fraud charges can proceed, dismissed charges tied to secondary BNB sales and Simple Earn.
Approval of spot ETH ETF S-1 forms might delay until after July 8, from previous estimate of July 2 due to holidays: Bloomberg ETF analyst
Unfort think we gonna have to push back our over/under till after holiday. July 8th the process resumes and soon after that they'll launch> Another source:
While early July is still a possibility, "it's also a possibility that it could be later in July or later in the summer,"Читать полностью…
NIKE SHARES TUMBLE 18% IN BIGGEST INTRADAY DROP SINCE 2001
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U.S. PCE May:
MoM:
> Headline 0%, Exp. 0%, Prev. 0.3%
> Core: 0.1%, Exp. 0.1%, Prev. 0.2%
YoY:
> Headline 2.6%, Exp. 2.6%, Prev. 2.7%
> Core: 2.6%, Exp. 2.6%, Prev. 2.8%
Sol Spot ETF possibility:
> SEC currently considers SOL an unregistered security and No SOL CME Futures exists.
> May depend on a new administration in the White House and SEC. Unlikely with Gary Gensler.
> Low inflows to ETH ETFs this year may indicate even lower potential for SOL ETFs.
> Timing in case: not before 2025 — If a 19b-4 filing was made today, the deadline would be around mid-March 2025: BBG etf analyst, James Seyffart
U.S GDP ANNUALIZED (QoQ) (Q1)
ACTUAL: 1.4% VS 1.3% PREVIOUS; EST. 1.4%
> U.S. INITIAL JOBLESS CLAIMS
ACTUAL: 233K VS 238K
PREVIOUS; EST. 235K
> U.S CONTINUING JOBLESS CLAIMS
ACTUAL: 1839K VS 1828K PREVIOUS; EST. 1828K
The websites associated with Squarespace could be at risk of being hacked, as two major crypto projects compound Finance and Celer Network websites got hacked.
> List of projects associated with Squarespace: link
> Avoid any interaction with them for now ⚠️
>U.S. Unemployment Rate 4.1%, Exp. 4.0%
Nonfarm Payroll:
>June 206K, Exp. 190K
>May revised from 272K, to 218K
>April revised from 165K to 108K
—Rate cut odds remain unchanged, the muted reaction after payrolls shows the market will wait for Powell speech and June CPI data next week before changing odds for September rate cut.
Hackers claimed they stole 33M cell phone numbers of users of two-factor app Authy: link
Twilio (owner of Authy) confirmed to TechCrunch that “threat actors” were able to identify the phone number of people who use Authy
If attackers are able to enumerate a list of user’s phone numbers, then those attackers can pretend to be Authy/Twilio to those users, increasing the believability in a phishing attack to that phone numberЧитать полностью…
Looks like 'German Government' has sold atleast ~3k BTC in the last 10 days
> 'German Government' still holds 44k BTC
Circle Snags First Stablecoin License Under EU's New MiCA Rules: Coindesk
USDC is Now MiCA-Compliant: Binance
Israel's Foreign Minister: Iran threatens today to destroy Israel if Israel fully responds to Hezbollah attacks from Lebanon.
> Earlier, Iran warned Israel of ‘obliterating war’ if it attacks Lebanon
SEC ALLEGES LIDO AND ROCKET POOL STAKING PROGRAMS ARE SECURITIES
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Coinbase Derivatives just filed certifications with CFTC to list US regulated futures for SHIB, LINK, AVAX, XLM, DOT: link
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The US Supreme Court has overturned the 40-year-old Chevron doctrine.
> This ruling means federal agencies no longer get special consideration when interpreting ambiguous laws.
> This is a big win for crypto and other industries that have been subject to unrestrained rulemaking from agencies like the SEC, giving more power to judges to interpret the law: EleanorTerrett
> Now, judges will substitute their own best interpretation of the law, instead of deferring to the agencies - effectively making it easier to overturn regulations that govern wide-ranging aspects of American life.
> This includes rules governing toxic chemicals, drugs and medicine, climate change, artificial intelligence, cryptocurrency and more: Zerohedge
Biden Committed to Second Debate with Donald Trump in September, No Plans to Drop Out: CNN
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Vitalik Buterin backs new blockchain 'MegaETH' as it raises $20 million at '9-figure' token valuation: TheBlock
> VCs: Dragonfly led the seed round, with Figment Capital, Robot Ventures, Big Brain Holdings and others.
> Angel investors: ETH co-founder Vitalik Buterin, ConsenSys founder Joseph Lubin, EigenLayer founder Sreeram Kannan, ETHGlobal co-founder Kartik Talwar, Helius Labs co-founder Mert Mumtaz, Santiago Santos, Hasu and Jordan Fish, aka Cobie.
VanEck just filed for the First Spot Solana ETF in the US: Filing
> Why VanEck believe SOL is a commodity like BTC, ETH: According VanEck it's also functions similarly to BTC and ETH and Decentralized in nature: More
Coinbase sues SEC, FDIC over FOIA requests, says federal regulators trying to cut out crypto: TheBlock
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