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Fastest Breaking Markets Updates Crypto • Finance • Technology • War
*U.S. Unemployment Rate 4.3%, Exp. 4.1%, Prev. 4.1% ⚠️
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CZ is back ?
Using Twitter from Jail ?
Account hacked ?
CZ out of jail ?
APPLE Earnings:
*REV. $85.78B, EST. $84.46B
*IPHONE REVENUE $39.30B, EST. $38.95B
*SERVICE REV. $24.21B, EST. $23.96B
*EPS $1.4, EST. $1.35
Coinbase earnings Q2, 2024
COINBASE 2Q REV. $1.45B, EST. $1.39B
COINBASE 2Q TRANSACTION REV. $780.9M, EST. $745.1M
🚨 U.S. prepares to counter Iranian attack on Israel within days: AXIOS
The Biden administration is convinced Iran is going to attack Israel.
U.S. officials say they expect any Iranian retaliation to be from the same playbook as their Apr. 13 attack on Israel — but potentially larger in scope — and it could also involve the Lebanese Hezbollah.
*Earlier CNN reported that "Hezbollah says response to Beirut strike will go beyond border skirmishes, but stops short of declaring war"
POWELL: 2Q INFLATION READINGS HAVE ADDED TO OUR CONFIDENCE
POWELL: IF ECONOMY REMAINS SOLID, WILL HOLD RATES AS NEEDED
POWELL: IF SEE INFLATION MOVING DOWN QUICKLY OR IN LINE WITH EXPECTATIONS, GROWTH REASONABLY STRONG AND LABOR MARKET REMAINS CONSISTENT WITH CURRENT CONDITIONS, A RATE CUT COULD BE ON TABLE IN SEPT
POWELL: WE GET A LOT OF DATA BETWEEN NOW AND SEPTEMBER
POWELL: THERE WAS A REAL DISCUSSION ABOUT THE CASE FOR REDUCING RATES AT THIS MEETING
POWELL: RATE CUT TIME IS APPROACHING AND IF WE DO GET THE DATA THAT WE HOPE WE GET THEN RATE CUT COULD BE ON TABLE AT THE SEPTEMBER MEETING
POWELL: 50 BPS CUT NOT SOMETHING WE'RE THINKING ABOUT NOW
MtGox moving 47k BTC
> 33k BTC to MtGox cold Wallet
> 13k BTC to new address
🚨 LOUD BLAST HEARD IN LEBANON’S CAPITAL BEIRUT: REUTERS WITNESS || BBC
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SEC vs Binance
Acc. to court documents:
The SEC intends to seek leave to amend its complaint, particularly regarding "Third Party Crypto Asset Securities." (doc doesn't not explicitly say SEC seeks to no longer prove tokens securities)
> Doc says that the amendment would "obviate the need for the Court to issue a ruling as to the sufficiency of the allegations as to those tokens at this time."
U.S Gov moving again these 30k BTC to other addresses
> 10k BTC to bc1ql
> 19.8k BTC to bc1qn
Arkham believe this represents a 10k BTC deposit to an institutional custody/service.
> These txns maybe related to U.S. Marshals and Coinbase partnership: James Seyffart and other ct folks
Exclusive: BlackRock's Samara cohen: No Solana ETF in the near term
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WazirX asks Binance for help after $230M hack. Wants to repay affected users. Binance holds $80M in WRX tokens and controls WazirX extra income: moneycontrol
Source: Their legal dispute is still ongoing. There are components of WazirX’s business which are still under Binance’s control, including the revenue -- the surplus of it. Even its WRX token is under their control. So they have reach out to Binance and the talks are on but at early stages—They are in a sandwich situation right now.
Furthermore, the wallets holding locked and released WRX tokens are also managed and controlled by Binance, including the release of such tokens based on the WRX Release Schedule.
Earlier: WazirX to ‘socialize’ $230 million security breach loss among customers: TechCrunch
Sen. Cynthia Lummis announces bill to buy 1 million bitcoin.
Implement a 1-million-unit Bitcoin purchase program over a set period of time to acquire a total stake of approximately 5% of total Bitcoin supply: link
NASDAQ 100 DOWN 10% FROM JULY HIGH, SET TO ENTER CORRECTION
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> Harris campaign Raised $310M in July (in 2 weeks actually)—the best fundraising month in presidential history—Cash On Hand: $377M
> Trump campaign Raised $139M in July—Cash On Hand: $327M
MicroStrategy Announces Second Quarter 2024 Financial Results:
> 12,222 bitcoins acquired since the beginning of Q2 for $805.2 million, or $65,882 per bitcoin:
> 226,500 bitcoin holdings at a total cost of $8.3 billion, or $36,821 per bitcoin, as of July 31, 2024
> Subscription Services Revenues of $24.1M, up 21% year-over-year
> Q2 income: -$102.6M (2024) vs +$22.2M (2023)
🚨Iran’s supreme leader, Ayatollah Ali Khamenei, has issued an order for Iran to strike Israel directly, in retaliation for the killing in Tehran of Hamas’s leader, Ismail Haniyeh, according to three Iranian officials briefed on the order: NYT
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FOMC statement ^
> Inflation has been downgraded from “elevated” to “somewhat elevated”
> Job gains changed from "strong" to "moderated"
FED REPEATS WAITING FOR GREATER CONFIDENCE ON INFLATION TO CUT
FOMC in 50 minutes:
> Fed is expected to leave interest rates unchanged.
> Market fully priced in for Sept cut with 100% probability.
> Market looking for lines like “further progress in inflation" or "gained some additional / greater confidence that inflation is moving to 2% target" in FOMC statement or Powell's press conference for a potential rate cut in Sept. confirmation/greater confidence
Microsoft Earnings:
*REV. $64.7B, EST. $64.52B
*CLOUD REV. $36.8B, EST. $36.84B
*INTELLIGENT CLOUD REV. $28.52B, EST. $28.72B
*EPS $2.95
> Microsoft down 7%
> Nvidia down 2%
AMD Earnings 2Q:
*REV. $5.8B, EST. $5.73B
*CAPEX $154M, EST. $127.1M
*SEES 3Q REV. $6.4B TO $7B, EST. $6.62B
> AMD +4%
Russia races to Legalize Crypto and crypto mining as Sanctions Weigh On Companies: BBG
> Putin: Cryptocurrencies “are increasingly used in the world as a means of payment in international settlements".
> Under the new legislation, crypto will be regulated in the same way as foreign currency in Russia.
> El Salvador has reportedly suggested using digital assets like Bitcoin for trade with Russia to circumvent the extensive economic sanctions imposed on Russia: cryptoslate
> Russian Central Bank Governor: first international payments in crypto possible before year-end.
BlackRock CIO of ETF, Samara cohen on ETHA and Solana ETF
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CNBC on Trump's Strategic National Bitcoin Stockpile Promise
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The Week Ahead: July- Aug
Big Week: ETF flows, Rates, GDP, inflation data, jobs report, earnings coming
Macro:
> Spain, Germany, France, Italy and Eurozone Q2 GDP on 30
> Fed Interest Rate Decision on 31 [forecast: no change in rates]
> BoJ Interest Rate Decision on 31 [forecast: rate hike]
> BoE Interest Rate Decision on Aug 1 [forecast: rate cut/no change]
> U.S. Nonfarm payrolls on Aug 2 [forecast: 178k+]
> U.S. Unemployment Rate on Aug 2 [forecast: 4.1%]
Earnings:
> AMD and Microsoft on 30
> Meta on 31
> Amazon, Apple, MicroStrategy and Coinbase on Aug 1
Crypto:
> Vitalik Buterin speaks at EDCON 2024 on July 29
> Eclipse Mainnet this week [it's Ethereum’s first SVM L2]
Unlocks:
> $ZETA: 19%: $33M on Aug 1
> $W: 33%: $170M on Aug 3
*HQ image and charts in comments 👇
Trump: if I am elected, it will be the policy of my administration to keep 100% of all the Bitcoin the U.S. government currently holds or acquires in the future. This will serve, in effect, as the core of a Strategic National Bitcoin Stockpile.
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