Good morning!
* Remember Trump's Words: “Bitcoin and cryptocurrencies will soar like never before, even surpassing your expectations.”
* Trump IS GOING TO SIGN an executive order to allow 401(k) retirement savings plans to INVEST IN Bitcoin and Crypto.
Americans have $8.7 trillion in 401(k) retirement accounts.
* The odds of a rate cut in September have skyrocketed above 90%.
* Another DATA was released yesterday that will lead us to RATE CUTS.
The US labor market is sending increasingly alarming signals.
New data shows that continuing unemployment claims rose to 1.974 million, the highest level since 2021, and above expectations (1.950M).
Additionally, initial claims rose to 226,000, also exceeding expectations.
* Tether has acquired a minority stake in the Spanish cryptocurrency platform Bit2Me and is leading its £30 million funding round.
* The Kremlin confirmed that Putin and Trump will meet soon at a diplomatic summit.
The expectation of a ceasefire in Ukraine is boosting risk appetite.
Historically, any sign of military de-escalation tends to benefit stocks and cryptocurrencies.
* Chainlink announced the launch of the "Chainlink Reserve," a strategic reserve fund of LINK to accumulate LINK tokens.
* Binance has announced that European users can now withdraw their cryptocurrencies or euro balances directly to their Mastercard debit or credit cards with nearly instant settlement.
* According to Reuters, Ripple will acquire the stablecoin payment platform Rail for $200 million.
* The US Secretary of Commerce indicated that they might extend the TARIFF PAUSE to China for another 90 days.
This would ease tensions in the economic war with Asia and makes it clear that the US wants an AGREEMENT with China.
* Apple rose after announcing a $100 billion investment in the US.
This would exempt her from the new 100% tariff on chips proposed by Trump.
And it reinforces the trend of bringing production to the US, something that Wall Street currently rewards with gains.
* Trump will sign an EXECUTIVE ORDER against bank discrimination towards crypto, religion, and political orientation.
* The CEO of Coinbase explains why Bitcoin is a BETTER MONEY than gold.
Scarcer, more portable, more transparent, and now with increasing GLOBAL adoption.
* On August 6 (ET), US spot Bitcoin ETFs recorded a total net inflow of $91.55 million.
* Spot Ethereum ETFs recorded a total net inflow of $35.12 million.
* The TST token suffered a sharp drop on Binance this morning, plummeting from $0.04960 to a low of $0.01547 in 15 minutes.
* The US Housing Director accuses Jerome Powell: “The FED chair is harming the housing market.”
Meanwhile, the Bank of England cuts its interest rate by 0.25%. The same is expected from the FED in September.
* Parataxis Holdings announced a merger with SilverBox Corp IV SPAC to raise up to $640 million for a Bitcoin treasury company that will be listed on the New York Stock Exchange.
