od morning, Coin Discoverers!

CRYPTO

• BTC: $67,072.40(-0.14%)YTD (+48.68%)

• ETH: $3,454.25(-1.64%)YTD (+46.82%)

• BNB: $594.16 (+1.70%)YTD (+89.28%)

*Crypto numbers as of 5:00 am EST on August 3th

Bitcoin Funds Lose $319 Million as Investors Rush to Short Positions

Last week saw a swift withdrawal of funds from Bitcoin exchange-traded funds (ETFs) as investors increasingly turned bearish on the cryptocurrency. As the number of people betting against Bitcoin surged, $319 million was pulled from major funds managed by Fidelity, ARK Invest, and other leading Wall Street firms, according to a Monday report by asset manager CoinShares.

In contrast, short Bitcoin investment products, designed for those betting on a decline in Bitcoin's price, attracted $4.4 million—the largest inflow since March. This shift highlights the growing sentiment among investors that the price of the world’s biggest digital currency is poised to fall.

Corey Caplan, co-founder of Dolomite, Joins Trump-Backed World Liberty

Corey Caplan, co-founder of Dolomite, has been appointed as an advisor for the Trump-backed initiative, World Liberty Financial. His expertise is expected to play a key role in the project's development.

The project has indicated that additional contributors will be announced in the coming days, signaling a growing team behind this financial endeavor.

QCP Capital Emphasizes Ether's 'Notable' Underperformance

Ether significantly underperformed compared to Bitcoin, dropping 22.2% while Bitcoin saw a smaller decline of 8.6%. This sharp contrast highlights Ether's struggle in the market during the month.

Looking ahead, QCP Capital analysts warn that September could bring further downward trends for major cryptocurrencies if historical seasonal patterns hold true. Investors may face more bearish movements in the coming weeks.

Daily Cipher Code and Combo Card for Hamster Kombat

Hamster Kombat has rapidly captured the interest of the online gaming community. This play-to-earn game combines fast-paced combat with quirky, hamster-themed action, providing players with daily chances to earn valuable in-game rewards.

In the game, players use the Telegram chat service to collect, train, and battle virtual hamsters. Its swift surge in popularity, particularly among Telegram’s crypto enthusiasts, has drawn in millions of players from around the globe.

STOCKS

• DOW: 41,563.53(+0.55%)

• S&P: 5,645.00 (+1.01%)

• NASDAQ: 17,713.94 (+1.13%) 

*Stock numbers as of market close on August 30th

TotalEnergies Expands Partnership with Adani Green through $444 Million Joint Venture

French oil major TotalEnergies moved forward with plans to establish a new joint venture with India's Adani Green Energy, as the Indian company's board approved a $444 million investment from Total. This step advances a partnership initially announced in September 2023, which was valued at $300 million.

The joint venture will provide TotalEnergies with direct ownership of assets contributed by Adani Green, including wind and solar farms in India. This collaboration aims to enhance Total's presence in a market where coal still dominates the energy sector.

Blackstone Acquires Stake in $1.2 Billion European Logistics Fund

Private equity giant Blackstone has agreed to acquire an 80% stake in a European warehouse portfolio managed by Burstone, marking a significant move into the thriving warehouse sector driven by e-commerce growth.

The portfolio, valued at €1.1 billion ($1.2 billion), includes properties across seven countries, including Germany, France, and the Netherlands. Burstone, formerly Investec's property fund, will sell the controlling interest to Blackstone, according to a Burstone stock exchange announcement.

REAL ESTATE

• 15-year: 5.97%

• 30-year: 6.44%

*Mortage rates via Mortgage News Daily

Month-End Volatility Doesn't Affect Overall Trend

Friday brought unexpected activity to the bond market, with month-end trading introducing notable volatility that initially seemed significant. This surge in trading activity overshadowed the more subdued market movements observed earlier in the day after the PCE data release, though this calm was minimal.

In the broader context of month-end trading days, particularly those preceding a long weekend, the volatility seen on Friday was fairly typical. Looking ahead, next week is poised to be more influential in determining whether the Federal Reserve will implement a 25 or 50 basis point rate cut, which will likely drive the next major shift in the bond market.

TECH

OpenAI Reports ChatGPT's Weekly User Base Has Reached 200 Million

AI startup OpenAI announced that its chatbot, ChatGPT, now boasts over 200 million weekly active users, doubling its count from last fall. Launched in 2022, ChatGPT generates human-like responses to user prompts and had 100 million weekly users as of November, according to OpenAI CEO Sam Altman.

Additionally, OpenAI reported that 92% of Fortune 500 companies are now utilizing its products. The use of its automated API, which enables software programs to communicate with each other, has also doubled since the release of ChatGPT-4o mini in July.

QUICK RECAP

#1. A Blackstone-led consortium is close to acquiring Australian data center group AirTrunk for A$20 billion ($13.53 billion).

#2. Umar Kremlev, head of the International Boxing Association, became the new owner of Rolf, Russia's largest car dealership.

#3. Lufthansa’s CEO, Carsten Spohr, meets Portugal's government to discuss a 19.9% stake in TAP, avoiding EU approval.

#4. Germany extends trusteeship over Rosneft's German assets, including a 54.17% stake, until March 10, 2025.

#5. Lufthansa’s CEO, Carsten Spohr, meets Portugal's government to discuss a 19.9% stake in TAP, avoiding EU approval.