Good morning, Coin Discoverers!

CRYPTO

• BTC: $60,694.40(+0.14%)YTD (+37.40%)

• ETH: $2,696.44(-0.20%)YTD (+14.61)

• BNB: $523.06(-0.24%)YTD (+66.63%)

*Crypto numbers as of 5:00 am EST on August 14th

BitGo wallet potentially transfers $2 billion in Mt. Gox bitcoin assets

According to Arkham Intelligence, a wallet likely associated with BitGo, which had received over $2 billion in Mt. Gox bitcoin, has now transferred the majority of those funds to a different wallet.

The data firm reported that a wallet, which received $2.19 billion in bitcoin from Mt. Gox, has just initiated test transactions. They believe this wallet, bc1q26, is likely linked to BitGo, the fifth and final exchange collaborating with the Mt. Gox Trustee to distribute funds to creditors. Could this signal an imminent distribution to Mt. Gox creditors?

Coinbase set to launch cryptocurrency services in Hawaii

Coinbase has started providing cryptocurrency services in Hawaii, allowing residents to buy, sell, manage, and stake crypto assets, as well as send funds internationally through the platform.

We are officially entering the Hawaii market following new regulations introduced by the Hawaii Department of Commerce and Consumer Affairs Division of Financial Institutions, which offer clearer guidelines for cryptocurrency companies," Coinbase announced in a release. In July, Coinbase facilitated nearly $64 billion in crypto trading volume.

UNFK Awards Artists $10,000 for 'Community Prank' Satirizing Gary Gensler

The meme-driven movement for change, UNFK, has distributed $10,000 in SOL tokens to artists as part of its inaugural “community unlock,” which followed a recent meme competition that humorously targeted U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler.

The "community prank" competition awarded $10,000 in prizes for memes that featured the hashtag #FireGensler and humorously "gave Gensler the finger." Judged by NFT collector Cozomo de’ Medici, the event attracted such a high level of participation that it flooded the hashtag's search results on Twitter.

Pi42 Exchange Asserts It Is ‘Safer’ Than WazirX, Despite Both Sharing the Same Co-founder

Following the Rs 2000 crore hack of the WazirX crypto exchange, Avinash Shekhar, co-founder of another Indian exchange, Pi42, asserted on Tuesday that Pi42 is comparatively "safer" than WazirX. However, investors quickly noted that both exchanges share the same co-founder, Nischal Shetty.

Angry WazirX investors were quick to criticize the irony of the situation, pointing out the contradictory claims of safety between two exchanges that share the same co-founder, Nischal Shetty. They questioned how one exchange could claim to be "safer" than the other when both are under the guidance of the same co-founder.

STOCKS

• DOW: 39,765.64(+1.04%)

• S&P: 5,434.43(+1.68%)

• NASDAQ: 17,187.60(+2.43%) 

*Stock numbers as of market close on August 13th

Blackstone considers selling its $2.6 billion events division

Blackstone Group (BX.N) is exploring various options for Clarion Events, including a potential sale that could value the business at up to £2 billion ($2.6 billion).

In recent months, the U.S. buyout group has engaged in informal discussions with private equity firms such as CVC (CVC.AS) and KKR (KKR.N), which might be interested in acquiring the London-based business, according to sources who spoke on condition of anonymity.

India's L&T Semiconductor is set to sign its first clients by September

India's L&T Semiconductor Technologies plans to finalize contracts with six automobile companies by the end of September, marking them as its first clients, the company's CEO announced on Tuesday.

The contracts, totaling $150 million annually, will be signed by L&T Semiconductor Technologies, the chip-design division of India's largest infrastructure firm, Larsen and Toubro (LART.NS). Established in November 2023 with a $100 million investment from its parent company, the division is not yet generating revenue.

REAL ESTATE

• 15-year: 5.98%

• 30-year: 6.52%

*Mortage rates via Mortgage News Daily

LOS, Warehouse, Servicing, and Borrower Service Tools; Webinars and Events; M&A Updates; 1099 vs. W-2

"I ordered a book titled 'How to Scam People Online' two months ago, and it still hasn't arrived." To start today's commentary, let's discuss some key lending topics. On the secondary marketing front, current issues include buybacks, Freddie Mac's second mortgage program, mandatory versus best efforts spread, and the demand for long-term locks by loan officers (LOs).

In the primary markets, the debate over whether LOs should be classified as "1099 employees" continues to generate discussion, particularly among LOs researching their own states. Compliance professionals are often faced with the challenge of addressing these queries, with LOs frequently demanding evidence that such classifications are prohibited.

TECH

Google introduces new AI-powered phones and gadgets

On Tuesday, Alphabet’s (GOOGL.O) Google launched a new range of Pixel smartphones featuring enhanced artificial intelligence integration as it advances its AI hardware efforts.

The event at Alphabet’s headquarters in Mountain View, California, breaks Google's tradition of unveiling new Pixel smartphones, which have historically been announced in autumn since the flagship’s debut in October 2016.

QUICK RECAP

#1. British homebuilder Bellway (BWY.L) unexpectedly withdrew its £720 million ($921 million) bid for Crest Nicholson (CRST.L), causing a 20% drop in Crest's shares.

#2. Orora Ltd (ORA.AX) shares surged over 15% after rejecting a A$3.42 billion ($2.25 billion) takeover bid.

#3. State Bank of India (SBI) aims to sell its 24% stake in Yes Bank, valued at ₹184.2 billion ($2.2 billion), by March.

#4. Carlyle Group (CG.O) will acquire Baxter’s Vantive unit for $3.8 billion, aiding Baxter’s $13.8 billion debt reduction.

#5. Russia's central bank revoked American Express Co's (AXP.N) Russian license after its subsidiary filed for voluntary liquidation.