Good morning, Coin Discoverers!

CRYPTO

• BTC: $56,945.50(-1.14%)YTD (+28.68%)

• ETH: $2,355.25(-1.33%)YTD (+0.82%)

• BNB: $514.16(-0.34%)YTD (+64.08%)

*Crypto numbers as of 5:00 am EST on September 11th

Trump-Harris Debate Uncertainty Weighs on Stocks and Crypto: QCP Capital

Uncertainty around tonight's Trump-Harris debate is impacting both U.S. equities and the cryptocurrency market, according to QCP Capital analysts. They note increased volatility as traders brace for potential market shifts.

The options market suggests a price swing of over 3.3%, indicating heightened near-term risk. This reflects broader market anxiety as investors await clarity from the debate.

Ex-Alameda CEO Caroline Ellison Faces Sentencing on Sept. 24 After FTX Scandal

Caroline Ellison, former co-CEO of Alameda, pleaded guilty in December 2022 after the FTX collapse, which led to billions in consumer losses. Her cooperation is seen as crucial in the investigation surrounding the scandal.

On Monday, Ellison's lawyer requested the court to redact certain details about her living situation, citing concerns for her safety. The request includes withholding names and sensitive information that could potentially expose her to risk.

SEC Hits Crypto Industry with Over $7.4 Billion in Fines and Penalties

The SEC has imposed $7.4 billion in fines on the crypto industry since 2013, according to a study by Social Capital Markets. These penalties highlight the growing regulatory pressure on the sector.

2023 marked the largest fines to date, driven primarily by a massive $4.47 billion penalty against Terraform Labs. This underscores the SEC's increasing crackdown on crypto firms violating regulations.

PayPal and Venmo Introduce ENS for Seamless Crypto Payments

ENS, a decentralized naming system on the Ethereum blockchain, converts complex crypto addresses into easy-to-read names like "username.eth." This feature, now available to U.S. users, aims to simplify and enhance the security of crypto transactions.

According to ENS Labs, this update will make it easier for new users to engage with decentralized finance (DeFi) without requiring advanced crypto knowledge. The integration is designed to boost accessibility and user-friendliness in the crypto space.

STOCKS

• DOW: 40,736.53(-0.23%)

• S&P: 5,495.52(+0.45%)

• NASDAQ: 17,025.88(+0.81%)

*Stock numbers as of market close on September 10th

TC Energy’s C$1B Pipeline Stake Sale to Indigenous Communities Delayed

TC Energy's C$1 billion ($736.92 million) sale of a minority stake in its Canadian natural gas pipeline system to a consortium of Indigenous communities has been postponed due to issues with transaction structuring, the company announced on Tuesday.

Earlier this year, TC Energy planned to sell a 5.34% stake in its NGTL system and Foothills assets to an Indigenous-owned investment partnership. This sale was intended to help reduce the company's debt and fund new investments.

UPS Acquires Germany's Frigo-Trans for Healthcare Logistics

UPS announced on Tuesday that it will acquire Germany-based healthcare logistics firm Frigo-Trans, aiming to enhance its cold-chain facilities in Europe. The terms of the deal were not disclosed.

Frigo-Trans offers temperature-controlled warehousing, freight forwarding, and a comprehensive cold chain transportation solution across Europe. As part of the acquisition, UPS will also purchase Frigo-Trans' sister company, BPL. The transaction is anticipated to be completed by the first quarter of 2025.

REAL ESTATE

• 15-year: 5.62%

• 30-year: 6.22%

*Mortage rates via Mortgage News Daily

VOE, Subservicing, DPA, HFA, Warehouse Products

New loan programs occasionally emerge, requiring lenders to ensure proper implementation. While invention itself might not be the focus, adapting business models and staying attuned to industry trends are crucial.

At The Mortgage Collaborative’s Denver event, key topics include regulatory and examiner activities, using data for profitability and growth, digital marketing compliance, recruitment and retention, the effects of homeowner’s insurance changes on lending, and managing compliant appraisals. The event emphasizes both practical adjustments and advocacy in the mortgage industry.

TECH

US and UK Spy Chiefs Leverage Generative AI for Intelligence Ops

CIA Director Bill Burns and MI6 Chief Richard Moore revealed how their agencies are utilizing AI to address evolving global threats, underscoring the growing importance of AI in intelligence operations.

In a joint op-ed for the Financial Times, they shared that both agencies are employing generative AI to process vast amounts of intelligence data, boosting their ability to analyze and respond to modern challenges.

QUICK RECAP

#1. Jabil (JBL.N) will invest 20 billion rupees ($238.2 million) in a new Tamil Nadu manufacturing plant.

#2. U.S. lender NBT Bancorp will acquire Evans Bancorp for $236 million, expanding its presence in western New York.

#3. Gefran (GFRN.MI) aims to acquire German and North American peers with €10-20 million ($11.04-$22.09 million) in revenue.

#4. Hewlett Packard Enterprise (HPE) shares fell 6.4% after announcing a $1.35 billion stock offering for Juniper Networks acquisition.

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