Good morning, Coin Discoverers!

CRYPTO

• BTC: $66,440.90(+0.41%)YTD (+50.41%)

• ETH: $3,329.84(+1.57%)YTD (+41.32%)

• BNB: $586.11(-0.35%)YTD (+86.72%)

*Crypto numbers as of 5:00 am EST on July 31th

Lava Network unveils its public mainnet and distributes 55 million tokens

Lava Network initiated its phased mainnet launch and began an airdrop of 55 million LAVA tokens, offering $2 million in incentives for network participants.

A modular blockchain startup is receiving support from the Filecoin Network, Starknet Foundation, Cosmos Hub, and several other previously announced partners.

The project is testing its tokenomics by implementing a high initial token supply with a capped total supply.

Dunkin' is offering free Bitcoin

The fast-food chain Dunkin' is partnering with local crypto exchange Bithumb to offer Bitcoin to its customers in South Korea through a series of promotions.

According to Dunkin's South Korean website, participants can receive Bitcoin 'coupons' redeemable for free BTC by joining promotions running from July 26 to August 8. These giveaways are part of the coffee chain's partnership with South Korean cryptocurrency exchange Bithumb.

Pixelverse and Jambo have partnered to enhance the crypto gaming experience

Jambo Technology, a leading provider of web3 mobile infrastructure, has unveiled a groundbreaking partnership with Pixelverse to transform blockchain gaming accessibility in underserved regions.

This collaboration will enable Pixelverse’s games to be instantly accessible on the JamboApp, introducing an exciting new dimension to gaming for millions of users.

The founder of BitClout has been charged with fraud by the SEC and the Justice Department

The United States Securities and Exchange Commission (SEC) has charged the founder of the decentralized social network BitClout with fraud, accusing him of misleading investors and using their funds to support a lavish lifestyle.

In a separate indictment, the U.S. Department of Justice charged Nader Al-Naji with one count of wire fraud, alleging that he defrauded investors of $3 million.

STOCKS

• DOW: 40,743.33(+0.50%)

• S&P: 5,436.44 (-0.50%) 

• NASDAQ: 17,147.42 (-1.28%)

*Stock numbers as of market close on July 31th

Lufthansa anticipates a decline in third-quarter earnings due to rising costs

Germany's flagship airline, Lufthansa (LHAG.DE), announced on Wednesday that it expects lower third-quarter earnings due to declining yields and rising unit costs. This development adds to the challenges facing European airlines, including flattening demand and delays in aircraft deliveries.

Airfares across Europe and Asia have begun to stabilize or decrease, indicating the end of a prolonged post-COVID travel surge. This shift poses a challenge for airlines already facing rising costs and limited aircraft availability.

Investors respond to the Bank of Japan's interest rate increase

The Bank of Japan announced on Wednesday that it is increasing its short-term interest rate to 0.25% and will gradually decrease the volume of bonds it purchases under its quantitative easing program.

Following a two-day policy meeting, the central bank unanimously decided to raise its policy rate. It also announced that the monthly bond purchases will be reduced to 3 trillion yen ($19.65 billion), half of the current target, by early 2026.

REAL ESTATE

• 15-year: 6.33%

• 30-year: 6.90%

*Mortage rates via Mortgage News Daily

Data and headlines create modest volatility as investors await the Fed's decision

Today, the bond market experienced two periods of modest volatility. The first occurred after the 10 a.m. JOLTS data, which showed stronger-than-expected headline figures and revisions, prompting initial selling. However, buyers quickly returned, supported by softer internal components in both the JOLTS report and the labor differential in the Consumer Confidence data.

The second wave of volatility came in the afternoon following news of a rocket attack in Beirut. This development caused bonds to stabilize near their best levels of the day. As the Fed announcement approaches, it remains a significant event on the calendar, though upcoming Wednesday morning data may still influence market movements.

TECH

CrowdStrike shares decline following a report that Delta Air plans to seek compensation for an IT outage

Shares of CrowdStrike (CRWD.O) dropped over 8% on Tuesday following a report that Delta Air Lines (DAL.N) will seek compensation from the cybersecurity firm due to a recent global IT outage that affected various industries, including airlines.

The cyber outage on July 19 resulted in over 2,200 flight cancellations, and Delta has since canceled more than 6,000 flights. The issue was traced to CrowdStrike's 'Falcon Sensor' software, which caused Microsoft Windows to crash and display a blue screen, commonly referred to as the 'Blue Screen of Death

QUICK RECAP

#1. Adidas reported a year-over-year revenue increase in North America for Q2, excluding Yeezy sales; total sales fell 8% to €1.3B ($1.51B).

#2. Just Eat Takeaway (TKWY.AS) reported a 40% rise in first-half core profit, with €203M EBITDA, and a new buyback program.

#3. HSBC Holdings (HSBA.L) pledged a $3 billion share buyback on Wednesday to boost its stock, following stable first-half profit.

#4. Egypt's Ministry of Petroleum signed two agreements totaling $340 million with Shell and Petronas to enhance oil and gas production.

#5. In Q2, U.S. oil and gas deals topped $30 billion, with notable mergers like ConocoPhillips' $22.5 billion offer.