Good morning, Coin Discoverers!

CRYPTO

• BTC: $64,281.10(-1.66%)YTD (+45.52%)

• ETH: $3,201.21(-4.01%)YTD (+36.06%)

• BNB: $557.09 (-3.05%)YTD (+77.47%)

*Crypto numbers as of 5:00 am EST on July 25th

Ethereum's short-term price potential is lower than that of Bitcoin

Options traders are currently expecting more significant price movements for Bitcoin than for Ether, indicating a possible shift in short-term market sentiment that favors Bitcoin.

Despite the much-anticipated launch of Ethereum spot exchange-traded funds (ETFs) on Tuesday, the expected market surge did not occur. Over the past 24 hours, Ethereum's price has decreased by 1.4%, currently trading at $3,455.

The BlackRock BUIDL Fund is seeking an allocation from Ethena's $45 million reserve fund

BlackRock's tokenized money market fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), is seeking to secure an investment from Ethena Labs' tokenized fund.

On July 16, Ethena Labs launched a forum thread to discuss the allocation of its $45.4 million reserve fund, which is currently supported by $235 million in Tether (USDT) backing its USD stablecoin. The post also detailed plans to invest a portion of the fund in yield-generating, real-world asset products.

Mt. Gox creditors will begin receiving Bitcoin and Bitcoin Cash from Bitstamp

Bitstamp announced that it has begun the highly-anticipated process of returning digital assets to Mt. Gox creditors.

On Wednesday, the cryptocurrency exchange announced that it had received Bitcoin, Bitcoin Cash, and Ethereum from the Mt. Gox trustees. Bitstamp will begin distributing these digital assets to its customers starting Thursday, July 25.

This week, Mt. Gox began transferring Bitcoin to Bitstamp. The exchange first sent 2,237 BTC (valued at $147 million) to an address labeled as 3QVD5 and then transferred another 382 BTC (worth $25 million) to a second address labeled as 3CgKH, both identified as belonging to Bitstamp.

Portugal's Golden Visa is now available to Bitcoin investors

Alessandro Palombo, co-founder and CEO of Unbound Fund, has introduced a new method for Bitcoin owners to obtain European Union citizenship by applying for a Portuguese golden visa.

In a post on X, Palombo claims that this new fund is the first of its kind, allowing investors to indirectly hold Bitcoin while satisfying the requirements for the Portugal Golden Residence Permit Program.

STOCKS

• DOW: 39,853.87(-1.25%)

• S&P: 5,427.13 (-2.31%) 

• NASDAQ: 17,342.41 (-3.64%)

*Stock numbers as of market close on July 24th

Foxconn will invest $138 million in a new business headquarters in China

Foxconn, Taiwan's largest contract electronics manufacturer and Apple's main iPhone assembler, announced on Wednesday plans to invest 1 billion yuan ($137.5 million) in building a new business headquarters in Zhengzhou, China.

Foxconn, officially known as Hon Hai Precision Industry Co Ltd (2317.TW), has signed a contract with the Henan provincial government for a new project. The development will cover approximately 700 acres (283 hectares), according to the company

The $34 billion deal between Bunge and Viterra is set to receive conditional approval from the EU

On Wednesday, a source with direct knowledge revealed that the $34 billion merger deal between U.S. grains merchant Bunge (BG.N) and Glencore-backed Viterra (GLEN.L) is moving toward conditional approval from the EU antitrust authorities.

A year ago, the companies announced the deal to form one of the world’s largest agriculture trading firms, aiming to better compete with market leaders Archer-Daniels-Midland (ADM.N) and Cargill (CARG.UL)

REAL ESTATE

• 15-year: 6.32%

• 30-year: 6.87%

*Mortage rates via Mortgage News Daily

Market Trends, Home Equity, CRM, Fee Collections, AI Tools, and Updates on Disasters and Catastrophes

In Utah, July 24th is celebrated as “Pioneer Day,” marking the day in 1847 when the first group of pioneers arrived in the Salt Lake Valley and Brigham Young declared, “This is the right place.” Although some might think of it as “Pie and Beer Day” in jest, the day is actually dedicated to honoring the pioneers' journey and settlement. Meanwhile, 700 miles west on Highway 80, housing issues persist in California.

For those not in a position to build cities but with a penchant for travel, there’s an exciting option for next year. You can embark on a Pan Am flight (yes, you read that correctly) with the “Tracing the Transatlantic” itinerary.

TECH

Nigeria to Upskill 1000 AI and Blockchain experts Annually

Nigeria has launched a significant initiative to educate 1,000 youths each year in blockchain, artificial intelligence (AI), and other advanced technologies. This program aligns with the country's broader digital transformation agenda.

On July 23, Vice President Kashim Shettima officially inaugurated the AI Expertise Blockchain and Technology Training and Outsourcing Initiative in Jigawa. This step highlights Nigeria's commitment to emerging as a leader in the technology sector.

QUICK RECAP

#1. UniCredit (CRDI.MI) plans to reduce Russian unit loans to under €1 billion ($1.1 billion) by next year.

#2. Britain’s Informa (INF.L) agreed to acquire Cannes Lions Festival owner Ascential (ASCL.L) for £1.2 billion ($1.6 billion).

#3. Archrock (AROC.N) will acquire Total Operations and Production Services (TOPS) for $983 million, boosting Permian Basin capacity by 30%.

#4. Medline Industries may go public with a $50 billion valuation, considering a 2025 spring IPO.

#5. Meta Platforms removed around 63,000 accounts in Nigeria linked to financial sexual extortion targeting U.S. men.