Giving Bitcoin and Bitcoin cash

Good morning, Coin Discoverers!

CRYPTO

• BTC: $65,694.20(-0.37%)YTD (+48.72%)

• ETH: $3,439.86(-1.24%)YTD (+46.21%)

• BNB: $581.45 (-0.13%)YTD (+85.23%)

*Crypto numbers as of 5:00 am EST on July 24th

Mt. Gox payout underway: creditors get Bitcoin and Bitcoin Cash on Kraken

Creditors of the defunct crypto exchange Mt. Gox have started receiving bitcoin and bitcoin cash transfers on the Kraken exchange, as reported by a Telegram group dedicated to Mt. Gox creditors.

The payout follows Kraken's receipt of 48,641 BTC, valued at over $3 billion, from the Mt. Gox Rehabilitation Trustee on July 16. The exchange anticipated that creditors would be able to access their funds within one to two weeks.

India's 2024 Budget leaves crypto taxation unchanged

Indian Finance Minister Nirmala Sitharaman's annual budget 2024-25 speech on Tuesday notably omitted any mention of crypto or virtual digital assets.

The crypto sector had advocated for moving from a flat 30% tax on gains to a progressive tax system that would permit losses to offset gains. They also requested a multi-agency regulatory framework to better address the sector's complexities.

Pudgy Penguins raises $11 million to support Ethereum Layer-2 expansion

Igloo, Inc., the parent company of the popular NFT brand Pudgy Penguins, announced on Tuesday that it has raised over $11 million to develop a new Ethereum layer-2 scaling network called Abstract.

The funding round was led by Founders Fund and included additional investments from Fenbushi Capital, 1kx, Everest Ventures Group, and Selini Capital.

Igloo will use the funds to launch Cube Labs, a new venture responsible for developing Abstract, an Ethereum layer-2 network. In June, Igloo announced its acquisition of Frame, an NFT-focused layer-2 network.

Pixelverse marks 38 million players milestone with NFT airdrop celebration

Pixelverse has reached a major milestone, achieving 38 million players with its recent airdrop. After thorough verification to ensure fairness and prevent cheating, the distribution of free mint NFTs has been finalized.

Here’s the breakdown:

• 34,396,191 players received a Common Avatar NFT

• 3,104,787 players were awarded an Uncommon Avatar NFT

• 725,178 players obtained a Rare Avatar NFT

• 223,428 players earned an Epic Avatar NFT

• 33,547 players received the coveted Legendary Avatar NFT

STOCKS

• DOW: 40,358.09(-0.14%)

• S&P: 5,555.74 (-0.16%) 

• NASDAQ: 17,997.35 (-0.057%)

*Stock numbers as of market close on July 23th

Industrial equipment manufacturer IDEX is set to acquire Mott Corp for $1 billion

Industrial equipment maker IDEX Corp (IEX.N) announced on Tuesday that it will acquire filtration products manufacturer Mott Corp for $1 billion in cash, aiming to enhance its presence in the medical technologies sector.

Founded in 1959, Mott manufactures machinery and devices utilized in pharmaceuticals, biotechnology, and chemical manufacturing. The company will be integrated into IDEX's health and science technologies segment, which produces scientific components and laboratory equipment.

Goldman Sachs acquires logistics properties in Australia to strengthen its real estate portfolio

Goldman Sachs Group’s alternative investments platform announced on Tuesday that it has acquired seven logistics properties across Australia to expand its real estate portfolio.

Goldman Sachs Alternatives noted that these "last-mile" properties, situated along urban highways in Adelaide, Brisbane, Perth, and Melbourne, are leased to e-commerce, transport, and wholesale distributors.

REAL ESTATE

• 15-year: 6.32%

• 30-year: 6.87%

*Mortage rates via Mortgage News Daily

Uneventful start with slight strength; light calendar

This morning's market activity suggests that yesterday's mid-day sell-off may not be as significant or intentional as initially thought. Bonds have been steadily recovering since peaking just before 1pm, indicating a gradual rebound.

As a result, we are beginning the day in line with yesterday's opening levels in MBS. More importantly, this movement over the past week and a half does not seem to carry any particular significance, suggesting a more stable outlook.

TECH

SingularityNET allocates $53 million for an AI ‘supercomputer’ and new data centers

Blockchain and decentralized AI developer SingularityNET announced on Tuesday that it is investing $53 million in artificial general intelligence (AGI) research, focusing on the hardware required to support decentralized AI and accelerate advancements in the rapidly evolving AI field.

SingularityNET stated that the funding will be distributed in phases, starting with an initial allocation of $26.5 million to develop "the world's first modular supercomputer" specifically designed for decentralized AGI.

QUICK RECAP

#1. Israeli cybersecurity startup Wiz has ended talks with Alphabet (GOOGL.O) on a $23 billion deal, its largest-ever acquisition.

#2. Vista Outdoor (VSTO.N) announced Czechoslovak Group raised Kinetic Group's purchase price by $50M to $2.15B; Vista rejected MNC's $3.2B bid.

#3. Grab (GRAB.O), Southeast Asia’s largest ride-hailing and food delivery firm, acquired Singapore's Chope dining reservation platform, price undisclosed.

#4. Energy infrastructure company Archrock (AROC.N) will buy gas compression provider TOPS for $983M in cash and stock from Apollo.

#5. IDEX Corp (IEX.N) to acquire Mott Corp for $1 billion, boosting its medical technologies presence, announced Tuesday.