Good morning, Coin Discoverers!

CRYPTO

• BTC: $59,301.00(-0.27%)YTD (+34.15%)

• ETH: $2,444.56(-0.55%)YTD (+3.82%)

• BNB: $530.19(-0.70%)YTD (+68.96%)

*Crypto numbers as of 5:00 am EST on August 28th

Letter demanding the release of Telegram CEO Durov gains over 300,000 signatures on the messaging app

A mini-app on Telegram designed to gather signatures in support of freeing the platform's CEO and founder, Pavel Durov, has rapidly garnered over 300,000 signatures. This strong response highlights the significant backing Durov has within the Telegram community.

Telegram, which boasts nearly 1 billion users worldwide, has provided a powerful platform for this campaign. The swift accumulation of signatures underscores the widespread influence and reach of the messaging app, as well as the deep concern among its user base regarding Durov's situation.

Toncoin and Ether spearhead the decline as crypto long liquidations surge

Toncoin and Ether have seen their values drop by approximately 4% and 5%, respectively, within the last 24 hours. These declines reflect the broader challenges facing the cryptocurrency market.

The market has been hit hard, with over $144 million in long positions liquidated in just one day. This surge in liquidations has intensified the downward pressure on major cryptocurrencies, contributing to the sharp losses experienced by Toncoin and Ether.

Nasdaq Awaits SEC Ruling on Bitcoin Index Options

Nasdaq is currently awaiting approval from SEC regulators to introduce and trade options on a bitcoin index. If approved, this initiative would offer institutional investors and traders a new mechanism to manage their exposure to bitcoin, potentially broadening the range of financial tools available for navigating the cryptocurrency market.

Despite Nasdaq’s application to trade options on BlackRock’s $21.3 billion iShares Bitcoin Trust ETF, the U.S. Securities and Exchange Commission (SEC) has yet to greenlight any options tied to exchange-traded funds (ETFs) linked to spot bitcoin prices. This decision is critical, as it could set a precedent for future bitcoin-related financial products.

Maker Protocol Rebrands as Sky, Launches New Stablecoin and Token

In a significant move within decentralized finance (DeFi), Maker Protocol has announced a rebranding to "Sky" and introduced a new stablecoin, USDS, alongside a governance token called SKY.

This rebranding is part of Maker's strategy to broaden DeFi's appeal to a wider audience. By shifting its approach and renaming the service, Maker aims to make decentralized lending more accessible and attractive to a larger number of people.

STOCKS

• DOW: 41,250.53(+0.025%)

• S&P: 5,625.80(+0.16%)

• NASDAQ: 17,754.82(+0.16%) 

*Stock numbers as of market close on August 27th

Germany and state government poised to acquire an 80% stake in shipbuilder

The German government and the state of Lower Saxony are expected to acquire around 80% of Meyer Werft, one of the world's leading cruise shipbuilders, to ensure the company's survival, according to two sources familiar with the situation. This move is seen as crucial to safeguarding the future of the 229-year-old shipbuilder.

As part of the plan, the family that currently owns Meyer Werft would retain a roughly 20% stake in the company. This arrangement is intended to be temporary, with a potential buyback option offered to the family in the coming years, the sources indicated, speaking on condition of anonymity.

Vale's stock rises as markets respond positively to new CEO appointment

Shares of Vale (VALE3.SA) increased on Tuesday as both analysts and investors reacted favorably to the appointment of Gustavo Pimenta as the company's new CEO, effective next year.

Pimenta, currently Vale's head of finance, was unanimously selected by the board of directors to succeed Eduardo Bartolomeo. This decision concludes a turbulent succession process marked by board member departures and allegations of political interference, according to Vale’s announcement late on Monday.

REAL ESTATE

• 15-year: 5.97%

• 30-year: 6.44%

*Mortage rates via Mortgage News Daily

Home price gains continue to outpace inflation despite slowing growth

Two major home price indices reveal that home price appreciation remains significantly above historical norms, although recent growth has slowed slightly. Both the S&P CoreLogic Case-Shiller indices and the Federal Housing Finance Agency’s (FHFA’s) Housing Price Index (HPI) reported smaller increases compared to the previous month.

For June, the Case-Shiller National Home Price Index showed a 5.4 percent annual gain, down from 5.9 percent in May. The 10-City Composite increased by 7.4 percent, compared to 7.8 percent the month before, while the 20-City Composite rose by 6.5 percent, down from 6.9 percent. Among the 20 cities, New York saw the highest annual growth at 9.0 percent, followed by San Diego and Las Vegas at 8.7 percent and 8.5 percent, respectively. Portland had the lowest growth rate at 0.8 percent.

TECH

Cerebras unveils new AI inference tool to compete with Nvidia

Cerebras Systems introduced a new tool for AI developers on Tuesday, providing access to its high-performance chips for running applications. The company claims this tool offers a more cost-effective alternative to Nvidia’s industry-standard processors.

Obtaining Nvidia GPUs, typically through cloud providers, for training and deploying large AI models, like those used in OpenAI’s ChatGPT, can be challenging and costly. Cerebras’ tool aims to address these issues by providing a more affordable solution for AI inference.

QUICK RECAP

#1. NFL owners may permit private equity firms to buy up to 10% of a team, with $12 billion in capital.

#2. Warburg Pincus and Lendlease (LLC.AX) announced their joint venture acquired Singapore properties for S$1.6 billion ($1.2 billion).

#3. Britain's Harbour Energy (HBR.L) anticipates completing the Wintershall Dea acquisition by early September, not Q4; shares up 7.2% to 301.10p.

#4. Australian pension fund Aware Super acquired a minority stake in euNetworks, aiming to leverage AI growth, investing via Stonepeak.

#5. Summit Partners and Vista Equity are considering selling Trintech, potentially valuing it at around $2 billion, including debt.