Launched something mammoth 🔥

Author

Yash Bansal
June 07, 2024

In partnership with

Good morning, Coin Discoverers!

CRYPTO

  • BTC: $70,681.03 (-0.13%) YTD (+60.01%)

  • ETH: $3,794.92 (-0.45%) YTD (+61.30%)

  • BNB: $701.42 (-1.32%) YTD (+123.43%)

*Crypto numbers as of 5:00 am EST on June 7th

Telegram Debuts Mini-App Payments

On Thursday, Pavel Durov, CEO of Telegram, unveiled a new payment system for digital goods and services.

Telegram launched Telegram Stars, enabling users to purchase digital services through in-app payments on iOS and Android. App developers can exchange their stars for TON, the native token of The Open Network, via the Fragment exchange.

Kraken Eyes Pre-IPO Funding

Bloomberg: Kraken mulls new funding before possible IPO, according to sources familiar with the situation

Sources indicate that Kraken, amidst a crypto market surge, contemplates a pre-IPO round, potentially exceeding $100 million, with completion anticipated by year-end.

Kraken emphasized its commitment to advancing global crypto adoption, affirming its continuous pursuit of strategic avenues aligned with its mission in a statement.

For Those Who Seek Unbiased News.

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Hulk Hogan Memecoin Plummets

Hulk Hogan's Solana memecoin reportedly drops $15 million in value after wrestler allegedly removes promotional posts.

On Thursday, WWE legend Hulk Hogan allegedly deleted posts promoting a Solana memecoin, leading to a reported $15 million drop in market cap, according to Step Finance's social media account, Solana Floor.

HULK Solana memecoin plunged from $17 million to $2 million within minutes after Hulk Hogan deleted tweets about the coin," reported a Solana-focused account.

Robinhood Eyes Bitstamp Acquisition

Robinhood's potential $200 million acquisition of Bitstamp aims to expand its global reach, strengthening its position in both crypto and stock trading.

Robinhood anticipates finalizing the cash deal in the first half of 2025, pending regulatory clearance and other customary closing requirements

STOCKS

  • DOW: 38,886.17 (+0.20%) 

  • S&P: 5,352.96 (-0.020%) 

  • NASDAQ: 17,173.12 (-0.086%) 

*Stock numbers as of market close on June 7th

Toronto Market Rises: Resource Boost

Canada's main stock index rose on Thursday. This comes ahead of critical employment reports from both the US and Canada, with investors anticipating the results.

The Toronto Stock Exchange's S&P/TSX composite index closed at 22,229.10, up 0.4% or 84.08 points

Canada is expected to add a modest 22,500 jobs in May, with a slight uptick in unemployment possible. The US jobs report is also due Friday, forecasting a much stronger gain of 185,000.

GameStop Soars on Livestream

GameStop (GME.N) shares surged around 50% after "Roaring Kitty" announced a livestream on YouTube, drawing attention from online stock enthusiasts.

Thursday saw another surge in volatile trading for the struggling videogame seller's shares, initiated last month when influencer Keith Gill, known as 'Roaring Kitty,' reappeared on X.com after a three-year break.

REAL ESTATE

  • 15-year: 6.55%

  • 30-year: 7.03%

*Mortage rates via Mortgage News Daily

Focus Shifts to Employment

Rising mortgage rates continued to bite, with applications falling for a second straight week as rates hit their peak for the year in late May.

While the Federal Reserve doesn't directly control mortgage rates, it influences them through the federal funds rate, impacting borrowing costs and the housing market.

Mortgage News Daily warns that a stronger-than-expected jobs report could trigger a sudden jump in interest rates.

TECH

Web3 Domain Revolution: '.blockchain' Launch!

Unstoppable Domains and Blockchain.com team up to pioneer Web3 domains, combining browser and email compatibility, in partnership with ICANN

Today's strategic announcement aims to establish a Web3 domain ".blockchain", with Blockchain.com applying to ICANN. The application process begins next year, with a window opening in April 2026.

QUICK RECAP 

#1. Nvidia briefly hit $3 trillion market cap, but shares cooled, falling 1.6%.

#2. S&P 500, Nasdaq dip slightly; Dow edges up ahead of labor report after record highs.

#3. Japanese household spending marked its initial increase in 14 months. Consumer spending rose by 0.5% from the previous year, slightly under the forecasted 0.6%.

#4. The dollar neared an eight-week low before a pivotal U.S. jobs report, while the euro maintained gains after the ECB's rate cut, with the U.S. dollar index around 104.13, close to recent lows.

#5. Oil prices surged on Friday, with Brent crude up 0.2% to $80.03 and U.S. WTI crude up 0.2% to $75.71.