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Good morning, Coin Discoverers!

CRYPTO

• BTC: $65,837.50(+1.17%)YTD (+49.05%)

• ETH: $3,488.58(+1.22%) YTD (+48.28%)

• BNB: $580.48 (+0.62%) YTD (+84.92%)

*Crypto numbers as of 5:00 am EST on July 17th

Trump wants US to lead crypto, hints NFTs

According to a Bloomberg report published Tuesday, former U.S. President Donald Trump expressed his support for the cryptocurrency industry, stating it benefits the country. He emphasized that the U.S. should lead the global crypto race ahead of China and other nations.

Trump stated, "If I discard it, another country, likely China, will adopt it as they are advanced in this area. Therefore, it must be considered. My priority is what benefits the country."

The competition for dominance in the NFT marketplace is intensifying again

In 2024, the non-fungible token market faces turbulence, with June volumes dropping to $300 million from January's peak of $867 million. This decline mirrors broader market trends, highlighting NFTs as one of the more speculative assets in the crypto ecosystem.

Blur has consistently dominated the market this year, capturing 60% to 80% of the volume share. Several factors contribute to the platform's success.

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Trump's running mate JD Vance's JDV Memecoin surges 410%

Shortly after former President Donald Trump selected JD Vance as his running mate for the 2024 U.S. presidential elections, a new token named JDV (JD Vance) launched on Ethereum, skyrocketing by 410.42%.

Trump's announcement of JD Vance as his running mate had an immediate impact, causing the newly launched JDV token to surge over 400% within an hour. Analyzing data, the JDV/WETH pair on Uniswap V2 witnessed heightened activity, pushing the token's price to $0.0001869 from an initial $0.0000366.

FTX settles with CFTC for $12.7 billion following collapse

The defunct crypto firm FTX has reached a settlement with the Commodity Futures Trading Commission (CFTC), agreeing to pay $12.7 billion. According to bankruptcy court documents, the restructured company, which collapsed in November 2022, will pay $4 billion in disgorgement fees.

An additional $8.7 billion in restitution fees is set to be paid, pending court approval, as outlined in the documents.

STOCKS

• DOW: 40,954.48(+1.85%)

• S&P: 5,667.20 (+0.64%)

• NASDAQ: 18,509.34 (+0.20%)

*Stock numbers as of market close on June 16th

Musk announces relocation of SpaceX and X headquarters to Texas due to frustrations with California laws

Elon Musk announced on Tuesday that he plans to relocate the headquarters of two more of his companies—social media platform X and rocket company SpaceX—from California to Texas, citing a new gender-identity law in California as the final factor in his decision.

These moves mean that the billionaire, who recently endorsed Republican Donald Trump for U.S. president, will have shifted Tesla (TSLA.O) and most of the businesses he oversees or leads to Texas.

Record-high gold prices as rate cuts loom; Trump's remarks impact Taiwan stocks

Gold reached a record high and bonds surged on Wednesday in anticipation of global interest rate cuts, while Taiwan stocks declined following comments from U.S. presidential candidate Donald Trump suggesting a cautious stance on the island's defense commitment.

The S&P 500 reached new highs overnight, with stable futures in Asia. MSCI's index of Asia-Pacific shares outside Japan was unchanged, while Japan's Nikkei rose by 0.1%.

REAL ESTATE

• 15-year: 6.30%

• 30-year: 6.84%

*Mortage rates via Mortgage News Daily

Bonds rebound despite retail sales impact, closing stronger

This morning's Retail Sales data met headline forecasts, yet the report's components exceeded expectations. Initially, a sell-off ensued, which was rationalized in hindsight.

Bonds recovered steadily throughout the trading day, reaching peak levels before the 3 pm close. Mortgage-backed securities (MBS) performed slightly worse than 10-year Treasuries but similarly to the shorter end of the yield curve.

TECH

Teaching robots to dance could enhance their agility

The University of California San Diego engineers are using expressive dance moves to enhance the mobility and agility of humanoid robots, aiming to counter the intimidating perception of rapid robotics advancements in human environments.

Under the leadership of Xiaolong Wang, a professor in UC San Diego's Department of Electrical and Computer Engineering, the team utilized motion capture technology and videos of human dancers to train the robot's upper body movements.

QUICK RECAP

#1. SymphonyAI plans to go public in H2 2025, reaching $500M revenue and profitability with 25% growth.

#2. Fnac Darty (FNAC.PA) bids €249 million for Unieuro to consolidate as a leader in European consumer electronics.

#3. Cold storage REIT Lineage targets up to $19.16B valuation in US IPO, aiming to raise $3.85B with 47M shares.

#4. Spectris Plc to acquire Micromeritics Instrument Corp for $630 million, expanding its laboratory analytical instruments unit in Georgia, USA.

#5. Swedish debt collector Intrum (INTRUM.ST) signs term sheet with Cerberus for investment deal, using 7.2 billion SEK ($678M) from portfolio sale to reduce debt.