Good morning, Coin Discoverers!

CRYPTO

• BTC: $60,145.40(-0.14%)YTD (+36.68%)

• ETH: $2,357.25(-0.76%)YTD (+0.12%)

• BNB: $548.24(+0.36%)YTD (+74.71%)

*Crypto numbers as of 5:00 am EST on September 18th

Jamie Dimon: JPMorgan Chase Among Top Blockchain Users

In a recent interview at the Financial Markets Quality Conference, banking giant Jamie Dimon highlighted that JPMorgan is an "actual user" of blockchain technology. While Dimon has historically been critical of cryptocurrencies, even advocating for a ban on digital assets like Bitcoin, the bank is actively embracing blockchain for its operations.

Despite his skepticism of crypto, JPMorgan sees value in blockchain.
Dimon’s stance signals a shift toward practical applications of the technology.

Republicans Press SEC for Clarity on Crypto Airdrop Regulations

House Financial Services Committee Chair Patrick McHenry and Majority Whip Tom Emmer criticized the SEC for "putting its thumb on the scale" in its approach to crypto airdrops. They expressed concerns that the agency's actions may unfairly target these digital assets.

In a letter to SEC Chair Gary Gensler, McHenry and Emmer posed questions about how the SEC plans to differentiate airdrops from other rewards programs like airline miles or credit card points, seeking clearer regulatory guidelines.

Circle Expands USDC to Sui, Reaching 15th Blockchain Integration

Circle is launching its USDC stablecoin on the Sui Layer 1 blockchain.

This expansion brings USDC to yet another major network.

Sui becomes the 15th blockchain integration for USDC.

Circle first launched USDC in 2018 and continues to grow its reach.

Bitcoin ETFs Surge by $250M Amid Anticipation of Rate Cut

Bitcoin ETFs are experiencing renewed investor interest.

Arkham Intelligence reports $250 million worth of Bitcoin added in one day.

This marks the largest single-day ETF addition in over a month.

Bitcoin’s price surpassed $61,000 on Tuesday, a first for September.

STOCKS

• DOW: 41,606.53(-0.038%)

• S&P: 5,634.58(+0.026%)

• NASDAQ: 17,628.06(+0.20%) 

*Stock numbers as of market close on September 17th

US Delays Decision on Nippon's US Steel Bid Until Post-Election

The U.S. national security panel has allowed Nippon Steel and U.S. Steel to refile their application for approval of Nippon's bid, delaying any final decision until after the presidential election. This postponement gives the companies more time to pursue the deal, which had been in jeopardy.

The Committee on Foreign Investment in the U.S. (CFIUS) previously raised concerns that the acquisition could threaten national security by disrupting the steel supply chain for critical American industries, casting doubt on the deal’s approval.

Alaska Airlines and Hawaiian Airlines Cleared to Finalize Merger

The U.S. Transportation Department approved Alaska Airlines' $1.9 billion acquisition of Hawaiian Airlines.

The deal includes agreements to maintain key Hawaiian routes and adopt consumer protections.

The Justice Department chose not to block the merger, which was announced last December.

Alaska and Hawaiian Airlines plan to finalize the deal on Wednesday.

REAL ESTATE

• 15-year: 5.63%

• 30-year: 6.11%

*Mortage rates via Mortgage News Daily

Key Takeaways to Watch in Wednesday's Fed Announcement

The market is divided over the size of the Fed's expected rate cut on Wednesday, making this meeting highly anticipated. However, the market reaction is likely to be driven more by the updated "dot plot," which reveals each Fed member's future rate outlook in the Summary of Economic Projections, than by the cut itself.

Fed Chair Powell's 2:30pm press conference will further clarify the Fed's stance. As usual, volatility is expected, but its direction remains uncertain, with potential for swings before the market settles on a clear trajectory.

TECH

California Governor Approves AI Deepfake Laws Backed by Actor Unions

• California Governor Gavin Newsom signed two bills requiring actors' consent for creating and using digital replicas.

• The laws, AB2602 and AB1836, protect performers from unauthorized AI-generated deepfakes.

  

• These measures apply to both living and deceased actors.

• AI usage became a key issue in last year’s SAG-AFTRA negotiations with studios.

• Background actors were particularly concerned about AI replacing their work without fair compensation.

QUICK RECAP

#1. Arko plans to sell its convenience store operations in a $2 billion deal, shifting from its expansion strategy.

#2. Trump's media company shares dropped 3.6% Tuesday, down 7% for the week, as insider sale restrictions near end.

#3. A fire at Greece's second-largest refinery, 70 km west of Athens, slightly injured 3 people Tuesday.

#4. VivoPower signs a non-binding merger deal with FAST, creating a $1.13 billion company with 90-day exclusivity.

#5. Philip Morris's Vectura Fertin Pharma is selling Vectura Group to Molex Asia Holdings for £150M ($198M).