Good morning, Coin Discoverers!

CRYPTO

• BTC: $58,238.40(-1.45%)YTD (+31.75%)

• ETH: $2,357.25(-2.12%)YTD (+0.19%)

• BNB: $542.16 (-2.14%)YTD (+72.78%)

*Crypto numbers as of 5:00 am EST on September 16th

Bitcoin ETFs See Biggest Inflows in 2 Months as BTC Nears $60K

Spot Bitcoin ETFs saw their largest inflows since July, while BlackRock's IBIT remained flat.

Bitcoin approaches $60K as traders anticipate a major Fed rate cut next week.

US spot Ether ETFs experienced a modest inflow, marking a rare rebound.

Despite no major changes in BlackRock’s IBIT, Bitcoin ETFs surged as Ether ETFs saw slight gains.

Stablecoin Issuers Freeze $5M in Assets

Paxos, Tether, Techteryx, and Circle freeze $5M in stablecoins linked to North Korean Lazarus hackers, following ZachXBT's investigation.

ZachXBT criticizes Circle for delaying action, taking 4.5 months to freeze funds tied to the hacking group.

$5M in stablecoins frozen across two wallets connected to North Korea's Lazarus, with Circle facing scrutiny for slow response.

Ethereum Researcher Danny Ryan Steps Down After 7 Years

Danny Ryan cites personal reasons and the desire to explore new opportunities as the driving factors behind his departure from the Ethereum Foundation.

During his time as a lead developer, Ryan played a key role in coordinating major upgrades, including the 2021 launch of the Beacon Chain, marking Ethereum's transition to proof-of-stake.

‘Catizen’ Players Outraged by Sudden Airdrop Changes in Telegram Game

Catizen’s journey to its token launch on September 20 has been bumpy, with players already frustrated by a previous delay. Now, tensions have escalated as Pluto Studio revealed airdrop allocations with undisclosed changes to the criteria, leaving many players upset.

On Saturday, Pluto Studio informed players about the number of CATI tokens they will receive when the game launches on The Open Network. However, with the token not yet live, players remain in the dark about its market value ahead of the September 20 launch.

STOCKS

• DOW: 41,393.53(+0.72%)

• S&P: 5,626.00(+0.54%)

• NASDAQ: 17,683.98(+0.65%) 

*Stock numbers as of market close on September 13th

Alcoa Sells 25% Stake in Ma’aden for $1.1 Billion

Alcoa to sell its 25.1% stake in Ma’aden for $1.1 billion to Saudi Arabian mining firm.

The deal includes 86 million Ma’aden shares and $150 million in cash, set to close by mid-2025.

Alcoa’s sale aims to simplify its portfolio and boost financial flexibility.

CEO William Oplinger highlights the transaction’s benefits for investment clarity and financial agility.

Insight Partners Nears $10 Billion Fund Closing

Private equity firm Insight Partners is set to close its latest fund, expected to exceed $10 billion, though this is about half of its initial goal, according to the Financial Times.

The firm will finalize its 13th fund early next year, with the total amount potentially reaching up to $12 billion.

REAL ESTATE

• 15-year: 5.62%

• 30-year: 6.22%

*Mortage rates via Mortgage News Daily

Fed Week Uncertainty Spurs Market Consolidation

Bonds surged over a month ago after a weak jobs report, then consolidated before early September data led to a slight additional rally. This week provided a chance for further consolidation, setting the stage for potential volatility in the coming week.

Friday’s Consumer Sentiment report failed to energize the market, leaving bonds little changed. They started the day modestly stronger and ended with nearly the same levels.

TECH

AI Elizabeth Bennet Takes Center Stage at Jane Austen’s House

It is a truth universally acknowledged that even a wealthy gentleman needs an AI companion.

Jane Austen's House in Hampshire has embraced this notion by collaborating with AI firm StarPal and the University for the Creative Arts (UCA) to introduce "Lizzy," an AI avatar inspired by Elizabeth Bennet from Pride and Prejudice.

QUICK RECAP

#1. Billionaire Brad Jacobs' QXO offered $9.4 billion for French company Rexel, but Rexel rejected the bid on Sunday.

#2. German billionaire Mathias Doepfner and KKR agreed in summer to split Axel Springer.

#3. Canada's ABC Technologies offered 176 pence ($2.31) per share for TI Fluid Systems, which was rejected. ABC remains interested.

#4. OpenAI’s $6.5 billion round, involving convertible notes, could affect its $150 billion valuation and profit cap removal.

#5. Apollo Global’s ABC Technologies offers £800 million ($1.05 billion) to buy TI Fluid Systems at 180 pence per share.