Good morning, Coin Discoverers!

CRYPTO

• BTC: $61,950.40(+0.51%)YTD (+40.14%)

• ETH: $2,357.76(+0.67%)YTD (+0.19%)

• BNB: $557.96(-0.21%)YTD (+77.81%)

*Crypto numbers as of 5:00 am EST on September 14th

Ethena Labs Shuts Down Website After Domain Hack

Ethena Labs is urging users to steer clear of its website following a security breach involving its domain registrar account. The compromise raises concerns about a potential frontend attack, which could expose users to risks.

As a precaution, Ethena Labs has temporarily disabled its site to protect users from any malicious activity. The company is actively working to resolve the issue and restore safe access as soon as possible.

Clash Erupts in US House Over SEC Approval for Crypto Custody

Dan Gallagher, Robinhood's chief legal officer, shared insights on the firm's talks with the SEC about potential registration during a recent hearing. He highlighted the ongoing discussions and the challenges surrounding regulatory compliance for crypto companies.

Meanwhile, Rep. Stephen Lynch of Massachusetts argued that the rules for crypto firms are already clear and should be followed. He emphasized that companies need to navigate the existing regulations rather than seeking special treatment.

Hemi Labs Secures $15M for Modular Blockchain Development

Binance Labs, Breyer Capital, and Big Brain Holdings spearheaded the funding round.

Hemi Labs secured backing from top blockchain investors.

The Hemi Network, powered by Bitcoin and Ethereum, is developed by Hemi Labs.

Hemi Labs builds a modular network combining Bitcoin and Ethereum's strengths.

Jan 6 Organizer Claims Barron Trump Is a Time-Traveling Crypto Degen

Dustin Stockton, the lead organizer of the January 6 protest, claims that Barron Trump, the youngest son of former president Donald Trump, is not only a meme coin trading crypto degen but also a time traveler. This bizarre claim has sparked attention among Trump supporters.

While the idea may seem far-fetched, Stockton and other MAGA loyalists genuinely believe it. Major outlets like Politico have previously reported on similar unusual beliefs circulating within these circles.

STOCKS

• DOW: 41,503.10(-0.25%)

• S&P: 5,618.26(-0.29%) 

• NASDAQ: 17,573.30(-0.31%)

*Stock numbers as of market close on September 18th

GameStop CEO Cohen Hit with $1M Fine for Wells Fargo Stock Purchase

GameStop CEO Ryan Cohen has agreed to a nearly $1 million fine to settle a claim by the U.S. Federal Trade Commission. The FTC stated that Cohen did not report his acquisition of over $100 million in Wells Fargo voting shares, as required by law.

The FTC noted that Cohen, who bought the shares in 2018, was not merely an investor. He provided input to the bank’s management and sought a board seat, which contributed to the regulatory oversight.

EU Clears Microsoft's Inflection Staff Hire from Merger Scrutiny

The European Commission has decided not to scrutinize Microsoft's hiring of Inflection's staff, including its co-founders, under EU merger rules. This decision comes after seven EU countries withdrew their requests for a review.

The move follows a recent ruling by Europe's top court, which prohibited the EU from examining merger cases that fall below the set revenue threshold. Consequently, Microsoft's deal will proceed without additional antitrust scrutiny.

REAL ESTATE

• 15-year: 5.65%

• 30-year: 6.15%

*Mortage rates via Mortgage News Daily

Lender M&A, Reverse Redlining, and STRATMOR on Pay: Key Industry Updates

What does a dyslexic pirate say? "RRRRRRA!" All jokes aside, many in our industry have overcome significant challenges, including dyslexia. If you missed Robbie’s insightful interview with Glenn Stearns, you can catch it online here—it’s a great listen for gaining perspective on overcoming adversity.

In another note, a reader asked if borrowers truly understand both rates and fees when shopping for loans. I’d argue they mostly focus on rates. However, the Consumer Financial Protection Bureau is dedicated to ensuring fairness, pushing lenders to be transparent about both rates and fees to protect consumers.

TECH

Google Turns Your Notes into NPR-Quality Podcasts with AI

Imagine this: If we hadn’t mentioned it, you’d probably think it was a real podcast produced by professionals, not an AI creation done in minutes.

Things are getting astonishingly advanced.

Google's latest innovation, "NotebookLM," is pushing the boundaries of what AI can do. This tool transforms your notes and documents into podcasts with such a lifelike quality that listeners might mistake them for something from "Morning Edition."

QUICK RECAP

#1. Jabil (JBL.N) will invest 20 billion rupees ($238.2 million) in a new Tamil Nadu manufacturing plant.

#2. Alaska Airlines' $1.9 billion acquisition of Hawaiian Airlines is complete, with a six-year agreement on routes and protections.

#3. Legal & General sells UK housebuilder CALA Group for £1.35 billion ($1.78 billion) to Sixth Street Partners.

#4. Japan's Eneos Holdings (5020.T) will buy a 20% stake in Norway's GoliatVind wind farm for Japanese expertise.

#5. Financial investor CVC urges Deutsche Bahn to rethink its $16B sale of Schenker to Denmark's DSV.