Good morning, Coin Discoverers!

CRYPTO

• BTC: $63,845.40(-0.50%)YTD (+44.43%)

• ETH: $2,753.57(-0.56%)YTD (+17.82%)

• BNB: $574.16 (-1.34%)YTD (+82.28%)

*Crypto numbers as of 5:00 am EST on August 26th

TON Price Drops 17% Following the Arrest of Telegram CEO Pavel Durov in France

Telegram co-founder and CEO Pavel Durov was reportedly arrested in France late Saturday after landing on his private jet from Azerbaijan, according to local media. The news quickly impacted the cryptocurrency market, leading to a sharp decline in the price of Toncoin (TON), the token associated with The Open Network, which is linked to Telegram.

Durov, 39, was taken into custody by France's National Anti-Fraud Office, as reported by TF1. The arrest was connected to various charges allegedly related to illegal activities conducted by Telegram users, which the platform purportedly failed to moderate. The charges include accusations of facilitating terrorism, the sale of narcotics and stolen goods, and other forms of fraud.

Spot Bitcoin ETFs Record Largest Single-Day Inflow Since July

U.S.-based spot Bitcoin ETFs saw a significant inflow of $252 million, marking the highest single-day inflow in a month. This influx extends a seven-day trend of positive net inflows, highlighting growing investor interest in Bitcoin. Among the ETFs, BlackRock's IBIT stood out with the largest gains, while Grayscale's GBTC was the only fund to experience negative net flows.

In contrast, Ether ETFs are facing a different trend, recording seven consecutive days of net outflows. This divergence suggests that while Bitcoin is attracting increased investment, interest in Ether appears to be waning.

Vitalik Buterin Highlights Ethereum’s Resilience, Announces Upcoming AI Event

Ethereum co-founder Vitalik Buterin emphasized the blockchain network's solid foundation, describing its fundamentals as "crazy strong." He pointed to key advancements, such as the adoption of a rollup-centric roadmap, which he believes has significantly addressed Ethereum's scalability issues.

Buterin's remarks underscore the progress Ethereum has made in overcoming some of its most critical challenges. He also touched on the growing intersection between blockchain technology and artificial intelligence, hinting at the potential for further innovation in the space.

Andrew Tate Pledges to Purchase $1 Million Worth of $DADDY Coin After Reaching 10 Million Followers

Andrew Tate has revealed his intention to invest $1 million in $DADDY Coin upon reaching 10 million followers on X (formerly Twitter). This move reflects Tate's growing engagement with the cryptocurrency world, where he continues to leverage his substantial online influence.

Currently, with around 9.9 million followers, Tate is using his platform to actively promote $DADDY Coin, a meme coin built on the Solana blockchain. His goal is to drive the coin's market capitalization to $1 billion, signaling his commitment to boosting its visibility and value within the crypto community.

STOCKS

• DOW: 41,175.08(+1.14%)

• S&P: 5,634.60(+1.15%)

• NASDAQ: 17,877.80(+1.47%) 

*Stock numbers as of market close on August 23th

Novartis Gets Binding Offer from Siemens Healthineers for Its Molecular Imaging Business

Swiss pharmaceutical company Novartis (NOVN.S) announced on Saturday that it has received a binding offer from Germany's Siemens Healthineers (SHLG.DE) to acquire its molecular imaging business, which focuses on Fluorine-18 positron emission tomography (PET) scans.

Siemens Healthineers is set to pay over 200 million euros (approximately $224 million) for the diagnostic division of Advanced Accelerator Applications, a Novartis subsidiary. This deal was reported earlier by the Financial Times.

Meritage Considers $2 Billion Sale of Columbia Distributing

Investment firm Meritage Group is considering a potential sale of Columbia Distributing, with the transaction potentially valuing the U.S. beverage distributor at around $2 billion, including debt. This move has been revealed by sources familiar with the situation.

Meritage, founded by billionaire Nat Simons after departing from hedge fund Renaissance Technologies in 1997, is collaborating with investment bankers at Morgan Stanley (MS.N) to facilitate the sale process. Columbia Distributing, a major player in the U.S. beverage distribution market, is at the center of these confidential discussions.

REAL ESTATE

• 15-year: 5.97%

• 30-year: 6.44%

*Mortage rates via Mortgage News Daily

Closing Near the Week's Highest Levels

On Friday, the bond market was significantly influenced by Jerome Powell's appearance at Jackson Hole. His statements were impactful, confirming the Federal Reserve's policy shift but providing no specifics on the size of the expected rate cut in September. Following Powell's prepared remarks, bonds experienced an immediate rally.

With no Q&A session following Powell's speech, the market reaction was swift and clear. Mortgage-backed securities (MBS) and Treasuries reached their peak levels shortly after the remarks and are closing the day at nearly identical levels.

TECH

AWS Chief Predicts AI May Render Coders Obsolete Within Two Years

Developers might face a significant shift in their roles soon, according to Matt Garman, CEO of Amazon Web Services. In a recently leaked recording from an internal fireside chat, Garman suggested that within approximately 24 months, the majority of developers could find themselves no longer writing code.

Garman speculated that the advancement of artificial intelligence could drastically change the landscape of coding, potentially making traditional programming roles obsolete. "If you look ahead 24 months, or perhaps a bit longer—I can’t pinpoint the exact timeframe—it’s possible that most developers will not be coding," Garman stated, as reported by Business Insider.

QUICK RECAP

#1. Edgar Bronfman aims to partner with Amazon (AMZN) or Apple (AAPL) to boost Paramount Global’s streaming TV business.

#2. Deutsche Bahn’s Schenker received final bids from DSV and a CVC-led consortium, both valuing it at about €14 billion.

#3. Canada's Couche-Tard is considering a takeover of Japan's Seven & i, potentially marking the largest foreign buyout of a Japanese company.

#4. JD.com faces challenges with a stagnant market and Walmart's $3.74 billion exit, causing a 10% share drop.

#5. China's Sinopec reported a 2.6% net profit rise to 37.1 billion yuan ($5.21 billion) for H1 2024.