Good morning, Coin Discoverers!

CRYPTO

• BTC: $58,178.30(+1.14%)YTD (+31.71%)

• ETH: $2,602.41(+1.24%)YTD (+10.61%)

• BNB: $515.12(-0.96%)YTD (+64.10%)

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

Donald Trump Jr. promotes the 'Defiant Ones' Telegram channel for an upcoming cryptocurrency initiative

The name of the channel, 'The Defiant Ones,' aligns with recent trademark filings. Last week, Donald Jr. and Eric Trump denied rumors that the crypto project would be a memecoin.

It's digital real estate," he explained to The Post. "It's equitable, offering collateral that anyone can access instantly. I don't think people fully grasp the impact this could have on the banking and finance world. I hope we can be part of that change.

Gift card giant Raise teams up with WalletConnect to introduce a cryptocurrency payment option

Gift card company Raise has joined forces with WalletConnect to expand its payment options by supporting a variety of popular digital wallets, such as MetaMask, Phantom, and Coinbase Wallet. Through this partnership, users will be able to make in-app purchases using a range of cryptocurrencies, including ETH, DOT, BTC, and SOL, along with USDC and USDT stablecoins.

Looking ahead, Raise plans to further integrate blockchain technology into its tech stack, signaling a deeper commitment to embracing decentralized finance solutions. The collaboration with WalletConnect marks a significant step towards offering more versatile and innovative payment methods for its users.

Chaos Labs Raises $55M to Strengthen DeFi Security

Chaos Labs, a New York-based blockchain security company, has secured $55 million in a Series A funding round. The round was led by Haun Ventures, with significant contributions from PayPal, Lightspeed, Galaxy Ventures, and Wintermute. New investors F-Prime Capital, Slow Ventures, and The Spartan Group also took part in the funding.

Chaos Labs provides a cloud-based platform designed to help DeFi protocols identify potential risks and fortify their systems. By leveraging advanced simulations, they enable platforms to test their resilience against various scenarios and market conditions. Their client roster includes prominent DeFi protocols such as Aave, GMX, and Jupiter.

To date, Chaos Labs has played a key role in securing $860 billion in trading volume, $25 billion in loans, and $35 million in incentives across more than 20 cryptocurrency platforms.

Ethereum Founder Vitalik Buterin Donates $500,000 from 'Animal Coins' to Charity

Vitalik Buterin has once again found a meaningful purpose for the trillions of crypto tokens that people frequently send his way, this time directing them to support animal welfare. On Wednesday, the Ethereum co-founder donated $532,000 worth of ETH to the Effective Altruism Fund's Animal Welfare Fund.

Buterin explained that the donation was made possible by selling off all the "animal coins"—Ethereum-based meme coins with animal themes—that crypto users had sent him over the past year.

STOCKS

• DOW: 40,563.06(+1.39%)

• S&P: 5,543.22(+1.61%)

• NASDAQ: 17,594.50(+2.34%) 

*Stock numbers as of market close on August 15th

Lockheed Martin to Acquire Satellite Products Manufacturer Terran in $450 Million Deal

On Thursday, Lockheed Martin (LMT.N) agreed to acquire satellite products manufacturer Terran Orbital (LLAP.N) in a $450 million deal. This comes after Lockheed previously withdrew its bid to take Terran private.

Lockheed will pay 25 cents per share in cash, which is a 37.5% discount compared to Terran's last closing price. In March, Lockheed had proposed $1 per share. Following the announcement, Terran's shares dropped nearly 41% to 24 cents on the New York Stock Exchange.

Alaska Air and Hawaiian Airlines Extend Review Period for Proposed Deal

On Thursday, Alaska Air (ALK.N) announced that it has agreed to further extend the review period for its proposed $1.9 billion acquisition of Hawaiian Holdings (HA.O) with the U.S. Department of Justice (DOJ). The new deadline for the review period is now set for 12:01 AM ET on August 20.

Previously, the airlines had extended the review period to 12:01 AM ET on Friday. The deal, which was first announced last year, has seen ongoing cooperation between the carriers and the DOJ. The companies stated in March that they are continuing to work collaboratively with the DOJ to facilitate the review process.

REAL ESTATE

• 15-year: 6.15%

• 30-year: 6.58%

*Mortage rates via Mortgage News Daily

Jobless Claims May Have Impacted Bonds More Than Retail Sales

Here's a hot take that might spark debate, depending on one's view of the bond market: Jobless Claims coming in at 227k, compared to the 235k forecast, might have impacted bonds more significantly than Retail Sales, which came in at 1.0% versus a 0.3% expectation. While Retail Sales data is important, the Federal Reserve emphasizes the labor market when considering rate cuts.

Bond traders, who closely monitor the Fed, may find this jobless claims report a stronger indicator against lower rates, as evidenced by reactions to previous jobless claims data. The focus on labor market data often outweighs retail sales figures for those in the bond market.

TECH

California Court Faces Lawsuit Against Deepfake AI ‘Undress’ Porn Sites

On Thursday, the city of San Francisco filed an extensive lawsuit against 18 websites and apps that produce unauthorized deepfake nudes of unsuspecting individuals. The complaint, which has redacted the names of the service providers, addresses the widespread issue of platforms offering to “undress” or “nudify” women and girls.

The lawsuit highlights that these sites have collectively received over 200 million visits in the first six months of 2024, underscoring the scale of the problem and the need for legal intervention.

QUICK RECAP

#1. Swedish firm EQT (EQTAB.ST) will acquire KJ Environment from Genesis Private Equity for over 1 trillion won ($733M).

#2. Tapestry (TPR.N) exceeded Q4 expectations with strong Coach Tabby handbag sales, boosting shares 8% amid easing global spending.

#3. RWE (RWEG.DE) shares fell 7% on Wednesday amid investor concerns over a potential minority stake in Calpine.

#4. Thyssenkrupp (TKAG.DE) is in talks with Carlyle (CG.O) and KfW (KFW.UL) to sell a majority stake in Thyssenkrupp Marine Systems (TKMS).

#5. Performance Food Group (PFGC.N) will acquire Cheney Bros for $2.1 billion, enhancing its Southeastern U.S. presence. Cheney has $3 billion in annual sales.