Good morning, Coin Discoverers!

CRYPTO

• BTC: $57,079.40(+1.83%)YTD (+29.22%)

• ETH: $2,516.83(+2.22%)YTD (+6.97%)

• BNB: $492.33 (+1.66%)YTD (+56.84%)

*Crypto numbers as of 5:00 am EST on August 7th

Diego Oliva resigns as CEO of Starknet Foundation

After serving as CEO since March 2023, Diego Oliva has stepped down from his role at Starknet Foundation. James Strudwick will assume the position of executive director, while Oliva will remain temporarily to assist with the transition.

During Oliva's tenure, Starknet accomplished the Provisions project and launched several ecosystem development initiatives, including 'DeFi Spring,' 'Seed Grants,' and the 'Catalyst and Propulsion' programs. Additionally, the foundation secured agreements with over 100 infrastructure teams, according to a statement.

Kamala Harris selects Minnesota Governor Tim Walz as her running mate

According to reports, U.S. Vice President Kamala Harris has selected Minnesota Governor Tim Walz as her running mate. While Walz has not spoken extensively about cryptocurrency, the issue of regulating the industry has been a frequent topic during this election season.

Bettors on the decentralized prediction market platform Polymarket had given Shapiro a 57% chance of being Harris' vice presidential pick, while Walz had 40%. These odds have fluctuated over the past few weeks, with some bettors also placing money on North Carolina Governor Roy Cooper for the position.

Ronin Gaming Network Recovers Stolen Ethereum After $12 Million Bridge Attack

Three years after a massive $622 million hack, the Ronin-Ethereum bridge has been attacked again. This time, however, there's a more positive outcome.

The Ronin account reported that approximately 4,000 ETH and $2 million worth of the USDC stablecoin were stolen, totaling about $12 million in assets. The damage was mitigated by safeguards that limit the size of any single Ronin withdrawal.

Transak Becomes First to Introduce Wire Transfer for Buying Crypto in the US

Transak, a leading Web3 payments infrastructure provider, has officially introduced wire transfers as a payment method for purchasing cryptocurrencies in the US. This launch marks a significant advancement in accessibility and convenience for cryptocurrency enthusiasts nationwide.

One of the standout features of wire transfers on Transak is their cost-effectiveness. With a fee of only 1%, wire transfers provide a much more affordable option compared to other US payment methods like credit cards and Apple Pay.

STOCKS

• DOW: 38,997.66(+0.66%)

• S&P: 5,240.03(1.04%)

• NASDAQ: 16,366.85(1.03%) 

*Stock numbers as of market close on August 6th

Thoma Bravo considers $2 billion sale of ESG software company Cority

Thoma Bravo is considering various options, including a potential sale of Cority, aiming to value the sustainability compliance software maker at approximately $2 billion, including debt, according to sources familiar with the matter.

The technology-focused buyout firm Thoma Bravo has enlisted Goldman Sachs (GS.N) to manage the sale process for Cority, which may draw interest from other private equity firms, according to sources who requested anonymity due to the confidential nature of the discussions.

Agreements reached between Italy and China following PM Meloni's visit

At the end of July, Italian Prime Minister Giorgia Meloni visited China to enhance cooperation with the world's second-largest economy and reset trade ties after Italy's departure from the Belt and Road infrastructure investment scheme.

On her first visit to Beijing since taking office in 2022, Prime Minister Meloni announced that Italy and China had signed a three-year action plan along with several memorandums of understanding.

REAL ESTATE

• 15-year: 5.93%

• 30-year: 6.52%

*Mortage rates via Mortgage News Daily

MBS Outperforms as Bonds Rapidly Reverse Weekend Rally

Over the past five business days, there has been significant directional movement, with last Wednesday's Fed announcement sparking a substantial rally involving various factors. While the first four days of this volatile period were driven by specific motivations, today's bond market sell-off is largely attributed to a lack of additional incentives.

As of yesterday afternoon, there was some uncertainty about whether the Yen carry trade had fully unwound. Today's trading suggests it has unwound enough to no longer drive significant stock selling and bond buying. Treasuries, in particular, suffered the most damage, both because they had outperformed the previous day and due to the ongoing auction cycle.

4o mini

TECH

Introducing the Long-Shot Candidate Who’s Using AI to Run His Campaign

The intersection of artificial intelligence and politics is complex and challenging. High-level policymakers are grappling with issues like deepfakes and disinformation, while major AI platforms enforce strict limitations on election-related prompts and often prohibit their use by politicians.

One U.S. presidential candidate, though not yet on any ballots, is fully embracing AI. Thomas Ross, who secured the U.S. Transhumanist Party nomination in May 2023, is running his campaign with the help of artificial intelligence. He has even named his generative AI chatbot Emvee and actively seeks its advice.

QUICK RECAP

#1. OMERS and DWS Group agreed to acquire Grandi Stazioni Retail, valued at €1.2-1.3 billion, according to informed sources.

#2. Wall Street forecasts record Q2 revenue for Robinhood, driven by meme stock, cryptocurrency trades, and 'Roaring Kitty' influence.

#3. UK's Hargreaves Lansdown gave CVC Advisers and Abu Dhabi Investment Authority until Aug. 9 to make a £5.41 billion offer.

#4. Quantum Capital Group will acquire Cogentrix Energy for $3 billion from Carlyle Group, amid rising utility investments.

#5. Australia's Woodside Energy (WDS.AX) will acquire OCI Global's $2.35 billion Texas clean ammonia project, advancing green energy.