Good morning, Coin Discoverers!

CRYPTO

• BTC: $57,901.00(-4.57%)YTD (+31.08%)

• ETH: $2,703.88(-6.82%)YTD (+14.92%)

• BNB: $497.21 (-6.02)YTD (+58.40%)

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

ZKX investors, market makers surprised by abrupt shutdown

Investors and market makers associated with the recently closed ZKX decentralized exchange express surprise at the sudden shutdown, stating they were given no prior notice.

The founder of ZKX has refuted investors' allegations of a rug pull, asserting that providing advance notice would have jeopardized the protocol.

Amber Group, which identifies itself as both an investor in and market maker for ZKX, stated that it currently holds 3 million ZKX tokens. This amount comes after repaying half of its initial 2 million token loan and acquiring an additional 2 million tokens for market-making activities.

U.S. spot Bitcoin ETFs experienced their largest single-day outflow in 90 days

On Friday, U.S. spot Bitcoin ETFs recorded a daily net outflow of $237 million, the highest single-day outflow since May 1 and the fourth largest since their launch in January. Spot Ether ETFs also experienced outflows, although the total outflow level was generally smaller compared to recent days.

Grayscale's newly launched Bitcoin Mini Trust (BTC -3.74%) was one of only two ETFs to record an inflow, attracting an additional $9.88 million. BlackRock's IBIT, the other ETF with positive inflows, saw nearly $43 million added.

Is Hamster Kombat (HMSTR) Now Available on Binance?

In a move that has sparked curiosity and excitement within the crypto community, Binance, the world’s largest cryptocurrency exchange, seems to have added Hamster Kombat (HMSTR) to its platform or at least hinted at listing it soon.

The potential listing of Hamster Kombat on Binance has ignited enthusiasm and interest among crypto enthusiasts.

The crypto community has responded with enthusiasm, anticipating potential growth and new opportunities linked to HMSTR. With this addition, there is high expectation for an official listing of the HMSTR token in the near future.

This Week in Crypto Games: 'Hamster Kombat' and 'Catizen' Postpone Airdrops While 'Notcoin' Unveils New Game

Stay updated with the latest in crypto and NFT gaming news and discover some weekend reads in our newest roundup.

The crypto and NFT gaming scene is more active than ever, with major game releases, numerous token airdrops, and a steady stream of other developments. It’s a lot to keep track of!

STOCKS

• DOW: 39,737.26(-1.51%)

• S&P: 5,505.00 (-0.71%) 

• NASDAQ: 16,776.16 (-2.43%)

*Stock numbers as of market close on August 2th

Venture Global LNG is suing Kiewit, accusing the company of sharing confidential documents with Shell

On Friday, U.S. liquefied natural gas company Venture Global LNG filed a lawsuit against construction contractor Kiewit, claiming that Kiewit shared confidential documents with Shell Plc (SHEL.L).

Venture Global LNG's Calcasieu Pass plant has been at the heart of an ongoing dispute involving energy companies such as BP Plc (BP.L), Shell, and others over access to LNG from the facility.

In a filing with the New York State Supreme Court, Venture Global stated, "Kiewit was given this information to facilitate its work on constructing a natural gas liquefaction and export terminal in Cameron Parish, Louisiana, developed by Venture Global."

BNP Paribas's acquisition of AXA's fund business sparks optimism for additional deals

Bankers anticipate that BNP Paribas's (BNPP.PA) discussions to acquire AXA's (AXAF.PA) investment business will lead to further deals. European money managers are looking to counter U.S. competitors and meet customer demand for cost-effective, technology-driven investing solutions.

The French bank announced that it is in exclusive talks to acquire AXA Investment Managers for over 5 billion euros ($5.5 billion). This deal would establish one of Europe's largest fund groups, managing approximately 1.5 trillion euros in assets.

REAL ESTATE

• 15-year: 5.89%

• 30-year: 6.40%

*Mortage rates via Mortgage News Daily

Rates Drop as the Market Embraces the Major Shift

The events of this past week highlight a significant turning point in the ongoing narrative of shifting away from the generationally high rates observed at the end of 2023. Despite a bumpy road, the past three months have been relatively favorable for those advocating for lower rates, showing progress since the high rates of late 2023.

Indeed, the last three months represent the first successful breakthrough against what had seemed like a recurring pattern of false starts toward lower rates. Over the past two years, 10-year Treasury yields have made three attempts to decrease by more than half a percent, only to be thwarted by rising rates in previous instances. Had rates increased slightly a few months ago, this pattern might have continued.

TECH

Introducing Flux: The New Open-Source AI Image Generator Outperforms Midjourney, SD3, and Auraflow

Black Forest Labs, the team behind the original Stable Diffusion, has introduced Flux, the largest open-source text-to-image model to date. With an impressive 12 billion parameters, Flux offers visuals that rival those of Midjourney and potentially surpasses all other models available, whether open or closed source.

Flux is available in three versions: Flux Dev, an open-source model with a non-commercial license for community development; Flux Schnell, a faster, distilled variant that operates up to ten times quicker, offered under an Apache 2 license; and Flux Pro, a closed-source version accessible via an API.

QUICK RECAP

#1. Iberdrola (IBE.MC) will acquire a majority stake in Electricity North West (ENWL) for around 5 billion euros ($5.4 billion), expanding in Britain.

#2. Engie CEO Catherine MacGregor revealed on Friday that Engie offered to buy a UK asset, but the offer was rejected.

#3. British Airways owner IAG's (ICAG.L) shares climbed over 7% on Friday, following a strong Q2 and Air Europa deal cancellation.

#4. India's Ola Electric has set the institutional portion of its IPO at 76 rupees ($0.9076) per share, aiming to raise $330 million.

#5. Ayala Corp (AC.PS), one of the Philippines' oldest conglomerates, has purchased an additional 8% stake in Mynt (Globe Fintech Innovations) for 22.9 billion pesos ($393.07 million), raising its total ownership to 13%.