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CRYPTO

• BTC: $64,402.90(+0.49%)YTD (+45.80%)

• ETH: $3,405.40(+0.53%)YTD (+44.74%)

• BNB: $576.28 (+1.15%)YTD (+83.28%)

*Crypto numbers as of 5:00 am EST on July 18th

TON Foundation enhances Bitcoin utility with TON Teleport BTC

The Open Network (TON) Foundation, overseeing the Telegram-focused blockchain network TON, has announced upcoming infrastructure to enhance Bitcoin utility on the platform.

The new infrastructure, TON Teleport BTC, facilitates transfers between Bitcoin and TON. It aims to enhance Bitcoin's use cases within the TON ecosystem, including decentralized exchanges, lending protocols, and other DeFi applications.

Grayscale launches new fund for decentralized AI

Grayscale Decentralized AI Fund LLC aims to boost AI investment in the cryptocurrency industry. The fund will focus on three areas: AI services, solving issues related to centralized AI, and developing AI infrastructure.

As of today's launch, the Decentralized AI Fund includes Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR). Near, Filecoin, and Render are the fund's top-weighted assets.

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XRP surges 40% in a week, surpassing Solana's trading volume

XRP, Ripple's native token, has surged over 40% in the past week due to a series of positive developments for the cryptocurrency.

These developments include the introduction of new financial instruments for XRP and a potential shift in the regulatory landscape.

According to CoinGecko, XRP is priced at $0.6097, marking a 7.2% increase today and a 40.6% rise over the week. XRP's 24-hour trading volume reached $4.39 billion, surpassing Solana's $2.78 billion, solidifying its stature in the cryptocurrency market.

Maelstrom announces a $250K Bitcoin grant program

Arthur Hayes’ Maelstrom fund has initiated a significant Bitcoin grant program, offering up to $250,000 to incentivize developers and advance the technical evolution of the pioneering blockchain network.

Named the Maelstrom Bitcoin Grant Program, it offers developers annual grants ranging from $50,000 to $150,000, potentially stacking up to $250,000 per developer. The program aims to support open-source Bitcoin development, enhancing the network’s resilience, scalability, censorship resistance, and privacy capabilities.

STOCKS

• DOW: 41,198.10(+0.59%)

• S&P: 5,588.27 (-1.39%)

• NASDAQ: 17,996.92 (-2.77%)

*Stock numbers as of market close on July 17th

Apple commits $50 million to fund affordable housing initiatives in the Bay Area

Apple is teaming up with the philanthropic branch of real estate firm Sobrato and two other California-based organizations to establish a fund with an initial $50 million investment to support affordable housing projects in the San Francisco Bay Area.

According to Apple on Wednesday, the Bay Area Housing Innovation Fund is part of the company's 2019 commitment to invest $2.5 billion in affordable housing throughout California.

Samsung agrees to acquire Oxford Semantic, a British startup specializing in AI

On Thursday, Samsung Electronics (005930.KS) announced its agreement to acquire Oxford Semantic Technologies, a British startup specializing in advanced artificial intelligence (AI) applications.

Samsung did not reveal the deal's value. In a statement, Samsung explained that Oxford Semantic Technologies specializes in knowledge graph technology, which organizes information as an interconnected web of related concepts, mimicking human reasoning. This technology can enhance AI personalization, such as on-device AI for Samsung phones.

REAL ESTATE

• 15-year: 6.32%

• 30-year: 6.83%

*Mortage rates via Mortgage News Daily

A quiet beginning and a calm schedule ahead

Today's economic calendar was packed, but Housing Starts and Industrial Production passed without impact on the bond market. Instead, focus centered on Fed's Waller suggesting rate cuts might be nearing based on likely policy scenarios.

While somewhat cryptic, Waller essentially likened the scenario to three bowls of porridge, favoring the warm one. Bonds briefly rallied before returning to the overnight session's prevailing trend.

TECH

Anthropic launches Claude AI app on Android platform

Anthropic has launched its Claude mobile app for Android users, following its release on the Google Play Store, which comes two months after the iOS launch in May.

Anthropic states that Claude provides seamless multi-platform support, allowing users to continue conversations across web, iOS, and Android versions of the generative AI model. The Claude app also includes vision features, enabling real-time image analysis through new photos or uploaded files.

QUICK RECAP

#1. Darden Restaurants (DRI.N) agreed to acquire Chuy's Holdings (CHUY.O) in an all-cash deal valued at $605 million, Wednesday.

#2. Capital One (COF.N) will commit $265 billion over five years to lending, philanthropy, and investment if it acquires Discover Financial (DFS.N).

#3. Alaska Air Group (ALK.N) predicted Q3 profit below estimates, citing a 32% pay hike for flight attendants.

#4. Discover Financial Services (DFS.N) plans to sell a student loan portfolio to Carlyle (CG.O) and KKR (KKR.N) for up to $10.8 billion.

#5. Spanish fund Asterion will buy 49% of a holding company owning multiple Italian airports, including Milan's, from Ardian and Credit Agricole.