Good morning, Coin Discoverers!

CRYPTO

• BTC: $64,076.50(-0.83%)YTD (+45.06%)

• ETH: $3,193.78(-1.18%)YTD (+35.75%)

• BNB: $573.16 (-0.75%)YTD (+82.57%)

*Crypto numbers as of 5:00 am EST on August 1th

A16z Crypto backs Daylight's $9M round

Daylight, a project specializing in decentralized physical infrastructure networks (DePIN) for energy distribution, has secured $9 million in a Series A funding round, with A16z Crypto leading the investment.

According to Badeaux, the Series A funding round has increased Daylight's total funding to $13 million. This follows a previous $4 million seed funding round in the summer of 2022.

Tether reports massive profit

Tether Holdings Limited, the company behind the world's largest stablecoin USDT, has announced a profit of $5.2 billion for the first half of 2024, as stated in its latest quarterly attestation report.

According to Tether, this profit marks a record for the company, which claims to have reserves of $118.4 billion supporting its tokens, against liabilities of $113.1 billion. Despite what seems to be a discrepancy in its reported Bitcoin holdings, the results of the attestation by global accounting firm BDO might surprise critics. These skeptics have often questioned Tether's reserves and its regulatory challenges.

Trump is selling a limited edition of "Crypto President" Bitcoin-themed sneakers

CIC Ventures, owned by Donald Trump, is marketing a limited-edition pair of sneakers called "Crypto President" to appeal to fans of both Trump and cryptocurrencies.

The high-top sneakers, available in "Bitcoin Orange," are priced at $499, with only 1,000 pairs produced. Each pair is numbered, and five randomly selected pairs are autographed by Trump. The shoes, set to ship between September and November this year, commemorate the first appearance of a US president at the Bitcoin Conference.

Tucker Carlson Loves Bitcoin ……………But

Notable political commentator Tucker Carlson has expressed significant respect for Bitcoin and appears quite confident about the identity of its creator.

At a private event on Friday during Bitcoin 2024, the former Fox News host discussed in detail why he believes cryptocurrency is the best tool for achieving financial sovereignty, despite his claim that it was invented by the Central Intelligence Agency (CIA).

Carlson remarked with a laugh, “Obviously, it was the CIA; we all know that. It’s like Signal—they were there first. It’s a honeytrap!”

STOCKS

• DOW: 40,842.79(+0.24%)

• S&P: 5,522.30 (+1.58%)

• NASDAQ: 17,599.40 (+2.64%) 

*Stock numbers as of market close on July 31th

Mastercard eases spending worries with a strong profit performance

Mastercard (MA.N) exceeded second-quarter profit expectations and reassured investors that spending remains stable, addressing concerns about customers' financial health following warnings from several companies about pressure on low-income households.

The company's strong performance was driven by significant growth in key international markets such as Europe and Latin America, along with a robust U.S. consumer base, according to their statement on Wednesday.

KKR's net income for the second quarter jumps 49% due to increased fees

Private equity firm KKR & Co (KKR.N) announced on Wednesday that its second-quarter adjusted net income surged 49% year-over-year, thanks to a rise in management, transaction, and performance fees, along with earnings from its annuities business.

KKR's adjusted net income increased to $972 million from $653 million the previous year, resulting in an adjusted net income per share of $1.09. This exceeded the average analyst estimate of $1.07, according to LSEG data.

REAL ESTATE

• 15-year: 6.29%

• 30-year: 6.78%

*Mortage rates via Mortgage News Daily

Comparison of Old and New Fed Statements with Highlighted Changes

Recent indicators suggest that economic activity continues to expand at a solid pace. Job gains have remained strong but have moderated slightly, and while the unemployment rate has edged up, it remains low. Inflation has eased over the past year but remains somewhat elevated. There has been modest progress towards the Committee’s 2 percent inflation objective in recent months.

The Committee aims to achieve maximum employment and maintain inflation at 2 percent over the long term. It assesses that the risks to reaching its employment and inflation goals have improved over the past year. However, the economic outlook remains uncertain, and the Committee remains highly attentive to inflation risks and the potential impacts on both sides of its dual mandate.

TECH

Intel secures victory in the UK segment of the global patent dispute with R2 over chip technology

On Wednesday, Intel (INTC.O) won the London portion of its global patent dispute with U.S. rival R2 Semiconductor, which had been seeking an injunction that could have halted the sale of certain Intel chips.

In 2022, R2 sued Intel in London's High Court, alleging that Intel had violated its patent by selling chips and processors with fully integrated voltage regulators.

Intel filed a counterclaim seeking to invalidate R2's patent, which pertains to on-chip power supplies for computer microprocessors. The High Court ruled in Intel's favor on Wednesday.

QUICK RECAP

#1. HSBC Holdings (HSBA.L) announced a $3 billion share buyback and improved its income outlook amid global interest rate cuts.

#2. Toyota Motor (7203.T) is expected to report double-digit growth for hybrids in its earnings, but slowing profits.

#3. Bunge Global (BG.N) missed Wall Street’s Q2 profit expectations, causing an 8% share drop due to lower margins.

#4. Apex Capital Trust has offered up to $43 billion in cash to acquire Paramount Global (PARA.O), surpassing Skydance's deal.

#5. Private equity firm Astorg is considering selling its IQ-EQ fund services unit, potentially valued at over €4 billion ($4.33 billion).