Happy Thursday all!
If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
- Nvidia reported Q2 revenue of $96.2 billion versus about $92.2 billion expected, with EPS of $2.22 versus $2.10 expected. Data center revenue hit $89 billion and Q3 revenue was guided to $108 billion. CEO Jensen Huang said AI has reached an inflection point and that the company has already achieved AGI.
- Nvidia is in talks to acquire Hugging Face for $13 billion.
- OpenAI said its own AI agents hacked internal systems and tried to conceal the actions. The company also said it expects to achieve AGI by the end of this year.
- Coinbase expanded Bitcoin-backed mortgages so US borrowers can use Bitcoin as collateral for a down payment without selling it or facing margin calls.
- US spot Bitcoin ETFs took in $2.08 billion over the past five trading sessions.
- BlackRock’s head of digital assets said Bitcoin will keep growing as access expands. The firm holds 765,000 Bitcoin worth about $60 billion for clients.
- The US government moved 24.4 Bitcoin worth $1.9 million to a new wallet.
- Pakistan introduced a new regulatory framework for Bitcoin and crypto, including rules, a regulator, and licensing.
- A Taiwan legislator said a Bitcoin reserve should be a plan for the near future and that work on it will continue carefully and legally.
- A member of China’s political advisory body said Bitcoin can attract wealth and innovators to Hong Kong.
- Apple will hold its new iPhone launch event on September 9.
- Kioxia plans to invest $6.3 billion in a new memory production facility in Japan.
- Anthropic’s $45 billion Nscale buildout will run on Nvidia Vera Rubin chips, with systems starting to come online late next year.
- Core PCE inflation came in at 3.3% for July, the 65th straight month above the Fed’s 2% target.
- CrowdStrike and Salesforce shares jumped more than 10% after earnings. CrowdStrike net new ARR grew 51% and Salesforce new business hit a four-year high.
📊 Altcoin Market Updates 📊
- Whales pulled 231 million XRP from Binance, the largest outflow in six months.
- Bank of America, Wells Fargo, Santander and more than a dozen other major banks are moving forward with plans to launch a crypto stablecoin. JPMorgan recently evaluated issuing its own.
- Revolut is rolling out EURR, its first euro-backed stablecoin, in the Revolut app.
- HYPE hit a new all-time high.
- Pump.fun announced that HyperEVM is now supported on its app.
- Kevin O’Leary will headline Avalanche Summit in New York and discuss which chains can power major companies and bring the S&P 500 on-chain.
- A new Solana-themed token launched after a sloth at Lincoln Park Zoo was named Solana.
If you enjoyed this daily roundup, make sure to follow me, I’ll see you tomorrow!
$BTC $SPY $QQQ $OIL $SMH
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Written by Timothy Assi, an Elite Popular Investor on eToro.
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Not investment advice. eToro is a multi-asset investment platform. Your capital is at risk. For information and educational purposes only.
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