Happy Wednesday all!
If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
- Bitcoin ETFs saw a $337.56 million inflow during trading hours yesterday.
- The Wall Street Journal featured a full-page Bitcoin ad with the message “The fringe phase is officially over.”
- Thailand’s SEC advances regulations to introduce spot Bitcoin and Ethereum ETFs, aiming to broaden investment opportunities and set standards for offshore custody of digital assets.
- Fairlead Strategies founder told CNBC that Bitcoin is not overbought yet, looking for more upside.
- ProCap Financial CEO Anthony Pompliano said on Fox Business that as long as they keep printing money, Bitcoin is going to keep going up over the long run.
- Canada imposes 15%-50% tariffs on roughly $20 billion of U.S. goods, including doubling tariffs on U.S. steel products to 50% from 25%, and expects a long trade war while preparing to ride out the current U.S. administration.
- President Trump stated that Canada charges U.S. farmers 400% tariffs.
- U.S. national debt has reached $40 trillion and now exceeds 123% of GDP.
- Japan is set to launch a blockchain-based system for instant settlement of stocks and government bonds.
- China warns that U.S. sanctions on Iran could disrupt the global economy and indicated it could retaliate.
- OpenAI says its new Jalapeno AI chip beat Nvidia’s GB300 in power efficiency and response speed during testing.
- SpaceX unveils plans for a $100 billion “Starbase, Louisiana” spaceport to support thousands of Starship flights per year.
- Zoom reported Q2 revenue of $1.277 billion (up 4.9% YoY, beating estimates) and adjusted EPS of $1.55 (beating estimates), with enterprise revenue growth at a three-year high; full-year adjusted EPS guidance raised.
- Intuit reported Q4 revenue of $4.35 billion (up 14% YoY, beating estimates) and adjusted EPS of $4.03 (beating estimates), but slower full-year growth guidance sent shares lower after hours.
- Dick’s Sporting Goods reported Q2 revenue and adjusted EPS below estimates, cut full-year adjusted EPS outlook, and saw shares drop sharply premarket amid Foot Locker weakness.
- Scotiabank reported a record quarter with revenue up 11% YoY and adjusted EPS up 21% YoY, ROE at 14.2%.
- Bank of Montreal reported adjusted EPS up 22% YoY and adjusted ROE of 14.0%, though reported net income fell due to a goodwill charge.
📊 Altcoin Market Updates 📊
- RLUSD crossed $2 billion in market cap last week, with close to $1 billion issued on the XRP Ledger.
- Tron blockchain hits a new milestone of 400 million accounts.
- Solana briefly surpassed $100.
- A Telegram number sold for 666,666 Gram (around $995,000).
- The original Pepe whale known as Delta made his first FOMO buy in $Gasspas, calling it his next Pepe trade.
- New social trading app Invoxyz passed Trust Wallet for the number 2 spot in monthly Hyperliquid builder code volume.
- Funded Protocol launches the first decentralized prop firm infrastructure on Robinhood Crypto, enabling anyone to deploy capital into prop firms; first live application is TheNews, a prop firm built on real-world event data.
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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