🚨ETHEREUM JUMPS 4.4% AFTER COOLER-THAN-EXPECTED CPI
Crypto markets rallied as softer inflation data boosted risk-on sentiment.
Bitcoin gained 2%, while $ETH reclaimed the $1,800 level.
⚡️JUST IN: Warren Buffett plans to donate his entire Berkshire Hathaway stake by December 2034.
The 95-year-old is accelerating gifts to four family foundations and, for the first time in two decades, skipping his midyear donation to the Gates Foundation, per Bloomberg.
🇺🇸U.S. CPI COMES IN LOWER THAN EXPECTED
CPI YoY 3.5 % vs Exp. 3.8% | Prior. 4.2%
Core CPI YoY 2.6 % vs Exp. 2.8% | Prior. 2.9%
Softer inflation could revive rate-cut bets, weaken yields and the dollar, and support stocks and Bitcoin.
🇯🇵JUST IN: Japan's largest payment firm JCB signs MoU with Circle to explore USDC payments.
JCB will test Circle's stablecoin, USDC, for cross-border treasury transfers, payments, and merchant transactions.
JCB, which handles ¥53.4T in annual transaction volume, serves 181M+ cardmembers and about 72M merchants worldwide.
🏦BREAKING: Major US banks beat Q2 earnings expectations.
JPMorgan Chase:
- EPS: $7.70 vs. $5.72 expected
- Revenue: $58.02B vs. $50.19B expected
Bank of America:
- EPS: $1.21 vs. $1.13 expected
- Revenue: $31.70B vs. $30.72B expected
Goldman Sachs:
- EPS: $20.98 vs. $14.48 expected
- Revenue: $20.34B vs. $16.13B expected
Wells Fargo:
- EPS: $2.00 vs. $1.72 expected
- Revenue: $22.62B vs. $21.84B expected
Citigroup has yet to report.
🇬🇧JUST IN: The UK adopts “no gain, no loss” tax rules for crypto lending and liquidity pools.
Starting April 6, 2027, users will generally not owe Capital Gains Tax simply for depositing crypto into eligible DeFi arrangements.
Tax will instead apply when users actually make an economic gain or loss. The change is expected to affect around 700,000 people.
🚨JUST IN: The CLARITY Act faces pressure from 78 US banking groups over its stablecoin rules.
In a joint letter to Senate leaders, the groups warned the bill could allow stablecoins to act like bank deposits and pull money away from community banks.
BREAKING: $1.26T Samsung Electronics denies reports of a possible US stock listing, per Reuters.
On Tuesday, Bloomberg reported that the company had held preliminary talks with banks about a potential ADR offering, partly following SK Hynix’s $26.5B Nasdaq debut.
Samsung shares still closed 3.3% higher at ₩263,000 ($176) following the report.
JUST IN: Iran backed Houthis attacked Saudi Arabia for the first time in four years.
The group launched missiles and drones at Abha International Airport after blaming Saudi Arabia for strikes on Yemen’s Sanaa airport.
The attack marks the first major escalation between the two sides since the 2022 ceasefire.
Riyadh has not said whether it will retaliate.
BREAKING: Saudi Arabia and the Houthi's trade strikes on airports in major escalation.
Saudi warplanes have bombed the runway at Yemen’s Sanaa International Airport as an Iranian aircraft carrying a Houthi delegation attempted to land, according to senior Houthi official Hizam al-Assad.
In response, the Houthis launched six missiles at Saudi Arabia’s Abha airport, vowing retaliation after the strike forced the Iranian flight to divert, marking a sharp escalation in regional tensions.
JUST IN: The US has now refunded $81B of up to $175B in Trump tariffs to companies that paid the import duties after many passed the costs on to consumers.
UPDATE: Crypto chief Patrick Witt will take months of military leave starting July 27, leaving a two-week window to advance the CLARITY Act.
Witt already postponed the training from April to remain involved in negotiations, but a second delay was not allowed.
Lawmakers have roughly three and a half weeks left to pass the bill before the Senate’s August recess.
🚨JUST IN: Patrick Witt said lawmakers cannot afford further delays as the bill reaches a decisive stage, coinciding with the first anniversary of the GENIUS Act.
🎥WATCH: CIA DEPUTY DIRECTOR ELLIS ON BITCOIN
"Like law enforcement, we are excited as well because people thought Bitcoin was anonymous.. but i'd say its pseudonymous"
"We can use [bitcoin] to disrupt our adversaries’ use of it and we can use it to collect more intelligence, to gather more information about them."
Credit: Anthony Pompliano.
NEW: FED CHAIR WARSH FACES CONGRESS TODAY
At 10 AM ET, Kevin Warsh will deliver his first Monetary Policy Report testimony as Fed Chair.
Markets will watch for clues on whether persistent inflation could force a rate hike.
Three possible outcomes:
HAWKISH: Rate-hike fears rise. Dollar and yields up. Stocks and crypto pressured.
DOVISH: Hike fears ease. Yields fall. Risk assets could rally.
NEUTRAL: Little new guidance. Markets return their focus to inflation data.
Polymarket currently prices a 36% chance of a rate hike, up from 15% last week.
🎥WATCH: PALANTIR CEO ALEX KARP EXPLAIN SILICON VALLEY IS “OVERSELLING AI”
“The biggest problem in this country is, while it will raise the standard of living of the average person… the people involved are likely to get 10–100x wealthier than they already are.”
🚨HUGE: Telegram's core domain has been suspended by the .me registry
Telegram’s primary domain, t[.]me, has been placed on serverHold status, removing it from the global DNS and potentially rendering all core links inaccessible.
The change took effect today, though neither Telegram, the registry, nor the backend operator Identity Digital have issued any public statements.