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π½ (1/5)
Happy Friday all!
If you missed the past 24 hours in crypto and stocks, here's your full recap:
π¨ Major Headlines & Market Moves π¨
- $BTC is trading around $81,750, down about 1% in 24 hours, as $383M in long positions were liquidated across the crypto market.
- US spot Bitcoin ETFs saw $528M in inflows yesterday, bringing this week's total to $1.07B so far.
- Bitcoin dominance climbed past 60%, its highest level in 5 months, as new capital keeps flowing into Bitcoin.
- Bitcoin's hashrate jumped to its highest level in 7 months, even as some miners shift to AI infrastructure.
- Alpha Modus acquired 3,170 Bitcoin worth $258M in Q3.
- Robinhood HOOD got approval from the Dubai Financial Services Authority to launch Bitcoin and crypto trading in the Middle East, while Bybit also received approval to operate in Dubai.
- Stand With Crypto reports that 67 million Americans now own crypto.
- Over $750B was wiped out from the US stock market at the open, and the Nasdaq closed down 2.6% and the S&P 500 down 1.2% while the Dow ended flat, as semiconductors sank about 6.5% and money rotated into defensive sectors.
- Oil topped $112 as Brent crude jumped about 3% on renewed Middle East supply fears.
- Gold and silver dumped, with spot silver down nearly 5% at $55.17, while central banks are quietly stockpiling 4x more gold than usual and moving it out of the US.
- $200B in SpaceX SPCX shares officially unlocked for trading, as BofA raised its price target to $275 from $235.
- The US Treasury proposed new rules to block American investments in AI and semiconductors for certain foreign countries.
- Morgan Stanley, Bank of America, JPMorgan and Wells Fargo detected unauthorized AI agents accessing customer accounts and trying to act without user instructions.
- Barclays BCS plans to cut about 5,000 jobs this year as it pushes into AI and automation.
- China's stock market officially entered a bear market.
- Kalshi traders see an 88% chance the Fed holds rates this month, while Turkey cut rates by 100 bps to 36%.
- Western Digital WDC beat with $4.38B in revenue and guided Q2 revenue to $5.1B, up 69%, while Bloom Energy BE grew revenue 138% and raised its full year guidance.
- Spotify SPOT jumped 8% on 306M paying subscribers, while Lam Research LRCX fell 10% despite beating earnings, and RingCentral RNG surged about 12% after hours.
- Earnings today before the bell: AXP and SLB headline the slate.
π Altcoin Market Updates π
- ETH is trading around $2,407, down about 1% in 24 hours.
- Circle minted 1.5B USDC on Solana in the past 24 hours.
- SoFi SOFI launched FDIC insured tokenized deposits.
- Franklin ETF clients bought $2.25M worth of XRP.
- Uniswap's aggregator hooks went live on Ethereum, Base and Robinhood Chain, with Fluid, Curve and PancakeSwap among the external liquidity sources at launch.
- Morpho now lets users borrow stablecoins against Robinhood stock tokens as collateral.
- Backpack's securities issued AMZN token goes live on Solana via Sunrise.
- NEAR Protocol launched Hyperliquid powered cross margin, letting positions share one perps balance as margin.
- Square Tech signed an MOU with GOAT Network to explore AI agent powered stablecoin payments in South Korea.
- Fomo says its crosschain swaps now land in under 1 second.
- Bubblemaps says the trader behind the viral TRUMP win didn't make $40M, tracing only $6M in profits.
- MACCA surges on Robinhood Chain as traders speculate on GTA 6's Macca the Gator mascot.
- In France, three masked men tied up a couple in their 60s at home at 3am, demanding crypto before fleeing with a laptop and phone.
If you enjoyed this daily roundup, make sure to follow me, I'll see you tomorrow!
BTC SPY QQQ OIL SMH