☕️ GM! Here are the most important market events over the last 24 hours:
🌍Market Overview:
🔸 Treasury will at least double its long-dated debt buybacks, from $2 billion to at least $4 billion per operation. The 30-year yield tumbled 9 basis points to 5.196% and the 10-year to 4.647%.
🔸 The July Fed minutes pointed the other way. Many participants said tightening would likely be necessary if inflation did not decline, and the 9-3 vote to hold had all three dissenters wanting a hike.
🔸 Trump declared economic warfare on Iran and threatened consequences for any country giving it a lifeline. The UAE halted all trade with Tehran. Brent rose 2.9% to $94.31 a barrel.
🔸 Marvell rallied nearly 10% after a filing let Google buy up to 58,970,907 shares at $206.58 apiece, worth as much as $12.2 billion. Broadcom, Google's long-time custom-chip partner, fell about 5%.
🔸 OpenAI CFO Sarah Friar told an all-hands the lab will be a public company in 2027, sooner if the business keeps inflecting. Her reassurance to staff: we raised $122 billion in March.
🔸 Cantor Fitzgerald will be one of the first investment firms giving clients institutional access to Kalshi, organizing block trades in event contracts. Susquehanna makes the market on the other side.
🪙Crypto Updates:
🔸 Bitcoin took the Treasury news straight up to an eleven-week high, with more than $1 billion of short positions liquidated inside an hour. Ether ran harder still and now trades above $2,200.
🔸 $HYPE jumped 18% to just below record highs after Trump said the CFTC is working to bring Hyperliquid into the US in a fully compliant and legal fashion. Cboe fell 3.5% and CME 1.7% on the same comment.
🔸 Trump pressed Congress for a fair version of the Clarity Act at a White House meeting with Armstrong, Garlinghouse, Tenev and the Winklevosses. The bill returns to the Senate floor in September.
🔸 Grayscale filed a fourth amendment to list its Zcash Trust on NYSE Arca, revealing that DCG International Investments is in non-binding talks to contribute roughly 200,000 $ZEC in exchange for shares.
🔸 Solana is cutting its target slot time from 400 milliseconds to 350 in epoch 1020, and SIMD-0525 trims the per-slot compute budget so shorter blocks do not lift the network's compute ceiling.
🔸 Gnosis Chain is folding into an Ethereum rollup. GIP-153 passed with 123,158 $GNO in support, retiring the chain's own validator set and eventually unlocking about 350,000 staked $GNO.
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