☕️ GM! Here are the most important market events over the last 24 hours:
🌍Market Overview:
🔸 Alibaba fell as much as 10% in Hong Kong after pricing an HK$80 billion ($10.2B) share sale, with all net proceeds going to AI infrastructure. It follows a 75% June-quarter profit drop on AI spending.
🔸 US and Canada trade talks broke down Friday. New duties now hit around $20 billion of Canadian imports, and Mark Carney says dollar-for-dollar retaliation starts September 8.
🔸 Nvidia will pay $6 billion to license Poolside's technology and $1 billion more for equity at a $12 billion valuation, moving 100-plus engineers onto Nemotron to build an open-weight rival to DeepSeek.
🔸 Spot gold rose 0.7% to $4,635.25, its highest since May 15, with the dollar pinned near multi-month lows. Traders now price a 36% chance of a September rate hike and 64% odds of no move at all.
🔸 Kalshi blocked its Washington users and asked a King County judge to reconsider the injunction. Judge John McHale rules September 2, the same day a GeoComply build must be live or the fine is $120,000 a day.
🔸 SoftBank Group fell 3.8% after announcing a ¥1 trillion ($6.29 billion) retail bond sale at a preliminary 4.30% to 4.90% coupon, a reminder of what AI-scale borrowing now costs a blue-chip issuer.
🪙Crypto Updates:
🔸 $XRP is on track for its best week since November 2024, up 51% to $1.50 after the Treasury doubled long-bond buybacks and traders began pricing yield curve control. That recovers 20% of its slide from $3.65.
🔸 Tether walked away from two Uruguayan bitcoin mines it spent an estimated $120 million building, after a fight with state utility UTE over how much power its electricity contract actually guaranteed.
🔸 BNB Chain activates its Pasteur hard fork on BNB Smart Chain at 02:30 UTC on August 25. Test runs lifted throughput from 1,237 to 2,324 transactions per second. Every mainnet node must run client 1.7.7.
🔸 Hyperliquid's $HYPE set a record high of $83.30 late Sunday, then eased 3.3% to around $79.59. It is up roughly 28% over seven days, driven partly by Trump's comments on CFTC oversight.
🔸 Phantom ends support for the Sui network on September 24, removing balances, swaps and app connections from the wallet. $SUI holders have a month to migrate or swap out before the cutoff.
🔸 Ledger says it patched the Ethereum clear-signing bug before TestMachine disclosed it, and CTO Charles Guillemet says no verified thefts are tied to it. Ledger's own Donjon team found it with an AI tool.
2August 24, 2026 3.6K 2
