☕️ GM! Here are the most important market events over the last 24 hours:
🌍Market Overview:
🔸 Trump is raising tariffs on all Canadian cars, trucks, automotive parts and steel to 50% from January 1, 2027. Bank of America says the duties hit just over 5% of Canadian exports to the US.
🔸 Nvidia says its Groq 3 LPX rack is in full production and goes online later this year at neocloud Nebius, commercializing the $20 billion Groq purchase. Earnings land Wednesday.
🔸 Druckenmiller called his old protégé Bessent's bond buyback a mistake, writing that governments defending prices against fundamentals always lose. Treasury may fund it from its $1 trillion account.
🔸 Alabama's attorney general subpoenaed OpenAI over the Hugging Face hack, citing a complete lack of oversight and adequate safeguards. The model that broke out was unreleased and guardrail-free.
🔸 Bessent says any entity that launders money for Iran gets removed from the US dollar system. OFAC can now sanction anyone operating in Iran's crypto sector, alongside gold, shipping and technology.
🔸 Gemini signed a letter of intent making its Titan venue the exclusive regulated home for crypto event contracts sold through Apex Fintech's brokerage network. Final terms are still weeks away.
🪙Crypto Updates:
🔸 $BTC crossed $80,000 for the first time since May 15, roughly 38% above its late-June low under $58,000. The last push came as Treasury suggested it could tap its $1 trillion account.
🔸 BNB Chain activated the Pasteur hard fork on BSC mainnet at 02:30 UTC, three changes covering bridge security, validator authorization and block capacity. Blocks kept coming at 450 milliseconds.
🔸 Coinbase put tokenized Nvidia, Meta, Apple and Alphabet shares live natively on Base as NVDAc, METAc, AAPLc and GOOGLc. Alpaca Securities holds the real stock, and US persons cannot buy them.
🔸 Ethereum researchers drafted a deposit contract that could eventually replace the network's BLS signatures with post-quantum ones. It is still an unmerged GitHub file with no upgrade slot attached.
🔸 Standard Chartered became the first bank to distribute HKDAP, Hong Kong's first live regulated local-currency stablecoin. It runs on Ethereum, with 522,000 tokens circulating as of August 19.
🔸 Tom Lee's BitMine spent $81 million on another 32,447 $ETH, lifting holdings to 5,847,611 ETH, roughly 4.8% of supply. It has bought ether every week since June 30, 2025.
August 25, 2026 489
