☕️ GM! Here are the most important market events over the last 24 hours:
🌍Market Overview:
🔸 Nvidia's revenue more than doubled to $96.22 billion and net income cleared $53.95 billion, but the guide did the damage: CFO Colette Kress put fiscal 2028 growth at 70% against the 44% analysts modeled.
🔸 Meta agreed to pay $16.7 billion to settle the state attorneys general case over child mental health harms. California alone could take $1.5 billion to $2.1 billion, and Texas settled separately for another $1 billion.
🔸 Z.ai released GLM-5.3-Flash, which ranks 10th on the Artificial Analysis Intelligence Index, ahead of DeepSeek V4 Pro Max. The company says 100,000 China-made chips serve every request, and shares rose over 8%.
🔸 Initial jobless claims fell to 203,000 in the week ending Aug. 22, down from a revised 207,000 and below the 208,000 expected. Jackson Hole opens under Chair Kevin Warsh, who gives his first keynote Friday.
🔸 Anthropic signed a roughly $45 billion cloud deal with Nscale, renting about 460 megawatts at a West Virginia data center running Nvidia's Vera Rubin chips. The site is expected to come online at the end of 2027.
🔸 Iran's Revolutionary Guard says Tehran reached a deal with Oman to share control and revenue from the Strait of Hormuz, with ships entering through Iranian waters. Brent settled 74 cents lower at $87.84 a barrel.
🪙Crypto Updates:
🔸 The SEC sent its custody rule overhaul to the White House budget office on Aug. 25, the step before a commission vote and a public comment period. It would set how advisers and funds hold client crypto.
🔸 Bitcoin confirmed its first quantum-safe mainnet transaction on Aug. 26, using a scheme that needs no new opcodes and no soft fork. The off-chain search behind each spend runs $75 to $150 on cloud GPUs.
🔸 LayerZero unveiled ATLAS, a trading and settlement engine on its Zero chain that venues plug into rather than build themselves, and $ZRO climbed more than 16%. It is provisioned for 200,000 transactions per second.
🔸 Coinbase and Better Mortgage opened their Bitcoin-backed mortgage to qualified US buyers. Borrowers pledge $BTC worth at least 250% of the down payment, so $100,000 down needs $250,000 of collateral posted.
🔸 Core Lightning confirmed multiple vulnerabilities in its Bitcoin Lightning software and told node operators to install the coming patch or restart with the offline flag, which stops payments routing through the node.
🔸 Britain will give the Bank of England a statutory objective supporting innovation in payments, stablecoins and digital money, subordinate to financial stability, via amendments to the Financial Services and Markets Bill.
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