Happy Friday all!
If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
Bitcoin dropped toward $77,000
U.S. PPI rose to 5.4%, above expectations, pushing the odds of a Federal Reserve rate hike next week to around 64%.
The bond market has flipped from pricing two cuts at the start of the year to two hikes.
The ECB hiked rates by 25 bps to 2.50%, its second increase this year, citing inflation remaining well above target as oil prices climb.
Brent crude surged about 5% to $108, the highest level since May. Saudi Arabia oil production fell to its lowest level in 36 years.
The 30-year U.S. mortgage rate sits at 6.76%, the highest since June 2025. Compared with 10 years ago, higher rates and home prices have sharply increased down payments and monthly payments.
President Trump said he does not need congressional approval to issue $5,000 dividend checks to adult Americans. The idea would cost roughly $1.2 trillion and would add to the deficit unless offset by cuts or new revenue.
Treasury Secretary Bessent said the U.S. will sanction a large bank next week.
Senate Republicans released an updated draft of the Crypto Clarity Act ahead of a possible floor vote next week. Coinbase CEO Brian Armstrong said the bill is “right on the finish line.” Sen. Cynthia Lummis said Democrats helped write it and now need to vote for it. A White House official said progress has been made on outstanding concerns.
Nasdaq invested in Kraken parent Payward at a $21 billion valuation.
Oracle reported a strong quarter: revenue $19.3B–$19.4B (+30% YoY), cloud revenue +62%, OCI +121%, with a beat on EPS. Capex remains heavy as it builds for AI demand.
Adobe also beat and raised its full-year guide, with AI-first ARR up 150% YoY.
Sam Bankman-Fried asked the Supreme Court to overturn his fraud conviction.
OpenAI launched ChatGPT for Financial Services to help research markets and build models.
U.S. lawmakers are considering requirements for “kill switches” to shut down AI systems if they become too dangerous. Anthropic said China and Russia attempted to use Claude for cyberattacks, weapons design, propaganda, and mass surveillance.
đź“Š Altcoin Market Updates đź“Š
Bitwise is shutting down its Dogecoin ETF less than a year after launch.
Metamask expanded Tron connectivity, giving users easier access to Tron’s DeFi ecosystem and a large pool of circulating USDT.
Robinhood Chain DEX liquidity surpassed $100 million. X added support for Robinhood Crypto chain tickers. $Kermit rallied after becoming the first project on the chain to integrate Grok.
Nu, one of the world’s largest digital financial platforms with more than 140 million customers, is integrating Circle stablecoins into a new multi-currency digital account.
Hong Kong-listed Boyaa Interactive bought another 115 Bitcoin, bringing its treasury to 4,316 BTC.
Charles Schwab’s fund family disclosed $4.8 million in XRP ETF shares used as collateral across several issuers.
The Pump.fun app was reported missing from the U.S. App Store.
The Base app was rebranded back to Coinbase Wallet.
If you enjoyed this daily roundup, make sure to follow me, I'll see you tomorrow!
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Written by Timothy Assi, an Elite Popular Investor on eToro.
Not investment advice. eToro is a multi-asset investment platform. Your capital is at risk. For information and educational purposes only.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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