BeInCrypto SE

In brief
Neuralink showed a mind-controlled Grok agent and speech sent to iPhone calls.
ARK Venture Fund holds Neuralink, but ARK says it is not open to international investors.
PreStocks' Neuralink token does not provide shares or shareholder rights and trades very little.
Read the original story, Elon Musk Sells a Telepathic Future: Can You Invest Before the IPO?, by Phil Haunhorst at se.beincrypto.com

In brief
South Africa’s crypto economy grew by 52% to USD 39.3 billion despite a bear market.
One asset now matches Bitcoin in the region’s peer-to-peer transfers.
South Africa’s central bank is revisiting its proposal on limits for cross-border crypto transactions.
Read the original story South Africa’s crypto grew by 52% in a bear market. Then came the licensing requirements by Kamina Bashir on se.beincrypto.com

In brief
CZ says Binance is short by about $2 billion after the $6.3 billion hack.
He points to SpaceX shares worth over $1 billion from a 2022 Twitter bet.
Lockup rules and a fluctuating SPCX price determine whether that stake can be sold.
Read the original story: Elon Musk jokes about the Binance hack, and CZ reminds him about the SpaceX investment, by Lockridge Okoth on se.beincrypto.com

In brief
Shiba Inu team urges caution after a $20 million liquidation wave.
Longs lost $12.9 million but still outnumber shorts by 2.71 to 1.
92 billion SHIB have flowed into exchanges on a net basis.
Read the original story Shiba Inu team urges traders to be cautious after a $20 million liquidation wave by Phil Haunhorst on se.beincrypto.com

In brief
WTI crude reached $106.2 after Iran said mines struck four tankers near Hormuz.
CENTCOM chief Adm. Brad Cooper reportedly briefed Trump on military options against Iran.
Polymarket gives the US-Iran ceasefire an 83% chance of holding through the midterm elections.
Read the original story “Oil Hits 1-Month High as Next Week’s Midterms Become a Test for Iran” by Kamina Bashir on se.beincrypto.com

In brief
The Bank of Japan kept its policy rate at 1.25% after an 8–1 vote.
The sole dissenter wanted interest rates to move toward the neutral level more quickly.
The Fed also held rates steady this week, while the Bank of Canada raised rates.
Read the original story Bank of Japan holds rates after a week in which all dissenting votes favored a hike by Kamina Bashir on se.beincrypto.com

In brief
Fidelity’s Jurrien Timmer says rising interest rates could hurt stocks if earnings lag behind.
He says the market is not in a bubble as long as margins and spreads hold.
Junk bond spreads rose by about 70 basis points from a recent low and then fell back.
Read the original story Fidelity’s Timmer Warns: Rising Rates Could Hurt Stocks If Earnings Don’t Keep Up by Darryn Pollock on se.beincrypto.com

In brief
Amazon stock fell 7.3% after hours and dropped below Wall Street’s lowest price target.
Free cash flow over the past 12 months declined to an outflow of USD 42.4 billion due to AI investments.
Analysts have an average price target of USD 332.26, about 47% above the stock price.
Read the original story: Amazon’s stock falls after hours — now below Wall Street’s lowest price target, by Kamina Bashir at se.beincrypto.com

In Brief
James Check says the best thing for Bitcoin is for it to become a mainstream asset.
Glassnode data shows that 1-month realized volatility is at 25.2%, close to levels seen in the summer of 2023.
JPMorgan links Bitcoin allocation to lower volatility. Is that requirement being met?
Read the original story Bitcoin Is Getting Boring, and That's Good for the Market, Says Analyst James Check by Jakub Dziadkowiec on se.beincrypto.com

In brief
Hyperliquid rose while crypto traders lost 1.49 billion USD to liquidations.
Binance paused withdrawals after billions of USD left its hot wallets, worrying the market.
ICE, Druckenmiller, and Musk have all had their say, but U.S. approval is still pending.
Read the original story, “All Cryptocurrencies Are Down, Except HyperLiquid. Why?” by Darryn Pollock on se.beincrypto.com

In Brief
Amazon’s AWS has a backlog of $578 billion, growing by triple digits, while sales increased by 39.3%.
AWS increased its quarterly sales by $3.8 billion after previously adding $4.6 billion.
Can Amazon bring in revenue from orders before cost pressures increase?
Read the original story, “Amazon’s AWS backlog of $578 billion is growing faster than its revenue,” by Darryn Pollock on se.beincrypto.com

In brief
DraftKings CEO Jason Robins says prediction markets are an "extraordinary" opportunity.
Robins says customer overlap with Kalshi is about 3 % in states with sports betting.
Can a Nasdaq-listed sportsbook reach a broader audience than the crypto-based Polymarket?
Read the original story Polymarket and Kalshi get a competitor as DraftKings CEO sees ‘extraordinary’ potential by Darryn Pollock on se.beincrypto.com

In brief
The KOSPI fell 4.77% on Friday as Korea's chip giants were hit by an AI revenue downturn.
Japan's Nikkei 225 fell 2.81%, while Taiwan's TAIEX lost 2.80%.
Seoul halted trading for 5 minutes, the first trading halt in 11 trading days.
Read the original story KOSPI Falls Much More Than Nikkei as AI Gains Worry Chipmakers by Kamina Bashir on se.beincrypto.com

In brief
Schwab says advisors are now using AI in practice instead of just testing it.
Schwab offers $4,800 in credit to companies that choose Claude's enterprise plan.
Schwab's 1996 online trading offers both an example and a warning.
Read the original story, “Schwab Says AI Has Moved Beyond Experimentation: Will It Resemble the Dot-Com Boom?” by Darryn Pollock on se.beincrypto.com

In brief
Jim Cramer says Microsoft is a buy and Alphabet has too much baggage.
Alphabet's free cash flow was negative for the second quarter in a row.
Can Amazon's record margin offset the earnings miss?
Read the original story Cramer Says Microsoft Is a Buy and Alphabet Has Too Much Baggage by Darryn Pollock on se.beincrypto.com

In brief
Crypto liquidations hit $1.49 billion in 24 hours, led by Bitcoin longs.
Bitcoin fell 4.67% in 24 hours to $77,111 as Binance investigated a suspected hack.
One major token rose instead, so short sellers lost.
Read the original story: Bitcoin Bulls Take the Biggest Hit During a $1.49 Billion Crypto Liquidation Day by Kamina Bashir on se.beincrypto.com

In brief
Musk, Druckenmiller, and Bitwise’s Hougan all reacted to a Hyperliquid deal.
NYSE owner ICE is planning a regulated U.S. version of Hyperliquid’s 24/7 markets.
Two of the three already have investments tied to the HYPE token.
Read the original story: Musk and a Wall Street billionaire are eyeing a market that Bitwise says 99.9% of Americans don’t know about, by Lockridge Okoth on se.beincrypto.com

In Brief
Bitcoin is now beating the S&P 500 on more trading days, after outperforming it on just one in five days in June.
The BTC price has only closed above the $84,000–$85,000 range on five days since January, according to on-chain firm Glassnode.
Weak consumer confidence, a stagnant leading economic index, and declining breadth among altcoins are adding pressure to Bitcoin’s short-term price outlook.
Read the original story Bitcoin Beats the S&P 500, So Why Is $85,000 Still Hard to Reach? by Luis Blanco on se.beincrypto.com

In Brief
Strategy reported record operating income of $21 billion, but Bitcoin per share fell by 3.7%.
Strategy sold $431.8 million worth of Bitcoin to fund dividends and STRC buybacks.
The stock closed down 2.4% at $141.62 and is trading below the value of its Bitcoin.
Read the original story, “MicroStrategy Reports Record $21 Billion in Operating Income Thanks to Bitcoin Gains, but BTC per Share Declines,” by Lockridge Okoth on se.beincrypto.com