Minerva Macro News

06/06/2024

Today's mortgage rates

06/06/2024

Kraken is in talks for a pre-IPO fund raising round, per Bloomberg

06/06/2024

The number of foreign born workers in the U.S. reached a record in March, per Bloomberg

06/06/2024

has resumed Mastercard $MA payments for crypto, per CoinDesk

As well as Mastercard payments, the Binance-branded Visa card, which was also switched off last year, has restarted functionality on the exchange.

06/06/2024

Federal regulators to proceed with antitrust investigations into Microsoft $MSFT, OpenAI, and Nvidia $NVDA in the industry, per NYT

06/06/2024

Robinhood $HOOD to acquire Bitstamp for $200 million

Bitstamp has EU market pe*******on and is one of the longest-running centralized exchanges in the industry

06/06/2024

The European Central Bank (ECB) has cut interest rates for the first time since 2019 by 25 bps, per CNBC

The ECB expects inflation to be 2.5% in 2024, 2.2% in 2025, and 1.9% in 2026

GDP growth is expected to be 0.9% in 2024, 1.4% in 2025, and 1.6% in 2026

06/06/2024

The S&P 500 reached its all-time high in 1929 when priced relative to the M2 money supply

06/06/2024

The Fifth Circuit Court has vacated the SEC's private funds rule, holding that the SEC exceeded its statutory authority to regulate private fund advisers

06/06/2024

Gold's share of global international reserves increased to 17.6% in 2023, the most in 27 years

is now the 2nd largest reserve asset held by Central Banks

The largest reserve asset remains the U.S. dollar, but the share has declined to 48% from ~60% in 2017

06/06/2024

Japan to actively manage 100 trillion yen (~$641.3 billion) of public funds, per Nikkei

06/06/2024

Google $GOOGL to acquire software virtualization company Cameyo, per The Verge

Google was already working closely with Cameyo, and now they will bring their key virtualization expertise and technology in-house

06/06/2024

Aluminum producer Novelis is postponing a plan to raise up to $945 million in a an initial public offering (IPO) in the U.S., citing adverse market conditions, per Bloomberg

06/06/2024

annual returns, per Bitwise

06/06/2024

Red Lobster to shut down 135 more restaurants after filing for bankruptcy

06/06/2024

Three mining pools currently control ~69% of Bitcoin's hashrate

Foundry 28.9%
AntPool 27.1%
ViaBTC 13.3%

06/06/2024

Coinbase $COIN announced Coinbase Smart Wallets touting features like:

Gasless transactions

Cross-app portability

Coinbase balance support

Passkeys instead of seed phrases

Coinbase’s smart wallets kick off the next chapter for Coinbase Wallet, revolutionizing the onchain experience by simplifying onboarding, eliminating network fees, and removing recovery phrases.

06/05/2024

SEC Chair Gary Gensler says the next step in the spot ETF approvals “will take some time”, per CNBC

06/05/2024

The Bank of Canada announced a 25 basis point rate cut, lowering the interest rate to 4.75%

Canada's CPI fell to 2.7% in April

The Governor of the Bank said it's reasonable to expect more rate cuts if inflation continues increase at a lower pace

The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization.

06/05/2024

Tether's $USDT CEO Paolo Ardoino has expressed concerns around the EU’s MiCA regulation saying it “could not only render the job of a stablecoin issuer extremely complex but also make EU-licensed stablecoins extremely vulnerable and riskier to operate”, per The Block

Tether CEO Paolo Ardoino told The Block that the EU's MiCA regulation "contains several problematic requirements" regarding stablecoins.

06/05/2024

U.S. lawmakers have accused Nigeria of taking a executive “hostage” and are urging President Joe Biden to help secure his release, per Bloomberg

US lawmakers accused Nigeria of taking a Binance Holdings Ltd. executive “hostage” and urged President Joe Biden to help secure his release.

06/05/2024

The National Basketball Association is nearing an historic $76 billion over 11 years TV deal with Amazon $AMZN, NBC $CMCSA, and ESPN $DIS, per WSJ

06/05/2024

The average stock in Europe is now outperforming the average U.S. stock since the start of 2023, per Bloomberg

06/05/2024

has officially reached an all-time high of $713

06/05/2024

Spot ETF net flows had the 2nd largest day since trading began this year on 6/4/24, per Bloomberg

06/05/2024

Housing inventory in Texas is back above pre-pandemic levels, per ResiClub

06/05/2024

Nike $NKE is eliminating another ~2% of their global workforce, or ~2,000 employees

06/05/2024

Walmart $WMT to replace Rob Walton with Chipotle's $CMG CEO on the Board of Directors

06/05/2024

BlackRock $BLK and Citadel Securities are funding plans to start a new national stock exchange in Texas to "take on" the New York Stock Exchange (NYSE), per WSJ