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Tesla (TSLA) faces significant challenges as it approaches its Q2 2025 earnings report, with stock down 18% year to date amid a rocky relationship between CEO Elon Musk and President Trump, impacting late-2024 optimism. The core auto business, Tesla’s primary revenue source, is under pressure with expected Q2 revenue of $22.79 billion, a 9% drop, and a 13.5% decline in global deliveries. Regional weaknesses, competition, and consumer shifts to hybrids add to concerns. Meanwhile, Musk’s focus on robotaxis offers hope, with testing expanding in Austin, though Tesla trails competitors like Waymo and Uber. Investors are eager for updates on a cheaper EV, promised at around $30,000, but delays to Q4 2025 seem likely, potentially disappointing stakeholders. Additionally, tariffs on foreign cars, Musk’s political reputational hit, and the possibility of a future share sale to fund autonomous vehicle and AI initiatives further cloud Tesla’s outlook. As the S&P 500 and Nasdaq hit new highs, Tesla’s earnings call will be critical for insights into its struggling auto segment, robotaxi plans, and new vehicle timelines.
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South Korea's Financial Supervisory Service (FSS) has reportedly issued informal warnings to local asset managers, urging them to limit exposure to cryptocurrency exchange-traded funds (ETFs) and U.S.-listed digital asset firms such as Coinbase (COIN) and Michael Saylor's Strategy (MSTR). According to the Korean Herald, this directive aligns with the FSS's 2017 policy, which bans regulated financial institutions from holding or purchasing equity in digital assets. This development seems to mark a shift from earlier indications that South Korea might relax crypto trading rules, instead reinforcing a cautious stance. An FSS official noted that despite changing regulatory environments in both the U.S. and South Korea, firms must adhere to existing guidelines. The FSS was unavailable for immediate comment on the matter. This move highlights South Korea's ongoing regulatory scrutiny of cryptocurrency investments, reflecting a broader tension between innovation in digital assets and the need for financial stability and compliance within traditional financial systems.
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PayPal has unveiled PayPal World, a groundbreaking platform aimed at revolutionizing cross-border commerce by uniting major global payment systems and digital wallets. Announced on Wednesday, the initiative partners with entities like India’s NPCI (UPI), China’s Tenpay Global (Weixin/WeChat), and Latin America’s Mercado Pago, alongside PayPal and Venmo, targeting over two billion users worldwide. The platform simplifies international transactions, allowing users to pay via local wallets, such as using PayPal on Weixin in China or UPI for U.S. purchases. PayPal’s CEO, Alex Chriss, highlighted its potential as a game-changer in addressing the complexities of global money movement. Set to launch this fall, PayPal World will enable seamless payments for non-PayPal users as well, with plans to expand Venmo’s merchant payment capabilities by 2026. This ecosystem promises to bridge massive transaction volumes, exemplified by Mercado Pago’s $58.3 billion in Q1 2025 and India’s UPI hitting $238 billion in June alone, marking a significant step toward frictionless global payments.
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Treasury Secretary Scott Bessent has taken a critical stance on the Federal Reserve, targeting its non-monetary operations and regulatory framework while stopping short of demanding Fed Chair Jerome Powell’s immediate resignation. Despite President Trump’s calls for Powell to step down, Bessent stated on Fox Business that Powell could serve until his term ends in May. However, Bessent intensified pressure on the Fed by questioning its $2.5 billion headquarters renovation and urging a review of its broader operations, arguing they jeopardize its monetary policy independence. At a Fed conference, he pushed for significant reforms in bank regulations, criticizing outdated capital requirements and a proposed dual capital structure. Bessent, a potential successor to Powell, supports the Fed’s autonomy in monetary policy but aligns with White House efforts to control other Fed functions, like bank supervision. Additionally, he aims to overhaul financial regulations to facilitate lending and stimulate economic growth, with the Treasury playing a central role in driving consensus and action. Recent proposals to rollback bank capital rules, such as the enhanced supplementary leverage ratio, signal further regulatory changes ahead, though their impact on banks may be limited. Bessent’s actions reflect a broader push for innovation and financial stability under the current administration.
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Coinbase Global (COIN), the largest US cryptocurrency exchange, and PNC Financial Services Group (PNC), a major Pittsburgh-based bank, have formed a strategic partnership to integrate cryptocurrency services into PNC’s offerings. This collaboration enables PNC’s retail and institutional clients to buy, sell, and hold digital assets directly through their accounts, while PNC provides banking services like settlement to Coinbase. Announced as an early-stage relationship, the partnership will soon launch PNC’s first crypto offering using Coinbase’s crypto-as-a-service infrastructure. This move reflects a growing trend of traditional banking and crypto converging, fueled by a more favorable regulatory environment under the Trump administration, unlike the restrictive Biden-era policies. The crypto market’s surge, with a capitalization nearing $4 trillion and Bitcoin hitting record highs above $122,000, has spurred interest from major banks like Morgan Stanley and JPMorgan Chase to explore digital asset opportunities. PNC, known for its conservative “brilliantly boring” brand, sees this as a way to meet client demand for secure crypto access without embracing volatility. This partnership exemplifies how even traditional institutions are adapting to the rising mainstream adoption of digital assets amidst evolving regulations and market dynamics.
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President Donald Trump’s recently enacted tax and spending law, dubbed the “One Big Beautiful Bill,” is projected to add $3.4 trillion to US deficits over the next decade, according to the Congressional Budget Office (CBO). Signed on July 4, the legislation extends Trump’s 2017 income-tax cuts, offers business breaks, lifts state and local tax deduction caps, and temporarily eliminates taxes on tips and overtime. However, it also slashes spending by $1.1 trillion while cutting revenues by $4.5 trillion through 2034. The law includes Medicaid cuts and new work requirements, leading to an estimated 10 million Americans losing health insurance by 2034. Economists warn that the expanding budget shortfall, already significant, could increase borrowing costs and inflation, exacerbated by tariff-driven price rises impacting low-income families. The Trump administration claims tariff revenues will offset deficits, though concerns persist. An alternative scoring requested by Senate Republicans shows a $366 billion deficit reduction over a decade, achieved through accounting tactics that minimize the perceived cost of tax cut extensions. This law, reflecting much of Trump’s economic agenda, has sparked debate over its long-term fiscal and social consequences.
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The Los Angeles Times, a 143-year-old publication, is set to go public within the next year, as announced by its billionaire owner, Patrick Soon-Shiong, during an interview on "The Daily Show" with Jon Stewart. Soon-Shiong aims to democratize ownership of the newspaper by adopting a model similar to the public ownership structure of the NFL's Green Bay Packers, with a partner organization working on the framework. This decision comes after a tumultuous period for the LA Times, marked by significant financial losses of $30-40 million annually and substantial layoffs in January, where over 20% of the newsroom staff were cut. Leadership changes have also rocked the paper, with key exits including Executive Editor Kevin Merida and Managing Editor Sara Yasin. Additionally, controversy arose when the editorial editor resigned after Soon-Shiong reportedly blocked an endorsement of then-Vice President Kamala Harris, sparking subscriber backlash. Soon-Shiong, who acquired the LA Times in 2018 for $500 million from Tronc, is steering the newspaper toward a new era of public involvement amidst ongoing challenges. The LA Times did not immediately respond to Reuters for further details on the public offering plans.
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xTAO, a Bittensor-focused infrastructure company, made its public debut on Canada’s TSX Venture Exchange after securing $22.8 million from prominent investors like Animoca and DCG. The funds will support the expansion of its validator operations and the development of real-world products on Bittensor’s decentralized AI network. This listing follows TAO Synergies’ recent $10 million acquisition of TAO tokens, underscoring rising institutional interest in decentralized AI infrastructure. xTAO’s CEO, Karia Samaroo, emphasized the company’s mission to advance decentralized AI, positioning Bittensor as the “Bitcoin of AI” and leveraging TAO as a treasury reserve asset. Meanwhile, TAO’s market performance remains strong, trading above $440 with a 5.5% increase in the last 24 hours, outpacing the flat CoinDesk 20 index. Analysts are optimistic about the AI token sector, as retail traders increasingly seek exposure to innovative AI firms, especially with limited access to established players. xTAO aims to capitalize on this trend by providing essential tooling and validation layers to scale the Bittensor network.
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A growing trend among corporate treasuries involves investing in ethereum (ETH-USD), the second-largest cryptocurrency, alongside bitcoin (BTC-USD), to tap into decentralized finance infrastructure. Smaller crypto firms like BitMine Immersion Technologies, with over $1 billion in ethereum holdings, and larger entities like Coinbase Global, with $440 million in crypto assets, are leading this shift. Ethereum's price has surged 60% in the past month to nearly $3,800, though it lags behind bitcoin's year-to-date return of 26% with a 14% gain. Its blockchain, dominating with over 51% market share, supports smart contracts and tokenization, hailed as its "killer app" for enabling direct transactions without intermediaries. Companies like SharpLink Gaming and Bit Digital are also adopting ethereum-focused treasury strategies, with Bit Digital fully shifting from bitcoin. The recent GENIUS Act, signed by President Trump, regulates stablecoins on ethereum's network, fueling optimism and driving gains for firms like Circle, up over 600% since its IPO. However, not all companies prioritize ethereum; MicroStrategy remains staunchly bitcoin-focused. Experts clarify that ethereum's adoption complements, rather than replaces, bitcoin, reflecting diverse blockchain applications in corporate strategies. Despite potential rewards, ethereum's volatility, evident in price drops following market disruptions like Trump's tariff announcements, poses risks for corporate investors.
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The European Union is gearing up for a potential trade war with the US as President Trump pushes for higher tariffs, threatening a no-deal outcome by the August 1 deadline. The EU is drafting retaliatory measures, including restrictions on US digital services and public procurement access, while member states like Germany signal readiness for conflict if negotiations fail. Trump’s proposed tariffs range from 15-20% on EU goods to 50% on Brazilian imports, disrupting months of talks and affecting global trade partners like Canada and Mexico. US industries, such as steelmaker Cleveland-Cliffs, welcome the protectionist policies, but retailers struggle with uncertainty over import costs for holiday goods. Treasury Secretary Scott Bessent prioritizes high-quality deals over rushed agreements, leaving room for deadline flexibility, while countries like Brazil brace for economic redirection if tariffs hit. The escalating tensions highlight the delicate balance of trade negotiations and the broader economic implications worldwide.
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Trump Media & Technology Group Corp. (DJT) saw its stock rise 6% after revealing a $2 billion investment in bitcoin and related securities, fulfilling a May plan to become a bitcoin treasury company. This move positions bitcoin as two-thirds of its $3 billion asset portfolio, with an additional $300 million allocated for bitcoin-related options. Led by CEO Devin Nunes, the company aims to secure financial independence and shield itself from institutional discrimination while planning a utility token for its Truth Social platform. Concurrently, President Trump signed legislation creating a federal framework for dollar-backed stablecoins, boosting crypto adoption, and supported a new stablecoin (USD1) through World Liberty Financial. Inspired by MicroStrategy’s bitcoin acquisition strategy, Trump Media joins other firms stockpiling cryptocurrencies, though its stock has dropped 25% since May and 45% year-to-date, drawing skepticism from short sellers about the sustainability of such strategies. This development reflects Trump’s deepening ties to the crypto industry amid evolving regulatory landscapes.
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A growing number of non-banking companies, including automakers like General Motors and Stellantis, and cryptocurrency firms like Circle and Ripple, are applying for US banking charters, sparking tension with traditional banks. These new entrants seek charters such as industrial loan company (ILC) status or national trust banking charters, which could allow them to offer banking services with less stringent regulations. Banks and lobbying groups like the Bank Policy Institute and ICBA oppose this, arguing it creates a regulatory double standard and poses risks, citing past failures like GMAC’s 2008 collapse. Meanwhile, the Trump administration is reviewing financial regulations, potentially easing rules for banks and new entrants alike, while the FDIC is adjusting its approach to ILC approvals. Crypto and fintech firms are also pursuing charters to gain credibility and comply with new laws like the GENIUS Act, as even major banks like JPMorgan explore stablecoin innovations. This clash over banking access highlights broader concerns about competition, consumer safety, and the evolving financial landscape.
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The S&P 500 and Nasdaq Composite are close to record highs, showing resilience amid escalating tariffs and monetary policy debates, with the Nasdaq gaining over 1.6% and the S&P 500 up 0.7% last week. A significant earnings season is underway, with 112 S&P 500 companies, including Alphabet, Tesla, and Chipotle, set to report, and Big Tech expected to lead with a 14.1% earnings growth compared to the rest of the index at 3.4%. Federal Reserve governor Christopher Waller has called for an interest rate cut in July, citing inflation near target, though market expectations for a cut have diminished to just 5% due to persistent inflation and robust economic indicators like retail sales. Meanwhile, a quiet week of economic data will focus on manufacturing and services sectors as the Fed enters a blackout period before its July 29-30 meeting. Despite strong earnings from companies like Netflix and big banks, stock reactions have been muted due to high valuations and elevated expectations, raising concerns among strategists about potential pullbacks if results disappoint. The market anticipates a broadening of earnings growth beyond Big Tech in coming quarters, which could support a more sustained rally if cyclical sectors show improvement.
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Robinhood Markets (NASDAQ: HOOD) has experienced a remarkable 350% stock surge over the past year, fueled by rising stock and crypto prices that boosted trading volumes on its platform. Despite this rally, the article argues that Robinhood remains a compelling buy before its July 30 earnings report. The company has rapidly expanded, doubling its funded customers and tripling assets under custody from 2020 to 2024, while achieving a 32.5% revenue CAGR. Its ecosystem now includes crypto, options, and tokenized assets, alongside AI tools and banking services. Margins have improved significantly, with gross margins reaching 94.4% in 2024, supported by economies of scale and high-margin offerings. Regulatory concerns over its payment for order flow model have eased with the SEC’s withdrawal of proposed restrictions. Additionally, subscription revenue from its Gold tier is growing, diversifying income streams. While its valuation appears high at 50 times adjusted EBITDA, analysts predict an 18% revenue CAGR through 2027, suggesting strong growth potential. The article highlights Robinhood’s appeal to retail investors through free trades and gamified investing, positioning it as a disruptor to traditional brokerages, though it notes caution with The Motley Fool not including it among top stock picks.
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Connecticut has enacted a groundbreaking law signed by Gov. Ned Lamont on July 8 to curb the soaring costs of weight-loss drugs like GLP-1s (e.g., Novo Nordisk’s Ozempic and Eli Lilly’s Mounjaro), which cost the state $140 million in 2024 for its HUSKY Health program. The legislation directs the Commissioner of Social Services to petition HHS Secretary Robert F. Kennedy Jr. to invoke federal patent rights under 28 US 1498, allowing generic production of these drugs with royalties paid to original manufacturers at reduced rates. This approach, likened to eminent domain, could involve a consortium of states to contract manufacturers, with other states already showing interest. While some states have limited or cut coverage, Connecticut expanded it in 2023 and now seeks a sustainable solution. However, Gov. Lamont and legal experts caution about potential overreach of federal law, and the response from HHS remains uncertain. Past uses of this patent law, such as for Hepatitis C drugs in Louisiana and anthrax medication post-9/11, show mixed results, often leading to negotiated deals. Amid easing drug prices, a growing compounding market, and upcoming generic competition in Canada, Connecticut’s strategy arrives at a critical juncture, though political will and legal challenges could impact its success. Experts and advocates are keenly observing whether this could set a precedent for addressing high drug costs nationwide.
