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The U.S. housing market is increasingly fragmented, with homebuyers gaining leverage in some regions while sellers maintain control in the pricey Northeast. Nationally, economists predict home prices may stagnate or decline in 2025 amid a prolonged slump, but in cities from Richmond, Va., to Portland, Maine, prices are rising, fueled by persistent low inventory and high demand. In Boston, for instance, buyers face intense competition, often waiving contingencies to secure homes, as inventory remains far below pre-pandemic levels. Realtors note that economic strength, high-earning industries, and limited new construction in the Northeast exacerbate the supply-demand imbalance. Meanwhile, in areas like Hartford, Conn., price appreciation and an influx of buyers from nearby states keep the market seller-friendly, with many homes selling above list price. Despite slight increases in inventory giving buyers marginally more options, the Northeast remains a challenging market for first-time buyers, who often struggle with affordability. In contrast, other regions like the Southeast and Mountain West see declining prices, highlighting stark regional disparities in the housing landscape.
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Inflation remained persistent in July, with core inflation (excluding food and energy) rising 0.3% month-over-month, the highest in six months, and 3.1% year-over-year, up from 2.9% in June, per the Bureau of Labor Statistics. Headline CPI held steady at a 2.7% annual increase, below the expected 2.8%, with a 0.2% monthly rise driven by lower gasoline and softer food prices. Specific categories like footwear (up 1.4%), furniture, and airline fares saw notable increases, hinting at tariff-related cost pass-through as the US effective tariff rate hits 18.6%, the highest since 1933. Despite sticky inflation, experts like Seema Shah from Principal Asset Management believe the data won't deter the Federal Reserve from a potential rate cut in September, with investors now estimating a 90% chance of a 0.25% cut. However, future inflationary pressures from tariffs could complicate later rate decisions. Markets reacted positively, with stocks rising and the 10-year Treasury yield below 4.3%, reflecting optimism for monetary easing. The report underscores ongoing trade policy impacts and raises questions about the Fed's balancing act between inflation control and economic growth.
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Circle Internet Group (NYSE: CRCL), the company behind the USDC stablecoin, unveiled Arc, a new layer-1 blockchain focused on stablecoin applications, on August 12, 2025. Arc, compatible with the Ethereum Virtual Machine, uses USDC as its native gas token and aims to support enterprise-grade stablecoin payments and capital markets solutions. A public testnet is slated for this fall, with full integration into Circle’s platform and interoperability with numerous partner blockchains. Alongside this launch, Circle reported impressive Q2 2025 earnings, with a 53% year-over-year revenue increase to $658 million and a 52% rise in adjusted EBITDA to $126 million. However, a net loss of $482 million was recorded due to non-cash charges tied to its recent IPO. Following its public debut on the NYSE in June 2025, Circle’s stock surged 6.5% in pre-market trading to $172.01. CEO Jeremy Allaire highlighted the company’s sustained growth and adoption across diverse use cases. With a market cap of $65 billion, Circle holds a significant 24% share of the stablecoin market since its founding in 2013.
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Do Kwon, the South Korean cryptocurrency entrepreneur behind Terraform Labs, is set to plead guilty to charges of conspiracy to defraud and wire fraud in a U.S. court. Kwon, who developed the TerraUSD stablecoin and Luna token, is accused of misleading investors by falsely claiming a computer algorithm stabilized TerraUSD’s value in 2021, when he allegedly orchestrated secret purchases to prop up its price. This deception contributed to the $40 billion collapse of both currencies in 2022, impacting retail and institutional investors. Initially pleading not guilty to a nine-count indictment, Kwon now faces sentencing following his plea. In 2024, he settled with the SEC for $4.55 billion, including an $80 million fine and a crypto transaction ban. Detained since his extradition from Montenegro, Kwon is among several crypto figures charged amid the 2022 digital token market crash.
