HL HEMI · XTB —
short squeeze / zamykanie shortow — cena +28.3%, OI -5.4%. ruszyl samodzielnie, nisko skorelowany z BTC.
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Zbieżność czasowa, nie dowód przyczyny — sprawdź sam.
Plus: Lisa Cook's rebuttal | Thursday, August 27, 2026 Axios Macro By Neil Irwin and Courtenay Brown · Aug 27, 2026 As this newsletter sends, Neil is high above America's heartland, en route to Jackson Hole, Wyoming, where the world's central bankers are converging. Check out our annual explainer of the gathering . ✈️ It's Neil's 12th time at the Federal Reserve Bank of Kansas City's annual symposium, which he first attended in 2007. It is always a moment for considered reflection on the powerful economic currents in which we all swim. 🏊 In today's newsletter, we tee up Fed chairman Kevin Warsh's much-anticipated speech tomorrow, and examine Fed governor Lisa Cook's new defense against President Trump's attempt to fire her. Today's newsletter, edited by Jeffrey Cane and copy edited by Katie Lewis, is 1,013 words, a 4-minute read. 1 big thing: Warsh under pressure The Grand Tetons. Photo: David Paul Morris/Bloomberg via Getty Images Warsh made clear four weeks ago that he wants to use his Jackson Hole speech to take on big, lofty ideas, as opposed to the tactical details of what the Fed may do in its three remaining policy meetings this year. Events have not cooperated. The big picture: Warsh is under intense pressure to give a clearer message than he has so far on the current inflation landscape, the prospects for near-term interest rate increases and the relationship between the Fed and the Treasury. Markets are skittish, the Treasury has undertaken controversial interventions in bond and currency markets, and investors have grown restless with Warsh's tendency toward vague, high-altitude rhetoric about his policy approach. Flashback: Traditionally, the Fed chair uses the Jackson Hole speech to deliver a particularly important and long-range message — a notion that Warsh has endorsed. "If I could, in the high mountain air in Jackson, Wyoming, I'd like to also frame the big questions," Warsh said at a press conference in late July. "There is a tendency, especially with the proliferation of meetings and press conferences, to get caught up in the myopic: 'Did you do this by a quarter, or do that?'" Reality check: It will be hard for him to stay so high-altitude in light of the extraordinary cross-pressures visible in markets since then. After that July meeting of the Federal Open Market Committee, the bond market sold off, sending long-term rates soaring. Commentators complained that Warsh seemed unwilling to back his promises of price stability with a message of what steps the Fed might take to achieve it. The U.S. Treasury has twice intervened in global markets, first using a Fed facility to help prop up the Japanese yen and then acting to support the prices of long-term Treasury bonds. It all raises serious questions about the Fed's willingness to raise interest rates if needed to keep inflation in check and its role in cooperating with the Treasury on future interventions in global bond and currency markets. What they're saying: "To regain market confidence we think Warsh will have to bluntly state that the FOMC will raise policy rates if inflation as measured by core PCE does not move steadily downwards," Steve Englander and John Davies at Standard Chartered Bank wrote in a note. Between the lines: Warsh is determined not to offer "forward guidance" about future Fed moves, which is well and good, but economists and traders are thirsting for more concrete engagement with some of the essential debates of this moment. Does he believe the inflation that has reaccelerated over the course of 2026 is a temporary phenomenon that should be looked through? Or is he open to the idea that the Fed needs to raise interest rates to finally achieve the 2% inflation target to which Warsh has vocally committed — and which the Fed has overshot for going on six consecutive years? To the extent that he wants to move past the Fed's longstanding policy and communications playbook, what does he intend to replace it with? And is the Fed willing to cooperate with the Treasury in any further machinations in bond and currency markets, and what are the limits of any cooperation? Of note: Before becoming chairman, Warsh spoke of crafting a new Treasury-Fed accord, updating the 1951 agreement that clarified the lines of responsibility between the two institutions when it comes to U.S. bond issuance and interest rates. Now would be an opportune time to start filling in some details on what he has in mind, as the Treasury undertakes more interventionist policies. The bottom line: With the world's bond markets wobbling, Warsh's credibility is on the line in an early test of his leadership. A MESSAGE FROM AXIOS Break through the noise with Axios Reach execs and business leaders with Axios. We'll help you tell your story in the right way: We'll distill your brand's message into its most effective form with Smart Brevity. No clutter, no filler — just clean, smart and effective. Contact us to learn more. 2. Lisa Cook makes her case Federal Reserve governor Lisa Cook. Photo: Kevin Dietsch/Getty Images Fed governor Lisa Cook is pushing back against President Trump's renewed effort to fire her, arguing that her mortgage discrepancies were innocent mistakes, not misconduct. That is the takeaway from a detailed letter Cook's lawyers made public last night, the White House's deadline for her response. Why it matters: The closely watched case could help define the Fed's political independence by setting the bar for a president to fire a governor. Driving the news: After the Supreme Court blocked Trump's attempt to remove Cook while the legal battle continues, the White House has pursued a more formal process. Earlier this month, deputy chief of staff Dan Scavino detailed the allegations the White House says could constitute cause for Cook's removal. What they're saying: Cook's lawyer, Abbe David Lowell, says documents show that Cook identified Michigan as her primary residence and a condominium in Atlanta as a second home. The
Canada announces retaliatory tariffs on the US... August 26, 2026 Presented By Ruff. Happy National Dog Day. Here are our five favorite dogs: Air Bud Hot Downward-facing Snoopy Snoop And coming in dead last, Marmaduke . —Sam Klebanov, Matty Merritt, Dave Lozo, Adam Epstein, Neal Freyman In today’s newsletter, we’ll get into: Canada’s retaliatory tariffs on the US Apple unveiling new Macs Why Coca-Cola is on a hot streak Markets Nasdaq 26,151.3 +0.66% S&P 7,677.28 +0.32% Dow 53,577.4 +0.30% 10-Year 4.639% -6.0 bps Bitcoin $78,906.09 -0.03% Dick’s $124.31 -30.68% Data is provided by *Stock data as of market close, cryptocurrency data as of 4:30pm ET. Here's what these numbers mean. Markets: Stocks climbed yesterday as investors looked past the escalating spat between the US and Canada, and toward Nvidia’s earnings later today. Meanwhile, it was a nightmare day for Dick’s Sporting Goods after it lowered the outlook for its Foot Locker business, citing a “challenging athletic footwear and apparel marketplace.” Markets Sponsored by State Street Investment Management Get exposure to hundreds of companies powering America’s economy—all in a single trade, with SPY. Invest in SPY, the original S&P 500 ETF .* Heavy duty Canada strikes back with 50% tariffs on US goods Illustration: Morning Brew Inc., Photo: Adobe Stock After putting away the carrot and politely excusing themselves from the negotiating table, Canucks reached for the stick. Canada announced tariffs of up to 50% on US exports yesterday to mirror US duties that took effect following the breakdown of trade talks over the weekend. Canada said it’ll tax $20 billion worth of made-in-the-USA goods at 15%, 25%, and 50%, matching US duties dollar for dollar. Going into effect after Labor Day, the tariffs will apply to 700 American products ranging from motorcycles and chainsaws to cheese and frozen octopus. Targeted punches Canada said it aims to protect local businesses that were undermined by US tariffs, and exert pressure on American politicians ahead of the US midterm elections in November. While the tariffs will affect just 7% of US exports to Canada, the products were chosen to target particular industries. For instance, seafood duties are thought to be aimed at exports from Maine, where Republican Sen. Susan Collins is campaigning for reelection in a close race. But… commentators noted that Canada’s choice to tariff consumer goods like food and clothes will likely hurt local shoppers, too. Economists expect Canada to suffer more from US tariffs than vice versa, since stateside trade makes up a larger portion of its exports than shipments to Canada do for the US. Cross-border threats continue Yesterday, President Trump floated the idea of renaming Lake Ontario to “Lake America,” saying that he doesn’t anticipate the US doing much business with the eponymous Canadian province. Earlier in the week, Ontario Premier Doug Ford said he discussed a tax on Canadian power exports to the US with Prime Minister Mark Carney, which could raise electricity prices for Americans. Meanwhile, Trump has threatened to double import duties on Canadian cars and trucks to 50%, which could devastate Canada’s auto sector. Still… top Trump administration officials and Carney have said that they’re potentially willing to return to the negotiating table. —SK Sponsored By ElevenLabs When “on hold” gets old Asking customers to “press 1” over and over again hardly feels like an experience. Hang up on the holdups. ElevenAgents helps customers like Klarna, Deutsche Telekom, and SevenRooms build AI agents that talk naturally and actually fix things. Those agents now handle over 10m conversations a week , including refunds, appointment bookings, benefits questions, and flight changes. These agents are designed to sound natural instead of like a recording. Build and run them all in one place instead of using four tools stitched together. Watch their webinar replays to see how leading teams actually deploy AI agents. World Tour de headlines Paul Natkin/Getty Images 💔 Dolly Parton died at 80. “Queen of Country” and 11-time Grammy winner Dolly Parton died yesterday, her family confirmed . No cause of death was revealed, but Parton had abruptly canceled a concert in Las Vegas in May after undergoing treatment for health issues. Over the course of her six-decade career, the iconic “9 to 5” and “Jolene” singer sold more than 100 million records, successfully crossed over into Hollywood to earn multiple Golden Globe nominations, launched a theme park, and inspired countless country artists. She was also known for her philanthropic efforts to improve literacy, inspired by her father, who was illiterate. Her husband of 58 years, Carl Dean, died last year. 😷 Pennsylvania reported two measles deaths. Two unvaccinated people in Lancaster County died from measles, state officials announced yesterday. They were the first measles deaths in the US this year, as well as the first in Pennsylvania in 35 years. The deaths come as the US suffers from its worst measles outbreak since 1991: As of last week, there were 2,777 cases already this year, up from 2,289 last year. Measles had largely been eliminated in the US due to vaccines, but the disease is rising as vaccination rates fall. “People are not familiar with this disease and don’t fully understand the potential severity of the illness,” Pennsylvania’s health secretary said. 🖊️ Bessent’s bond intervention was blasted by his mentor. Anakin Scott, you were the chosen one! In a scathing op-ed in the Wall Street Journal this week, billionaire investor Stanley Druckenmiller criticized the plan of his protégé, Treasury Secretary Scott Bessent, to buy back $4 billion in government bonds in order to lower soaring borrowing costs. After Bessent’s announcement, bond yields fell temporarily, but they quickly shot up again a day later and have stayed elevated since. “This wasn’t liquidity management, it was price management—and a mistake far larger
You have exactly 48 hours to secure the alpha that is dominating this new bull market. Get 247 Research Access for 50% off (Limited to 100 people) You have exactly 48 hours to secure the alpha that is dominating this new bull market. Aug 26 READ IN APP None of this is financial advice. Do your own research. By reading this newsletter, you acknowledge and accept the terms and conditions outlined in our disclaimer . The bull market is no longer a theory Bitcoin has climbed roughly 30% in the last seven days. Ethereum has moved even harder. Liquidity is returning, narratives are waking up, and the market that spent months grinding lower has flipped. This is the environment every serious trader waits for , the early phase of a multi-year cycle where positioning and information edge compound the fastest. When the market flips bullish this violently, the biggest risk isn’t downside, it’s the opportunity cost . It’s watching from the sidelines while other people catch the 50%, 60%, and 70% runners because you didn’t have the right alpha. That’s where 247 Research comes in. (Don’t Forget the Discount 50% off) Seven Days. Seven Calls. Seven Wins. I'm going to show you the receipts. Every image below is from the 247 Research Discord. Every call was made in real-time. Every profit was earned by members who were in the room. If 247 Research can do this in Week 1 of a bull market, when liquidity is just starting to flow, when altcoin season hasn't even kicked in, when the retail herd is still asleep, what do you think happens in a BULL RUN. Lucky's HYPE Trade : Trump says HYPE , we are already in and out with +$31,299.32 Ran's ZEC Breakout : Morning call. Clear level. Clean break. +80%. Kapoor's POD Accumulation: It's now up 65% and he's holding until ATH. Ran's SUI Breakout : Same morning call. SUI above $0.95, +45%. Lucky's ENA Swing: +72.2%. Caught every single percentage point. Ran's NEAR Pump : Three breakouts. One night. He sees what others miss. Andrei flags : From the call $VVV ran around 32%. Do the Math Let’s be conservative. If you had followed just half of these calls with modest position sizing: HYPE: +$31K realized POD: +65% spot position ZEC: +80% futures breakout SUI: +45% breakout NEAR: +6.7% in a night ENA: +72.2% full swing VVV: Fundamental gap-up + technical follow-through That’s seven high-conviction calls. Seven winners. In seven days. Now ask yourself: If this is Week 1, what does Year 1 look like? Bull markets don’t last six months. They last 18 to 36 months. The 2020-2021 cycle created generational wealth for people who were positioned before the mania. The people who bought in November 2020 didn’t just make money, they made life-changing money. We’re at that November 2020 moment again. But this time, you have a choice. You can trade alone, scrolling Twitter, trying to separate signal from noise. Or you can join the room where the signal lives. What You Get Inside 247 Research This isn’t a pump group. This isn’t a paid shill factory. This is a premium research terminal disguised as a Discord server. Live morning calls with Ran Neuner and the team Real-time macro analysis , Fed, liquidity, geopolitics Headline trading , Trump tweets, policy shifts, exchange news, before the market moves The 247 Terminal , proprietary tools and scanners Spot and futures calls with clear entries, targets, and risk management A community of serious traders who actually know what they’re doing 4.9/5 rating. 1000+ reviews. The numbers don’t lie. 🎁 First month at 50% off to test-drive the room that just printed seven winners in seven days. Remember this Discount is for 100 people only. FIRST COME FIRST SERVE ! 👉 Join 247 Research No noise. Just alpha. Thanks for reading Good Morning Crypto! Subscribe for free to receive new posts and support our work. Pledge your support Good Morning Crypto - by Crypto Banter is free today. But if you enjoyed this post, you can tell Good Morning Crypto - by Crypto Banter that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. Pledge your support Like Comment Restack
Plus: Nvidia's next test | Wednesday, August 26, 2026 Axios Markets By Emily Peck and Matt Phillips · Aug 26, 2026 🐪 Wednesday! Stock futures are little changed this morning as investors await the PCE report, the Federal Reserve's preferred inflation gauge, at 8:30am ET. In today's edition: You know how everyone talks about the $1 trillion in AI buildout spending? The number might be three times as big. That's like more than three Elon Musks. Elsewhere in the AI world, Axios' Nathan Bomey has a preview of Nvidia earnings, out after the close today. And stick around for some musing on AI-generated writing by billionaires. Shall we? In 1,161 words, a 4.5-minute read. 1 big thing: A $3 trillion baby By Emily Peck Illustration: Sarah Grillo/Axios To paraphrase Justin Timberlake in his iconic turn in the 2010 film "The Social Network," a trillion dollars isn't cool. You know what is? $3 trillion. The big picture: That's roughly how much money seven Big Tech companies, including Google, Microsoft and Nvidia, have committed to spending on AI-related infrastructure in off-balance-sheet commitments, according to a new analysis from Morgan Stanley. And that's on top of the estimated $770 billion in debt and lease obligations that are on the balance sheets. Why it matters: The analysis finds that the total amount of spending on AI is much bigger than the already-mind-blowing headlines suggest, and — more of a red flag — it's more leveraged than is perhaps appreciated. How it works: Off-balance-sheet commitments are essentially financial obligations that don't show up in a company's official tally of what it owns and owes — it's not an official debt but an obligation to pay someone something in the future. Zoom in: Morgan Stanley looked at filings from the hyperscalers Google, Meta, Microsoft, Oracle and Amazon, as well as the chipmakers Nvidia and Broadcom and broke down their off-balance-sheet commitments. The hyperscalers have committed to $1.1 trillion in payments for data center leases that haven't yet begun. All seven companies have also agreed to buy $1.7 trillion of other stuff — purchase commitments for chips, memory and networking gear. These purchase agreements have ramped up this year — Google's commitments totaled $707 billion in the most recent quarter — from $72.5 billion in all of 2025, per the research. Morgan Stanley research Follow the money: This is future revenue for memory chipmakers like Micron Technology and help explain the phenomenal growth in that business. The intrigue: These commitments are a jumping-off point for suppliers and data center developers who take that guarantee of future payments and use it to borrow more. Here's how the researchers explain it: "Suppliers and data center developers can borrow against long-dated leases, guarantees, or purchase commitments from investment grade hyperscalers, allowing capacity to be built before the hyperscalers make any payments or recognize liabilities." Between the lines: What this essentially means is that Big Tech companies with decent credit ratings are leveraging that status to generate an absolute ton of lending that can be difficult to track. Yes, but: Each of these companies is doing slightly different kinds of spending with different levels of risk. And it's not totally clear over what time period that $3 trillion gets spent — or if it gets spent. These are commitments, often contracts, but they could theoretically be renegotiated. What to watch: At some point these obligations will start showing up on official balance sheets. By that time, will these investments be paying off? Timing is the question on investors' minds, says Todd Castagno, head of global valuation, accounting and tax at Morgan Stanley who coauthored the analysis. This is, after all, a new market. "It's like we are developing a car market without ever having seen the capabilities of car before, and everyone's going to get a car — and how do we finance it, and how do we know what that car is worth in five years?" 2. Nvidia takes the spotlight By Nathan Bomey Data: Financial Modeling Prep ; Chart: Jeffrey Cane/Axios Nvidia snapped a seven-day losing streak in the stock market yesterday. But its mini slump has raised questions over the AI darling's growth trajectory. Why it matters: Nvidia is trying to use its massive pile of capital to keep the good times rolling — through a wide assortment of investments and capital deals (see above) — while continuing to feed the growing chip needs of the AI hyperscalers. Zoom in: The company will report second-quarter earnings after the bell today, and investors want to see a blowout performance. Nvidia is expected to book $92.1 billion in revenue for the period, and more than $100 billion in the current third quarter, per S&P Capital IQ estimates. That would be its first 12-digit quarter. Q2 net income is estimated at $51.2 billion, with gross margins at 75%. Friction point: Mounting bipartisan opposition to data centers — many of which draw substantial computing capacity from Nvidia chips — poses a threat to the company's continued momentum. Yes, but: Nvidia CEO Jensen Huang has been moving to use the company's massive balance sheet to invest in AI companies and guarantee financing on deals like a sprawling ChatGPT data center slated for Ohio. "A lot of attention will also be paid to the off-balance-sheet activity," wrote Brian Mulberry, chief market strategist at Zacks Investment Management, noting that Nvidia has already made 66 investments totaling about $40 billion. Those investments have raised concerns about circular financing posing a systemic threat to the AI economy — concerns that Huang has roundly rejected. The bottom line: The CEO will be under pressure to deliver a rosy outlook at a time when the public's support for AI is wobbling. "This shareholder meeting is now beginning to feel like the old Berkshire Hathaway events where people around the world would hang on every word that Warren Buffett had t
United Airlines sees more profitability from Americans abroad. August 26, 2026 PRESENTED BY MIZUHO Good morning. Call him LeBorrower. Two insurers advised by Mark Walter’s Guggenheim Partners loaned former Los Angeles Laker LeBron James nearly $300 million across deals in 2018 and 2022, Bloomberg News reported Tuesday. The 2018 bonds, issued by a James-controlled LLC against his assets and future non-NBA earnings, carry a 4.8% interest rate and are due in 2049. For most of 2018, the yield on 30-year US Treasury bonds was about 3%, putting a roughly 180 basis-point spread between debt issued by Uncle Sam and King James at the time. Ball don’t lie. Walter bought the Lakers last year for $10 billion, but agreed to sell the team for $12.5 billion earlier this month amid reports US officials are investigating whether he improperly used billions in loans from his own insurance companies to finance sports investments. The deal with James, who decamped for the Philadelphia 76ers in July, is unrelated to the investigation, and it’s common for high-net-worth individuals to get cash via loans against their assets because it means they don’t have to sell and can avoid triggering capital gains taxes. What it does show is how money managers like Guggenheim have steered people’s life insurance premiums into unorthodox areas like private credit and sports. Sammons Financial, the owner of the two insurers that lent to James, said Guggenheim selected their portfolio assets until 2021. Thankfully, a LeBron bond, backed by a lifelong sponsorship with Nike among other things, is undoubtedly an investment-grade asset. MARKETS S&P 500 7,677.28 ▲ +0.32% DJI 53,577.40 ▲ +0.30% UAL $117.41 ▲ +3.38% Stock data as of market close on August 25, 2026. CONSUMER Lego Sales Surge as Toymaker Shuns Design Help from AI Photo via AyanoMiura/Ayano Miura/AFLO/Newscom There are way more Legos on the ground ready to inflict pain on feet around the world, with the toymaker reporting yesterday that its revenue surged 21% in the first half of the year. The Danish company’s operating profit jumped 22% as sets designed for both kids and their parents continued to fly off shelves. Lego’s sales growth outpaced the wider US toy market’s, which jumped 17% for its strongest six months in six years, Circana found. Rival toymakers Mattel and Hasbro have also reported sales growth so far this year, but Lego outpaced both. Still, Lego is only human, and it very much intends to stay that way. Its CEO attributes its success, at least in part, to its decision to rely on human creativity in an AI age. AI Just Doesn’t Get It, Says Lego Just like stepping on the sharp blocks is a purely human experience, so too is designing Lego’s brick sets. And that’s intentional . Lego’s data suggests algorithms can’t emotionally or tactilely connect with kids. So the company doesn’t allow AI to help with product design, Lego CEO Niels Christiansen said: Lego’s human designers debuted more than 330 new sets in the first half of this year. The company lets employees use AI for less creative tasks, like admin, with the aim of freeing designers’ time to think about the next botanical set (a string-of-pearls plant maybe?). Competitors, meanwhile, aren’t as AI-averse. Mattel partnered with OpenAI last year to create toys using AI, but in December delayed plans to release any. Hasbro in June launched an AI studio called Sixth Wall, where it’s creating AI versions of characters including Mr. Potato Head (don’t ask him who Andy’s favorite toy is). Lego’s No Luddite: Lego’s not ignoring the digital dimension, however. Its partnership with Fortnite -maker Epic Games brings Lego designs into the video game and Fortnite avatars and items (hello, Lego Supply Llama) into the physical world. The toymaker also launched a digitized version of its plastic blocks this year that uses sensors to react to motion with lights and sounds, like a birthday cake that plays a song when its candles are “blown out.” Written by Jamie Wilde PRESENTED BY MIZUHO Japan’s Growth Revival: Global Investors Take Notice After Decades on the Sidelines Photo via Mizuho Japan’s economy has entered a significant new phase, and global investors continue to spend more time in the region . After 30 years, Japan’s economy has moved from experiencing deflation to inflation, and from stagnation to a booming economy. Wages are up, businesses are increasing returns on invested capital, creating meaningful shareholder value, while Japanese households are shifting money from deposits to investments . For global investors, the changes have created the most compelling opportunity to invest in Japan in decades, with a structural growth story replacing a long-term valuation narrative. While the Japan markets have been admittedly robust, there are still significant areas of uncovered opportunities . Read more. MEDIA & ENTERTAINMENT Is Netflix Getting Its Groove Back? Netflix stock has tumbled 40% from a peak last summer, but one analyst is arguing that Wall Street, much like the final season of Stranger Things , has officially lost the plot. Shares of the company leapt almost 3% on Tuesday after Wolfe Research analyst Peter Supino upped his price target for the company to $95. Supino argued that investors are overreacting to lackluster engagement data sparked by an uncharacteristically soft second-quarter release schedule. And recent reports suggest that Netflix is looking to get more and more premium content on its platform. Third-Party Down Overall viewing hours increased a mere 2% in the first half of the year, Netflix said in its engagement report earlier this summer. That prompted fears that the Binge Watch era will not simply run on auto-play forever, a distressing turn for a streamer that sees advertising as the key to continued growth. Making matters worse, Netflix deepened Wall Street’s fears by cutting its bi-annual engagement reports down to just one a year, and reports surfaced that executives were troubl
You have exactly 48 hours to secure the alpha that is dominating this new bull market. Get 247 Research Access for 50% off (Limited to 100 people) You have exactly 48 hours to secure the alpha that is dominating this new bull market. Aug 26 READ IN APP None of this is financial advice. Do your own research. By reading this newsletter, you acknowledge and accept the terms and conditions outlined in our disclaimer . The bull market is no longer a theory Bitcoin has climbed roughly 30% in the last seven days. Ethereum has moved even harder. Liquidity is returning, narratives are waking up, and the market that spent months grinding lower has flipped. This is the environment every serious trader waits for , the early phase of a multi-year cycle where positioning and information edge compound the fastest. When the market flips bullish this violently, the biggest risk isn’t downside, it’s the opportunity cost . It’s watching from the sidelines while other people catch the 50%, 60%, and 70% runners because you didn’t have the right alpha. That’s where 247 Research comes in. (Don’t Forget the Discount 50% off) Seven Days. Seven Calls. Seven Wins. I'm going to show you the receipts. Every image below is from the 247 Research Discord. Every call was made in real-time. Every profit was earned by members who were in the room. If 247 Research can do this in Week 1 of a bull market, when liquidity is just starting to flow, when altcoin season hasn't even kicked in, when the retail herd is still asleep, what do you think happens in a BULL RUN. Lucky's HYPE Trade : Trump says HYPE , we are already in and out with +$31,299.32 Ran's ZEC Breakout : Morning call. Clear level. Clean break. +80%. Kapoor's POD Accumulation: It's now up 65% and he's holding until ATH. Ran's SUI Breakout : Same morning call. SUI above $0.95, +45%. Lucky's ENA Swing: +72.2%. Caught every single percentage point. Ran's NEAR Pump : Three breakouts. One night. He sees what others miss. Andrei flags : From the call $VVV ran around 32%. Do the Math Let’s be conservative. If you had followed just half of these calls with modest position sizing: HYPE: +$31K realized POD: +65% spot position ZEC: +80% futures breakout SUI: +45% breakout NEAR: +6.7% in a night ENA: +72.2% full swing VVV: Fundamental gap-up + technical follow-through That’s seven high-conviction calls. Seven winners. In seven days. Now ask yourself: If this is Week 1, what does Year 1 look like? Bull markets don’t last six months. They last 18 to 36 months. The 2020-2021 cycle created generational wealth for people who were positioned before the mania. The people who bought in November 2020 didn’t just make money, they made life-changing money. We’re at that November 2020 moment again. But this time, you have a choice. You can trade alone, scrolling Twitter, trying to separate signal from noise. Or you can join the room where the signal lives. What You Get Inside 247 Research This isn’t a pump group. This isn’t a paid shill factory. This is a premium research terminal disguised as a Discord server. Live morning calls with Ran Neuner and the team Real-time macro analysis , Fed, liquidity, geopolitics Headline trading , Trump tweets, policy shifts, exchange news, before the market moves The 247 Terminal , proprietary tools and scanners Spot and futures calls with clear entries, targets, and risk management A community of serious traders who actually know what they’re doing 4.9/5 rating. 1000+ reviews. The numbers don’t lie. 🎁 First month at 50% off to test-drive the room that just printed seven winners in seven days. Remember this Discount is for 100 people only. FIRST COME FIRST SERVE ! 👉 Join 247 Research No noise. Just alpha. Thanks for reading Good Morning Crypto! Subscribe for free to receive new posts and support our work. Pledge your support Good Morning Crypto - by Crypto Banter is free today. But if you enjoyed this post, you can tell Good Morning Crypto - by Crypto Banter that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. Pledge your support Like Comment Restack
Nvidia guidance and inflation data set the next trend. 🚨5 Setups To Watch As Nvidia Reports Earnings Nvidia guidance and inflation data set the next trend. Aug 26 READ IN APP None of this is financial advice. Do your own research. By reading this newsletter, you acknowledge and accept the terms and conditions outlined in our disclaimer . Hey Traders, Bitcoin has cooled a little after pushing through $80,000, with the tape now waiting on the next catalyst rather than chasing the last one. The low-leverage character of the advance is still intact, but the market has shifted into event mode. Today is stacked. Inflation and growth data hit first, then Nvidia reports after the close. A beat is already assumed. What matters is whether guidance, demand, and margins raise the bar again. Soft inflation with growth holding would keep risk assets supported. A hotter print would put yields back in charge. Oil has eased and yields have given back a little of their recent tightness, which helped semis bounce into the event. The bond market remains the referee. Crypto and equities are both waiting for the same two prints to decide whether this stays constructive. Here’s what we are watching. Poll of the Day ( Presented by Rain Trade ) 🎯 POLL Is Bitcoin's surge past $78k a genuine bear-market exit or a bull trap? 🚀 Real macro regime shift 🧱 Rejection at $81.8k 🪤 Short-squeeze bull trap Today’s Charts: Chart #1 – Dogecoin (DOGEUSDT) 4-Hour Chart #2 – Flare (FLRUSDT) 4-Hour Chart #3 – Shiba Inu (SHIBUSDT) 4-Hour Chart #4 – Stacks (STXUSDT) 4-Hour Chart #5 – Robinhood Markets, Inc. (HOOD) 4-Hour Stop Trading Headlines. Start Trading Alpha. The desk that moves before the market does • Live community of traders who actually execute, not just talk • Real-time calls dropped while the candle is forming, not after it closes • 4.9/5 rating by 1000+ traders because signal beats noise, every single time Join 247 Research. Get the 24/7 terminal free. 50% off your first month, USE CODE: terminal ($100 off) Chart #1 – Dogecoin (DOGEUSDT) 4-Hour( Powered by Rain Trade 📊) Chartist: Kapoor (For the chart screenshot, ) Dogecoin has faced a sharp rejection following an explosive rally toward the $0.10000 psychological high, breaking down below local consolidation to trade around $0.08684. Functioning as the leading decentralized peer-to-peer meme cryptocurrency utilizing Scrypt proof-of-work consensus for fast and low-cost microtransactions, this short trade setup targets a deeper mean-reversion drop toward the $0.08000–$0.08200 liquidity pocket as long as overhead resistance holds below $0.09000–$0.09300. Trade Levels: Entry: $0.0897 Stop Loss: $0.0933 Take Profit Levels (TP): TP1: $0.08491 TP2: $0.08032 Powerful narratives create powerful moves. With 247 Research , you get the insights to be early to the biggest trends in crypto. Chart #2 – Flare(FLRUSDT) 4-Hour( Powered by Rain Trade ) Chartist: Kapoor (For the chart screenshot, ) Flare has pulled back into key support following a sharp rejection from its recent swing highs near $0.008000, looking to stabilize around $0.006601 on the 4-hour timeframe. Functioning as an EVM-based Layer-1 blockchain optimized for decentralized data acquisition and secure cross-chain interoperability via the Flare Time Series Oracle (FTSO) and State Connector, this long trade setup targets an upward recovery expansion toward the $0.007226 resistance target as long as the $0.005815–$0.006161 support base holds. Trade Levels: Entry: $ 0.0061 Stop Loss: $0.0058 Take Profit Levels (TP): TP1: $0.0066 TP2: $0.0072 Chart #3 – Shiba Inu(SHIBUSDT) 4-Hour( Powered by Rain Trade 📊) Chartist: Kapoor (For the chart screenshot, ) Shiba Inu has faced rejection after forming a lower high following its sharp rally to the $0.00000630 area, breaking down below local consolidation to trade around $0.00000533 on the 4-hour timeframe. Functioning as a decentralized community-led meme ecosystem powered by ShibaSwap, Shibarium Layer-2 network scaling, and expanding utility tokens, this short trade setup targets a deeper mean-reversion drop toward the $0.00000460–$0.00000470 liquidity pocket as long as overhead resistance holds below $0.00000550–$0.00000580. Trade Levels: Entry: $0.00000547 Stop Loss: 0.00000577 Take Profit Levels (TP): TP1: $0.00000500 TP2: $0.00000450 Chart #4 – Stacks(STXUSDT) 4-Hour( Powered by Rain Trade 📊) Chartist: Kapoor (For the chart screenshot, ) Stacks has stabilized following a sharp upward impulse, holding above its newly formed support base at $0.2642 to trade near $0.2798 on the 4-hour timeframe. Functioning as a Bitcoin Layer-2 network that enables smart contracts, decentralized finance, and non-custodial sBTC integration settled directly on the Bitcoin blockchain, this long trade setup targets an upward continuation toward the $0.3327 resistance target as long as the $0.2415–$0.2642 support shelf holds. Trade Levels: Entry: $0.2639 Stop Loss: $0.2415 Take Profit Levels (TP): TP1: $0.2980 TP2: $0.3327 Markets go both ways. Get premium short setups delivered every day with 247 Research . Chart #5 – Robinhood Markets, Inc. (HOOD) 4-Hour( Powered by Rain Trade 📊) Chartist: Kapoor (For the chart screenshot, ) ( HOOD refers to the stock of Robinhood Markets, Inc. and not a cryptocurrency.) Robinhood Markets, Inc. has printed a strong bullish impulse off its August base, breaking back above horizontal support near $106.88 to trade around $112.07 on the 4-hour timeframe. Driven by expanding retail trading volumes across equities, options, and cryptocurrencies, alongside growing subscription revenue from Robinhood Gold and high-yield cash sweep balances, this long trade setup targets an upward expansion toward the $131.94 resistance level as long as the $98.84–$106.88 support base holds. Trade Levels: Entry: $106 Stop Loss: $98 Take Profit Levels (TP): TP1: $120 TP2: $132 Banter’s Take With inflation and growth data now in the books and Nvidia’s guidance setting a new bar, the market has
Pushing the PRO Price Hike to ONE MORE day. We turned the old Milk Road PRO pricing off last night at 11:59pm. Then we opened our inbox this morning. Big mistake. "I was on a plane, please let me in." "My card declined at 11:52pm. ELEVEN. FIFTY. TWO." "Any chance you'd make an exception for a loyal reader who is also very handsome?" Tons of them. Some polite and some borderline threatening. One guy offered us his dog as collateral. (We're still thinking about it. Cute dog.) So we had a team meeting. It was very serious with lots of nodding. We decided to bring the old Milk Road PRO price back . For one more day (today). $25/month or $250/year, locked in for as long as you stay subscribed. Tonight at 11:59pm ET it ONCE AGAIN becomes $39/month or $399/year, and that is where it lives forever. Lock in $250/year - yours for life Prefer monthly? $25/month locks too . Kyle Reidhead, Co-owner @ Milk Road PS - We’re about to launch a HUGE upgrade to the platform that allows you to connect your brokerage accounts and crypto wallets and track your portfolio all in one place. AND, compare it with the analyst portfolios and get ongoing advice on your portfolio. PRO isn't what it used to be (it's better). Lock in today's prices here . This content is for educational purposes only. Read full disclaimer Interested in reaching smart readers like you? Sponsor Milk Road Update your email preferences or unsubscribe here © 2026 ImpactDM Inc. operating as Milk Road 1257 Dundas St W Toronto, Ontario M6J1X6, Canada
Plus: Treasury holds the line | Wednesday, August 26, 2026 Axios Macro By Neil Irwin and Courtenay Brown · Aug 26, 2026 New July data on inflation, incomes and consumer spending points to an uneven evolution of the U.S. economy this summer. We parse it all below. Plus, a look at the signs that the Treasury Department's intervention in the bond market is having its intended effect of holding the line on long-term rates. Situational awareness: In an interview with Courtenay in West Palm Beach yesterday, acting Labor Secretary Keith Sonderling said the department has struck data-sharing deals with tech giants to help track how AI is affecting jobs and hiring. Go deeper . Today's newsletter, edited by Jeffrey Cane and copy edited by Katie Lewis, is 942 words, a 3.5-minute read. 1 big thing: A mixed-bag economy Data: Bureau of Economic Analysis; Chart: Neil Irwin/Axios The latest data offers a mixed picture of the economy: Incomes are rising at a solid clip, but inflation remains stubborn and consumer spending has lost momentum. Why it matters: Consumers are becoming more cautious. The potential upside of weaker spending is that it should help cool inflation, but that payoff has yet to materialize, with underlying inflation still higher than at any point in 2024 or 2025. Persistent inflation keeps pressure on the Federal Reserve to raise rates, but greater caution among consumers raises concerns that policy tightening would weigh on spending and economic growth. What they're saying: "The best thing that can be said is that at least core inflation didn't go higher," Brian Jacobsen, chief economic strategist at Annex Wealth Management, wrote in a note, referring to the inflation gauge that strips out food and energy costs. The inflation fear is that "instead of reversing, it's plateauing," Jacobsen added. The good news: Americans' disposable income rose 0.5% in July. Those gains still held up after accounting for inflation for the third consecutive month, with real disposable income increasing 0.4%. Spending slowed notably, with personal consumption expenditures rising just 0.2% in July and essentially flat after adjusting for inflation, compared with a 0.4% real increase in June. The weakness was concentrated in goods, where spending fell at a roughly $50 billion annualized rate, partly offsetting an $86 billion increase in services spending. With income growth outpacing that of spending, the personal saving rate advanced for the first time this year, to 3%, up 0.4 percentage point from June. The other side: The core personal consumption expenditures price index rose 0.2% in July and was up 3.3% from a year earlier, unchanged from June. Over the past three months, core inflation ran at a 3% annualized pace, down from a recent peak of 4.5% in May, but still well above the Fed's 2% target. The intrigue: Revised GDP figures suggest the economy entered the summer with stronger momentum than previously known, before signs of more subdued consumer spending emerged in July. Topline GDP growth was unchanged at a 1.5% annualized rate in the second quarter. But real final sales to private domestic purchasers — a gauge of underlying private sector demand that sums up consumer spending and business investment — grew at a robust 4.2% annualized rate, the strongest pace since the third quarter of 2019, excluding the pandemic-era swings. That was upgraded from an initial estimate of 3.9%, pointing to greater underlying economic strength than initially estimated. What to watch: Inflation worries have become more pronounced inside the Fed. Boston Fed president Susan Collins said yesterday that interest rates may need to rise "soon" without evidence of sustained progress on inflation. Her warning comes after three Fed officials backed a rate hike in July , while the minutes from the meeting showed that "many" policymakers saw further tightening as likely if inflation failed to decline. Fed chairman Kevin Warsh speaks at Jackson Hole Friday morning, giving him a chance to weigh in on the Fed's path forward. A MESSAGE FROM AXIOS Break through the noise with Axios Reach execs and business leaders with Axios. We'll help you tell your story in the right way: We'll distill your brand's message into its most effective form with Smart Brevity. No clutter, no filler — just clean, smart and effective. Contact us to learn more. 2. Long bonds calm down Data: Federal Reserve; Chart: Neil Irwin/Axios There is a hot debate over the wisdom of the Treasury Department's bond market intervention. In the meantime, market moves suggest Treasury's intended purpose — of reining in longer-term borrowing costs — is working. The big picture: Long-term Treasury yields have stabilized since the government said a week ago that it would buy back longer-term securities by at least $4 billion at a time. Technical indicators in the bond market, specifically the gap between Treasury yields and swaps of equivalent duration, have narrowed, implying global investors are more willing to hold Treasuries. By the numbers: The 30-year Treasury yield reached a 19-year high of 5.31% on Aug. 17. Since then, those yields have come down, to 5.19% this morning. The more widely traded — and economically consequential — 10-year Treasury note is now yielding 4.66%, down from 4.72% on Aug. 17. Between the lines: Treasury Secretary Scott Bessent, a longtime hedge fund manager, believes that carefully crafted interventions can have outsized effects on the market by changing traders' behavior, persuading them that betting against the U.S. government would be hazardous. In the early innings, at least, he appears to be achieving his goal of making it riskier for investors to bet against long-term Treasuries. What they're saying: "This new Treasury 'put' improves the asymmetry of owning the long end by providing a potential light backstop," Jason Williams, head of U.S. rates strategy at Citi, tells Bloomberg . Bessent's actions "all point to someone ready to do whate
Plus Apple, Meta and Alphabet (on Base)... 🥛 Coinbase put Nvidia onchain ⛓️ Plus Apple, Meta and Alphabet (on Base)... Chevy Cassar GM. This is Milk Road, the daily newsletter that just extended its Milk Road PRO price increase window by 24hrs. Prices go from $25/m to $39/m at midnight tonight (ET)! Last chance to lock in lower prices for life! Here’s what we’ve got for you today: ✍️ Coinbase put Nvidia onchain. 🎙️ The Milk Road Show: Bitwise Just Launched the Next Generation of Onchain Investing . 🍪 "I believe Ethereum will outperform Bitcoin this year.” Ledn gives you an indirect way to get professional, institutional-grade custody. See how Ledn stores your BTC. Prices as of 2:00 p.m. ET. Powered by CoinGecko. COINBASE PUT NVIDIA ONCHAIN ⛓️ Coinbase spent Monday putting four American tech stocks onchain. Nvidia, Apple, Meta and Alphabet went live as tokens on Base, where anyone eligible outside the U.S. can hold them in a self-custody wallet with no brokerage account involved. They trade 24/7, which is already more than the actual stock market manages. The plumbing works like this: A market maker buys the real shares → Alpaca (an SEC-registered broker-dealer) holds them in a segregated account → and you get a token that's a claim on that share (with dividends and stock splits passing through to the token). Which sounds neat… But, why bother when stocks are already easily tradable elsewhere? Because a token can plug into other software, while a brokerage account can't. Roughly 50 Base apps supported these on day one. Aave and Morpho for lending, Aerodrome for spot trading, Wasabi for options. I.e. you could post your tokenized Nvidia as collateral and borrow against it at 3am on a Sunday, which your broker will absolutely not let you do. As for actual demand on day one, it was modest: Tokens minted: ~$4.55M. Onchain liquidity: ~$3.06M. First 24 hours of trading: $10.8M. Holders of NVDAc, the biggest of the four: 1,745. That's arriving into a tokenized stock market worth $2.48B - one that's nearly doubled since March. Source: RWA & DEX Screener Coinbase turned up last, and smallest, to a party that's been going on for a while. Good news is, this market’s so dang big that I doubt ‘first’ is going to be the deciding factor… THE HIDDEN COST OF SELF-CUSTODY Coldcard users lost over $130M in Bitcoin last month. That's the uncomfortable truth about self-custody: You're responsible for keeping your Bitcoin safe. And if something goes wrong with your wallet, setup, or security, there may be no one to call. That’s where Ledn offers a different approach. They give you an indirect way to get professional, institutional-grade custody. Here’s how your crypto is safe with Ledn : Institutional-grade custody via BitGo Your collateral stays separate ( Ledn can't lend it out on the side) Reserves are independently confirmed every six months With Ledn , professional custody gives you a different layer of infrastructure and security. 👉 See how Ledn stores your BTC. COINBASE PUT NVIDIA ONCHAIN (P2) ⛓️ Right now, Americans can't buy any of these onchain stocks. These tokens are sold under Regulation S, the rule covering securities offered only to non-U.S. buyers. Coinbase asked the SEC for domestic permission back in June 2025 and is still waiting. Which sounds like a handicap, until you look at what sits on the other side of that border. Global stock markets are worth $157.8T, and the U.S. accounts for $68.9T of that. So the slice Coinbase can already sell into is roughly $89T of equities, against $2.48B of tokenized stocks across every issuer combined, with Citi wagering that tokenized securities reach $5.5T by 2030. I.e. There’s plenty of room to grow: Source: SIFMA & RWA Kyle (our Head of Research) has been waiting for someone to build this properly, and I’m going to borrow his take on why the earlier attempts fell short… 24/7 trading is a nice feature, but composability with DeFi is the part that legitimately matters. Tokenized stocks only pull people out of brokerages once they carry the same rights as a brokerage share and let you do more with them than a brokerage allows. Coinbase has both now. Dividends and splits pass through, and Aave, Morpho and Euler will lend against them. Giving a retail investor the ability to borrow, lend and earn against stocks they already own is the thing that will move them onchain. Nothing before this managed to do that without piling on extra risk. The still-yet-to-be-answered question is whether non-crypto people will bother making the move. Kyle's guess is that it takes real incentives, plus a simple way to shift existing holdings across (the way you'd transfer an account between brokers today). Get that part right and it becomes a no-brainer. Which brings us to COIN itself: Kyle's been holding since $35, bought near the last bear market lows, and it's one of his biggest positions. His argument is that Coinbase hands you crypto upside with a floor underneath it: Up 30% this week, against BTC 's 22% and ETH 's 27%. Beat ETH by 3x and BTC by 2x through the last bull market. Revenue from stablecoins, stock trading and prediction markets that don’t swing with crypto prices. Exposure to Bitcoin and Ethereum through its balance sheet and Base, plus Solana, Circle, OpenUSD, Hyperliquid's USDC treasury, and a venture arm across the whole industry. The catch being you can't self-custody a share of COIN, and you're trusting Brian Armstrong's team to keep executing. (Kyle's cool with both.) What we’re watching for from here: More TradFi tickers landing onchain within the next few weeks. Whether Coinbase builds that transfer path. The CLARITY Act vote in September. Keep your eyes peeled! Oh, and btw - Kyle publishes every entry and exit with the reasoning attached, before the position moves rather than after. That happens inside Milk Road PRO, which goes from $25/m to $39/m at midnight tonight! Get it before then and lock in lower prices for life! BITE-SIZED COOKIES FOR THE ROAD
Plus: Nvidia's state of AI | Wednesday, August 26, 2026 Axios Closer By Nathan Bomey · Aug 26, 2026 Wednesday ✅. Today's newsletter is 761 words, a 3-minute read. 🔔 The dashboard: The S&P 500 closed nearly flat. 🔥 Today's stock spotlight: Salesforce shares jumped 13% in extended trading after the cloud software vendor delivered better-than-expected Q2 results and a surge in revenue from Agentforce AI products. 1 big thing: Meta settles Illustration: Sarah Grillo/Axios. Stock: Getty Images Meta agreed to settle with U.S. states for up to $16.7 billion in a landmark deal over allegations that Facebook and Instagram were designed in ways that harm children. The settlement resolves a massive case brought by states going back to 2023, in a trial where plaintiffs were seeking roughly $200 billion in damages. On that end, investors breathed a sigh of relief today, with shares — which began the morning down 13.5% for the year — closing up 1%. Meta also agreed to enact new features on its platforms aimed at addressing risks to children. What we're watching: The rest of the social media giants are now on notice. Immediately after the settlement, Meta issued an open letter to TikTok and YouTube calling on them to join the deal. The intrigue: About $5 billion of Meta's settlement kicks in only if those companies also settle with states on two conditions: Imposing a one-hour daily usage limit, night restrictions and age assurance features. Paying about $5 billion each. What they're saying: The New York Times said the settlement "could signal an inflection point for a social media industry." Others, however, called on Congress to establish permanent rules. Axios' Maria Curi and Ashley Gold note that the settlement underscores years of congressional deadlock over kids' online safety legislation. Context: At roughly $17 billion, the Meta settlement is on par with historic federal civil settlements like the Volkswagen " Dieselgate " scandal and the BP Deepwater Horizon deal. But it's a small fraction of the 1998 tobacco deal, under which states collected more than $200 billion. Go deeper 2. Nvidia's state of AI address Nvidia CEO Jensen Huang. Photo: Patrick T. Fallon/AFP via Getty Images Nvidia topped revenue and earnings expectations in its latest quarter, and shares jumped in extended trading on a rosy growth forecast for next year. The AI darling posted revenue of $96.2 billion in Q2, more than doubling its showing a year earlier, while net income jumped 126% to $59.7 billion. That exceeded S&P Capital IQ expectations of $92.1 billion in revenue and $51.2 billion in earnings for the period ended July 26. Revenue from data centers — Nvidia's largest source of sales — rose 117%, to $89 billion. The company projected revenue of $108 billion for its next reporting period, "plus or minus 2%." That would be the first time Nvidia has exceeded $100 billion in a quarter. ‼️ But investor's ears perked up on another figure. Shares, which were initially trading flat in extended trading, jumped 4% when CFO Colette Kress said on an earnings call that Nvidia expects to grow its revenue 70% in the 2028 fiscal year — and that it would be closer to 100% if the company wasn't supply constrained. Go deeper 3. Other happenings Photo: Daniel Acker/Bloomberg via Getty Images ⚙️ Amazon is shutting down its Mechanical Turk program, through which humans performed simple digital tasks, often for pennies per job. ( CNBC ) 👕 Abercrombie & Fitch shares skyrocketed after the retailer beat revenue expectations and upped its forecast, with its namesake brand surging. ( Bloomberg ) 😈 Boston Scientific is grappling with a cyberattack that has disrupted its global operations, sending its stock down. ( CBS News ) A MESSAGE FROM AXIOS Why Media Is Betting Big on Live Experiences Media companies and brands are pouring money into live experiences as digital attention gets harder to capture. In the latest Media Trends Executive deep dive, Sara Fischer and Kerry Flynn examine what's driving the boom – and where risks are emerging: Why consumers keep paying more for premium experiences, even as prices rise. How brands are chasing audiences IRL through experiential marketing and out-of-home advertising. How new event technology is changing the trade-off between security and privacy. 🔒 Get the full analysis – and exclusive intelligence on the forces reshaping media – by becoming a Media Trends Executive member. 4. Unrivaled returns Photo: Carmen Mandato/Getty Images Unrivaled, the 3-on-3 women's basketball league, has raised $106 million in new funding and now is valued at around $650 million, Axios' Dan Primack writes . That's about double the valuation from its Series B round last September. Catch up quick: The league, co-founded by WNBA stars Breanna Stewart and Napheesa Collier, is entering its third season in January. 💸 Revenue jumped to $45 million last year from $27 million in its first season. 📺 The league is in the middle of a six-year media rights deal with TNT. The intrigue: Its largest shareholder group is its players — currently 54 across eight clubs — whose equity pool is now worth close to $200 million. The big picture: Star players have flocked to Unrivaled because it offers high salaries for short seasons — an attractive alternative to playing overseas. A MESSAGE FROM AXIOS Why Media Is Betting Big on Live Experiences Media companies and brands are pouring money into live experiences as digital attention gets harder to capture. In the latest Media Trends Executive deep dive, Sara Fischer and Kerry Flynn examine what's driving the boom – and where risks are emerging: Why consumers keep paying more for premium experiences, even as prices rise. How brands are chasing audiences IRL through experiential marketing and out-of-home advertising. How new event technology is changing the trade-off between security and privacy. 🔒 Get the full analysis – and exclusive intelligence on the forces reshaping media – by becoming a Media Trends
Decentralization now has a deadline Byron Gilliam “It is important to write rules that well-intentioned people can follow.” — Hester Peirce The SEC sets crypto free US regulators have always said that a token representing a decentralized protocol would be free from securities law. The problem was how to get to decentralization. It’s not easy. Crypto protocols are ultimately products, and building a product that people want to use generally involves a lot of centralized activity: raising money, developing software, iterating on ideas, marketing. Getting to community ownership — and therefore freedom from securities law — requires the kind of essential managerial efforts that make an asset a security in the first place. As SEC Commissioner Hester Peirce put it in 2020, “Proving that tokens have utility prior to being distributed to a widespread user base is difficult.” She recognized this as a Catch-22: Would-be networks cannot get their tokens out into people’s hands because their tokens are potentially subject to the securities laws. However, would-be networks cannot mature into a functional or decentralized network that is not dependent upon a single person or group to carry out the essential managerial or entrepreneurial efforts unless the tokens are distributed to and freely transferable among potential users, developers, and participants of the network. Six years later, the crypto task force Peirce leads for the SEC has proposed a solution — a way for growing crypto assets to shed securities law like a butterfly shed its chrysalis. Regulation Crypto Asset’s Safe Harbor Rule proposes that tokens will be set free when their issuer has “completed or otherwise permanently ceased all essential managerial efforts” related to the protocol they represent. Until then, tokens sold to investors are considered investment contracts (and therefore securities). But Regulation Crypto Asset (RCA) offers a temporary exemption from securities law while protocols remain centrally managed. This would grant developers as much as four years to do what crypto protocols were originally supposed to do: operate without centralized control. I’ve phrased that awkwardly because the proposal doesn’t necessarily require that a protocol be decentralized for its token to cease being an investment contract. It can also just be “functioning.” Specifically, the proposal explains that protocols will exit the regulatory regime when they’ve “matured into a decentralized or functioning network that is not dependent on a single person or group to carry out the essential managerial or entrepreneurial efforts." Exactly what qualifies as functioning is not fully spelled out. But the distinction allows for a remarkable concession: crypto developers will be able to continue working on their projects after their token has been granted immunity from securities law. "It is our view that services to secure, maintain, improve, or enhance such a network or application or its functionality, or to facilitate network effects, whether through sponsoring or funding development projects or other similar activities, would not constitute essential managerial efforts," the proposal says. In short, exemption from securities law does not require that developers abandon their projects. Rather than demand that every protocol be as perfectly decentralized as Bitcoin, the rule only requires reliance on a broader community: "The activities of and contributions made by many parties (including, for example, the issuer, other developers, validators and/or miners, liquidity providers, users, and holders of the crypto asset) would affect the failure or success of the associated crypto network or associated crypto application after such network or application is functional." In that sense, “functional” reads like a highly practical version of “decentralized.” That is a generous concession to the crypto industry — and one that might improve it. The SEC’s functional criteria seem to exclude crypto projects that are decentralized in name only — the all-too-common practice of protocols being governed by a handful of developers in control of a multisig that implements DAO votes they can simply ignore. In this, the SEC seems to have taken crypto’s professed principles of community governance seriously — perhaps more seriously than crypto itself typically has. How many protocols are genuinely governed by their token holder communities? Various studies suggest it’s not many. Despite the industry’s poor track record in that regard, the SEC has also proposed to allow crypto projects to decide for themselves when they’ve achieved functional decentralization. Their safe-harbor test to exit from securities law is based on promise fulfillment: protocols are expected to self-certify that their managerial efforts have successfully resulted in a decentralized or functional network. This allows the SEC to avoid being the arbiter of exactly what is and isn’t decentralized or functional, which is welcome. It also creates an odd incentive for developers to under-promise: the less they promise to do, the easier it will be to say they’ve done it. Kind of weird. It could lead to developers being even more opaque about what exactly they’re doing. But also kind of useful? For an industry that has chronically over-promised and under-delivered, toning things down a bit might not be such a bad thing. Could the SEC even end up making crypto fulfill its original promise? The funniest thing about Regulation Crypto Assets may be that it finally gives crypto a reason to become what it always said it would be: genuinely — or at least functionally — decentralized. The crypto industry spent years trying to convince regulators that decentralization was the point. It may now take regulators to convince crypto. — Byron Gilliam Brought to you by: Avalanche Summit NYC returns September 16–17, bringing together the institutions, enterprises, investors, and builders turning blockchain technology into
Meta agreed to an $18 billion settlement... August 27, 2026 Presented By Duck! Yesterday, in the small town of Buñol, Spain, thousands of people gathered to be left on red. The revelers attended the town’s annual tomato-flinging food fight, a tradition dating back to 1945 and now attended by international tourists, subject to only one rule: squash the tomatoes before you toss them. This year’s event included 165 tons of tomatoes. While the world’s biggest food fight leaves behind an epic mess , don’t feel bad for the town: Because of the citric acid contained in the tomatoes strewn everywhere, the cleanup leaves Buñol more sparkling than it was before. — Dave Lozo, Molly Liebergall, Matty Merritt, Abby Rubenstein In today’s newsletter, we’ll get into: Meta’s $18b settlement of a landmark social media addiction case Nvidia’s big growth prediction Why retirees are choosing Delaware Markets Nasdaq 26,130.2 -0.08% S&P 7,675.7 -0.02% Dow 53,463.88 -0.21% 10-Year 4.664% +2.0 bps Bitcoin $78,725.1 +0.22% Abercrombie $147.75 +35.67% Data is provided by *Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean. Markets: Stocks did their best pancake impression yesterday, closing mostly flat , with investors bracing for Nvidia’s earnings after the bell (more on that below) and digesting the news that the Fed’s favorite inflation gauge showed sticky inflation in July. Stock spotlight: Yesterday was a good day for mall lovers: Abercrombie & Fitch raised its outlook for the year as it reported rising profits and sales. That gave the chain even more of a boost than a teen gets at the school dance for overapplying its cologne. Markets Sponsored by Frontieras Last call: Nasdaq ticker “$FASF” reserved. Frontieras isn’t public, but you can buy private-stage shares as they turn coal into a $2.1t opportunity. Investment opportunity closes tonight . MINOR ADJUSTMENTS Meta settles children’s mental health case for $18b Benjamin Fanjoy/Getty Images Meta agreed to pay as much as $18 billion to settle a federal lawsuit brought by California and other states that accused the company of using practices intentionally designed to keep children addicted to its platforms and of collecting data from children under the age of 13 without parental consent. “As much as” means that Meta will pay the 47 states involved in the settlement $12.7 billion over the next 10 years. Meta will only pay the remaining $5.3 billion if its rivals TikTok and Google’s YouTube also implement similar safeguards to the ones Meta agreed to as part of its deal to resolve the suit — and kick in a matching $5.3 billion of their own. Meta did not admit wrongdoing as part of the settlement. Here are some of the Facebook and Instagram changes Meta agreed to make: Time limit: Users aged 13 to 17 will only get two hours per day for brainrot on its platforms. Night mode : Teens will be blocked from the apps between midnight and 6am. School mode: There’ll be no push notifications for teen users during school hours of 8am to 3pm. Meta will also hide likes and reactions from minors on posts by default and block “extreme makeup filters,” although adults will still be able to yassify themselves and their pets. The impact on Meta’s business Fewer kids spending time on Instagram looking at reposted MrBeast content at 3am could impact Meta’s ad business. Yesterday, the company said it expects to “accrue a legal expense of approximately $10 billion in the third quarter of 2026 related to the agreement.” But the deal takes away the existential threat Meta was facing from the trial, as the states were seeking up to $1.4 trillion, which is close to Meta’s whole market cap. Investor reaction: Meta shares had an up-and-down day yesterday, but ultimately finished slightly up when the market closed. There’s still litigation to come… Florida’s attorney general, James Uthmeier, is not part of this deal and has sued the company separately. Meta is also facing other lawsuits from individuals and school districts. Meta plans on fighting those cases, saying it sees them as weaker than the one it settled yesterday, according to the Washington Post. —DL Sponsored By Frontieras Final Day: Others burn coal while they bank it One lump of coal holds six separate commodities. But almost every company on Earth just sets it on fire. Frontieras patented a way to split it apart instead. And with just hours left before their investment opportunity ends , the time is ripe. Their process produces hydrogen, diesel, jet fuel, fertilizer, and more from the same ton of coal without burning any of it. And with nine patents, no competitor could likely replicate it. They’re currently building an $850m production facility in West Virginia. Everything that plant will produce has already been sold, locked under 10-year agreements. Today’s your last chance to claim a piece . One rock, six markets, totaling $2.1t. Invest before Frontieras’ midnight PT deadline . World Tour de headlines Philip Fong/Getty Images 📈 Nvidia predicts 70% revenue growth in 2028. The AI chipmaker told investors yesterday it expects to keep growing—a lot, and that quieted their AI bubble fears enough to send the stock up 4.71% in after-hours trading last night. Nvidia’s earnings report is widely viewed as a proxy for the AI industry as a whole, and the company’s $96.22 billion in Q2 revenue trounced expectations. Still, Nvidia’s stock initially dipped in response, that is until CFO Colette Kress said during a post-earnings conference call, “We expect to grow revenue by approximately 70% in fiscal 2028.” That’s compared to analysts’ expectations of 45% growth, and Kress said that demand was even stronger but the forecast reflected supply constraints. 💔 At least 160 dead and hundreds missing after flash floods in Nepal and China. The massive flash floods that hit the border area yesterday were likely triggered by an ice avalanche from a glacier in the Himalaya region, experts said . The
Plus: Gas stunner | Thursday, August 27, 2026 Axios Markets By Emily Peck and Matt Phillips · Aug 27, 2026 Welcome back. It's the last Thursday of August. Is that something? Nvidia's bullish earnings have kicked off a rally in chip stocks this morning, lifting Nasdaq futures up about 1%. Before the market opens, we'll get some insight into the state of the American consumer, with Dollar General, Dollar Tree and Best Buy all reporting earnings. 🗓️ Today, we're looking at Nvidia's numbers. Guys, they're real big. And, Axios' Ben Geman drops by with some news on another part of the build-out — it's a gas. Let's just get into it. In 983 words, a 3.5-minute read. 1 big thing: What we learned from Nvidia By Emily Peck Data: Source: S&P Capital IQ Pro, company releases; Note: Nvidia's fiscal year runs ahead of the calendar. The quarter ended July 2026 is its Q2 fiscal 2027; Chart: Emily Peck/Axios AI behemoth Nvidia reported blowout earnings yesterday — exceeding Wall Street's expectations — and even jaded investors who had grown a bit immune to the company's stratospheric growth over the past year seemed to like it. Why it matters: The chipmaker's earnings are viewed as a barometer of the overall health of the AI trade. Every three months when it reports its financials, Wall Street combs through the numbers for signs the whole shebang is slowing down. By the numbers: The numbers are bonkers. Nvidia's revenue was $96.2 billion in the second quarter — up more than double from the same period a year ago. The latest: After chief financial officer Colette Kress told investors that the company expects revenue will jump another 70% next fiscal year — the expectation was 45% — the stock is up 7.36% in pre-market trading this morning. It didn't hurt that Kress also announced that Amazon would be buying an additional 2 million chips. Zoom in: Here are a few other takeaways that stood out: Supply chain problems. Nvidia is just like everyone else, squeezed by the surging demand for memory chips. The company said that price increases in the space are exceeding its expectations and shrinking its margins slightly for the year to come. This is a good problem to have, Kress said. Memory scarcity is being driven by the AI buildout — it's good for business. "Unlike a component that simply raises our cost with no offset benefit, tighter memory supply is a symptom of the same demand surge that's driving our own growth." Buyback flex. If you want to understand how the mammoth chipmaker stands apart from the other companies in this space — the hyperscalers, frontier models and so forth — look no further than stock buybacks. Big Tech companies for years have led stock buybacks — but in the AI buildout, that has largely stopped or slowed. Alphabet repurchased zero shares in its most recent quarter. Nvidia is buying back $19 billion — more than last year. The breadth of the boom. It's more than just the tech giants. "Most people see just hyperscalers," chief executive Jensen Huang told investors. "That's half the picture." The CEO said the other half driving AI demand is "sovereign AI," or when countries build their own AI infrastructure, as well as the enterprise market, or all the other firms using AI. "Everybody wants to be part of the AI revolution," Huang said. "Everybody has to build infrastructure." Yes, but: There's little doubt that Nvidia has a huge business on its hands. But there are worries that it sits at the heart of an ecosystem that has yet to prove its value. The company is frequently accused of "circular financing," or lending money, or backing funding, for customers who then push that money back to buy Nvidia tech. Executives were on the defensive about that yesterday. Huang also took care to defend the company's $50 billion investment in the frontier AI labs. "Investing in these companies is a once-in-a-generation opportunity," he said, noting that two of these companies "will likely go public soon," probably referring to OpenAI and Anthropic. The bottom line: Nvidia is making real money, and investors seem to grudgingly have to hand it to them. What to watch: The stock today. Nvidia's stock price has fallen the day after five of its last six earnings reports, as Bloomberg points out . A MESSAGE FROM AXIOS Break through the noise with Axios Reach execs and business leaders with Axios. We'll help you tell your story in the right way: We'll distill your brand's message into its most effective form with Smart Brevity. No clutter, no filler — just clean, smart and effective. Contact us to learn more. 2. A stunning U.S. gas build-out is coming — maybe By Ben Geman Data: Global Energy Monitor ; Note: Less than 4% of these projects are oil-fired, largely concentrated in Iraq; Chart: Ben Geman/Axios A new report underscores two truths about U.S. plans for gas-fired power plants: The numbers are stunning, yet stunningly speculative. Why it matters: The AI boom is driving proposals for massive projects to supply data centers and other needs. The ballooning pipeline is bringing fresh fears about carbon emissions and localized air pollution. It's also a big challenge for regulators and planners. "It is nearly impossible nowadays to guess what is a pie in the sky proposal, and what has a real chance of getting built," said report author Jenny Martos of Global Energy Monitor. Stunning stat: The amount of U.S. capacity somewhere in the development pipeline doubled in the first half of 2026, per Global Energy Monitor's analysis . A whopping 189 gigawatts is planned for on-site data centers through the first half of 2026, roughly doubling (!) the pipeline at year-end 2025. Driving the news: Overall, the U.S. pipeline has soared to 378 gigawatts, per the nonprofit that closely tracks projects internationally. More concretely, projects under construction climbed 76% in the first half of 2026 to 52 GW, around twice what China is currently building. A gigawatt can power roughly 750,000 U.S. homes. Reality check: If al
Plus: What to do when clients don't listen. August 27, 2026 PRESENTED BY Good morning. When was he going to tell them about it? Forbes and Shook Research have suspended all wealth advisor rankings and events for the rest of the year after The New York Times reported that Forbes editor Randall Lane was fired for receiving an undisclosed $6 million payment from Shook founder RJ Shook. Forbes says it has found no evidence that the integrity of its rankings or editorial decisions were compromised. However, Morgan Stanley and Wells Fargo have already withdrawn from participating in the rankings. Shook, meanwhile, says the $6 million was compensation for services including help with the sale of a majority stake in Shook Research to a private equity firm last year. We recommend Lane use those funds to invest in a new hat. We’re not sure fedoras are really his look. INDUSTRY NEWS What’s Behind Vanguard’s Deal to Buy Altruist? Photo via Rafael Henrique/ZUMAPRESS/Newscom Unexpected, yes. But was it also unavoidable? Vanguard, which rarely makes corporate acquisitions, yesterday agreed to buy Altruist, a wealthtech platform and custodian for independent advisors. “As more investors in Vanguard funds choose to work with financial advisors, we see a significant opportunity to build on the strengths of two complementary organizations to help advisors serve clients more effectively,” Ramji said. The deal is worth about $4 billion, according to The Wall Street Journal . The acquisition is the latest step in CEO Salim Ramji’s push to move Vanguard beyond low-cost asset management and deeper into financial advice. “It was inevitable that something like this was going to happen,” said Doug Fritz, co-founder of wealth consultant F2 Strategy. “Ever since the start of the robo-advisor days, the industry’s been waiting for this golden conversion of asset and wealth management.” You Want My Advice? Since 2018, Altruist has emerged as a challenger to legacy custodians such as Charles Schwab and Fidelity, serving more than 6,000 independent advisors. In February, it launched an AI tool through its Hazel platform that can analyze documents and generate personalized tax strategies, briefly shaking up brokerage stocks. “Altruist was built on the simple belief that when independent advisors have better technology and lower prices, they can do their best work,” founder and CEO Jason Wenk said. As for Vanguard, the firm has been building out its advice business since Ramji took over as the company’s CEO in 2024: Vanguard established a dedicated advice and wealth management division in December 2024. Over the past two years, it has significantly expanded its advisor-facing model portfolio offerings. This month, the firm rolled out its first customizable model portfolios . Vanguard plans to fully launch AI capabilities for its Digital Advisor service in 2027, connecting the tools directly to investors’ portfolios to provide personalized financial planning. Independence Day. Vanguard said Altruist will continue operating as its own business, retaining its leadership, brand and advisor focus. Advisors may still have concerns about what Vanguard ownership means for its independence and innovation. “Altruist clients are typically the small, nimble, fast-growing mammals in an old dinosaur ecosystem,” Fritz told Advisor Upside. “If Vanguard comes in and stops all the innovation progress that Jason and his team have been building, then yeah, it will be a problem.” Others argue advisors shouldn’t get too attached to vendors. “For all my financial advisor friends, please let this be a reminder,” Manish Khatta, CEO of investment strategies firm Potomac, wrote on LinkedIn. “Stop getting caught up with the nonsense of technology and the narratives in our industry.” Khatta applauded the deal but said advisors shouldn’t mistake custodians or technology providers for true partners. They should focus instead on the thing that gives their own businesses value: growing assets under management. He also called himself “Daddy Manish” in the post. That’s not news, but we do think it’s noteworthy. Written by Griffin Kelly PRESENTED BY ADVYZON Software Should Learn You Advyzon has spent more than a decade rethinking how advisors use technology. Now, their original product innovators are rethinking it again. Advyzon didn’t bolt AI onto a fragmented tech stack. They didn’t give it a clever name and call it innovation. They built Advyzon AI into the unified platform they’ve been developing since day one — where advisor data, workflows, relationships, and actions already live together. That gives their AI something generic tools have to chase: context. Advyzon AI starts by understanding advisor work. Then it learns your firm, your clients, your workflows, and how you like to work — becoming more useful as you use it. Because the future isn’t learning another piece of software. It’s software that learns you . Meet Advyzon AI. PRACTICE MANAGEMENT Client Didn’t Take Your Advice. Don’t Take It Personal Advisors advise … duh! It’s in their title. But sometimes clients don’t listen. Less than 30% of American adults can correctly answer Stanford University’s “Big Three” questions on interest, inflation and diversification. It makes sense, then, that people hire professionals to manage their finances. But clients don’t always take their advice — or even ask for it before making a potentially costly financial decision. It can be frustrating, but advisors need to remember that clients aren’t professionals and it’s still a learning process for many. “There’s a lot of bad habits that take a long time to break,” said Bryan Byrer, founder of Millennial Financial Planning. “You’ve got to give yourself and clients grace because it’s not a personal knock against you as an advisor.” See You on the Back Nine Recently, one of Byrer’s clients made an expensive purchase without consulting him: a golf cart. “I’m actually friends with the client, so I saw it on their Inst
Crypto holds the rebound as markets wait for the next policy catalyst. 🚨4 Clever setups as Nvidia Earnings Clears the Air Crypto holds the rebound as markets wait for the next policy catalyst. Aug 27 READ IN APP None of this is financial advice. Do your own research. By reading this newsletter, you acknowledge and accept the terms and conditions outlined in our disclaimer . Hey Traders, Nvidia finally took the AI-demand scare off the table. The print and the multi-year guide flipped semiconductor stocks from a fade into a bid, and risk assets that had been waiting on that confirmation started to breathe. Crypto did not melt up on the headline. It held the rebound and let Solana lead. The leftover catalyst is policy, not chips. Jackson Hole is open and Warsh speaks Friday, with the committee still split on whether inflation is a shock or an overheating story. Oil eased as Hormuz diplomacy improved, which takes some heat out of the macro tape even as geopolitical risk has not gone away. Our desk is treating today as one risk retired and one still live. Until Warsh speaks, this is a constructive tape, not a finished regime shift. Poll of the Day ( Presented by Rain Trade ) 🎯 POLL Which shows the strongest relative strength right now? 🟣 Solana 🟠 Ethereum 🔵 HYPE ⚫ Bitcoin Today’s Charts: Chart #1 – Velodrome(VELODROMEUSDT) 90-min Chart #2 – XRP(XRPUSDT) 90-Min Chart #3 – ONDO(ONDOUSDT) 4-Hour Chart #4 – INJ(INJUSDT) 8-Hour Chart #5 – Hut 8 Corp (HUT) 2-Hour Chart #1 – Velodrome(VELODROMEUSDT) 90-min( Powered by Rain Trade 📊) Chartist: Trader J (For the chart screenshot, ) VELO has created a higher high, and I’m looking for a retrace into the 0.618 Fib, VAL, order block and anchored VWAP from the local lows. Strong horizontal support here for a continuation move and potential lower high. Trade Levels: Entry: $0.02037 Stop Loss: $0.01966 Take Profit Levels (TP): TP1: $0.02157 Powerful narratives create powerful moves. With 247 Research , you get the insights to be early to the biggest trends in crypto. Chart #2 – XRP(XRPUSDT) 90-Min ( Powered by Rain Trade 📊) Chartist: Trader J (For the chart screenshot, ) Looking for an XRP short back into the $1.51–$1.53 resistance zone, where we have the 0.5 Fib, VAH and strong horizontal resistance. Every test of this area has been rejected so far. The POC around $1.48 is another level to watch on the retracement. Trade Levels: Entry: $1.51 Stop Loss: $1.56 Take Profit Levels (TP): TP1: $ 1.30 Chart #3 – ONDO(ONDOUSDT) 4-Hour( Powered by Rain Trade 📊) Chartist: Panda (For the chart screenshot, ) ONDO has been ranging above the 50/100sma while respecting them as support on the 4h timeframe. the 4H stochs showing signs of a bullish divergence in play with an oversold signal indicating a potential reversal. ONDO has also been holding the Yearly Open level as temporary support. Any pullbacks to retest the 50/100 + Y.O level could be an opportunity for a long. Confluence: .382 + .5 fib + 100SMA + 50SMA + Y.O + local vwap. Trade Levels: Entry: $ 0.36 Stop Loss: $0.34 Take Profit Levels (TP): TP1: $ 0.39 Midterms vs. Trump: The Oldest Rule in Politics Meets the Biggest Exception Every midterm punishes the president’s party. Rain Trade has Republicans at 16%. The pattern says Democrats win. This market isn’t asking who wins. It’s asking, is Trump the exception or the rule? The 86% price says “rule.” The 16% price says “exception.” Both are live. Both have arguments. Neither is official. Trade on Rain Trade Chart #4 – INJ(INJUSDT) 8-Hour( Powered by Rain Trade 📊) Chartist: The Nagel (For the chart screenshot, ) INJ long idea is price is now above all the Daily MA’s and Im looking for a bullish retest of POC, other confluence factors around the POC level is the local up trend VWAP the local down trend VWAP all the MA’s are now pointing up and there is also the 0.5Fib Trade Levels: Entry: $5.044 Stop Loss: $4.746 Take Profit Levels (TP): TP1: $6.286 Chart #5 – Hut 8 Corp (HUT) 2-Hour( Powered by Rain Trade 📊) Chartist: The Nagel (For the chart screenshot, ) (HUT refers to the stock of Hut 8 Corp and not a cryptocurrency.) HUT has come back and test the 0.618 and VAH , deviation is in play and im looking to long the confirmation of the actual deviation , not looking for new highs but a bearish retest of the ATH Vwap Trade Levels: Entry: $80.33 Stop Loss: $74.23 Take Profit Levels (TP): TP1: $ 100 Banter’s Take We view Nvidia’s earnings and the resulting semiconductor rebound as a key risk-off catalyst cleared, yet the market remains sensitive to the broader policy narrative still unfolding at Jackson Hole. Warsh’s upcoming speech and the committee’s debate on inflation will define whether this is a temporary relief rally or the start of a sustained regime shift. Our team is closely watching how crypto assets like Solana and traditional risk markets respond to these policy signals. While the technicals suggest constructive setups across the board, the macro tape is still waiting for confirmation that the “shock” narrative has truly been replaced by an “overheating” story before we commit to a full bullish conviction. As we move forward, our strategy prioritizes measured exposure aligned with these evolving conditions rather than chasing momentum on headlines. We will continue to refine our outlook based on incoming data, ensuring our trades remain grounded in the confluence of technical structure and fundamental catalysts that define our research methodology. Get 247 Research to stay synced with Kapoor’s macro watch and level-driven execution. Start FREE Trial In a market where execution quality and reliable resolution can make a real difference, we’ve been using Rain Trade for our prediction market activity. Clean and fast order execution with minimal slippage when buying and selling event shares Permissionless market creation, allowing anyone to launch custom public or private prediction markets Reliable resolution powered by AI-hybrid oracles with human escalation wh
Nvidia crushes forward guidance while Solana passes landmark disinflation tokenomics Nvidia Clears The Deck Ahead Of Jackson Hole Showdown Nvidia crushes forward guidance while Solana passes landmark disinflation tokenomics Aug 27 READ IN APP None of this is financial advice. Do your own research. By reading this newsletter, you acknowledge and accept the terms and conditions outlined in our disclaimer . GM Investors Nvidia did what semiconductor stocks are supposed to do when the AI tape is under interrogation. It beat, it guided, and it gave the market a full-year map it had never offered before. Revenue landed at $96.2 billion against a $92.3 billion Street number. Data-center sales hit $89 billion, up 117% year over year. The October-quarter guide is $108 billion, plus or minus 2%, versus consensus near $104 billion. This is more important for analysis of the crypto markets than the print itself. Risk assets have been trading two overhangs: whether AI capex is circular and whether Fed policy under Kevin Warsh tightens into that boom. One of them is smaller now. Shares in the AI complex rose in step with Nvidia. The second overhang is still in play. Warsh is speaking Friday at 10 a.m. Eastern in Jackson Hole. We believe that is the final macro catalyst in the near term on the calendar. Oil slipped towards $86-$87 a barrel for Brent as the talk on the Hormuz improved, even as the geopolitical risk around Russia remains messy. Liquidity favours a cleaner AI tape and softer crude. Here’s what our traffic desk is seeing. Stop Trading Headlines. Start Trading Alpha. The desk that moves before the market does • Live community of traders who actually execute, not just talk • Real-time calls dropped while the candle is forming, not after it closes • 4.9/5 rating by 1000+ traders because signal beats noise, every single time Join 247 Research. Get the 24/7 terminal free. 50% off your first month, USE CODE: terminal ($100 off) Nvidia Overhang Down, Fed Policy Next Yesterday's headline earnings figures were not the only thing Nvidia outperformed. The business significantly rebuilt trust in international stocks. Quarterly revenue increased from $46.7 billion to $96.22 billion, more than doubling from the previous year. During the analyst conference call, management also directly addressed concerns about circular financing. After the announcement, the stock increased by more than 8%. The tech industry as a whole emerged from its multi-week consolidation thanks to this enormous response. Additionally, it removed a significant downside tail risk for stocks going into September. Macro trading now depends solely on tomorrow's Jackson Hole appearance since semiconductor stocks have stabilised. Tomorrow morning at precisely 10:00 AM, Federal Reserve Chairman Kevin Warsh will take the podium in Wyoming. Jackson Hole appearances have historically caused a significant de-risking of all cryptocurrency assets. Pre-event drawdowns for Bitcoin have ranged from 9% to 31% in previous symposium cycles. Before central bankers make their monetary trajectory clear, traders frequently lower their exposure. But overall macroeconomic conditions appear much more stable now. The containment of oil prices lowers headline inflationary pressures in global supply chains. This week has seen no new energy shocks or supply interruptions due to geopolitical risk. Warsh's well-rounded speech will remove the last obstacle to the growth of risk assets. As a result, analysis of the cryptocurrency market is now primarily concerned with cyclical technicals. Bitcoin Cycle Bottom Signals Emerge Across On-Chain Data The crypto market analysis we have done shows that Bitcoin is following historical cycle timing with amazing accuracy. If we assume the cycle top to be July 2025, then Bitcoin made its corrective low in July 2026. That 352-day fall from top to bottom compares with declines of 364 days and 376 days in previous bear markets. Many metrics and on-chain data points point to the fact that the structural bottom is already in: 200-Week SMA Defence: Bitcoin has defended its 200-week simple moving average like the 2015, 2018, and 2022 bottom formations. Weekly RSI Oversold Duration: Bitcoin has been oversold for 280 days below the 45 level, matching historical durations of 273 to 308 days. Commodity Rotation Signals: Gold and silver peaked in February 2026, starting a classic capital rotation into Bitcoin after an initial consolidation. US ISM Manufacturing PMI Breakout: The US ISM PMI broke above 50 to 52.6 in February and accelerated to 55.6 in August versus a 54.0 forecast. Liquidity Sweep Accomplished: Bitcoin swept liquidity in July lows, maintaining a pattern of higher weekly closes. These macro indicators are coming together. This means the four-year cycle is intact. Historically, peaks in commodities have preceded multi-month expansion phases in Bitcoin by several months. Simultaneously, the increasing industrial activity is a perfect macro tailwind for deploying institutional capital. Coupled with this technical recovery, the expansion of institutional infrastructure continues. Coinbase has recently launched Bitcoin-backed mortgages, connecting digital currencies directly to traditional credit markets. That growing utility creates durable structural demand that supports Bitcoin through broader macro volatility. Bitcoin is stabilising, and relative strength is rippling across the broader digital asset spectrum. Solana Tokenomics Is Getting Real Cash Flow Solana back above $100, trading around $104-$105. That's not just some round number. SOL/BTC was sitting on key support from history. Market cap is about the last cycle size with price still 60% lower. Another way of saying it is that a float and supply did the damage, not the death of demand. Solana is leading the majors on this bounce. Governance is the foundation. Disinflation has passed the test. Doubling the annual disinflation rate from 15% to 30% accelerates the 1.5% ter
This bullish setup doesn't come around often. 3 ways to invest in the Everything Bull Market This bullish setup doesn't come around often. Archie Keshan GM. This is Milk Road Stocks, the newsletter that caved to popular demand and gave you one more day of original PRO prices. Milk Road PRO prices increase from $25/m to $39/m at midnight tonight (ET)! This is your last chance to lock in lower PRO prices for life. And before today's edition, a quick detour to private markets. On Sept 23, Milk Road's Martin sits down with Alumni Ventures to talk about blockchain and private markets. Save your free seat here. 3 WAYS TO INVEST IN THE EVERYTHING BULL MARKET 🤑 On August 5th, we broke down why we believe we’re in the middle of an “Everything Bull Market.” In simple terms, it’s a macro environment where: The economy is growing. Corporate earnings are rising. Inflation is staying under control. That’s about as good as the setup gets for stocks. So today, let’s look at 3 ways to position yourself for the “Everything Bull Market.” 1. Stay in the market The biggest mistake you can make right now is sitting on the sidelines waiting for the “perfect” entry. Whether you own individual stocks, sector ETFs or broad market indices, the key is to stay allocated. In fact, the two best-performing analysts inside Milk Road PRO currently hold less than 5% of their portfolios in cash. 2. Diversify your portfolio Within the AI buildout, there are three layers of AI you should probably have exposure to: Infrastructure: Memory, neoclouds, power and semiconductors. Models: Companies building the AI models themselves like OpenAI, Anthropic and xAI. Applications: Companies using AI to build products and services. Jensen Huang released an article on March 10th titled “AI is a 5 layer cake” breaking down the various sectors in AI. The point isn't to own everything. It's to avoid having your entire portfolio depend on one company, one sector or one part of the AI trade. Source: LinkedIn 3. Don't panic during pullbacks Even in a bull market, stocks don't go up in a straight line. There will still be corrections. During these times, there will be lots of fear in the market but you can’t let it get to you. In fact, during these pullbacks, it’s a great opportunity to buy the dips in your high-conviction stocks. If you’ve been inside Milk Road PRO , you must have seen all our analysts taking advantage of these dips and growing their portfolio. Bonus point: Don’t do this alone Navigating a bull market is easy when everything is going up. Knowing what to buy, when to take profits and when to buy the dip is the harder part. And that's exactly why we built Milk Road PRO . We have five analysts whose literal job is to study the markets every day and manage their own portfolios based on their individual theses. And so far, those portfolios are already up 30%-40% YTD. Inside PRO, you can see exactly: What our analysts are buying. What they're selling. And, most importantly, why. So if you've been looking for more than just stock tips and want to follow along with how experienced investors are actually managing their portfolios, this is for you. And this is the final day to join at the current price. We originally planned to end this offer yesterday but extended it for one extra day after a lot of readers asked for an extra opportunity. In just a few hours, Milk Road PRO pricing will increase. If you want to lock in the current price, now is your last chance. Join Milk Road PRO at the current price FREE SEMINAR ON BLOCKCHAIN & PRIVATE MARKETS Is VC capital still flowing into crypto or has AI taken it all? Where is venture capital actually deploying across crypto and fintech right now? Join Sophia Zhao (Partner at Alumni Ventures ) and Martin from Milk Road for a live fireside conversation covering: Where capital is moving across blockchain and fintech What the next generation of blockchain companies are actually building How accredited investors can get exposure to private markets The best part? It’s completely free to attend and takes just one hour. Save your free seat here. This content is for educational purposes only. Read full disclaimer Interested in reaching smart readers like you? Sponsor Milk Road Update your email preferences or unsubscribe here © 2026 ImpactDM Inc. operating as Milk Road Stocks 1257 Dundas St W Toronto, Ontario M6J1X6, Canada