U.S. July CPI rose 0.10% month over month and 3.40% year over year, both in line with market expectations. The U.S. 10Y Treasury yield stood at 4.684%, BTC traded at $63,541, and ETH traded at $1,879.36; gold traded at $4,491.4 and silver at $66.17. The morning update added CPI, AI infrastructure earnings, a Bitcoin yield ETF acquisition, public-chain incident updates, and HYPE treasury company earnings.
1. U.S. July CPI rises 3.40% year over year
The U.S. Labor Department released July CPI data, with CPI up 0.10% month over month and 3.40% year over year. Both readings matched market expectations. The U.S. 10Y Treasury yield stood at 4.684%, the S&P 500 closed at 7,748.5, and BTC traded at $63,541. Total crypto market capitalization stood at $2.26T.
Assets to watch: BTC SPX500
2. U.S. July budget deficit reaches a post-2021 high
U.S. Treasury data showed the July federal budget deficit reached its highest level since March 2021. The data maps to Treasury issuance, fiscal spending, and long-end yield variables. After the overnight U.S. equity close, the S&P 500 and Nasdaq remained the core risk-asset references in the morning snapshot.
Assets to watch: SPX500 NAS100
3. Gold trades at $4,491.4, silver at $66.17
Spot gold traded at $4,491.4, up 0.53% on the day. Silver traded at $66.17, up 0.71%. WTI crude traded at $82.14, and Brent crude traded at $87.91. The commodity snapshot continued to cover precious metals and energy prices.
Assets to watch: XAU XAG CL BZ
4. CoreWeave, Nebius, and Cerebras diverge after earnings
CoreWeave reported Q2 revenue of $2.58B, and shares rose 19% after earnings. Nebius shares rose 34%, while Cerebras fell 14% after its second earnings report since listing missed expectations. The morning AI infrastructure update centered on revenue, orders, and post-earnings share moves.
Assets to watch: CRWV NBIS CBRS
5. Goldman Sachs acquires NEOS for $2.25B
Goldman Sachs announced a $2.25B acquisition of ETF manager NEOS. NEOS manages income products based on BTC options strategies. After completion, the product line will become part of Goldman Sachs Asset Management. The deal adds a Bitcoin yield ETF asset-management transaction to the morning pool.
Assets to watch: BTC
6. Fidelity files for staking and quarterly payouts in spot ETH ETF
Fidelity filed with the SEC to add staking to its nearly $900M spot ETH ETF. The filing also includes quarterly payout arrangements tied to staking income distribution. The application extends the product feature filings from U.S. crypto ETF issuers.
Assets to watch: ETH
7. Harmony discloses abnormal ONE minting incident
Harmony disclosed an on-chain abnormal minting incident involving about 4B ONE minted without authorization. ONE fell nearly 40% at one point, and the development team is reviewing a network rollback plan. The morning update adds the price decline and team response path to the prior evening incident.
Assets to watch: ONE
8. Solana reports routing failure
Solana experienced a routing failure on Wednesday. Marinade Finance said the network came close to losing finality at one point. Transaction confirmations were disrupted across the network during the issue. The event entered the morning public-chain infrastructure candidate pool.
Assets to watch: SOL
9. XRP bridge bug and futures open interest update
An XRP bridge disclosed a code bug that treated false deposits as real deposits, with funds later moved out. XRP futures open interest also rose to the highest level since last October. The item combines an on-chain bridge incident with a derivatives positioning update.
Assets to watch: XRP
10. Hyperion DeFi Q2 net profit reaches $31M
Hyperliquid treasury company Hyperion DeFi reported Q2 net profit of $31M, up more than twofold from $8.8M in the prior quarter. The value of the company's HYPE holdings rose from $71M at the end of Q1 to $133M. The company held about 2M HYPE at quarter-end, and shares rose about 5% after hours.
Assets to watch: HYPE
Market Snapshot
BTC: $63,541 | ETH: $1,879.36
Gold: $4,491.4 | Silver: $66.17
WTI: $82.14 | Brent: $87.91
S&P 500: 7,748.5 | Nasdaq: 29,742.6