Category: News

Bitcoin plunged right back under 63000 on Monday after that brief sunday spark fizzled out fast, touching 62200 twice in days already. 🖤 Larger names followed the drop with eth slipping beneath 1850 while xrp eyed its usual battle zone.

BTC Glides Into The 62K Shadows 🕸️

Last week kicked off stronger as btc held 64000 then touched 65600 twice before the second pushback hit hard sending it under 62800 right before the fomc decision. Volatility spiked around the event where the fed kept rates unchanged anyway despite whispers of hikes and btc rallied friday morning to 65400 only for bears to drag it down again losing nearly 3000 in hours down to 62400. It climbed back to 63000 saturday then slipped to 62200 later while president trump halting iran moves and teasing a hormuz deal sparked a sunday morning bounce stopped at 63700. Monday continued south to 62200 once more leaving btc over 4 percent lower on the week with market cap at 1.250 trillion and dominance under 56.5 percent.

Ethereum got rejected near 1980 and now sits below 1850 after another dip while xrp defends above 1.05 the so called battlefield zone where holding opens rebound chances according to watchers. Sol doge rain ada and xmr painted red too yet hype and bnb managed tiny green moves. Pi network shone over the weekend with 5 to 6 percent lifts despite the stall but today slipped over 5 percent under 0.084. Memecore and algorand stayed green daily whereas beat crashed 24 percent and ondo fell 6 percent. Total crypto market cap lost around 40 billion in a single day now at 2.220 trillion.

Altcoin Reds Return With Sinister Vibes 🦇

🔮🌑🩸🕯️

Just another echo from the void by iconofsin.eth 💖

Bitcoin, the altcoins, and broader financial markets brace for yet another eventful stretch ahead with geopolitical twists, fresh US labor figures, key earnings drops, and new economic signals all set to sway investor vibes 🖤.
The cryptocurrency scene sits in quite a fragile spot once more 🌑. Weekend ripples from the Middle East conflict zone failed to lift BTC and alts any higher while Trump’s soothing remarks on a potential Strait of Hormuz bargain get dismissed with heavy doubt 💀.

Key Events In Focus 🕸️

The opening market jolt came as anticipated after US President Donald Trump scrapped planned strikes on Iran over the weekend. He even hinted multiple times at an imminent Hormuz arrangement yet Iranian sources shot it down.
US stock futures indeed climbed after those promises while oil prices dipped sharply in real time. Crypto felt only a short BTC pop toward 63500 yesterday before it reversed and slipped under 63000 by Monday morning.
Manufacturing and labor stats take center stage next. The July ISM Manufacturing PMI drops later today as one of the earliest big health checks on the US economy. Tuesday brings the June JOLTS Job Openings report followed by Wednesday’s ADP Nonfarm Employment Change for a clearer peek at jobs ahead of Friday’s official tally.
Friday’s July Nonfarm Payrolls remains one of the Fed’s favorite watched releases. A tighter labor scene might dial back easing bets and the opposite could unfold instead.

Key Events This Week:

1. Markets React to Trump Cancelling US Strikes on Iran – Today, 6 PM ET

2. July ISM Manufacturing PMI data – Monday

3. June JOLTS Job Openings data – Tuesday

4. AMD, $AMD, and SpaceX, $SPCX, Report Earnings – Tuesday

5. July ADP Nonfarm Employment…

— The Kobeissi Letter (@KobeissiLetter) August 2, 2026

Earnings Season Is Here 🔮

Close to 20 percent of S&P 500 firms line up to drop quarterly numbers this week and shed light on profits plus sentiment. Top names include SpaceX and AMD on Tuesday then SanDisk on Wednesday.
These names lack direct crypto ties (aside from SpaceX holding BTC) yet solid tech earnings often fuel risk appetite across scenes 🦇. This stretch labeled huge by Kobeissi Letter analysts blends geopolitics, labor stats, factory activity, and earnings right after the Fed held rates steady in a closely watched call.
A cooling economy alongside contained Middle East tensions might lift BTC and everything else. Still stronger data or fresh escalation could drag the market leader back toward 60000 again ⚰️ 🩸.

Just another echo from the void by iconofsin.eth 💖

PayPal dropped their Q2 numbers showing $486.4 billion in total payment volume on July 28 with a neat 10% lift year over year. They also unveiled a fresh split that carves out its own crypto wing inside the firm 🖤.

Payments Get Their Own Crypto Wing 🌹

This fresh Payment Services & Crypto slice lines up right beside Checkout Solutions & PayPal and Consumer Financial Services & Venmo. Under their disciplined innovation push PayPal flagged stablecoins as a key growth zone next to agentic commerce plus identity and biometrics.

Strategic Crypto Losses Hit $81 Million 🕷️

Revenue landed at $8.68 billion for a 5% bump while non-GAAP earnings reached $1.38 per share beating the $1.28 analyst mark. Transaction margin dollars climbed 1% to $3.9 billion and adjusted free cash flow hit $1.83 billion. PayPal also lifted full-year transaction margin guidance to about $15.6 billion and raised the lower end of its EPS range to roughly $5.38. Net losses on strategic investments and crypto assets held for investment totaled $81 million this quarter and got added back for non-GAAP figures after running at $74 million last quarter. That portfolio added about $0.14 per share positive impact to full-year 2025 GAAP earnings. PYUSD supply hovered near $2.8 billion by mid-July slipping from over $4 billion back in March. The token launched natively on Polygon July 9 via issuer Paxos and now reaches 70 markets. YouTube kicked off PYUSD payments to US creators in December while other research shows PYUSD and Societe Generale’s EURCV claiming minimal slice as USDT and USDC control 93.5% of fiat-backed stablecoin supply.

CEO Plans Big Savings Till 2029 🔮

CEO Enrique Lores who stepped in March 1 after Alex Chriss left aims for at least $1.5 billion in gross run-rate savings across the next two to three years grabbing roughly $400 million by year end. The roadmap stretches to 2029 driven by a streamlined structure operational tweaks and faster AI rollout expected to deliver around 40% of those savings.

Just another echo from the void by iconofsin.eth 💖

Robinhood just dropped record second-quarter net revenue at $1.31 billion with a 32% year-over-year surge. 🖤 Activity in prediction markets, options plus equities managed to balance out the crypto income dip. 🌙 Transaction-based revenue climbed 44% to $776 million. 🔮 Event contracts became one of the quickest expanding areas.

Event Contracts Stealing The Show 🌑

Chairman and CEO Vlad Tenev mentioned how prediction markets have expanded steadily since March with more momentum ahead. Robinhood launched Rothera. A CFTC-licensed exchange and clearinghouse materialized in June via joint venture with Susquehanna International Group. More than 3.5 billion event contracts traded so far. Revenue from those contracts hit $156 million. Over ten times the prior year. Contract trades exploded past 10x to a fresh record of 13.6 billion. 📈 Options stayed strong contributors. They brought in $342 million. Up 29% year-over-year. Equities revenue soared 95% to $129 million. Equity notional volumes hit a record $956 billion. An 85% rise from last year.

Worldwide Expansion Vibes 🕸️

Crypto revenue slipped 38% year-over-year to $100 million while notional volumes reached $40 billion. $18 billion from the app. $22 billion from Bitstamp. 💎 The brokerage pushes further into blockchain and digital assets across borders. It revealed the public mainnet for Robinhood Chain. An Ethereum Layer 2 network built for financial services and real-world assets. Stock tokens rolled out for eligible users in more than 120 countries. Agentic Trading launched in May. This lets customers deploy AI-powered agents for equities. Options and crypto trades. Nearly 100,000 customers opened those accounts. Over $100 million sits in assets under custody. ✨ The firm widened its reach by completing the WonderFi acquisition. A Canadian digital asset platform. This marks official entry into the Canadian market. 🦇 Tenev highlighted the broader strategy.

“Whether it’s the Robinhood Chain, Robinhood Ventures, or Trump Accounts, our product velocity is focused on one goal: making everyone an owner. Broad ownership is essential to a free, stable, and prosperous society.”

Just another echo from the void by iconofsin.eth 💖