Big investors are buying this “unlisted” stock
When the founder who sold his last company to Zillow for $120M starts a new venture, people notice. That’s why the same VCs who backed Uber, Venmo, and eBay also invested in Pacaso.
Disrupting the real estate industry once again, Pacaso’s streamlined platform offers co-ownership of premier properties, revamping the $1.3T vacation home market.
And it works. By handing keys to 2,000+ happy homeowners, Pacaso has already made $110M+ in gross profits in their operating history.
Now, after 41% YoY gross profit growth last year alone, they recently reserved the Nasdaq ticker PCSO.
Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.
US Forges Controversial Chip Deal
The White House has finalized an agreement with Nvidia to secure a 15% revenue cut from specific AI chip sales to companies in China. This unprecedented deal, which also involves AMD, aims to manage technology exports but has quickly sparked concerns among experts regarding the potential for destabilized international trade relations. The administration frames this as a creative policy solution, asserting it does not pose national security risks due to the chips being less advanced.
However, the agreement faces significant legal scrutiny, with critics likening it to a "governmental shakedown" and questioning its constitutionality. Legal experts, citing the U.S. Constitution's 'export clause,' argue that the arrangement could be interpreted as an unconstitutional export tax, lacking historical precedent. Despite these challenges, Treasury Secretary Scott Bessent has indicated that this revenue-sharing model could be expanded to other industries, suggesting a potential shift in future U.S. economic policy.
Housing Market Snapshot
Mortgage rates have remained largely stable, hovering near their lowest levels since October 2024, as the market anticipates the crucial Consumer Price Index (CPI) report. This inflation data is poised to significantly influence future rate movements, with analysts forecasting a modest 0.2% increase for July's CPI. Market participants are closely monitoring for any signs of tariff-driven inflation that could potentially push rates higher, as detailed by Mortgage News Daily.
Concurrently, the housing market shows a notable increase in inventory, while sales volumes remain flat year-over-year, leading to continued pressure on home prices. Existing Home Sales for July are projected to see a minor dip to 3.92 million seasonally adjusted annual rate (SAAR), according to the National Association of Realtors. This trend, supported by the ICE Mortgage Monitor indicating cooling home prices in August and the Case-Shiller National Index showing a decelerating year-over-year increase, underscores a shifting market dynamic.
FatFace will close all 23 North American stores by 2025 due to economic challenges, shifting to an online-only model in the region while maintaining its UK presence.
UK metals companies are threatening legal action against the government over new tariffs on raw steel imports from Asia, citing insufficient notice and significant industry problems.
Digital bank Monzo plans to launch a UK mobile phone service by developing a digital SIM card, aiming to boost competition and diversify its revenue streams.
The U.S. national debt has surpassed $37 trillion following a $5 trillion debt limit increase, prompting expert warnings about the nation's unsustainable fiscal trajectory.
In Atlanta, users are increasingly opting for Waymo's autonomous taxis over human-driven Uber rides, as Waymo plans to expand its fleet of self-driving vehicles.
Dayforce shares surged approximately 21% in premarket trading, signaling strong investor interest and positive market sentiment.
Cryptocurrency Market Faces Broad Downturn
The cryptocurrency market has recently experienced a significant downturn, with major assets like Bitcoin (BTC) and Ethereum (ETH) leading the decline. Bitcoin's price fell below $116,000, while Ethereum saw nearly a 5% drop. This bearish trend extended to other prominent cryptocurrencies, including Ripple (XRP), Dogecoin (DOGE), and Solana (SOL), all recording substantial losses.
In the derivatives market, mixed signals are emerging. Bitcoin and Ether futures have seen a notable increase in open interest, reaching levels not seen since early August. However, this rise is accompanied by fading positive funding rates, which suggests a growing sentiment for short positions or reduced bullish leverage. Meanwhile, Solana's futures premium has decreased, indicating a cooling of speculative interest.
Amidst the widespread market weakness, Chainlink (LINK) stands out as an exception, showing a slight gain and reaching a record high in open interest for its futures contracts. This indicates strong investor conviction despite the broader bearish environment. Analysts anticipate continued volatility and a prevailing demand for downside protection across the crypto market.
CoinDesk 20 Index Experiences Daily Dip Amidst Varied Asset Performance
The CoinDesk 20 Index, a widely tracked benchmark for digital assets, recently registered a notable decline. It now trades at 4068.44, reflecting a 1.6% decrease from its closing value on Friday afternoon.
Despite the overall market downturn, several constituents within the index defied the trend. Seven of the twenty tracked assets posted gains, with LINK and POL emerging as the strongest performers. LINK surged by an impressive 16.3%, while POL recorded a substantial 8.2% increase, showcasing resilience in specific digital assets.
Conversely, other assets faced significant headwinds, contributing to the index's overall dip. Stellar (XLM) experienced the most substantial setback, plummeting by 4.3%. Bitcoin Cash (BCH) also saw a considerable reduction, declining by 4.2%, highlighting varied performance across the digital asset spectrum.
This mixed performance underscores the dynamic nature of the cryptocurrency market, where individual asset movements can diverge significantly from broader index trends. Investors closely monitor updates from CoinDesk Indices to gauge shifts in the digital asset landscape.
A solo Bitcoin miner defied odds by solving block 910440 via CKpool, netting 3.137 BTC (over $362,000) in a rare win.
Ethereum (ETH) faces significant selling pressure, with over 855,158 ETH ($3.7 billion) in the unstaking queue, impacting its price.
Thailand plans a 'TouristDigiPay' regulatory sandbox to allow tourists to convert crypto to Thai baht for electronic payments, boosting tourism.
Bitcoin Swift (BTC3) is in Stage 5 of its presale, raising over $780,000 with immediate Proof-of-Yield rewards and a robust ecosystem.
MicroStrategy acquired an additional 430 bitcoin for $51.4 million, bringing its total holdings to 629,376 BTC, valued at $72 billion.
Bybit EU launched Spot Margin Trading, offering European users up to 10x leverage with robust risk management and regulatory compliance.
