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Tuesday, June 24, 2025
Hawaii Sports Betting Sites & Apps
Hawaii Sports Betting: Legality and Top Online Platforms
Hawaii, known for its stunning beaches, vibrant culture, and laid-back lifestyle, is also one of the most restrictive states in the U.S. when it comes to retail gambling.
Unlike many states that have embraced legalized sports betting following the 2018 repeal of the Professional and Amateur Sports Protection Act (PASPA), Hawaii has maintained a staunch anti-gambling stance.
However, recent legislative developments and the availability of offshore sportsbooks have created opportunities for residents to engage in sports betting legally.
The current state of sports betting in Hawaii, its legal framework, the legislative push toward local casinos, and recommends the top online sports betting sites for Hawaiian residents today:
Bovada BetOnline Bookmaker EU
The Legal Status of Sports Betting in Hawaii As of June, 2025, retail sports betting is not yet legal in Hawaii through state-regulated platforms. Hawaii, alongside Utah, remains one of only two U.S. states with no legalized form of gambling, including casinos, lotteries, or sports betting. The state’s gambling laws, rooted in the Hawaii Revised Statutes (HRS) Chapter 712, strictly prohibit bookmaking and other forms of gambling activities within state borders. Even informal betting among friends, if it involves tracking wins and losses, could technically violate state law.
Despite this prohibition, there is a critical loophole: offshore sportsbooks. These international platforms, operating legally in jurisdictions like Costa Rica, Panama, or Curacao, are accessible to Hawaiian residents. Since there are no state or federal laws explicitly criminalizing the act of placing bets with offshore operators, residents can legally wager on sports through these sites. This has made offshore sportsbooks the primary avenue for sports betting in Hawaii, with platforms like Bovada, BetOnline, and Bookmaker EU leading the market.
Recent Legislative Developments
In recent years, Hawaii has shown signs of softening its anti-gambling stance, particularly with regard to online sports betting. In 2025, significant legislative progress was made with House Bill 1308 (HB 1308), which aims to legalize online sports betting and daily fantasy sports (DFS). The bill passed the Hawaii Senate in April 2025 and is now awaiting final approval from the House and the signature of Governor Josh Green. If signed into law, HB 1308 would allow up to four online sports betting operators in the state, with a proposed tax rate of 10% and a $250,000 licensing fee.
The push for retail sports betting has been driven by economic arguments, with proponents like Senator Angus McKelvey highlighting the need for additional state revenue to address economic challenges, including inflation and federal funding cuts. Native Hawaiian organizations, such as the Council for Native Hawaiian Advancement (CNHA), also support the bill, seeing gambling as a potential path to economic prosperity for Native Hawaiian communities. However, opposition remains strong, with critics like Honolulu Prosecutor Steve Alm and social service groups warning of increased crime and problem gambling.
If HB 1308 becomes law, regulated sportsbooks like BetMGM or FanDuel could enter the market by January 1, 2026, offering a legal alternative to offshore platforms. Until then, offshore sportsbooks remain the only legal option for Hawaiian bettors.
Why Offshore Sportsbooks Are Popular in Hawaii.
Given the absence of state-regulated sports betting, offshore sportsbooks have filled the gap for Hawaiian sports fans. These platforms offer several advantages:
Accessibility: Offshore sportsbooks are available to residents aged 18 and up, lower than the typical 21-year-old requirement for regulated U.S. sportsbooks. They can be accessed via smartphones, tablets, or computers from anywhere in Hawaii.
Variety of Markets: Offshore sites cover a wide range of sports, from mainstream leagues like the NFL, NBA, and MLB to niche markets like surfing, rugby, and esports. This is particularly appealing in Hawaii, where surfing is a state sport.
Bonuses and Promotions: Offshore sportsbooks offer generous welcome bonuses, often enhanced for cryptocurrency deposits, and ongoing promotions like reload bonuses and free bets.
Cryptocurrency Support: Many offshore platforms prioritize cryptocurrency transactions, offering faster payouts, lower fees, and exclusive bonuses for Bitcoin, Ethereum, and other altcoins.
Reputation and Longevity: Leading offshore sportsbooks like Bovada and BetOnline have operated for over two decades, building trust among bettors through reliable payouts and customer service.
However, bettors should exercise caution when choosing offshore platforms, as not all are reputable. As an example, one of the largest offshore sports betting sites Sportsbook.ag is considered a scam site. It is black listed by online sportsbook rating site XSportsbook.com. Sticking to well-established sites with strong track records, like the ones recommended below, ensures a safe and secure betting experience.
Top 3 Recommended Online Sports Betting Sites for Hawaii
Based on reputation, user experience, betting options, bonuses, and reliability, the following are the top three offshore sportsbooks for Hawaiian residents in 2025:
- Bovada The Gold Standard for Hawaiian Bettors Overview: Bovada is widely regarded as the best online sportsbook for Hawaiian residents, thanks to its user-friendly platform, extensive betting markets, and stellar reputation. Operating legally out of Costa Rica since 2011, Bovada has served Hawaiian bettors for over a decade, consistently ranking at the top of industry reviews.
Key Features: Betting Markets: Bovada offers a vast selection of sports, including NFL, NBA, MLB, NCAA football and basketball, UFC, and niche markets like surfing and esports. Hawaiian bettors can wager on University of Hawaii Rainbow Warriors games, with custom prop bets available via the #WhatsYaWager feature on X.
Bonuses: New users can claim a 75% deposit match up to $750 with cryptocurrency (no bonus code needed) or a 50% match up to $1,000 with code BV1000 for other methods. The crypto bonus has a low 5x rollover requirement, making it easier to cash out winnings.
Mobile Experience: Bovada’s mobile platform is seamless, offering all desktop features, including live betting and streaming for select events.
Banking Options: Supports cryptocurrency (Bitcoin, Ethereum, Litecoin), credit/debit cards, MatchPay, and vouchers. Crypto withdrawals are processed within hours.
Customer Support: 24/7 live chat, email, and phone support with a reputation for quick resolutions.
Why Choose Bovada?: Bovada’s simplicity and reliability make it ideal for both novice and experienced bettors. Its long-standing reputation, fast payouts, and tailored markets for Hawaiian sports fans (e.g., Rainbow Warriors and surfing) set it apart. For those seeking a no-frills, trustworthy platform, Bovada is unmatched.
Recommendation: Use cryptocurrency for deposits to unlock the $750 bonus and enjoy faster payouts. Visit Bovada to sign up and start betting today.
- BetOnline
Best for Competitive Odds and Variety Overview: BetOnline, regulated in Panama, has been a trusted name in online sports betting for over 20 years. Known for its early line releases, competitive odds, and extensive betting markets, BetOnline is a top choice for Hawaiian bettors who value variety and flexibility.
Key Features: Betting Markets: Covers over 25 sports, including NFL, NBA, NHL, MLB, UFC, boxing, golf, and surfing—a popular option in Hawaii. BetOnline’s live betting platform is one of the best, with real-time odds updates for in-play wagering.
Bonuses: New users can claim a 50% deposit match up to $250 with code FREE250 (1x rollover) this is in free sports bets and also has 100 free spins. Or a 100% crypto match up to $1,000 with CRYPTO100 (14x rollover). Regular current customer promotions include free bets and reload bonuses.
Mobile Experience: BetOnline’s mobile site is optimized for speed and ease of use, making it a favorite among mobile bettors.
Banking Options: Accepts cryptocurrencies (Bitcoin, Ethereum, Ripple), credit/debit cards, bank wires, and e-wallets. Crypto payouts are processed quickly, often within 24 hours.
Customer Support: 24/7 support via live chat, email, and phone, with a VIP program offering exclusive perks like prioritized withdrawals.
Why Choose BetOnline?: BetOnline stands out for its comprehensive sports coverage and early odds, allowing bettors to lock in favorable lines. Its dedicated surfing betting page and live betting options make it a great fit for Hawaiian sports fans. The platform’s modern interface and generous bonuses add to its appeal.
Recommendation: Use code CRYPTO100 for the $1,000 welcome bonus or opt for crypto to maximize your deposit match. Sign up at BetOnline to explore its surfing odds and live betting markets.
- Bookmaker EU
A Reliable Choice for High Limits Overview: Bookmaker EU, one of the oldest offshore sportsbooks, has been serving bettors since 1986. Licensed in Curacao, it is known for its high betting limits, competitive odds, and professional-grade platform, making it a favorite among serious bettors in Hawaii.
Key Features: Betting Markets: Offers a broad range of sports, including NFL, NBA, MLB, soccer, tennis, and niche markets like esports and political betting. Bookmaker EU is particularly strong in prop bets and futures.
Bonuses: New users can claim a 100% Risk FREE Sports Bet up to $400 use promo code GET100 (1x rollover) or a 25% cash bonus up to $500 for other methods (rollover varies by promotion). Reload bonuses and loyalty rewards are available for regular players.
Mobile Experience: The mobile platform is clean and functional, supporting all betting options, including live wagering.
Banking Options: Supports Bitcoin, Ethereum, Litecoin, credit/debit cards, and bank transfers. Crypto payouts are fast and fee-free.
Customer Support: 24/7 support via live chat, email, and phone, with a reputation for professionalism.
Why Choose Bookmaker EU?: Bookmaker EU is ideal for bettors who prioritize high limits and a no-nonsense betting experience. Its long history and focus on security make it a trusted option, while its competitive odds and prop bet variety appeal to strategic bettors.
Recommendation: Use cryptocurrency for the $500 welcome bonus and faster withdrawals. Visit Bookmaker EU to explore its high-limit betting options. Tips for Safe Sports Betting in Hawaii While offshore sportsbooks offer a legal way to bet in Hawaii, bettors should follow these tips to ensure a safe and enjoyable experience: Choose Reputable Platforms: Stick to well-established sportsbooks like Bovada, BetOnline, and Bookmaker EU, which have decades of experience and strong security measures.
Use Cryptocurrency: Crypto transactions are faster, more secure, and often come with bigger bonuses. Bitcoin and Ethereum are widely accepted.
Read Bonus Terms: Understand rollover requirements and other conditions before claiming bonuses to avoid surprises.
Shop for Odds: Sign up with multiple sportsbooks to compare odds and maximize value on your bets.
Gamble Responsibly: Set a budget, avoid chasing losses, and seek help if gambling becomes problematic. Resources like the National Problem Gambling Helpline
(1-800-522-4700) are available.
The Future of Sports Betting in Hawaii Hawaii’s sports betting landscape is on the cusp of change. If HB 1308 is signed into law, the state could see regulated online sportsbooks by 2026, potentially attracting major operators like BetMGM and FanDuel. This would provide a safer, more transparent betting environment and generate significant tax revenue for the state. However, opposition from law enforcement and social service groups could still derail the effort.
In the meantime, offshore sportsbooks remain the best option for Hawaiian bettors. Platforms like Bovada, BetOnline, and Bookmaker EU offer a legal, secure, and feature-rich betting experience, catering to the diverse interests of Hawaii’s sports fans. Whether you’re wagering on the Rainbow Warriors, the NFL, or a local surfing event, these sites deliver the tools and markets you need.
Sports betting in Hawaii exists in a unique space: While state-regulated betting is not yet available, offshore sportsbooks provide a lawful and accessible alternative. With legislative efforts like HB 1308 gaining traction, the Aloha State may soon join the majority of U.S. states in offering regulated online sports betting.
Until then, Bovada, BetOnline, and Bookmaker EU stand out as the top choices for Hawaiian bettors, offering robust platforms, generous bonuses, and a wide range of betting options. By choosing reputable sites and betting responsibly, Hawaiian sports fans can enjoy the thrill of wagering while staying within the bounds of the law.
For the best experience, sign up with Bovada for its simplicity and reputation, BetOnline for its competitive odds and surfing markets, or Bookmaker EU for high limits and professionalism. As Hawaii’s sports betting landscape evolves, these platforms will keep you in the game.
The Daily Market Flux - Your Complete Market Rundown (06/24/2025)
MarketFlux.io is a real-time financial news and analytics aggregator that gathers textual news from over 350 sources, providing instant insights and advanced filtering capabilities. With AI-powered sentiment analysis, historical search, and customizable filters, MarketFlux.io enables traders and investors to efficiently track market-moving events as they unfold. Visit Marketflux.io
Top Stories
Trump Demands Israel Cease Attacks on Iran, Strives to Salvage Fragile Ceasefire
Former President Trump intervenes in Israel-Iran conflict, urging Netanyahu to halt attacks on Iran despite ceasefire violations. Trump asserts Israel won't attack, planes will return home, and emphasizes the importance of maintaining the fragile truce.
Oil Prices Plunge, Stocks Surge on Iran-Israel Ceasefire Announcement
Oil prices plummeted and global shares rallied as US President Trump announced a ceasefire agreement between Iran and Israel. The deal eased fears of supply disruptions and potential closure of the Strait of Hormuz, causing a significant market shift.
Bitcoin Rebounds to $105K as Middle East Tensions Ease; SEI Surges in DeFi Boom
Bitcoin reclaims $105,000 amid easing tensions between Israel and Iran, with a potential ceasefire announced by Trump. Crypto markets react to geopolitical events, while SEI surges 41% in the DeFi boom. Institutional interest grows in blockchain stocks.
Trump-Brokered Israel-Iran Ceasefire Falters Amid Mutual Accusations of Violations
Trump announced a ceasefire between Israel and Iran, ending a 12-day conflict. However, both sides accuse each other of violating the truce. Global markets reacted positively, with shares rising and oil prices falling. Regional tensions remain high as countries navigate the fragile peace.
Powell Reaffirms Fed's Wait-and-See Stance on Rate Cuts Amid Tariff Concerns
Fed Chair Powell signals patience on rate cuts, citing economic stability and tariff uncertainties. He warns of inflation risks and economic slowdown due to tariffs, while emphasizing the Fed's cautious approach to policy adjustments.
Company News
Amazon.com, Inc. (AMZN)
Performance Overview
1D Change: 2.1%
5D Change: -1.54%
News Volume: 115
Unusual Volume Factor: 1x
Amazon Invests Heavily in UK, Expands Prime Delivery, and Sees Favorable Analyst Ratings
Amazon is making significant strides in expanding its reach and capabilities, both domestically and internationally. The company is set to invest approximately $54 billion in the U.K. over the next three years, aiming to bolster innovation and support the country's artificial intelligence ambitions. This investment will fund the construction of four new fulfillment centers and the upgrade of over 100 existing sites.
Full coverage of $AMZN on MarketFlux.io
Mastercard Incorporated (MA)
Performance Overview
1D Change: 2.84%
5D Change: -1.97%
News Volume: 73
Unusual Volume Factor: 5x
Mastercard Expands Crypto Reach Through Chainlink and Fiserv Partnerships
Mastercard is making significant strides in the cryptocurrency space through strategic partnerships. Today, Mastercard has expanded its reach in the crypto world by partnering with Chainlink, enabling over 3 billion cardholders to purchase crypto directly on-chain. This collaboration facilitates fiat-to-crypto conversions, broadening access to digital assets for a massive user base. The partnership has also caused Chainlink to surge 14%.
Full coverage of $MA on MarketFlux.io
Uber Technologies, Inc. (UBER)
Performance Overview
1D Change: 7.55%
5D Change: 7.63%
Uber and Waymo Launch Groundbreaking Autonomous Ride-Hailing Service in Atlanta
In a groundbreaking development for urban transportation, Uber and Waymo have launched their fully autonomous ride-hailing service in Atlanta. This partnership marks a significant milestone in the evolution of robotaxi services, bringing together Waymo's cutting-edge technology and Uber's established platform.
Full coverage of $UBER on MarketFlux.io
Advanced Micro Devices, Inc. (AMD)
Performance Overview
1D Change: 6.85%
5D Change: 9.52%
AMD Surges on AI Innovations and Strategic Partnerships, Analysts Bullish on Growth Prospects
Advanced Micro Devices (AMD) is making significant strides in the AI and cloud computing sectors. The company has formed a strategic alliance with HCLTech to develop future-ready solutions across AI, digital, and cloud technologies. This partnership aims to power next-generation enterprise AI and cloud adoption, positioning AMD at the forefront of technological innovation.
Full coverage of $AMD on MarketFlux.io
Other News
Macro Events
U.S. Consumer Confidence Plummets in June, Raising Economic Concerns
U.S. consumer confidence unexpectedly declined in June, falling to 93.0 from 98.4 in May, well below the forecast of 99.8. The drop erases nearly half of May's gain, reflecting growing concerns about the economy, labor market, and personal finances. The present situation index decreased to 129.1, while expectations fell to 69.0. This decline in consumer sentiment comes amid worries about tariffs, geopolitical issues, and broader economic uncertainties. The Richmond Fed Manufacturing Index also showed weakness, coming in at -7 for June. Despite the negative economic news, gold markets remained under pressure, unable to attract safe-haven interest. The unexpected drop in consumer confidence suggests a dimming outlook across various sectors of the economy.
Canada's Inflation Remains Stable at 1.7% in May, Core Measures Hold Firm
Canada's inflation rate held steady at 1.7% year-over-year in May, matching expectations and April's figure. The monthly CPI rose 0.6%, slightly above the 0.5% forecast. Core inflation measures remained stable, with median and trimmed CPI both at 3.0% annually. Manufacturing sales declined 1.3% month-over-month, showing some economic weakness amid steady inflation.
BoE's Greene Warns of Inflation 'Plateau' and Economic Weakness, Urges Cautious Monetary Approach
Bank of England's Monetary Policy Committee member Megan Greene has expressed concerns about the UK's economic outlook. In her recent remarks, Greene highlighted that underlying activity in the UK is weak, the labor market has loosened further, and the disinflationary process continues. She worries about both demand and supply sides of the economy, noting that inflation risks remain skewed to the upside. Greene cautioned that recent inflation trends resemble more of a "plateau" than a "hump," with food prices consistently surprising on the upside. She warned of potential second-round effects if inflation remains elevated around 3.5% through 2025. Greene emphasized the need for a careful and gradual approach to monetary policy, stating that noisy data will require more time to confirm disinflationary trends. She also pointed out that factors such as higher mortgage rates and increased precautionary savings could weigh on consumption, even as official rates potentially decrease.
EU Prepares Tariff Threat to Bolster Trade Talks with Trump
The EU is preparing retaliatory tariffs as a strategic move to strengthen its position in trade negotiations with Trump. A senior official emphasizes the importance of presenting a credible threat to secure a favorable trade deal.
Japan and South Korea Intensify US Trade Talks as Tariff Deadlines Loom
Japan's top trade negotiator, Akazawa, is arranging a seventh visit to the US for crucial tariff talks. With a July deadline looming, Japan is racing to avert a potential 24% US auto tariff. Tokyo is offering defense deals, tech collaborations, and agricultural trade concessions to ease the tariff burden. Meanwhile, South Korea is also seeking tariff relief in its first US talks, focusing on auto and steel exemptions. Both nations are working towards mutually beneficial trade deals amid ongoing negotiations and uncertain timelines.
Oil And Gas Events
Oil Prices Plunge, Stocks Rally as Iran-Israel Ceasefire Eases Supply Concerns
Global markets reacted swiftly to news of a ceasefire agreement between Iran and Israel, announced by US President Trump. Oil prices plummeted as fears of supply disruptions eased, with crude shedding 2-3%. Stock futures surged, with the Dow set to open significantly higher. European oil and defense stocks slipped, while global shares rallied. The ceasefire calmed concerns over potential closure of the Strait of Hormuz. Investors now turn their attention to Federal Reserve Chairman Powell's upcoming testimony before the House Financial Services Committee.
Geopolitics Events
Israel Accuses Iran of Ceasefire Violation, Vows Forceful Response in Tehran
Israel has accused Iran of violating a ceasefire brokered by US President Donald Trump, which was intended to end the 12-day conflict between the two nations. In response to this alleged breach, Israeli Defense Minister has instructed the military to launch high-intensity strikes against targets in Tehran. The Israeli Military Chief of Staff has also stated that they will respond with force to this serious violation. This development puts the recently announced ceasefire in jeopardy, as both countries continue to report deadly attacks. The situation remains tense, with the international community closely monitoring the evolving crisis.
Trump Touts China-Iran Oil Deal, Pushes for US Oil Sales to China
Former President Trump announced on Truth Social that China can continue purchasing oil from Iran, while expressing hope for increased US oil sales to China. He claimed credit for facilitating this arrangement, potentially impacting global oil markets and US-China trade relations.
NATO Summit Highlights Defense Spending Concerns Amid Global Tensions
NATO's recent summit has sparked debates on defense spending and alliance commitment. While the UK pledges to increase spending to 5% of GDP, concerns arise about the U.S.'s dedication to NATO. New chief Mark Rutte reassures allies but urges equal commitment from Europe and Canada. The alliance faces challenges amid ongoing conflicts and tensions, with some critics questioning NATO's role as a peace instrument.
Erdogan and Trump to Meet at NATO Summit, Seeking to Reset US-Turkey Ties
Turkish President Erdogan is set to meet with US President Trump at the NATO summit on Tuesday. The meeting aims to reset US-Turkey relations and discuss defense trade limitations among NATO countries. Erdogan also plans new steps towards peace between Russia and Ukraine. The summit is expected to be historic, with potential discussions on tougher sanctions against Russia.
Trump Advocates for De-escalation with Iran, Opposes Regime Change and Nuclear Enrichment
Former President Trump expressed a desire for reduced tensions with Iran, emphasizing his opposition to regime change and nuclear enrichment. He stated that Iran is not currently focused on acquiring nuclear weapons and warned that regime change often leads to chaos. Trump's comments reflect a cautious approach towards Iran, prioritizing stability in the region while maintaining a firm stance against nuclear proliferation.
US Strikes on Iran Fail to Destroy Nuclear Sites, Early Intel Suggests
Early US intelligence assessment indicates recent strikes on Iran did not destroy nuclear sites, according to CNN. The report, citing unnamed sources, suggests the impact of the attacks may be less significant than initially thought.
Crypto Ethics in Politics: Schiff's COIN Act Challenges Trump's Crypto Ventures as Powell Holds Steady on Rates
Senator Adam Schiff has introduced the COIN Act, aiming to prevent presidents, vice presidents, and their families from profiting off public office. This comes in the wake of controversies surrounding Trump's involvement in cryptocurrencies, including a memecoin dinner at the White House and the TRUMP token. Meanwhile, the Trump administration is considering an executive order to protect crypto firms from bank cutoffs, potentially ending "Operation Chokepoint 2.0." In other news, Federal Reserve Chair Jerome Powell's recent testimony on Capitol Hill has maintained a cautious stance on interest rate cuts, despite pressure from various quarters. Powell emphasized the Fed's "wait and see" approach, citing solid labor market conditions and easing inflation. This testimony comes amid a complex economic landscape, with tensions between GOP messaging and White House demands for rate cuts.
Trump Warns Israel Against Bombing, Demands Immediate Pilot Return
Former President Trump issued a stark warning to Israel on Truth Social, urging them not to drop bombs and to bring their pilots home immediately. He emphasized that such action would constitute a major violation, using all-caps to convey urgency in his message.
Trump Heads to NATO Summit, Stirring Controversy Over Article 5 and Member Spending
Former President Trump is heading to the NATO summit, anticipating a calmer experience compared to recent tensions with Israel and Iran. He plans to meet European allies and potentially Ukraine's Zelenskiy. Trump raises concerns about Spain's NATO spending and suggests multiple interpretations of Article 5, the mutual defense clause. He claims Putin offered help with Iran and emphasizes his commitment to NATO leadership.
Israel Halts Further Strikes After Trump-Netanyahu Call, Signaling Potential De-escalation
Israel has decided to refrain from further military strikes following a conversation between Prime Minister Netanyahu and President Trump. This decision comes amid recent tensions and suggests a potential de-escalation in the region. Trump affirmed he isn't seeking regime change in Iran, as a tentative ceasefire takes hold.
Crypto Events
Crypto Market Rollercoaster: Bitcoin Reclaims $105K Amid Middle East Tensions and Institutional Adoption
The crypto market experienced significant volatility amid geopolitical tensions and institutional developments. Bitcoin reclaimed the $105,000 mark following a ceasefire announcement between Israel and Iran, but later dipped as tensions flared again. The market saw $500 million wiped out as Iran reportedly broke the ceasefire. Despite this, there's growing institutional interest in cryptocurrencies, with Texas launching a state-funded Bitcoin reserve and former President Trump planning an executive order to protect crypto users from bank discrimination. Altcoins like SEI and XRP saw notable gains, while Ethereum experienced a $112 million short squeeze. The UAE is embracing crypto adoption for taxi payments, and investors are increasingly including Bitcoin in their portfolios. However, concerns remain about crypto kidnappings and market manipulation.
Mastercard-Chainlink Alliance Brings Crypto to 3B+ Cardholders
Mastercard and Chainlink have partnered to allow over 3 billion cardholders to purchase cryptocurrency directly on-chain using their Mastercard, enabling fiat-to-crypto conversions for widespread crypto access.
Fed Chair Powell: Banks Free to Serve Crypto Industry, Conduct Activities with Safety Measures
Federal Reserve Chair Jerome Powell stated that banks are free to provide services to the crypto industry and engage in crypto activities, as long as they maintain safety and soundness. Powell emphasized that banks have the autonomy to choose their customers, including crypto companies. He also expressed concern about the direction of government data, stressing the importance of good data for the Fed, Congress, and businesses.
Mastercard and Fiserv Join Forces to Revolutionize Stablecoin Adoption
Mastercard partners with Fiserv to launch a stablecoin platform on Solana's blockchain, enabling regional banks to adopt FIUSD or create their own stablecoins. This collaboration aims to accelerate mainstream stablecoin adoption and democratize access to the technology, potentially impacting traditional payment systems.
Crypto Ethics in Politics: Schiff's COIN Act Challenges Trump's Crypto Ventures as Powell Holds Steady on Rates
Senator Adam Schiff has introduced the COIN Act, aiming to prevent presidents, vice presidents, and their families from profiting off public office. This comes in the wake of controversies surrounding Trump's involvement in cryptocurrencies, including a memecoin dinner at the White House and the TRUMP token. Meanwhile, the Trump administration is considering an executive order to protect crypto firms from bank cutoffs, potentially ending "Operation Chokepoint 2.0." In other news, Federal Reserve Chair Jerome Powell's recent testimony on Capitol Hill has maintained a cautious stance on interest rate cuts, despite pressure from various quarters. Powell emphasized the Fed's "wait and see" approach, citing solid labor market conditions and easing inflation. This testimony comes amid a complex economic landscape, with tensions between GOP messaging and White House demands for rate cuts.
Pompliano's ProCap Makes Massive $386.5M Bitcoin Purchase, Averaging $103,780 per BTC
Anthony Pompliano's ProCap BTC has acquired 3,724 Bitcoin, worth approximately $386.5 million, at an average price of $103,780 per BTC. This purchase comes shortly after raising $750 million for its Bitcoin treasury.
Technology Events
Tech Giants Vie for AI Dominance as Apple, Meta, and Others Make Strategic Moves
The AI trade is experiencing a resurgence, with several major tech companies making significant moves in the field. Apple is reportedly in talks with Perplexity AI, potentially boosting its AI capabilities and challenging Google's search dominance. Tesla's stock, however, is retreating from recent gains driven by robotaxi enthusiasm. Meta's rumored $14.3 billion acquisition of Scale AI is seen as positive for Reddit's stock. HPE has unveiled new AI factory solutions in partnership with NVIDIA to accelerate AI adoption globally. Small businesses are slowly adopting AI, with one firm using it to streamline operations. Other companies like Upstart, Lumen Technologies, and Palantir are also making strides in AI integration. The AI landscape continues to evolve rapidly, with various companies positioning themselves to capitalize on this transformative technology.
Uber and Waymo Roll Out Autonomous Rides in Atlanta, Revolutionizing Urban Transport
Uber and Waymo have launched a fully autonomous ride-hailing service in Atlanta, covering a 65-square-mile area. Passengers can now book self-driving Jaguar I-PACE vehicles through the Uber app at no additional cost, marking a significant advancement in autonomous transportation.
Apple-Perplexity AI Deal: Game-Changer or Overhyped?
Analysts speculate on Apple's potential acquisition of Perplexity AI, suggesting it could boost Apple's AI capabilities, enhance Siri, and challenge Google's search dominance. However, some experts remain skeptical about the deal's impact.
Court Upholds AI Book Training as Fair Use in Anthropic Copyright Case
Federal judge rules Anthropic's AI book training is fair use, dismissing authors' copyright lawsuit over unauthorized use of books for AI training.
Fixed Income And Interest Rates Events
Fed Chair Powell Affirms Treasury Market Stability and Maintains Stance on Interest Rates in House Testimony
Federal Reserve Chair Jerome Powell testified before the House, addressing various economic concerns. He affirmed that U.S. Treasuries remain a safe haven and the dollar will continue to be the world's reserve currency for the foreseeable future. Powell emphasized that Treasury markets are functioning normally and well. Regarding interest rates, he stated that the Fed is not currently considering rate cuts, citing credible forecasts of rising inflation. Powell also discussed potential changes to capital buffers that could enhance banks' roles in the Treasury market. He acknowledged that higher current interest rates provide more room for cuts to counter potential recessions. The Fed Chair reiterated that federal fiscal policy is on an unsustainable path and that future rate decisions will depend on economic factors. Powell's testimony comes amid criticism from former President Trump over interest rate policies.
Treasury Secretary Bessent Optimistic About Debt Ceiling Vote, Addresses Trade and Tax Plans
Treasury Secretary Bessent expresses confidence in passing the Senate bill through the House, aiming for a Friday vote. He assures that the US will never default on national debt but warns they're nearing the debt limit. Bessent mentions potential changes to the X-date if courts interfere with Trump tariffs and plans to finalize trade deals after the July 4th tax bill passes.
Trump Slams Fed's Powell, Demands Lower Interest Rates Amid Strong Economy
President Trump criticizes Fed Chair Jerome Powell for refusing to lower interest rates, arguing they should be two to three points lower given the strong economy and lack of inflation. Trump compares the US to Europe, which has implemented multiple rate cuts. He suggests Congress should scrutinize Powell's decisions during his testimony.
U.S. Treasury's 2-Year Note Auction Draws Strong Demand, Yields 3.786%
The U.S. Treasury's $69 billion 2-year note auction saw strong demand, with a high yield of 3.786%, slightly below the expected 3.787%. The bid-to-cover ratio was 2.58, indicating solid interest. Indirect bidders were softer at 60.5%, while direct bidders showed strength at 26.3%. This marks the fourth "stop-through" in five auctions, reflecting robust market appetite for short-term government debt.
German Bond Yields Surge as Finance Agency Boosts Debt Issuance Amid Strong Demand
German government bond yields are on the rise, with the 10-year yield reaching a one-week high of 2.56% and the 30-year yield hitting a nearly one-month high of 3.074%. The German Finance Agency reports strong demand for long-term bonds and plans to increase debt issuance in Q3 by €19 billion, including €15 billion in bonds and €4 billion in bills. While a 50-year bond is not planned for this year, internal conditions have been created for potential future issuance. The agency hints at continued upward adjustments to bond issuance in Q4, with details to be published in late September. These developments occur amidst broader market movements, including oil price declines and upcoming testimony from Fed Chairman Powell.
Japan's 20-Year Bond Auction Attracts Strong Demand, Asian Bond Markets Show Mixed Signals
Japan's 20-year bond auction saw strong demand, with the highest ratio since March, though slightly below the 12-month average. The auction tail narrowed significantly. Meanwhile, 10-year bond futures dropped, and India's 10-year government bond yield decreased slightly. These events reflect shifting dynamics in Asian bond markets.
US Home Price Growth Slows Amid Rising Interest Rates
US home price gains are decelerating as high interest rates squeeze buyers. This slowdown is more significant than anticipated, potentially impacting the real estate market for both buyers and sellers.
Real Estate Events
Powell: No Recession, Fed Can't Fix Housing Shortage
Fed Chair Powell states the US is not in recession and Fed policy won't affect long-term housing supply. He notes a housing shortage and asserts no tension between Fed mandates.
US Home Prices Unexpectedly Drop in April as Buyer Demand Cools
US home prices declined in April, with the House Price Index falling 0.4% month-over-month, contrary to expectations of a 0.1% increase. The year-over-year growth rate slowed to 3.0% from 3.9% in March. This deceleration reflects buyers' retreat from the market, indicating a persistent downtrend in housing prices.
Healthcare Events
Royalty Pharma Invests $2 Billion in Revolution Medicines' Cancer Drug Development
Royalty Pharma agrees to provide Revolution Medicines up to $2 billion in funding for their RAS(ON) inhibitor portfolio, aimed at treating RAS-addicted cancers. This flexible agreement supports global development and commercialization efforts.
InMed's Alzheimer's Drug Breakthrough: Lab Tests Show Reduced Brain Inflammation
InMed's Alzheimer's drug candidate, INM-901, shows promising results in reducing neuroinflammation during lab tests, potentially offering a new treatment approach for the disease.
FDA Feedback Boosts OS Therapies' Osteosarcoma Treatment Prospects
OS Therapies received positive FDA feedback on the regulatory pathway for accelerated approval of OST-HER2, a treatment for pediatric lung metastatic osteosarcoma. The company's stock surged in pre-market trading.
Nektar's Eczema Drug Success Sparks Stock Surge
Nektar Therapeutics' experimental drug rezpegaldesleukin shows promising results in a Phase 2b trial for moderate-to-severe atopic dermatitis, meeting primary and key secondary endpoints. The news boosts company stock.
Corporate Actions Events
Spain Adds Hurdles to BBVA-Sabadell Merger, Delaying €14 Billion Deal
Spain's government has imposed new conditions on BBVA's proposed €14 billion takeover of Banco Sabadell, delaying the merger. The conditions include restrictions on board appointments and a waiting period before the deal can proceed, adding complexity to the long-standing proposal.
Earnings Events
FedEx Beats Q4 Estimates, Suspends Full-Year Outlook Amid Global Uncertainty
FedEx reported strong Q4 results, beating estimates with adjusted EPS of $6.07 and revenue of $22.22B. However, Q1 guidance fell short of expectations, with EPS projected at $3.40-$4.00. The company targets $1B in cost savings by FY26 and plans $4.5B in capital expenditure. FedEx suspended its full-year outlook due to global demand uncertainty, forecasting flat to 2% revenue growth in Q1.
Carnival Boosts Profit Forecast as Cruise Demand Sails Steady
Carnival Corp raised its full-year profit outlook following strong Q2 results, as cruise demand remains robust despite economic volatility. The company's shares surged on the news.
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