TL;DR

• Paxos will expand its services to Arbitrum, Ethereum's layer 2 network.

• PayPal and Venmo have integrated Ethereum's domain name service (ENS) to support encrypted payments.

• Macro factors have caused the correlation between Bitcoin and the S&P 500 to hit a 23-month high.

• Polygon Labs is acquiring a VPU-based server system valued at $5 million.

• Most economists expect the Federal Reserve to cut interest rates by 25 basis points in September, with two more cuts likely this year.

• a16z will host the HACK UK hackathon next month, focusing on blockchain and digital identity topics.

• U.S. Democratic Congresswoman Maxine Waters criticized Trump’s cryptocurrency project.

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Alpha of the Day

Paxos Packs Its Bags for Arbitrum: L2 Just Got an Upgrade

Paxos is about to level up by expanding its services to Arbitrum, Ethereum’s layer 2 network. It’s like they’ve decided to move from a crowded city to a sleek, high-rise condo—more space, faster transactions, and fewer gas fees. Arbitrum’s scaling magic is what Ethereum enthusiasts have been drooling over, and Paxos is ready to ride that wave. By making this move, Paxos is signaling they’re all in on making crypto more accessible and less, well, expensive. Time to enjoy faster transactions and less wallet-crying when you check gas prices!

PayPal and Venmo Join the ENS Party: Send Crypto Like a Pro

PayPal and Venmo just made it easier to send and receive crypto by integrating Ethereum’s ENS (Ethereum Name Service). Instead of dealing with long, mind-numbing wallet addresses, now you can just type in something like "coolname.eth" and boom—money sent. It’s like switching from a confusing license plate number to a catchy vanity plate. This is a big win for crypto usability, turning what used to be a nerdy guessing game into something even your grandma might get the hang of. Send those crypto payments with style now!

Bitcoin and S&P 500: The 23-Month High Besties

Apparently, Bitcoin and the S&P 500 have become besties, with their correlation hitting a 23-month high. It’s like two unlikely characters in a buddy movie suddenly bonding over a shared crisis—thanks to those pesky macro factors. When the economy gets shaky, it’s no surprise everyone from traditional stocks to the wild world of crypto starts to move in sync. Maybe Bitcoin’s trying to fit in with the grown-ups, or maybe the S&P 500 is trying to loosen up. Either way, their newfound alignment has investors doing a double take.

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Polygon Labs: Spending $5 Million on a VPU Like It's NBD

Polygon Labs is about to drop $5 million on a VPU-based server system, and it’s giving off major "treat yourself" energy. It’s like splurging on the latest tech gadget because you know it’s going to take your setup to the next level. For Polygon, this big tech buy means more power to expand their infrastructure and handle the increasing demand for decentralized apps and scaling solutions. They’re not playing around—this investment shows they’re serious about staying ahead in the crypto tech game.

Economists Predict Fed Rate Cuts: September’s Surprise

Most economists are betting on the Federal Reserve cutting interest rates by 25 basis points in September, and they're not stopping there—two more cuts could be on the way. It’s like the Fed is slowly turning down the heat on a simmering economy. These cuts might not be earth-shattering, but they’re enough to get everyone in finance buzzing. Whether you’re a crypto trader or just watching your mortgage rates, keep your eyes on these moves. The Fed’s decisions will ripple through the economy like a very, very serious TikTok trend.

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a16z’s HACK UK Hackathon: Blockchain, Identity, and Code Mayhem

If you’re into hacking—legal, creative hacking, that is—then you’ll want to keep an eye on a16z’s upcoming HACK UK hackathon next month. With a focus on blockchain and digital identity, this is where the sharpest minds will code their hearts out, trying to solve problems and create the next big thing. Think of it as Coachella, but for blockchain nerds, and instead of music, you’ve got lines of code. It’s the place to be if you’re looking to dive deep into decentralized tech and make waves in the industry.

Maxine Waters vs. Trump’s Crypto Project: Shots Fired

U.S. Congresswoman Maxine Waters didn’t hold back in her criticism of Trump’s latest crypto venture. It’s like watching someone call out their ex’s sketchy new startup—shots fired, but you’re not surprised. Waters has never been shy about her views on financial regulation, and now she’s taking aim at Trump’s move into crypto. Whether it’s a legit concern or just political shade, you can bet this debate is far from over. Get your popcorn ready, folks—this could get interesting.

Fed Rate Cut Watch: 69% Chance September Gets a Slice

The odds are in, and there’s a 69% chance the Federal Reserve will slice off 25 basis points from interest rates in September. It’s like betting on whether or not your favorite streaming show gets renewed for another season—everyone has their guesses, but we’ll just have to wait for the official drop. A rate cut could mean cheaper borrowing and a potential boost for the economy (and maybe your credit card balance), so keep an eye on the Fed’s next move. They’re playing financial chess, and the next piece is about to fall.

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