Google Wallet To Rival Apple Wallet 👊

Good morning. It's Wednesday, Aug. 28, and we're covering, Intel Board Member Resigns Over Disagreements On Revival Strategy, Google Wallet To Rival Apple Wallet For Android Users, Trump Faces New Election Interference Charges Following Supreme Court Ruling, and much more. First time reading? Sign up to get this newsletter: Sign up here.

We always Listen and respond to questions and feedback, email us at [email protected]

MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2.08 Trillion, a 6.00% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $88.82B, which makes a 34.73% increase.

• The total volume in Defi is currently $4.2B, 4.73% of the total crypto market 24-hours.

• The volume of all stablecoins is now $82.97B, which is 93.42% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 56.15%, an decrease of 0.11% over the day.

BUSINESS & FINANCE

Intel Board Member Resigns Over Disagreements On Revival Strategy

Lip-Bu Tan, a semiconductor industry veteran and Intel board member resigned due to disagreements with CEO Pat Gelsinger and other directors over Intel's bloated workforce, risk-averse culture, and slow progress in AI. Tan was frustrated by the company's failure to embrace AI advancements and its bureaucratic management structure. Despite recent layoffs, Tan believed deeper cuts were needed, particularly among middle managers.

Why It Matters: Tan also expressed concern over Intel's struggling efforts to enter contract chip manufacturing. The collapse of a $5.4 billion deal to acquire Tower Semiconductor hindered these ambitions. As Intel continues to build factories without securing new customers, uncertainty mounts regarding its turnaround efforts. Tan’s departure highlights the challenges Intel faces in re-establishing itself as a leader in the semiconductor industry. (Read Deeper)

Namibian Assets Surge Amid Oil Discoveries And Election Anticipation

The discovery of substantial crude oil reserves in Namibia has driven a surge in demand for Namibian assets. An index fund tracking local government bonds is experiencing record growth, with a jump of over 20% in U.S. dollar terms following the April discovery by Galp that the Mopane oil field may hold over 10 billion barrels. This discovery has attracted interest from 12 major oil companies, with Namibian government bond yields declining sharply.

Takeaway: Namibia's equities index has gained 19% year-to-date, and the Namibian dollar has strengthened 4.5%. The country’s potential is drawing attention ahead of a presidential election, with economic policy changes being closely watched. The ruling party’s candidate, Netumbo Nandi-Ndaitwah, is expected to win, with the future of key economic figures potentially influencing Namibia's economic direction. (Read Deeper)

TECHNOLOGY & SCIENCE

Google Wallet To Rival Apple Wallet For Android Users

Google Wallet is emerging as a strong competitor to Apple Wallet for Android users, thanks to recent updates and features. Notably, California has joined the growing list of states supporting mobile driver's licenses via Google Wallet, with 1.5 million residents eligible for the pilot program. This brings Google Wallet to par with Apple regarding state ID support.

Takeaway: Google Wallet has also introduced a new feature that lets users create digital passes from almost anything, including store loyalty and insurance cards, using text recognition and AI. This makes it more versatile than Apple Wallet, which still relies on pre-supported digital versions. With increasing support from banks and improved functionality. (Read Deeper)

Scientists New Discovery On Venus Could Change Our Thinking Of The Planet

Scientists have discovered an increase in the ratio of deuterium (a heavy isotope of hydrogen) relative to hydrogen in Venus' atmosphere, suggesting that the planet may have undergone substantial atmospheric changes over time. Data from the Venus Express space probe shows that solar radiation has stripped away hydrogen from Venus' atmosphere, leaving behind deuterium-enriched water, especially at high altitudes.

Takeaway: The discovery challenges existing assumptions about Venus' barren state and may lead to a better understanding of the planet's atmospheric evolution, helping scientists refine models that estimate how much water Venus has lost over time. (Read Deeper)

AROUND DE WORLD & POLITICS

Trump Faces New Election Interference Charges Following Supreme Court Ruling

Former President Donald Trump faces new charges from U.S. prosecutors regarding his alleged attempts to interfere in the 2020 election. These charges were revised following a Supreme Court ruling on presidential immunity, now focusing on his actions as a political candidate rather than as a sitting president. The indictment, brought by Special Counsel Jack Smith, maintains four key charges, including conspiracy to defraud the U.S. and obstruct an official proceeding.

Takeaway: Among the most notable changes in the new indictment is the removal of charges related to Trump allegedly pressuring Justice Department officials to overturn the election results. Trump continues to deny the allegations and argues that the case should be dismissed. This case is part of an investigation into Trump’s post-election actions and handling of classified documents. (Read Deeper)

Global Police Crackdown On Black Axe Mafia In Nigeria

Global police forces conducted Operation Jackal III, a major crackdown on the Nigerian mafia group Black Axe, resulting in 300 arrests across 21 countries. Coordinated by Interpol, the operation targeted the group’s vast criminal activities, including cybercrime, fraud, and money laundering, which have exploited new technologies like cryptocurrency.

Why It Matters: Despite seizing $3 million in assets and freezing over 700 bank accounts, authorities warn that Black Axe remains a serious global threat due to its sophisticated operations and international reach. Experts stress that long-term prevention efforts are needed to address the root causes of crime in West Africa. (Read Deeper)

ENTERTAINMENT & SPORTS

Dani Olmo's Debut Winner Ends Barcelona's Rayo Vallecano Curse

Barcelona secured a crucial 2-1 comeback win against Rayo Vallecano, breaking a winless streak of three La Liga matches at the Estadio de Vallecas. Dani Olmo, the club's star summer signing, played a pivotal role in the victory with a debut goal that sealed the win. Barcelona faced an early setback when Rayo's Unai López scored in the 10th minute, marking his first goal since 2023, ironically also against Barcelona. (Read Deeper)

Kelce Brothers Sign $100 Million Deal With Amazon

Jason and Travis Kelce have inked a lucrative deal with Amazon’s Wondery, granting the podcast giant exclusive ad sales and distribution rights for their popular podcast, New Heights. The three-year agreement is valued at over $100 million, a testament to the show's success and cultural impact. Starting August 28, Wondery will hold global distribution rights to all past and future episodes of New Heights, which covers everything from NFL life to pop culture. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• RFK Jr: Teaming up With Trump, Pavel Durov’s Arrest, CIA, and the Fall of the Democrat Party. (Listen)

EXTRA BREVITI

• Apple has reportedly cut around 100 jobs from its digital services group. (Read More)

• Traders in the U.S. equity options market are expecting Nvidia’s upcoming earnings report to trigger a potential $300 billion swing. (Read More)

• Meta and Spotify are reportedly working on a new feature for Instagram that allows users to continuously share what music they are listening to via Instagram’s Notes. (Read More)