Coinbase unveils blockchain

Market Overview
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Year To Date Performances:

1. Coinbase has unveiled its highly anticipated Base blockchain, marking itself as the sole public firm to develop its own distributed ledger technology. This new blockchain, named Base, is constructed on the Ethereum platform, facilitating functions like fund transfers, cryptocurrency trading, NFT creation, and app development. Notably, there are already about 100 decentralized apps lined up for integration into this novel network. Since its launch on Wednesday, over $140 million worth of cryptocurrency has already been transacted through the blockchain.

2. President Biden has signed an executive order limiting US investments in China, targeting technologies related to military, quantum computing, semiconductors, AI, and cyber capabilities. The order focuses on startups and companies generating over 50% of their revenue from these sectors. It will require reporting of investment activities to the government and aims to enhance national security by reducing US financing of potentially threatening Chinese technologies. China criticized the move, accusing the US of hindering global trade and economic coercion, hinting at potential retaliatory actions in the future.

3. Investors are Flocking to Bezos-Backed Real Estate Investing App: Arrived. Over 353,000 others have invested over $100M in properties on the platform. Arrived offers highly curated vacation and long-term rentals: <0.2% pass their diligence process. In a few clicks, browse properties, invest anywhere from $100 to $50,000+ in each, sit back, and collect dividends and appreciation - Arrived takes care of the management and operations.*

4. Headlines

   1. Roblox announced that it missed both revenue and EPS expectations despite a rise in daily active users, engagement and bookings.

   2. Disney+ subscribers fell 7.4% from Q1 to Q2 2023.

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