25m ago
Better and Coinbase close first Fannie Mae-conforming mortgage backed by Bitcoin collateral in the US
In June 2025, the Federal Housing Finance Agency (FHFA) issued a rule allowing Fannie Mae to treat Bitcoin and other crypto assets held in custody at licensed U.S. centralized exchanges as qualifying reserve assets. Under that framework, Better and Coinbase completed the first Fannie Mae-compliant mortgage in the U.S. in early July 2026, with a borrower using Bitcoin and USDC to collateralize a $100,000 down payment without selling the assets. The product requires 2.5x overcollateralization and accepts only BTC/USDC held on regulated platforms such as Coinbase, excluding self-custody and DeFi assets. A nationwide rollout is planned for summer 2026.
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25m ago
52m ago
WTI crude rebounds +0.16% as a weaker dollar sparks short covering
WTI crude rose +0.16% on Thursday as the dollar weakened and short covering emerged. The market still faced heavy bearish pressure as Middle East supply flows continued to recover, with Saudi exports at 90% of prewar levels and the UAE back to full prewar levels. Prices were also weighed by record Russian crude exports of 4.13 million bpd and signs of progress in Iran nuclear talks. Iraq also warned it could leave OPEC if it does not receive a higher output quota.
52m ago
53m ago
California gas averages $5.40 a gallon ahead of July 4, up $0.83 from a year earlier
Ahead of July 4, California’s average gasoline price has climbed to $5.40 per gallon, up $0.83 from $4.57 a year ago, according to the American Automobile Association. Nationwide prices have also risen, with the national average at $3.84 per gallon, as the war in Iran has tightened global oil supplies. California’s increase in its gasoline excise tax to 63.4 cents per gallon on July 1, along with limited local refining capacity and stronger seasonal demand, has added to the state’s outsized jump. Prices in areas including Los Angeles, San Francisco and Mono County are running well above the national average.
53m ago
54m ago
Polygon posts record 743 million transactions in Q2 2026, up 160% year on year
Polygon recorded 743 million transactions in the second quarter of 2026, marking its highest quarterly total on record and a 160% increase from the same period in 2025. The figure was confirmed by Blockworks and Polygon team member Abhinav Sharma. The jump was attributed to scaled deployment of payments infrastructure and growth in ecosystem applications. As Polygon’s native token, MATIC’s value-capture thesis is tied to network usage intensity, with the surge in transactions framed as a direct check on on-chain economic activity.
54m ago
1h ago
Global stocks slide as US semiconductor index drops more than 6% and June payrolls rise 57,000
Global equities fell on Thursday, led by a slide in semiconductor shares after Meta Platforms said it plans to sell computing power, stoking concerns about potential AI overcapacity. U.S. June nonfarm payrolls rose by 57,000, well below expectations of 110,000, and earlier months were revised down, pointing to a cooling labor market and reinforcing rate-cut expectations. The dollar index (DXY) fell 0.52% as emerging-market currencies strengthened, while oil prices were little changed and European stocks moved higher.
1h ago
1h ago
Brazil plans slower phase-out of 1.12 real-per-liter diesel subsidy as 0.44 real gasoline support ends within days
Brazil’s planning and budget minister said the government will take longer to phase out the 1.12 real-per-liter diesel subsidy than the gasoline benefit to avoid price shocks and fuel shortages. The 0.44 real-per-liter gasoline subsidy is set to be removed within days. The plan comes as Brent crude has fallen from a wartime peak of $118 a barrel to $71.51, though the decline has not been fully passed on to consumers. The government is also weighing whether to cut or end the 12% crude oil export tax introduced in March.
1h ago
1h ago
WTI slides to a 4.25-month low, weighing on sugar as mills tilt cane toward sugar over ethanol
WTI crude oil (CLQ26) fell to a 4.25-month low on Thursday, pressuring ethanol prices and encouraging Brazilian mills to allocate more cane to sugar production and less to ethanol. New York raw sugar (SBV26) fell 0.93%, while London white sugar (SWQ26) briefly hit a 9.75-month high before giving back most gains. The report also cites bullish backdrops including below-normal monsoon rainfall in India and the formation of an El Niño, but says the oil-driven supply shift is the dominant near-term headwind.
1h ago