AlphaScala Daily: NKE cluster buy, BTC dips below 80K

Good morning.

Bitcoin slipped under the line at 79,526, down about 0.9% overnight, with ether holding near 2,501. On the tape, four Nike insiders bought over the past 30 days for a net $2.17M, the loudest cluster of the session; TSM logged 10 buyers and SPG three. Flywire (FLYW) tops the model at 85/100, with Newmont (NEM) at 82. Rep. Ed Case reported a purchase of AAPL, and Canada GDP is the only high-importance print on the calendar. Let's dive in.

Markets

• BTC/USD 79,526 ▼ -0.90% (BTC)
• ETH/USD 2,501.18 ▼ -0.39% (ETH)

Today's calendar

• Canada: GDP m/m

Deal Flow

M&A

• Rockawayx Acquires Relayer Capital, Adds 70% YTD Crypto Fund (Bitcoin) Rockawayx acquired Relayer Capital, adding a fund that returned 70% net in 2025 YTD. Founder Austin Barack stays as CIO. The deal strengthens Rockawayx's U.S. presence and…
• Mirae Asset targets $108B digital asset business with Digital X (Crypto news) Mirae Asset Group targets 150 trillion won ($108 billion) in digital assets by 2027, using acquired exchange Digital X for crypto, stablecoins, tokenized securities and RWAs.

IPOs / Listings

• Deepa Jewellers IPO to open Sept 1 at ₹168-177 band, ₹460 cr issue (BL) Deepa Jewellers IPO opens Sept 1 at ₹168-177 per share, raising ₹460 crore. Proceeds fund working capital. Listing on BSE and NSE on Sept 8.
• Polymarket bets see Anthropic IPO in October, not September (Finbold) Polymarket bets see Anthropic IPO in October, not September. Traders give October an 81% probability as a federal court ruling and $30 trillion revenue claim boost the bullish…

Funding Rounds

• Bitfinex Securities raises record $50M for Alkemya nickel token (Crypto news) Bitfinex Securities raised $50M via ALKN, a tokenized security tied to $1.64B in nickel. The raise tops its previous $30M record and keeps additional tokens open through Oct. 15.
• Anthropic tokenized perpetuals hit $2T valuation as company pushes back (Crypto Briefing) Synthetic perpetuals on Binance and Hyperliquid imply a $2 trillion valuation for Anthropic, double its May 2026 Series H price. The company has declared tokenized trades void.

Restructuring

• Tokenized Stock Risks: Why the Label Doesn't Tell You What You Hold (Crypto Daily) SEC warns that tokenized stock holders may lack voting rights, direct claims and bankruptcy protections. Product structure, not the token name, determines whether you own a share,…

Headline Roundup

Earnings

• Best Buy Raises Full-Year Outlook After Computing-Driven Q2 Beat (CNBC) Best Buy raised its full-year revenue and profit forecasts after comparable sales jumped 4.1% in Q2, far exceeding its earlier guidance. The computing-led surge gives incoming CEO…

Macro

• Rajan Urges Fed to Raise Rates, Says US Financial Conditions Not Restrictive (BL) Raghuram Rajan said the Fed should raise rates, calling US financial conditions not restrictive. The former RBI governor also said the rupee is not out of whack, with the RBI…

Stocks

• India's PM Jan Dhan Yojana crosses 59 crore accounts, deposits hit ₹3.17 lakh cr (Mint) The finance ministry says 78% of accounts were opened in rural and semi-urban areas, and about 56% are held by women. Average deposits per account have risen 3.4 times in 12 years.
• Indian Universities Face AI Disruption: Op-Ed Warns of Jobless Graduates (Mint) AI is eliminating entry-level jobs, forcing a rethink of higher education. A university director argues colleges must become 'sandboxes' for self-discovery and agility, or face…
• Nanomaterial Cover Blocks 80% of Heat, Cuts Water Evaporation in Lab (Nakedcapitalism) A 10°C cooler water surface and 80% infrared reflection: nanomaterial floating cover could slash reservoir evaporation without killing aquatic life.
• Wells Fargo's Alpha Score 58: Recovery Before Trust (Argaam) WFC's Alpha Score of 58 reflects a bank that has fixed its operations but still trades at a discount to peers. The question is whether the market will eventually close that gap.
• Chandra disputes ₹3,900 cr NCLT claim, says ₹43,000 cr of group debt repaid (Mint) Chandra says ₹43,000 cr of group debt repaid, calls ₹45,000 cr net worth figure a 'myth' as HDFC Bank plans to appeal NCLT's ₹6.5 cr settlement.
• India tyre exports hit ₹7,700 cr in Q1 as Europe demand jumps 25% (BL) Europe drove the gains with 25% growth to ₹3,003 crore, nearly 40% of total exports. The U.S. remained the top single-country destination at 16% of the quarter's value.
• Tonic teams with Mattel on Barbie, Hot Wheels vitamins (Retailtimes) Mattel makeover: Barbie and Hot Wheels Kids Multi Gummies and a Thomas & Friends Baby D3 edition land Aug. 28 at the same prices as Tonic's core range.
• Taylor Farms Cyclospora Outbreak Risks $7B Salad Supply (CNBC) Taylor Farms' cyclospora outbreak, linked to 40% of salad kits, threatens $7.3B supply chain. FDA investigates; lawsuits filed. Consolidation risks intensify.

Crypto

• JPMorgan Considers Stablecoin as Banks Rethink Tokenized Deposits (Dailycoin) JPMorgan is weighing a stablecoin as more than a dozen banks build a joint token. S&P warns deposit risk rises if stablecoins take off in US payments.
• 39 US state banking groups form BankChain Alliance for 2027 blockchain launch (Crypto news) BankChain Alliance, backed by 39 state associations representing 3,283 banks, plans a bank-owned blockchain network for tokenized deposits and stablecoins. The 2027 target puts it…
• Upbit Operator Dunamu Partners with Visa on Stablecoin Payments (Cryptopolitan) Dunamu, operator of Upbit, partners with Visa on stablecoin payments, remittances, and AI agent commerce. The deal explores OUSD but Dunamu says it is not prioritizing any single…
• Two Ledger Bugs Needed Fixing After Viral 'Hack' Was Patched (CryptoSlate) Ledger released Ethereum app 1.22.3 fixing two signing flaws that remained after the earlier patch. No exploitation found, but users should update.
• HMRC: 240 Crypto Millionaires Declared £717M in Gains (BeInCrypto) HMRC counted 17,600 crypto filers with £13.8B in disposals in 2024-25; CARF reporting from 2027 will give HMRC new visibility on undeclared gains.
• California Bans Politicians From Launching Memecoins (Crypto Briefing) California's AB 2409 passed both chambers 118-0, barring public officials from launching meme coins. Governor Newsom has the final say as the bill targets conflict-of-interest…
• 240 Crypto Millionaires Booked Over Half of Britain's Taxable Crypto Gains (Decrypt) HMRC published the first official breakdown of UK crypto gains, showing 240 taxpayers declared £1 million-plus gains, accounting for over half the £1.38 billion total. 65% of…
• Blockchain Explained: How Shared Ledgers Work and Where They Fall Short (Crypto Daily) A blockchain is a shared digital ledger where records are grouped into blocks and cryptographically linked. NIST defines it as a shared ledger with linked records. Nodes use…

Forex / Commodities

• Germany unemployment change 4k in August, rate steady at 6.4% (Forex Live) German jobless rose less than expected in August, with the unemployment rate unchanged at 6.4% for a third straight month, labour data showed.
• Dollar Wavers Between Oil-Yield Support and Risk Appetite (Action Forex) Oil and Treasury yields lift the dollar while risk appetite from NVIDIA's 8.74% rally weighs; Jackson Hole speech by Kevin Warsh is the next catalyst for the greenback. USDJPY…
• Sensex Rises 331 Points as IT Stocks Rally on Nvidia Outlook (Rediff) The Sensex rose 331 points as IT stocks rallied on Nvidia's earnings boost. Markets now await Fed Chair Powell's Jackson Hole speech for rate-path clarity.
• Debt, Tariffs and Three Fed Events: Why Gold Traders Are Watching Jackson Hole (FXEmpire) With $40 trillion in federal debt, foreign holdings near $9.3 trillion and trade tensions rising, three Fed catalysts through October could reprice gold and silver.
• G Mining Ventures Launches Buyback for Up to 2.54% of Shares (Manilatimes) G Mining Ventures will repurchase up to 7.5 million shares starting Sept. 1, representing 2.54% of its float, the company said Thursday.
• NVRO Metals Runs 202-Hour Demo on Hecla Ore, Pushes TRL 7 (Manilatimes) NVRO Metals ran a 202-hour continuous production demo on Hecla Greens Creek material, cutting technical risk and pushing the NVRO Process toward TRL 7. Gold upgraded 53.9x, silver…
• Warsh's Jackson Hole Speech, Nvidia Surge, Gold Rally Drive Macro (FXEmpire) Warsh's Jackson Hole speech, Nvidia's 9% surge, and gold's best month since 1999 define the macro picture as oil eases and BTC rises. Fed division and Treasury buybacks add to the…
• Kanda Express brings 453 tonnes of onion to Delhi, aims to cool prices (Rediff) The first Kanda Express rail rake delivered 453 tonnes of onion to Delhi as the government aims to cool retail prices that rose 88% to Rs 62 per kg. Buffer stock release expected…

Smart Money

• David J. Taylor (R-OH): PURCHASE IBP
• Tim Moore (R-NC): SALE T
• Ed Case (D-HI): PURCHASE AAPL
• David J. Taylor (R-OH): PURCHASE GOOGL
• Insider cluster: TSM: 10 insiders bought in last 30 days, net $45K (90d)
• Insider cluster: NKE: 4 insiders bought in last 30 days, net $2.17M (90d)
• Insider cluster: SPG: 3 insiders bought in last 30 days, net $139K (90d)

On the Radar

• Alpha Score top: FLYW (Flywire Corp), Alpha Score 85/100, top of AlphaScala model. Alpha Score of 85 reflects strong overall profile with strong momentum, strong value, moderate quality, strong sentiment.
• Alpha Score top: NEM (Newmont Corporation), Alpha Score 82/100, top of AlphaScala model. Alpha Score of 82 reflects strong overall profile with strong momentum, strong value, strong quality, moderate sentiment.
• Alpha Score top: HBM (Hudbay Minerals Inc.), Alpha Score 79/100, top of AlphaScala model. Alpha Score of 79 reflects strong overall profile with strong momentum, strong value, moderate quality, weak sentiment.
• Alpha Score bottom: BJGPY (Beijing Geekplus Technology Co., Ltd./ADR), Alpha Score 0/100, bottom of AlphaScala model
• Alpha Score bottom: BRAI (Braiin Ltd), Alpha Score 0/100, bottom of AlphaScala model
• COT extreme: Canadian Dollar (CAD): large speculators net short 158,166 contracts, 44.0% of open interest
• COT extreme: New Zealand Dollar (NZD): large speculators net short 32,620 contracts, 36.6% of open interest
• COT extreme: Mexican Peso (MXN): large speculators net long 79,452 contracts, 27.9% of open interest

This Week's Briefings

• Nasdaq: Nasdaq 100 drops 2.3% as Bitcoin rallies 20%; GOOGL top Alpha pick

Back Monday before the bell.