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Here’s your weekly market recap, bringing you the biggest updates in stocks, crypto, and the economy—quick, clear, and to the point.

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📉 JPMorgan to take over Apple’s credit card
Goldman Sachs is exiting its deal with Apple, and $JPM ( ▲ 0.36% ) is reportedly stepping in to take over the Apple Card and related services. The move gives JPM a tighter grip on consumer fintech while marking another retreat by GS from mass retail banking.

👨‍💻 Apple keeps losing AI talent to Meta
$AAPL ( ▼ 0.3% ) AI ambitions hit another snag as top engineers continue to defect to Meta, drawn by its open-source stance and bold AI plans. The talent drain raises questions about Apple’s ability to compete in the AI arms race.

🏦 Revolut eyes US banking license with acquisition
UK fintech Revolut is in talks to acquire a US bank as a shortcut to a full banking license. The move would boost its ambitions in the American market, especially after years of regulatory delays on both sides of the Atlantic.

📈 Meta stock jumps after strong earnings
$META ( ▼ 2.27% ) shares surged after an upbeat earnings call, with better-than-expected revenue and strong user growth. CEO Mark Zuckerberg emphasized continued AI investment and monetization of Reels and Threads.

📸 AI Cameras Are Coming to Supermarkets
UK supermarkets are quietly rolling out AI-powered surveillance cameras to monitor shoppers' movements and behavior. These systems track what items people touch, how long they linger, and even their emotional reactions — all in the name of reducing theft and optimizing layouts.

📉 Bitcoin & Ethereum ETFs suffer hefty outflows
Spot Bitcoin ETFs saw $812 million pulled, and Ethereum funds lost $153 million, ending a 20‑day inflow streak. Despite recent SEC reforms like in‑kind redemptions and the launch of “Project Crypto,” investors pulled back amid a fragile market mood.

🌍 Indonesia hikes crypto taxes
Starting August 1, Indonesia raised tax rates on overseas crypto trades to 1% (from 0.2%), and domestic trades to 0.21%. VAT on mining doubled, while VAT on buyers was eliminated. The move aligns with tighter crypto regulation amid industry growth.

📊 Ethereum surges amid regulatory optimism
Ethereum has rallied ~43% month‑to‑date, outpacing Bitcoin thanks to stablecoin legislation (e.g. the GENIUS Act), rising ETF inflows, and tokenization demand. Analysts see ETH possibly surpassing its $4,865 all‑time high, as institutions continue adding ETH to their treasuries.

📦 US tariffs go live with major changes
The US has implemented new tariffs targeting Chinese imports, including EVs, semiconductors, and solar panels. The move aims to protect domestic industries but raises concerns about renewed trade tensions with Beijing.

📊 US GDP beats, jobs data solid
The US economy grew 2.8% in Q2, beating expectations, while jobless claims remained low, signaling continued strength in the labor market. The data supports a soft landing narrative, despite global uncertainty.

🏦 Fed keeps rates steady, signals patience
The Federal Reserve held interest rates unchanged, emphasizing the need for more data before making further moves. While inflation is cooling, the Fed is not ready to cut until there’s clearer evidence of sustained progress.

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Disclaimer:
We are not financial advisors, and the information provided in this newsletter is for educational purposes only. Always conduct your own due diligence and consider what makes sense for your individual financial situation. Investing involves risks, and there is no guarantee of making money. In fact, you may lose money. We aim to provide you with the tools and insights to help you make informed decisions, but the ultimate responsibility lies with you.