Sponsored by Sterling Metals

Crypto behind nearly half of all corporate political contributions

A new report from the consumer advocacy group Public Citizen reveals that the cryptocurrency industry is leading corporate political donations in the 2024 election cycle. The sector accounts for nearly half of all corporate contributions to political action committees (PACs) this year, potentially reshaping the landscape of election financing.

According to the report, blockchain companies have contributed 48% of the $248 million in corporate donations aimed at influencing federal elections. Fairshake, the crypto industry’s primary PAC, has raised a significant portion of these funds, with estimates ranging from $169 million to $202 million.

You can read more on the matter here.

What’s going on?

• 98% of Air Canada Pilots Vote for Strike Authorization as Wage Gap Persists (theDeepDive)

• Wyoming is pushing crypto payments and trying to beat the Fed to a digital dollar (CNBC)

• CUPE Ontario President Rejects Calls for Resignation Amid Controversy (theDeepDive)

• Uranium-Miner Shares Gain on Kazakh Output-Guidance ‘Miss’ (Bloomberg)

• Andrew Tate, Brother Face New Accusations Of Trafficking Minors Via “Loverboy” Scheme (theDeepDive)

• U.S. Justice Department accuses RealPage of driving up rents (Reuters)

• Riverdale Residents Blindsided by Metrolinx Property Expropriations for Ontario Line (theDeepDive)

• RFK Jr. withdraws from Arizona ballot as questions swirl around a possible alliance with Trump (CTV)

• Cheese Prices Surge Amid Seasonal Demand and Supply Constraints (theDeepDive)

• BHP's return to Argentina marks new hope for untapped copper mines (Reuters)

• German Nato base on high alert over Russian sabotage threat (FT)

• Ottawa Forces Rail Deal Amidst National Lockout (theDeepDive)

What’s the latest?

• Rail Strike: The Teamsters Canada Rail Conference has announced that it has taken down picket lines at Canadian National Railway, with workers set to return to work on Friday. However, the work stoppage at Canadian Pacific Kansas City continues, pending a decision from the Canada Industrial Relations Board. Federal Labour Minister Steven MacKinnon referred the dispute to the CIRB to impose binding arbitration after both railways locked out workers.

• US Home Sales: New-home sales in the US surged by 10.6% in the latest month to a 739,000 annual rate, marking the highest level since May 2023, as buyers capitalized on lower mortgage rates and increased listings. Inventory levels fell to their lowest since the start of the year, while the median sale price of a new home decreased by 1.4% year-over-year to $429,800.

• Retail Sales: Canadian retail sales likely increased by 0.6% in July, marking only the second monthly gain this year, according to a preliminary estimate from Statistics Canada. However, this uptick follows a decline of 0.3% in June and does little to offset a weak first half of the year, with sales down 0.5% in the second quarter after a 0.4% drop in the first quarter.

• SpaceX Spacewalk: SpaceX's upcoming mission, Polaris Dawn, is set to attempt the first-ever private spacewalk, marking one of the company's most ambitious and risky endeavors. The mission, launching next week, will feature a billionaire entrepreneur, a retired military pilot, and two SpaceX employees aboard a modified Crew Dragon craft.

• Gold Fields Guidance: Gold Fields Ltd. has reduced its production guidance for the second time this year due to operational challenges at its mines in Chile and South Africa. The company now expects to produce 2.05 million to 2.15 million ounces of gold in 2024, down from its revised target of 2.2 million to 2.3 million ounces set in June. This follows a 20% decline in production in the first half of the year.

What's next for Plurilock Security?

The stock market and stuff

• With Fed rate cut set, Powell's Jackson Hole talk could turn to the future (Reuters)

• Albertsons CEO Accused of Destroying Key Evidence Ahead of $24.6-Billion Kroger Merger Trial (theDeepDive)

• Cava earnings beat estimates as restaurant traffic climbs nearly 10% (CNBC)

• Microsoft, Cyber Firms to Meet on Fixes After CrowdStrike Crash (Bloomberg)

In the juniors

• LNG Energy To Launch Oilfield Services Division (theDeepDive)

• Biggest diamond found since 1905 unearthed in Botswana by Canadian miner Lucara Diamond (Globe)

• YCombinator Ventures into Weapons Sector, Backs Anti-Ship Missile Startup (theDeepDive)

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