🤯 A huge moment in crypto is coming

Alibaba kept it together | The BoE went big | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for August 5th in 3:07 minutes. 🍹 Finimized with an Cornish ginger beer at [Fat Apples Cafe]( in Cornwall, UK (☀️ 24°C / 75°F) Today's big stories - Alibaba’s drop-off in quarterly revenue wasn’t too dramatic, all things considered - One of the biggest events in crypto is right around the corner, so should you buy in while you still can? – [Read Now]( - The Bank of England raised interest rates by the most since 1995 A-Ma-zing [A-Ma-zing] What’s Going On Here? Alibaba [reported]( better-than-expected results on Thursday. What Does This Mean? Here’s the good thing about Alibaba: it’s so big that at least one part of its business is bound to flourish come rain, shine, or government-mandated lockdown. This time, it was Taocaicai that came into its own, with the value of transactions on the fresh food platform booming more than 200% last quarter from the same time last year. And even though the rest of Alibaba’s ecommerce segment had a slow April and May, it recovered in June thanks in part to China’s annual shopping festival. The company’s cloud computing business made the best of a tough few months too, posting a 10% uptick in sales even as the government cracked down on multiple online industries. So while Alibaba’s revenue did fall marginally, investors knew it could’ve been much worse, and they sent its US-listed stock up 6%. Why Should I Care? Zooming in: Change of plan. This was Alibaba’s first drop in revenue on record, but analysts don’t necessarily [think]( it’ll become a habit. For one thing, Alibaba has recently promised to invest more in areas that are good for long-term growth. And for another, the Chinese government has realized it’ll need to let up on its anti-tech crusade and boost economic support if it wants to achieve its [increasingly unrealistic]( growth targets. The bigger picture: SoftBank runs for the hills. The US has threatened to delist a host of Chinese companies from its stock market after they failed to stick to its disclosure rules. And it’s just [added]( Alibaba to the line-up, which puts the company in a tight spot: a delisting would force some funds to sell its stock, which would send its share price tumbling. SoftBank doesn’t want to hang around to see that happen: the investment giant has [reportedly]( started selling “[forward contracts](” that could see it dramatically reduce its stake in Alibaba over the next few years. You might also like: [Is SoftBank right to bail on ‘baba?]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=A-Ma-zing&utm_campaign=daily-global-05-08-2022&utm_source=email) Analyst Take Will The Transition To Proof-Of-Stake Help Or Hinder Ether’s Price? [Will The Transition To Proof-Of-Stake Help Or Hinder Ether’s Price?]( By Jonathan Hobbs, Analyst Ether has rallied [three times as much as bitcoin]( since mid-June, shooting up 85% in value. That might have something to do with the fact that the network is doing away with mining altogether in mid-September, going from a [proof-of-work blockchain]( to a [proof-of-stake](. The event – dubbed “the merge” – will be [one of the biggest ever seen]( in crypto, but a big question remains: what effect will it have on the cryptocurrency’s price? As far as I see it, there are [three reasons]( the merge might work in the crypto’s favor, and [three reasons]( it might not. So that’s today’s Insight: [whether you should buy into ether before the merge](. [Read or listen to the Insight here]( SPONSORED BY INVESTOR PLACE And this year’s top stocks are… Louis Navellier’s a dab hand at spotting the [stocks that are ready to rally](. Just check out his track record: his algorithm found Apple at $1.49, Microsoft at $0.38, and Cisco at $0.47. And it just so happens that Navellier’s finished picking [his top stock picks]( for this year, and he’s ready to [share them with you for free](. [Discover Louis Navellier’s top stock picks for free today](. [Download The Report]( Please see [important disclosures here](. Not-So-Great Britain [Not-So-Great Britain] What’s Going On Here? The Bank of England (BoE) [raised]( interest rates by the most in 27 years on Thursday. What Does This Mean? Five 0.25% hikes in a row from the BoE, and UK inflation still [hit]( another 40-year high in June. So no more Mr. Nice Guy: the central bank increased interest rates by 0.5% on Thursday, with eight of its nine policymakers voting in favor of a hike that takes rates to the highest level since the financial crisis ([tweet this](). And it didn’t stop there: the BoE also laid out plans to sell some of the $1 trillion-plus worth of bonds it’s accumulated over the years. This, after the BoE said last month that there would be no “ifs or buts” in its commitment to bringing inflation back to its 2% target, and warning on Thursday that it wouldn’t hesitate to act forcefully again if it had to. Why Should I Care? The bigger picture: It’ll probably have to… The BoE now thinks inflation will peak at 13.3% in October, which holds water: the UK’s energy price cap is set to rise again in winter, causing the average household energy bill to increase by around 75%. And even when inflation has peaked, Brits won’t be out of the woods: the central bank is forecasting a recession in the fourth quarter of the year – one it thinks will last for the whole of 2023. For markets: Ditch the pound. The BoE has now joined the 70-odd central banks around the world that have now raised rates by 0.5% or more this year. But it’s still no match for the US Federal Reserve, whose back-to-back 0.75% hikes have made the dollar much more appealing to international investors and savers. The BoE’s relatively easy-does-it approach, then, might be why the British pound fell versus the dollar after the announcement. You might also like: [An investor’s guide to the impending recession (… or not).]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Not-So-Great Britain&utm_campaign=daily-global-05-08-2022&utm_source=email) 💬 Quote of the day “Forgiveness is the key to action and freedom.” – Hannah Arendt (a political philosopher and author) [Tweet this]( SPONSORED BY BITMART Get $3,000 for checking out altcoins Crypto’s dip could make it the perfect time to pick up some new coins for less. So if you’re looking to branch out, you’ll want to check out [BitMart](: the crypto exchange has around [1,000 altcoins]( on offer, and already boasts more than 9 million loyal users. And with BitMart’s [Elite Program](, you could get your hands on rewards like [exclusive NFTs drops](, mystery token airdrops, and [premium staking rewards](. Here’s the cherry on top: you could get up to [$3,000 in welcome bonuses]( if you sign up as a new user. [Get rewarded for exploring crypto today](. [Discover Altcoins]( When you support our sponsors, you support us. Thanks for that. 🌍 Finimize Live 🎉 Coming Up In The Next Week… All events in UK time. 📈 [A Case For DAO Treasury Diversification](: 6pm, August 9th 🥳 And After That… 🤑 [How To Protect Your Crypto Portfolio During A Recession](: 5pm, August 15th 💰 [The Secret To Making Money During High Inflation](: 1pm, August 16th 💻 [How To Spot The Best Tech Stocks](: 6pm, August 16th 🤯[Inflation Strategies For Savvy Investors](%20inflation%20strategies%20for%20savvy%20investors-2m895c:%2012pm%20UK%20time,%20August%2018th/): 12pm, August 18th 🏈 [Crypto And The Sports Community](: 5pm, August 23rd 👑 [How To Invest In Gold On The Blockchain](: 5pm, August 25th 😎 [How To Spot The Next Ethereum Killer](: 1pm, August 30th 🎉 [How To Build Wealth In Your 20s](: 5pm, September 1st 🎯 On Our Radar - Eat meat, save animals. [Lab-grown meat]( could give you the best of both worlds. - Can’t get over your ex? Neither can [reality television](. - Now that’s a rock. Here’s the [biggest pink diamond]( ever found. - The suburbs need a redesign. There’s a lot more potential in [culs-de-sac](. - Being teetotal is in. Bars across New Orleans are [leading the non-alcoholic charge](. ❤️ Share with a friend Your Referrals: 0 Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. Share your unique link: [ You stay classy, {NAME} 😉 We’d love to hear your thoughts. [Give feedback]( Want to advertise with us too? [Get in touch]( Image Credits: Image credits: Richard Juilliart - Shutterstock | Ollyy - Shutterstock Preferences: [Update your email]( or [change preferences]( [View in browser]( [Unsubscribe]( from all Finimize Emails 😴 Crafted by Finimize Ltd. | Bow Bells House, Bread Street, London, EC4M 9HH All content provided by Finimize Ltd. is for informational and educational purposes only and is not meant to represent trade or investment recommendations. 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