The Daily Dough team is always asking - “What’s the next big trend nobody’s thinking about yet?”

And that’s where Exploding Topics comes into play. Their platform helps us find hot ideas, company, and trends before the masses.

We think this is a tool every entrepreneur, trader, and investor needs in their toolbelt.

What’s on the Menu 🍴

This week has a PACKED calendar for economic news and earnings…

And we think this is going to add fuel to the fire for the battle between bulls and bears! 🥊

Here’s what you need to know to get ready for the week ahead:

• Worldcoin’s UBI Dream - Utopia or Dystopia? 🤖

• Secure Your Assets from Cyber Crooks 🕵🏼

• Big Bank Earnings: Ammo for Bulls AND Bears 🏛

• What to Watch This Week 👀

Today’s newsletter is a 5 minute read.

Worldcoin’s UBI Dream - Utopia or Dystopia?

Meet Worldcoin - a project that scans your eyeballs in exchange for a sprinkle of cryptocurrency.

We've all heard about eyes being the windows to the soul, but apparently, they're also the windows to your crypto wallet now.

Worldcoin's lofty vision? To scan a billion irises by 2025.

While we’re all for innovation, this seems straight out of a dystopian sci-fi movie.

Worldcoin, now proudly boasting over 2 million users, aims to create a global identity platform and payment network - because nothing screams financial security like linking your cash to your corneas, right?

The whole shebang is being spearheaded by our very own artificial intelligence aficionado, Sam Altman.

With $115 million funding and endorsements from VC bigwigs like Andreessen Horowitz, this project is gaining traction.

In theory, Worldcoin could pave the way for a global currency and universal basic income (UBI), in a future where AI does all the work while we bask in eternal margarita time.

Yet, it’s not all rosy.

Here’s a quick list of criticisms being tossed at Worldcoin:

• Privacy pitfalls: Worldcoin's iris scans, a unique ID of sorts, are sparking privacy fears. There's no solid guarantee against potential data misuse.

• Shady tactics: MIT Technology Review caught Worldcoin in shady recruiting practices.

• Transparency issues: Worldcoin's elusive about their plans. Without a white paper or specifics, it's hard to weigh its risks and benefits or understand the tokenomics.

• Regulatory roadblocks: Some countries pose regulatory hurdles for Worldcoin. Notably, they've sidestepped launching their token in the US due to such uncertainties.

Currently, their app isn’t anything special.

It functions as a mobile wallet and an on-ramp where people can buy a handful of cryptocurrencies.

It also helps you connect your iris with your account if you happen to be at a location with an Orb…

They claim to be launching the Worldcoin token soon, but little is known about the tokenomics around this crypto.

So, could Worldcoin become the solution to giving people free money in a world where artificial intelligence kills all of our jobs?

Possibly, but we think it’s a long shot.

Until they offer more transparency, we recommend keeping your eyeballs - and your dough - to yourself.

Secure Your Assets from Cyber Crooks

Today we're talking about that elusive, yet priceless commodity - your digital privacy and security.

In our digital world, people are beginning to appreciate that their personal details (think phone numbers, home addresses, social security numbers) are, well…

Personal.

In the wrong hands, these details lead to, hacking, phishing, and other cyber-crime shenanigans.

Good news? The cavalry has arrived.

Privacy-focused firms like Deleteme, the cyber equivalent of a professional cleaning crew, are sprouting up like mushrooms after rain.

Their aim? To scrub your personal data from the grimy corners of the internet.

Crypto investors are often at the sharp end of nasty tricks like sim swapping and impersonations…

And they’ve been the driving force behind this privacy movement.

People who understand the importance of “self-custody” for assets like bitcoin have stepped up their security in a way that makes normies question their sanity.

Looking for a crash course in privacy and security?

Grab a copy of "Extreme Privacy". It's a veritable Swiss Army knife for protecting your digital self.

This enlightening read guides you through the jungle of securing your data (and physical space), and offers effective tactics to keep you under the radar.

However, for the everyday Joe and Jane, it's not about going off-grid.

Instead, it's about simple steps like:

• Deploying password managers

• Trading SMS-based two-factor authentication for token-based systems

• Ensuring your devices have the cyber equivalent of a clean bill of health.

And for Pete's sake, be judicious about what you share online!

So let's tighten those digital seat belts and start treating our online privacy like the treasure it is.

After all, safeguarding your digital data can be as profitable as your smartest investments.

Just ask anyone who's had their identity stolen. 🔒

Big Bank Earnings:
Ammo for Bulls AND Bears 🏛

Last Friday, three of the largest global banks (JP Morgan Chase, Citigroup, and Wells Fargo) kicked off the Q2 earnings reporting season.

We love tuning in to these reports because the banks have a wide vantage point over the entire global economy.

So how did Q2 earnings turn out for these financial behemoths and what did we learn?

Results were a little better than the average wall street analyst expectations at both JP Morgan and Wells Fargo, and slightly worse at Citigroup where trading and investment banking revenues remained sluggish.

All three banks grew their earnings per share at double digit % rates year-over-year, an encouraging sign for shareholders.

Management at all three banks remained generally optimistic about the state of the economy despite lingering uncertainty:

Judging by the weak stock price reactions during Friday’s session however, investors must have some concerns.

One area of potential concern is rising credit card delinquencies and the balances “charged off” by banks due to bankruptcies and non-payment.

We tweeted our chart of JP Morgan’s delinquencies and charge-offs since 2017:

The banks view the recent rising delinquencies as a “normalization” back to pre-pandemic levels.

And that could certainly be true, as delinquencies were abnormally low in 2021 & 2022.

However, it’s also possible that the rise in delinquencies could blow past the “normal” pre-pandemic levels if they keep rising over the coming quarters.

Bulls and bears can both point to areas within these bank earnings reports to justify their narratives.

Our goal is to make money though, not to marry a narrative.

We’ll keep an eye on these credit trends as they evolve and let data be our guide!

What to Watch This Week👀

Ready for the economic forecast for the upcoming week?

Here's what you should keep on your radar:

• Corporate Earnings: The Q2 earnings reporting season kicks into gear this week with notable releases from bellwethers such as Bank of America, Tesla, Netflix, Goldman Sachs, United Airlines, Lockheed Martin, Johnson & Johnson, TSMC, American Express, and more:

• Retail Sales (July 19, 2023): The US Census Bureau is ready to serve up the Retail Sales data for June. This is essentially the pulse of consumer spending in the U.S.

• Primary Mortgage Market Survey (July 20, 2023): Freddie Mac will be unrolling the latest figures on average mortgage rates. In the midst of the real estate roller coaster we're currently experiencing, this information is sure to be key for those thinking about buying a home or investing in property.

• Housing Starts (July 20, 2023): Keep an eye on this one. The US Census Bureau and the Department of Housing and Urban Development are releasing their joint report for June. It gives us a look at the number of new residential projects kicked off this month, giving a good pulse check on the housing market.

• Jobless Claims (July 21, 2023): The Department of Labor are gearing up to publish their weekly report. It's a count of the new filings for unemployment insurance, a consistent benchmark of the labor market's health.

• Existing Home Sales (July 22, 2023): The National Association of Realtors is going to unveil their report for June. It's a nationwide snapshot of the sales and prices of existing single-family homes, another crucial health check for the housing market.

Stay tuned and make informed decisions.

We'll be back next week with more insights to help you grow your dough.

Delicious Bites 😋

• US ‘dominates’ crypto startup funding in Q2

• This wild list of Bank of America fraud fines

• 3 keys for becoming a successful trader & investor

• Welcome to the 2023 HELOC boom

• GBTC volumes surge to yearly high

Food For Thought 🧠

"The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack in will.”
- Vince Lombardi

DISCLAIMER: We are not investment advisors, and this content is for educational purposes only. We don’t offer financial, legal, or tax advice. Nothing we say is a recommendation to buy or sell any assets. Trading and investing are extremely risky, so please be careful and do your own research.