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XRP Falls Below $1 For First Time Since 2024

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XRP Falls Below $1 For First Time Since 2024


XRP Falls Below $1 For First Time Since 2024

XRP (CRYPTO: $XRP) has fallen below its widely-watched $1 U.S. level to $0.98 U.S., its lowest price since November 2024.

The slide comes as Ripple, the payments company closely associated with XRP, announced its third Korean partnership of the year, with Jeonbuk Bank.

Going forward, Jeonbuk Bank will offer Ripple payments for cross-border transfers.

More From Cryptoprowl:

That followed custody and wallet infrastructure deals with Kyobo Life Insurance and Kbank in Korea earlier this year. 

However, a growing number of Ripple partnerships does not appear to be helping XRP’s price. 

XRP has steadily declined amidst the “crypto winter” that has gripped the market for digital assets since October 2025. 

XRP had traded above $3 U.S. a year ago but has drifted lower in recent months, falling below $1 U.S. on Aug. 18.

There are signs that Wall Street sees a recovery in XRP’s price on the horizon. Professional traders appear to be betting that the price will rise in coming weeks and months.

Futures markets show $2.78 billion U.S. worth of options contracts on XRP, with bets that the price will rise outpacing bets that it will fall by about three-to-one.

XRP is designed to make global money transfers fast and cheap. Transactions on the XRP Ledger typically settle in less than five seconds and cost less than a penny to execute.



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Founders Aren’t Treating Recovery Like a Luxury. It’s a KPI.

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Founders Aren’t Treating Recovery Like a Luxury. It’s a KPI.


Opinions expressed by Entrepreneur contributors are their own.

I’ve been tracking this shift for a while, but it didn’t fully click until I was lying inside a 700-pound, NASA-inspired recovery chamber, wired up to electromagnetic pulses, vibroacoustic sound running through the bed to relax my nervous system and red and near-infrared light glowing over my closed eyes to support cellular recovery and circulation. All of this synced to a calm guided meditation and breathwork sequence.

That’s the Ammortal Chamber, the centerpiece of the Recovery Suite at The Santa Monica Proper and other wellness centers across the country. It costs roughly $160,000 to install, and the same machine sits in the training rooms of the NFL’s LA Rams, Denver Broncos and MLB’s Boston Red Sox, and in the recovery suite at Wimbledon to support athlete performance and recovery. At Santa Monica Proper, members are sandwiching a session between a business meeting and a dinner reservation, on a random Tuesday, not a training camp.

I spent a few days living the membership: bloodwork drawn on-site through Hundred Health, a four-handed Ayurvedic massage at the hotel’s Surya Spa, a session in the Hyperion recovery suite, a soak in a mineral bath, and a cold plunge set several degrees warmer than the punishing extremes my hard-core biohacker friends brag about. The experience did not feel like a spa day. It felt much more like infrastructure; the kind I, as a founder and entrepreneur, would love to have wherever I land, work, and unwind

The social wellness club, a category I’ve been watching mature for years, is finally standing in for the bar, the boardroom, and the country club, funded by entrepreneurs who treat recovery like a KPI, not a perk. 

The bar isn’t the default anymore

For most of the last century, “let’s grab a drink” was the default unit of business and social connection. That default is breaking down, and the data is unambiguous. Gallup’s 2025 consumption survey found just 54% of U.S. adults say they drink alcohol at all — the lowest rate in nearly 90 years of tracking, down from 62% just two years earlier. For the first time, a majority of Americans, 53%, now say even one or two drinks a day is bad for their health. Among Gen Z, nearly two in three plan to drink less this year, and almost 40% are going fully dry, not just for “Dry January,” but year-round, according to Circana’s most recent consumer survey.

That shift creates a real estate problem: if the bar isn’t the place anymore, where does business happen? Dr. Jonathan Leary, founder of Remedy Place, the club widely credited with coining the term ‘social wellness club’ when it opened in West Hollywood in 2019, and now with locations in Los Angeles, New York, and Boston, built his entire business on that gap.

“Life is stressful, loneliness is prevalent, and people need to connect, but most social experiences are filled with temptation and toxins,” Leary said of the concept. His model swapped the cocktail bar for an adaptogenic mocktail bar and the conference room for an infrared sauna. Same social function. Different chemistry.

John Mackey, the Whole Foods co-founder, made a similar bet with Love.Life, a 45,000-square-foot longevity club in Los Angeles that pairs functional medicine with over 25 diagnostic tests alongside pickleball courts, hyperbaric oxygen chambers, and a plant-forward cafe built by his own Whole Foods team. Membership tiers run from $400 a month to $28,500 a year for functional precision medical care. The pitch is nearly identical to Remedy Place’s, aimed at a different demographic: healthcare and community, under one roof, minus the fragmentation of seeing six specialists in six different buildings. I’ve spent enough time there to say it delivers on that promise. The staff and the community feel like family, not clientele, and it’s become one of my go-to venues for hosting events and clients precisely because it doesn’t feel like a rental space. It feels like somewhere people already want to be.

Social wellness clubs are a growing category, and operators are competing for the same founder and creator dollar. Proper Hospitality did something smarter: instead of building a standalone club, they built the club into a hotel.

Santa Monica Proper: the hotel that doubles as your third place

The Proper Club, which launched at Santa Monica Proper in April of 2025, is explicit about the audience it’s chasing: not just LA locals looking for a new Soho House alternative, but the business traveler who is in town for three nights and does not want their recovery routine – or their social life – to suffer because they left home. Membership runs about $6,500 per year, with add-ons for the Surya Spa and for personalized performance optimization. Members have access to the pool workspaces, private lounges with saunas, cold plunges, red light therapy, daily fitness classes, discounted room rates, and two complimentary nights per year at any Proper property. They also enjoy around 10 events a month, ranging from panels and private concerts to padel tournaments.

You still get the version of the hotel you’d expect from a Kelly Wearstler-designed property, including a bar pouring craft cocktails, an exquisite rooftop pool and farm-to-table restaurants built on local, sustainable ingredients. What stands out at Proper is that most wellness clubs ask you to trade the glamour of high-end hospitality for the discipline of recovery. Proper doesn’t make you choose. Instead, recovery is woven into the same thoughtfully designed spaces where guests dine, gather, work, and unwind.

“We didn’t want wellness to feel like an add-on to what we’d already built, and we didn’t want to turn our hotels into wellness retreats,” said Brad Korzen, CEO and Co-Founder of Proper Hospitality. “We wanted it to be part of the experience, approached with the same design-focused and intentional point of view as everything else we do.”

I felt like a queen the moment I walked into the Recovery Suite, Proper’s newest and most impressive lounge yet. Beyond the Ammortal Chamber, there’s the Hyperion suite for shorter, modular recovery sessions; a mineral bath; a Theralight 360 red-light bed; a dry sauna; compression boots; and a cold plunge. That last one is where I noticed something most cold-plunge marketing ignores entirely: temperature isn’t one-size-fits-all, and it shouldn’t be.

My friend and leading exercise physiologist, Dr. Stacy Sims, has built a career on the phrase “women are not small men,” and the physiology backs her up. A controlled cold-water immersion study found women experience greater cardiovascular strain and a higher frequency of cold-induced vasodilation reactions than men under identical conditions, and separate research on hormonal cycling shows women’s core temperature and stress response shift meaningfully across the follicular and luteal phases, meaning the same 40-degree plunge that energizes a man, or a woman on day seven of her cycle, can just as easily spike cortisol and blunt recovery on day twenty-one. Clubs that offer a range of plunge temperatures, rather than a single macho benchmark, are catching up on this science.

Then there’s the medical layer, and it’s where the protocol actually lives. Hundred Health, the longevity platform members can access through the club, ran my labs on-site: 100-plus lab tests, synced against wearables like Oura and Whoop, cross-referenced with medical history pulled from more than 450 electronic health record systems. It then builds all of it into a clinician-reviewed 100-day protocol covering nutrition, supplements, exercise, and lifestyle. The 100-day window is intentional and I followed it carefully.

As Hundred’s founder, Tyler Smith, has put it, “the company was built around cycles, long enough to drive physiological change, short enough to feel achievable, every 100 days, you retest, and the protocol updates against your actual numbers instead of a generic template.” It’s the same logic a founder applies to a quarterly OKR or planning cycle, just pointed at a body instead of a business.

Why this is a business story, not a lifestyle story

The Global Wellness Institute values the global wellness real estate sector at $876 billion, on pace to more than double to $1.8 trillion by 2030. That’s 23.5% annual growth since 2019, the fastest-growing segment inside a $6.8 trillion global wellness economy. GWI put it bluntly for 2026: ‘Healthspan is no longer adjacent to real estate.’ For hospitality groups, that line reads less like a trend and more like a roadmap.

For founders, it’s more simple than that. This generation grew up on Whoop scores and continuous glucose monitors, so biometric data was never new to them. What’s new is the willingness to pay for it: membership fees, hotel stays, whole calendars built around systems that act on the data instead of just collecting it. Recovery is no longer the reward. It’s the metric.

A $160,000 recovery chamber. A spa built around internationally recognized Ayurvedic doctor, Martha Soffer. A fully-integrated bloodwork platform. Wrap all of it in a membership instead of a day pass, and you get a hotel betting on you, not just housing you. I’ve covered this space long enough to know the hype when I see it. This was not that. I left Santa Monica Proper with a lab report and a protocol.

The next generation of high performers isn’t picking a hotel for thread count. They’re picking it the way they’d pick a business partner. The real question isn’t whether your next hotel has a gym. It’s whether it’s built to make you better without sacrificing the luxury, location and architectural aesthetics.

I’ve been tracking this shift for a while, but it didn’t fully click until I was lying inside a 700-pound, NASA-inspired recovery chamber, wired up to electromagnetic pulses, vibroacoustic sound running through the bed to relax my nervous system and red and near-infrared light glowing over my closed eyes to support cellular recovery and circulation. All of this synced to a calm guided meditation and breathwork sequence.

That’s the Ammortal Chamber, the centerpiece of the Recovery Suite at The Santa Monica Proper and other wellness centers across the country. It costs roughly $160,000 to install, and the same machine sits in the training rooms of the NFL’s LA Rams, Denver Broncos and MLB’s Boston Red Sox, and in the recovery suite at Wimbledon to support athlete performance and recovery. At Santa Monica Proper, members are sandwiching a session between a business meeting and a dinner reservation, on a random Tuesday, not a training camp.

I spent a few days living the membership: bloodwork drawn on-site through Hundred Health, a four-handed Ayurvedic massage at the hotel’s Surya Spa, a session in the Hyperion recovery suite, a soak in a mineral bath, and a cold plunge set several degrees warmer than the punishing extremes my hard-core biohacker friends brag about. The experience did not feel like a spa day. It felt much more like infrastructure; the kind I, as a founder and entrepreneur, would love to have wherever I land, work, and unwind



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Mortgage and refinance interest rates today, Wednesday, August 19, 2026: Surprisingly calm amid bond market volatility

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Mortgage and refinance interest rates today, Wednesday, August 19, 2026: Surprisingly calm amid bond market volatility


The 30-year fixed mortgage rate stepped slightly higher, while both the 15-year and 5/1 ARM rates eased lower today, according to the Zillow lender marketplace. Rates have been surprisingly calm so far this week, considering recent bond market volatility.

The average 30-year fixed rate is 6.55% today, Wednesday, August 19, 2026, up two basis points since yesterday. The 15-year fixed loan is currently at 5.87%, seven basis points lower than yesterday. The 5/1 ARM is 6.31%, eight basis points lower than on Tuesday.

Read more: Weekly survey of mortgage lenders with the lowest rates: Small moves in rates and fees

Here are the current mortgage rates, according to our latest Zillow data, for Wednesday, August 19, 2026:

  • 30-year fixed: 6.55%

  • 20-year fixed: 6.40%

  • 15-year fixed: 5.87%

  • 5/1 ARM: 6.31%

  • 7/1 ARM: 6.30%

  • 30-year VA: 6.01%

  • 15-year VA: 5.60%

  • 5/1 VA: 5.82%

Remember that these are the national averages and are rounded to the nearest hundredth.

These are the current mortgage refinance rates, according to the latest Zillow data for Wednesday, August 19, 2026:

  • 30-year fixed: 6.58%

  • 20-year fixed: 6.33%

  • 15-year fixed: 5.96%

  • 5/1 ARM: 6.49%

  • 7/1 ARM: 6.43%

  • 30-year VA: 6.11%

  • 15-year VA: 5.76%

  • 5/1 VA: 5.89%

Again, the numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that’s not always the case.

Use the mortgage calculator below to see how various interest rates and loan amounts will affect your monthly payments. It also shows how the term length plays into things.

Mortgage payment calculator

Mortgage payment breakdown

81% Principal & interest

$2,154




You can bookmark the Yahoo Finance mortgage payment calculator and keep it handy for future use, as you shop for homes and the best lenders. You even have the option to enter costs for private mortgage insurance (PMI) and homeowners’ association dues if those apply to you. These details result in a more accurate monthly payment estimate than if you simply calculated your mortgage principal and interest.

There are two main advantages to a 30-year fixed mortgage: Your payments are lower, and your monthly payments are predictable.

A 30-year fixed-rate mortgage has relatively low monthly payments because you’re spreading your repayment out over a longer period of time than with, say, a 15-year mortgage. Your payments are predictable because, unlike with an adjustable-rate mortgage (ARM), your rate isn’t going to change from year to year. Most years, the only things that might affect your monthly payment are any changes to your homeowners insurance or property taxes.

The main disadvantage of 30-year fixed mortgage rates is the mortgage interest, both in the short and long term.

A 30-year fixed-term loan comes with a higher interest rate than a shorter-term fixed-rate loan. You’ll also pay much more in interest over the life of your loan due to both the higher rate and the longer term.

The pros and cons of 15-year fixed mortgage rates are essentially the same as those of 30-year rates. Yes, your monthly payments will remain predictable, and another advantage is that shorter terms come with lower interest rates. Not to mention, you’ll pay off your mortgage 15 years sooner. So you could save hundreds of thousands of dollars in interest over the life of your loan.

However, because you’re paying off the same amount in half the time, your monthly payments will be higher than if you choose a 30-year term.

Learn more: Should you get a 15-year or a 30-year mortgage?

Adjustable-rate mortgages lock in your rate for a predetermined period, then adjust it periodically. For example, with a 5/1 ARM, your rate stays the same for the first five years and then goes up or down once per year for the remaining 25 years.

The main advantage is that the introductory rate is usually lower than what you’ll get with a 30-year fixed rate, so your monthly payments will be lower. However, rates can vary, so talk to your lender before deciding between a fixed or adjustable rate.

With an ARM, you have no idea what mortgage rates will be like once the intro-rate period ends, so you risk your rate increasing later. This could ultimately end up costing more, and your monthly payments are unpredictable from year to year.

But if you plan to move before the intro-rate period is over, you could reap the benefits of a low rate without risking a rate increase down the road.

Keep reading: Learn more about the differences between adjustable-rate and fixed-rate mortgages

The national average 30-year mortgage rate is 6.55% right now, according to data compiled from the Zillow lender marketplace. But keep in mind that averages can vary depending on where you live. For example, mortgage rates vary by state, and if you’re buying in a city with a high cost of living, rates could be higher. 

Only 15-year fixed and 5/1 ARM rates dropped today. The average 30-year fixed rate today, Wednesday, August 19, 2026, is 6.55%, up two basis points since yesterday. The 15-year fixed loan is currently at 5.87%, seven basis points lower than yesterday. The 5/1 ARM is 6.31%, eight basis points lower than on Tuesday.

In many ways, securing a low mortgage refinance rate is similar to when you bought your home. Try to improve your credit score and lower your debt-to-income ratio (DTI). Refinancing into a shorter term will also land you a lower rate, though your monthly mortgage payments will be higher.



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Bitcoin demand deficit shrinks from 206K to 5K BTC – Is a rally next?

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Bitcoin demand deficit shrinks from 206K to 5K BTC – Is a rally next?


Bitcoin’s [BTC] demand has improved considerably since July. This was when Apparent Demand fell to roughly -206,000 BTC.

Since then, the deficit has narrowed toward -5,000 BTC, bringing the 30-day measure close to neutral territory. That shift suggests improving market optimism as the 30-day measure approaches neutral territory.

The improvement showed that buying pressure was returning after weak Spot Demand had limited Bitcoin’s previous recoveries.

Source: CryptoQuant

Historically, positive demand transitions delivered a median 18.1% return over the following 60 days. Positive returns followed in 78% of cases, while 87% of transitions occurred during depressed valuation environments.

Still, historical performance does not guarantee or determine the current outcome. Instead, demand must cross zero and maintain positive readings to confirm stronger spot participation.

Ultimately, if demand continues to improve, this will be a strong indication that the overall recovery structure of Bitcoin will continue to improve. If demand contracts again, this will indicate that buyers have not successfully demonstrated a new longer-term trend.

Bitcoin spot and futures demand align

Bitcoin’s demand recovery is now extending beyond spot activity. This comes after perpetual futures demand also returned above zero.

Despite that upside, this shift diverges from April and May, when futures demand strengthened while spot demand remained negative.

Bitcoin then rose to 82k from 70k. However, it fell back after a collapse in Futures Demand turned negative at the beginning of June.

This latest crossover shows both markets are showing demand and no longer just pure leverage behind the upward movement.

Source: CryptoQuant

However, both metrics remained close to zero, leaving the improvement vulnerable to another reversal. Therefore, maintaining the trend matters more than the crossover itself.

If Spot Demand turns positive while Futures Demand remains controlled, Bitcoin could receive broader support than during its previous recovery.

Bitcoin draws conviction buyers

Bitcoin’s improving demand picture is also visible in who has been accumulating through the decline. Supporting this trend, conviction buyers expanded their share as Bitcoin retreated from above $120,000 toward the $60,000–$70,000 range, according to Glassnode data.

Their largest increase appeared around January’s drop toward $60,000, while momentum buyers reduced their share sharply. In fact, a similar trend occurred during the fall of 2022 when conviction ownership rose again as less committed participants’ activities decreased.

Source: Glassnode

This matters because persistent buyers absorb supply during periods when price momentum offers little support. However, the cohort shift alone does not establish a market bottom.

Instead, continued accumulation would show that stronger holders are steadily taking supply from more price-sensitive investors as broader Bitcoin demand returns.


Final Summary

  • Bitcoin [BTC] demand is nearing positive territory as spot and futures participation improve together.
  • Bitcoin conviction buyers are accumulating as broader demand improves.



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The Treasury Department just pushed down long-term US bond yields. That could make Kevin Warsh’s job harder.

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The Treasury Department just pushed down long-term US bond yields. That could make Kevin Warsh's job harder.


Treasury Secretary Scott Bessent took action Wednesday to lower long-term government bond yields, a move that complicates Federal Reserve Chairman Kevin Warsh’s job and may even force him to act more aggressively to raise interest rates.

US government bond yields are skidding after the Treasury said it would “at least double” the amount of 10-year, 20-year and 30-year Treasury bonds it buys back. The operation will begin on Sept. 9 and remain effective through Nov. 4.

The move comes after the 30-year Treasury yield hit its highest level in 19 years earlier this week, amid investors’ concerns over higher fiscal deficits, heavy AI borrowing, and higher inflation that has pushed up borrowing costs globally.

That has implications for the central bank. During his press conference on July 29, Warsh repeatedly pointed to bond yields that had shot materially higher, suggesting that the Fed welcomed the higher yields as a way to raise borrowing costs and tighten policy through markets, rather than the Fed having to raise short-term rates itself. The Fed raises or lowers its short-term interest rate to influence other bond yields, which in turn dictate borrowing costs for consumers and businesses.

“Chairman Warsh is in a very uncomfortable position,” Wilmington Trust senior bond portfolio manager Wil Stith told Yahoo Finance in an interview on Wednesday following Treasury’s announcement. “The market was leaving with this notion that we don’t necessarily have to see a hike in the Fed funds rate because the longer end of the bond market is doing the work for the Fed.

“Well, now we have the Secretary of the Treasury sort of rolling that back.”

Stith noted that the determining factor for the Fed will be where inflation heads from here. If inflation stays flat or rises, the Fed will be forced to raise interest rates more aggressively to counteract the expansionary impact of the Treasury’s actions to push down yields. That could force the Fed to raise rates rather than leave them unchanged.

“We have the Fed and the Treasury basically working in sort of opposite directions,” said Stith. “I think that’s just going to require the Fed, which has the larger sandbox, to sort of adjust the target Fed funds rate more so than it would have.”

Joe Brusuelas, chief economist at RSM, also said the Treasury’s actions make Warsh’s job of bringing inflation back down to 2% much more difficult. Warsh strongly prefers letting the market price interest rates naturally without government interference, he noted. Up until now, investors had been doing exactly that — repricing long-term debt and demanding a higher yield to hold US bonds.





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Ethena wallet transfers 170M ENA – Will $0.09 remain out of reach?

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Ethena wallet transfers 170M ENA - Will $0.09 remain out of reach?


An Ethena [ENA]-linked wallet transferred 170 million ENA, worth around $14.09 million, to FalconX during the most recent tracked whale activity. The tokens had been deposited originally in the wallet from Ethena’s Gnosis Safe, further boosting the team’s distribution narrative.

Importantly, the FalconX destination did not confirm the direct sale of exchanges but brought up the issue of potential sale concerns with OTC. Still, the transfer introduced a sizeable supply factor while ENA struggled to extend its broader recovery.

On the charts, ENA price recently rallied off the $0.0900 level before buyers tried to move higher again from the lower levels. Thus, the potential distribution came in as the demand was under an important test around the ascending structure.

Spot inflows deepen the supply challenge

Another supply-side worry was the exchange spot activity, with ENA seeing about $375.51K in positive netflows as of press time. These positive Spot Netflows indicated that more tokens entered exchanges than exited during the measured period.

Notably, the latest inflow contrasted with the persistent negative readings visible across recent sessions. Those earlier outflows had repeatedly reduced exchange-side supply, potentially supporting ENA’s attempts to stabilize.

However, the $375.51K positive reading turned the immediate momentum back to the supply of exchange liquidity. The change coincided with the 170 million ENA transfer associated with Ethena.

Source: CoinGlass

Buyers defend the rising structure again

Despite those supply concerns, Ethena attempted a recovery after buyers defended its ascending support structure. After touching the rising trendline and horizontal resistance at $0.0817, the price reversed back towards $0.0842.

The defense preserved the higher support trajectory established from the July lows near $0.0700. On the indicator side, the RSI had risen to 47.26 at press time, from a previous decline below its neutral level.

The indicator, however, remained below its 50.34 moving average, leaving incomplete buying strength despite the recovery. Still, its upward shift aligned with renewed price demand rather than a continued downtrend.

The $0.0900 resistance level, which rejected ENA earlier in August, posed a key barrier for a recovery. Before hitting this level, buyers needed to maintain control above $0.0817 and the ascending trendline support.

Ultimately, a sustained recovery would strengthen the existing structure, while renewed selling pressure could expose ENA to the $0.0768 support level. 

ENA price actionENA price action
Source: TradingView

Liquidity could pull ENA toward $0.087

Derivatives positioning added another dimension as liquidation liquidity concentrated heavily above ENA’s recent trading range. 

The Liquidation Heatmap showed significant concentration around the $0.085 area, with increased liquidity pushing towards around the $0.087 area. These concentrations created potential upside attraction should recovering demand continue pushing ENA beyond nearby resistance. 

Specifically, liquidity near the $0.085 zone represented the first meaningful test above the rebound around $0.0842. A stronger cluster around $0.0865–$0.087 could amplify price movement once buyers clear the nearer liquidity zone.

Source: CoinGlass

  For now, the recovering demand retains a chance to absorb returning supply and target $0.085–$0.087 liquidity. However, continued flows would create a distribution pressure, which would further weaken the ascending structure.


Final Summary

  • ENA defended ascending support as recovering demand kept the broader rebound structure intact.
  • Fresh inflows and team-linked transfers could challenge buyers before ENA hits overhead liquidity.

 



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From Pennsylvania to Ohio to Texas, the governors’ races are all coming down to data centers

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From Pennsylvania to Ohio to Texas, the governors' races are all coming down to data centers

More governors are shifting their stances or taking more steps to squeeze data centers as the midterm elections near and public opinion sours on the energy-hungry behemoths that tech giants and developers are building to fuel artificial intelligence products and cloud computing.

The backlash to the massive server warehouses is enveloping races for governor in some of the nation’s biggest states and presidential battlegrounds.

On Tuesday, Pennsylvania Gov. Josh Shapiro, a Democrat, said his administration would no longer put data center projects at the head of the line when it comes to issuing construction permits or granting developers a lucrative tax exemption if they don’t meet certain standards.

Those include plans to pay the full cost of their electricity and show how they will use advanced technology to limit water use. They also must first win local approval before they can seek state approval. They are, he said, the “strictest guardrails in the nation,” although he stopped short of imposing a moratorium on issuing permits.

Shapiro, considered a potential contender for the White House in 2028, is facing increasing pressure from his GOP opponent, Stacy Garrity, as communities across the state revolt against proposed data centers.

At a news conference, Shapiro slammed what he called “predatory developers” trying to bully local officials and ram through dozens of projects in Pennsylvania — his administration said it counted reports of more than 100 — that likely will never be built because they don’t have the financing, power supply or tech-sector clients to use the space.

“These speculators are nevertheless scaring our communities, being aggressive with township officials, bullying our neighbors, our fellow Pennsylvanians, and refusing to listen to the people,” Shapiro said. “And they are threatening to fundamentally change the character of our communities.”

In particular, he singled out developers aiming to build six campuses of about 50 server warehouses in tiny Archbald Borough that has spawned a community uprising, a lawsuit by one developer and motions by another to force the recusal of six of the town’s seven council members.

In a statement, Garrity said Shapiro “lit the fuse on the chaos we are seeing in community after community.”

Meanwhile, in Texas, Democratic challenger Gina Hinojosa released a TV ad in rural markets Tuesday accusing Republican Gov. Greg Abbott of “selling you out” to data center executives and companies.

The ad airs as Hinojosa, a state lawmaker, has aggressively looked to exploit an undercurrent of discontent in rural, Republican strongholds over data centers’ perceived threat to rural life, ranchland and dwindling water supplies.

Challengers are capitalizing on growing discontent

At one time, both Shapiro and Abbott had been cheerleaders for data centers and actively sought to recruit them, with Shapiro appearing with Amazon officials to announce a $20 billion investment in Pennsylvania, and Abbott, likewise, appearing with Google execs to announce its $40 billion investment in Texas.

But in recent weeks, Abbott ordered regulators to take steps to ensure Texans were not paying higher electricity bills because of data centers, even telling them to hold up data center projects until they complete their work.

He also promised to push a legislative agenda next year to impose regulations on data centers, including taking away the state’s billion-dollar-plus-per-year tax break.

For much of the past year, a growing number of data center projects have met rejection in local zoning or permitting board votes across the U.S., as angry residents pack once-sleepy municipal meetings.

Losing open space, farmland, forest or rural character is a big concern. So is the damage to quality of life, property values or health by on-site diesel generators kicking on or the constant hum of servers. Others worry that wells and aquifers could run dry or electricity bills will skyrocket.

Small, under-the-radar data centers have been around for decades. But the explosion of artificial intelligence chatbots has given rise to data centers that are larger than anything just about any town has ever seen. Some of them dwarf football stadiums and factories and use more energy than small cities.

States trying to tighten the screws on data centers

In some states, governors and lawmakers are trying to force data centers to pay for their own electricity supply, limit their water use, disclose more about their operations and do more to win community support. They are also chafing at the rising tab for the sales tax exemption most states offer data centers.

In Arizona, Democratic Gov. Katie Hobbs, who is seeking reelection, got lawmakers to agree to slap a three-year moratorium on the state’s sales tax exemption for data centers. Hobbs, who had voted to create the tax credits when she was a legislator, called it a “corporate handout.”

New York Gov. Kathy Hochul, a Democrat seeking reelection, ordered a one-year ban on large data centers to give the state time to impose protections for the environment and its energy grid.

Shapiro isn’t the only potential 2028 White House hopeful to step up his criticism of data centers. Illinois Gov. JB Pritzker, a Democrat running for a third term, halted new sales tax exemptions for data centers there until lawmakers impose tougher standards on their operations.

In Ohio, the Democratic and Republican nominees for governor — Dr. Amy Acton and Vivek Ramaswamy — in recent days each unveiled dueling data center policies that called for developers to meet tougher standards before being built.

Data center opposition isn’t necessarily a golden ticket

In Wisconsin, the Democratic nominee for governor, David Crowley, narrowly defeated a challenger who made her call for a one-year moratorium on data center construction a centerpiece of her campaign.

Crowley has taken a more nuanced approach, saying local communities must have veto authority, while also saying data centers are a part of the modern economy and could bring significant economic benefits to the state.

His Republican opponent, U.S. Rep. Tom Tiffany, has attacked Crowley on the issue, including a TV ad released this week where he calls him “Data Center David Crowley.”

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Associated Press writers Scott Bauer in Madison, Wisconsin, and J.J. Cooper in Phoenix contributed to this report.



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