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Welcome to this edition of The Daily LEO! We pull the best articles in Finances, Crypto news and Hive/Leo into one condensed information packed space. 


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**[Investment giant Brookfield is shuttering its $1 billion multi-strategy hedge fund](https://www.businessinsider.com/brookfield-shuts-down-its-multi-strategy-hedge-fund-bhs-advisors-2023-7)**


BHS Advisors, a multi-strategy hedge fund platform within the $825 billion conglomerate, is winding down after four years, according to people familiar with the matter. It had 66 employees — including 38 investment professionals — and [managed $1.3 billion in assets, according to a March securities filing.](https://www.businessinsider.com/brookfield-shuts-down-its-multi-strategy-hedge-fund-bhs-advisors-2023-7)




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**[How Long Can U.S. Consumers’ Spending Spree Continue?](https://www.investopedia.com/consumer-spending-spree-continues-7567937)**


As the chart below shows, consumer spending on goods surged in 2020 even after adjusting for high inflation, while spending on services has rebounded although not yet to its pre-pandemic trend. [Just how sustainable is that surge in spending though?](https://www.investopedia.com/consumer-spending-spree-continues-7567937)


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**[CVS Health Plans To Ax 5,000 Jobs In "Once-In-A-Generation Transformation"](https://www.zerohedge.com/markets/cvs-health-plans-ax-5000-jobs-once-generation-transformation)**


The first half of 2023 was euphoric, stocks roared to near-record highs, talks about a 'hard landing' dissipated, hype about 'Bidenomics' sparked new hopes about economic revival, and consumers splurged on travel. But the second half might be a different story as the [signs of companies continuing to reduce costs indicate dangers lurk ahead.](https://www.zerohedge.com/markets/cvs-health-plans-ax-5000-jobs-once-generation-transformation)




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**[FTX​ releases restructuring plan, hints at rebooted offshore exchange](https://cointelegraph.com/news/ftx-releases-restructuring-plan-offshore-exchange-reboot-planned)**
FTX has outlined its intended reorganization plan, which will categorize claimants of the bankrupt exchange into specific classes and pave the way for the exchange to become operational as an offshore entity.

Dockets filed on July 31 include a draft plan of reorganization that outlines the company’s [intended path to settle an “exceptionally large and complicated collection of claims.”](https://cointelegraph.com/news/ftx-releases-restructuring-plan-offshore-exchange-reboot-planned)


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**[DeFi Platform Term Finance Brings Fixed Rate Lending to Ethereum](https://www.coindesk.com/business/2023/08/01/defi-platform-term-finance-brings-fixed-rate-lending-to-ethereum/)**

Aave and Compound are sort of "DeFi banks," Chu said, with a kind of "ultimate liquidity." Meanwhile, Term Finance operates more like certificates of deposits, where users agree not to withdraw for a specified length of time. “They’re both kind of necessary primitives in DeFi. So Aave and Compound can always play the role of being a DeFi [bank, and we hope to fill this role of short term, fixed rate liquidity,” he added.](https://www.coindesk.com/business/2023/08/01/defi-platform-term-finance-brings-fixed-rate-lending-to-ethereum/)


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**[Binance reenters Japanese market with new platform, debuts BNB trading](https://cryptoslate.com/binance-reenters-japanese-market-with-new-platform-debuts-bnb-trading/)**

Embattled crypto exchange Binance’s Japanese subsidiary launched a dedicated platform to onboard new customers in the Asian country, according to an Aug. 1 press statement.

The exchange stated that existing Japanese users of its Binance global platform [would be able to access the new platform by Aug. 14.](https://cryptoslate.com/binance-reenters-japanese-market-with-new-platform-debuts-bnb-trading/)


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**[Opening the Leo Everything App to All of Hive | Long-Form and Communities Now Support All Content](https://leofinance.io/@leofinance/afnqvvne)**
Introducing the jaw-dropping longform layout that's about to change the way you experience Hive and LEO forever!

Join us in this clip from the AMA as we unveil the badass new features that will leave you [wondering how you ever managed without them.](https://leofinance.io/@leofinance/afnqvvne)
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**LeoFinance** is a blockchain-based social media platform for Crypto & Finance content creators. Our [tokenized app](https://leofinance.io) allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.


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<sub>This edition of **The Daily Leo** was published by @bitcoinflood on [Leo Finance](https://leofinance.io), read the original article [here](https://leofinance.io/posts/bitcoinflood/the-real-inflation-number-eth-new-record) </sub>

Posted Using [LeoFinance Alpha](https://leofinance.io/@bitcoinflood/ftx-restructuring-plan-fixed-rate-lending-on-ethereum)

Posted Using [LeoFinance Alpha](https://leofinance.io/@bitcoinflood/ftx-restructuring-plan-fixed-rate-lending-on-ethereum)