💳Elon Musk launches payment and banking service X Money.
👨💼CZ criticized the EU over MISA, saying the refusal to grant Binance a license effectively cuts European users off from the world's best liquidity.
🚀Crypto cards have become one of the most vibrant use cases for crypto – weekly transaction volumes have already exceeded $200,000,000 and have been growing almost nonstop since 2023.
🐳Analyst: The number of large crypto investors has plummeted to a six-year low. This isn't about retail cryptocurrencies, but venture capitalists and large investors.
💸ETH, XRP, and DOGE are leading a massive sell-off in cryptocurrencies amid a slump in tech stocks.
📊Tether has surpassed Ethereum in market capitalization.
🪙Sharplink Returns to Ethereum Purchases After Eight Months
👨💻Analysts Warn of Weak Bitcoin Buying Demand
🪖The Pentagon Expands the Role of AI in Military Strategy
🇪🇺Binance Informs EU Users It Will No Longer Provide Services After Failed to Obtain an MISA License
Multicoin predicts $HYPE will soar more than 400% to $319 by 2028, arguing that the market is seriously undervaluing Hyperliquid as it evolves into a general-purpose exchange.
The cost of AI infrastructure is no longer just a tech company's concern. It's beginning to impact consumers.
Apple has raised prices on several MacBook and iPad models after a sharp rise in the cost of memory chips. Meanwhile, Microsoft announced price increases for Xbox consoles, citing the same reason.
$1.1 trillion vanished from the US market in the first 30 minutes, but $930 billion returned in the next 40 minutes.
The S&P 500 index jumped 0.83% at the open, adding $560 billion.
It then plunged -1.27% in just 30 minutes, wiping out $860 billion. It has now recovered $680 billion, up 1% from its bottom.
The Nasdaq index experienced even more dramatic swings.
It opened up 0.94%, adding $333 billion, but then plunged -2.29% in 30 minutes, wiping out $820 billion. Since then, $420 billion has returned, up 1.22% from its low.
Meanwhile, the Dow Jones and Russell 2000 indices have reached new all-time highs.
The Dow is up 1.50% today, adding $340 billion, while the Russell 2000 is up 1.44%, adding $40 billion.
Tech stocks are experiencing sharp fluctuations as investors become increasingly nervous about lofty valuations in AI and semiconductor stocks, especially with the Fed signaling more rate hikes rather than cuts.
Higher rates hit growth stocks the hardest, as their value depends on future earnings, which are more heavily discounted by rising borrowing costs.
This is driving money out of the tech sector and into the Dow, where defensive, non-tech companies with stable earnings and dividends appear safer in this environment.