News
Stay up to date on the latest crypto trends with our expert, in-depth coverage.
Ethereum’s rally to $4,331 has sparked a tug-of-war among major holders, with some doubling down and others cashing out big gains.
Share link:In this post: Trump’s nomination of Stephen Miran to the Fed board has raised concerns at JPMorgan that it could be part of a push to rewrite the Federal Reserve Act, potentially giving the White House more control over monetary policy. Miran’s 2024 paper calls for sweeping reforms, including presidential power to fire Fed officials, congressional control of the Fed’s budget, and shifting regulatory duties to the Treasury. While major changes face steep hurdles in the Senate, analysts warn the F
Share link:In this post: AI is reshaping U.S. markets, boosting leaders like Nvidia while hurting companies in creative, staffing, and advertising sectors that face rapid automation risks. Bank of America flagged 26 high-risk firms, and stocks like Wix, Shutterstock, and Adobe have sharply underperformed since mid-May. Microsoft, Meta, Alphabet, and Amazon plan to spend about $350B this year on AI infrastructure, widening the gap between market winners and losers.
Share link:In this post: Trump signed an executive order to allow 401(k) plans to include crypto. Employers and plan sponsors must approve before any changes happen. Providers like Fidelity and Vanguard will decide if crypto options are added.
Share link:In this post: Nvidia now makes up about 8% of the S&P 500, the largest share for a single stock since 1981. The U.S. has approved licenses for Nvidia to sell its H20 AI chips to China after reversing an earlier ban. Apple and Alphabet are flagged as overbought, with Apple gaining 13.3% and Alphabet up 6.5% this week.
Share link:In this post: Tesla has applied to Ofgem for a licence to supply electricity to UK homes, with “Tesla Electric” potentially launching next year. The service will link with Tesla cars, Powerwall batteries, and possibly “vehicle-to-home” tech, aiming to cut bills and use stored solar power during peak demand. Despite this push, Tesla faces falling UK and European car sales, stiff EV competition, and reputational challenges linked to Elon Musk.
Pump.fun’s bold Glass Full Foundation and $12M buyback aim to strengthen meme coin cults, yet PUMP struggles to impress investors.
- 20:13S&P 500 Index Sets Record Closing High for Third Consecutive Trading DayAccording to Jinse Finance, the three major U.S. stock indexes closed nearly flat, with the S&P 500 up 0.03%, the Nasdaq down 0.01%, and the Dow Jones down 0.02%. Notably, the S&P 500 set a new all-time closing high for the third consecutive trading day. Most large-cap tech stocks rose, with Intel surging over 7%, Amazon and Netflix up more than 2%, and Microsoft, Nvidia, Google, and Meta posting modest gains. Tesla fell more than 1%, while Apple edged down slightly.
- 19:54Potential Fed Chair Candidate David Zervos Supports Significant Rate CutsAccording to a report by Jinse Finance citing CNBC, David Zervos, Jefferies' Chief Market Strategist and a potential candidate for Federal Reserve Chair, stated that Fed officials should not be alarmed by the higher-than-expected underlying inflation pressures indicated by the July Producer Price Index. Instead, he advocates for the Fed to proactively implement easing measures now to prevent a slowdown in the labor market, which could actually help create over one million jobs. For the past three Fed meetings, Zervos has consistently called for a 0.5 percentage point cut in the federal funds rate, a position he reiterated in a recent interview. "I absolutely still hold the same view. I believe there is a reasonable and very compelling narrative that monetary policy is restrictive. Overall, I see no reason to change this perspective."
- 19:53US-listed company Jeffs' Brands launches crypto asset management program, pledges $75 million allocationForesight News reports that Nasdaq-listed e-commerce company Jeffs' Brands has announced the launch of a cryptocurrency fund management strategy, allocating up to $75 million. This fund will focus on optimizing returns from five major cryptocurrencies, including Bitcoin and stablecoins. The fund will be managed by Quantum Crypto, a subsidiary of Tectona Ltd. Tectona Ltd is a publicly traded Israeli cryptocurrency company that also holds a 41% stake in Horizon, an institutional cryptocurrency trading platform in Israel.