The United States Securities and Exchange Commission (SEC) approved spot Ether exchange-traded funds (ETFs) on May 23, but the approval process differed slightly from the approval of spot Bitcoin ETFs in January.
Its stock’s rally comes after the company reported blowout quarterly earnings Wednesday afternoon, highlighted by a more than 600% annual increase in profits. The third-most valuable company in the world, Nvidia added $220 billion in market value on Thursday, growing to a $2.6 trillion market capitalization.
China’s efforts to bolster economic growth by reducing the allure of bank deposits has driven a record exodus from cash, with a big proportion of that going into bonds and wealth management products.
📈 Market Data
🚨 Important News This Week
AI
Alphabet, Meta Offer Millions to Partner With Hollywood on AI
Meta AI to take on ChatGPT Plus by working on its own paid AI assistant
Nvidia is cutting AI chip prices in China to keep up with Huawei
Tech
SpaceX Weighs Plan to Sell Shares at $200 Billion Valuation
Tesla Omits Goal to Make 20 Million Cars by 2030 From Report
Alibaba to Raise $4.5 Billion Through Convertible Bonds to Fund Buybacks
Business
iPhone users eligible for $349 in lawsuit settlement payout over audio issues
Wall Street is about to see its biggest trading change in years
Ace Hardware, America’s neighborhood hardware store for 100 years, is beating its big-box rivals
Crypto
SEC Sets the Stage For the Launch of Spot Ether ETFs
Binance Money Laundering Trial in Nigeria Pushed to June 20 Due to Executive’s Illness
JPMorgan expects spot Ethereum ETFs to begin trading ‘well-ahead of November’
🚨 Notable Companies Secure Impressive Investments
Farcaster has raised $150M in latest fundraising round led by Paradigm
Kelp DAO has raised $9M in a Private Sale round co-led by SCB Limited and Laser Digital
WeatherXM has raised $7.7M in a Series A funding round led by Lightspeed Faction
Stripchain has raised $10M in a funding round led by Sora Ventures
LeverFi [LEVER] has raised $10M for OmniZK Developers Fund
Plume Network has raised $10M in a Seed funding round led by Haun Ventures
Fantom Foundation [FTM] closed a $10M strategic funding round to support the Sonic Foundation
Cysic has raised $12M in a Pre-A funding round co-led by HashKey Capital and OKX Ventures
