FED Minutes: Economic Uncertainty Deepens
The minutes of the FED’s May 6-7 FOMC meeting stated that the federal funds target rate range was kept unchanged at 4.25-4.5%. Participants emphasized that new data, the economic outlook, and the balance of risks would be closely monitored before determining the direction of monetary policy. The minutes noted that the labor market, inflation, and global developments were the primary factors influencing policy decisions. Additionally, it was noted that if economic growth and employment weaken while inflation persists, the FED may face difficult decisions. Option pricing, however, points to a 1-2 rate cut of 25 basis points by year-end.
NVIDIA Reports $44.1 Billion in Revenue for the First Quarter of Fiscal Year 2026
NVIDIA reported revenue of $44.1 billion for the first quarter of fiscal year 2026, which ended on April 27, 2025. This represents a 12% increase from the previous quarter and a 69% increase from the same period last year. Data center revenue reached $39.1 billion, marking a 10% increase quarter-over-quarter and a 73% increase year-over-year. The gaming division reached a record high of $3.8 billion. However, the company suffered a major blow on April 9, 2025, when the US government imposed a license requirement on exports of H20 products to China.
US SEC to Hold Panel on “DeFi and the American Spirit” on June 9
The U.S. Securities and Exchange Commission (SEC) will hold a roundtable discussion titled “DeFi and the American Spirit” on cryptocurrencies. The event on June 9 will be live-streamed and include question-and-answer sessions. SEC Chair, commission members, and crypto advisors, as well as private sector representatives from companies like Jito Labs, Espresso Systems, and Venice AI, will participate.
Musk Announces His Departure from the Trump Administration
Elon Musk has announced that his tenure as a special government employee has come to an end. Musk said he left his position “honorably.” He stated that his contributions to DOGE were rendered meaningless by a major social welfare law and that Tesla misses him. It is reported that shareholders will welcome Musk’s return to Tesla.
Trump’s Son: “Bitcoin Could Surpass $170,000 by the End of 2026”
Speaking at the Bitcoin 2025 conference, Donald Trump Jr. and Eric Trump predicted that the Bitcoin price could surpass $170,000 by the end of 2026. It was reported that Michael Saylor suggested that the Trump family mortgage Mar-a-Lago to invest in Bitcoin. The family plans to establish a $2.5 billion Bitcoin reserve with Truth Social’s parent company, list its mining company on the stock market, and launch a stablecoin through the World Liberty project.
On May 29, Trump shared an image of himself with the PEPE character on Truth Social, adding the caption, “He is on a mission from God; no one can stop what is coming.”
Circle Freezes 58 Million USDC in Solana Wallets Linked to Libra Team
According to Decrypt, Circle froze a total of 58 million USDC in two wallets on the Solana blockchain. These wallets were reportedly linked to the Libra token project. The meme token’s rapid rise in value following its introduction by Argentine President Milei in February, followed by a 90% drop, led to fraud allegations. The freeze was initiated at the request of the Argentine judiciary.
Musk Says No Deal Between xAI and Telegram, TON Price Drops
According to CoinDesk, Telegram founder Durov had stated that Musk wanted to integrate xAI’s artificial intelligence technology into Telegram. However, Musk clarified, “No agreement has been signed.” Following this statement, the TON token price dropped from $3.60 to $3.40.
Pakistan to Establish State-Backed Bitcoin Reserve
Speaking at the “Bitcoin 2025” conference, Bilal Bin Saqib, Chairman of Pakistan’s Cryptography Committee, announced that the country will establish a strategic Bitcoin reserve. This marks a significant shift in Pakistan’s stance toward cryptocurrency. The government has allocated 2,000 megawatts of excess electricity for Bitcoin mining and appointed Binance co-founder Zhao Changpeng as an advisor. A letter of intent was signed with Trump’s WLFI project to establish tokenization and DeFi architecture.
FTX to Distribute Over $5 Billion in Stablecoins to Creditors on May 30
FTX’s bankruptcy administration announced that it will initiate the second payment round on May 30, distributing over $5 billion in stablecoins to creditors. The payment rate will vary between 54% and 120% depending on the type of debt. Payments will be made through BitGo and Kraken within 1-3 business days.
Net Inflow of $433 Million into Bitcoin Spot ETFs
According to SoSoValue data, a total of $433 million in net inflows were recorded into Bitcoin spot ETFs on May 28. The highest inflow of $481 million was into BlackRock’s IBIT ETF. Meanwhile, the ARKB ETF saw a net outflow of $34.29 million.
$84.89 Million in Net Inflows into Ethereum Spot ETFs
Ethereum spot ETFs saw an inflow of 84.8934 million dollars. The largest contribution came from BlackRock’s ETHA ETF with 52.6824 million dollars, while Fidelity’s FETH ETF ranked second with 25.7088 million dollars. ETHA’s total inflow reached 4.485 billion dollars.
by Darkex Research – 1 min read
Click for Market Pulse news articles prepared by the Darkex Research Team.
