Criminal Trial for Former SafeMoon CEO Underway Over Alleged Crypto Scam

The acquisition of Deribit by Coinbase was announced without disclosing the deal's value, but executives later revealed it to be $2.9 billion, including cash and stock. This breaking news story was reported by The Wall Street Journal and edited by Stacy Elliott.

ING predicts the Federal Reserve may implement aggressive interest rate cuts in the future due to uncertainties in the economic outlook. Chairman Jerome Powell's comments on increased risks of higher unemployment and inflation indicate a potential delay in rate cuts. The Fed's cautious approach is likely influenced by concerns over trade wars and supply disruptions impacting inflation.

Superstate, led by Robert Leshner, is launching Opening Bell, a platform for companies to issue SEC-registered public shares directly on blockchains. SOL Strategies, a Canadian firm, will be the first to list its shares on Solana this summer, aiming to tap into the future of Internet capital markets.

Sweat, a fitness app rewarding users with SWEAT tokens for walking, is introducing Mia, an AI agent powered by Near Protocol's Near AI infrastructure. Mia aims to simplify user experience and manage crypto rewards as the platform expands to multiple chains.

Fidji Simo, CEO of Instacart, has been appointed to lead OpenAI's Applications division as CEO Sam Altman shifts focus to research and safety. The move marks a restructuring of OpenAI's leadership as it accelerates efforts toward artificial general intelligence (AGI).

The Group of Seven countries are planning to address and mitigate North Korea's long history of engaging in crypto hacks and malicious cyber activities. Investigations have shown that stolen funds from the crypto industry have been used to support North Korea's development of weapons of mass destruction. The summit, hosted by Canadian Prime Minister Mark Carney, will bring together leaders from the world's seven most advanced economies.

Bitcoin surged above $99,000, nearing its all-time high, following Trump's hint at a trade deal with the UK. The crypto asset rose 2.6% after Trump's announcement on Truth Social, with the market eyeing $100,000.

Stripe unveiled new features at its annual event, including Stablecoin Financial Accounts for businesses in 101 countries and an AI system to detect fraud and improve authorization rates. CEO Patrick Collison highlighted the importance of AI and stablecoins in reshaping the economic landscape.

The HTTP 402 payment status code, dormant since the early internet days, has been revived by Coinbase's x402 protocol, offering a native payment layer for the web. This open-source protocol allows users to make payments without complex processes, supporting various blockchains.

DeFi Development Corp. plans to implement a 7-for-1 stock split on May 20, increasing outstanding shares from 2 million to over 14 million. The company's pivot to the Solana blockchain ecosystem has led to a significant surge in its share price.