The University of Michigan's final May consumer sentiment index fell to a record low of 44.8, signaling deep pessimism among Americans despite the stock market's strong performance with the S&P 500 up 9% year-to-date. Inflation expectations rose, with one-year inflation hitting the highest level since the early 1980s, while geopolitical tensions in the Middle East are also weighing on confidence. Meanwhile, retail sales and personal income remain high, showing a disconnect as consumers continue spending but with a declining savings rate. This gap suggests a K-shaped economic recovery where wealthier consumers fuel markets while others feel financial pressure, raising concerns about future spending and market stability.
Veea Inc. has announced the commercial release of VeeaONE, a full-stack AI infrastructure platform that integrates edge-to-cloud hardware and software. The platform supports VeeaWare middleware on NVIDIA Jetson and x86/Arm servers, enabling secure, l...
Virtuals Protocol has introduced customizable tokenized indexes on the Robinhood Chain, allowing users to combine multiple assets into a single token. This innovation enables users to create and manage their own asset baskets and earn fees when other...
US spot Bitcoin ETFs saw net inflows of $107.8 million on Wednesday, while Ethereum ETFs attracted $53.8 million, signaling renewed institutional interest in crypto funds. Since their launch in January 2024, Bitcoin ETFs have accumulated over $51 bil...
Kaia has signed a strategic partnership with Xilo Labs to integrate Mochi, an onchain asset management platform, into Kaia's ecosystem. This collaboration allows users to invest stablecoins into diversified portfolios backed by tokenized real-world a...
Bitcoin's price surged to nearly $65,000 following softer-than-expected U.S. inflation data for June, easing fears of Federal Reserve rate hikes. However, on-chain data reveals two main groups of investors—long-term holders who bought near last year'...
