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Nasdaq to invest $50 million in Winklevoss-founded crypto exchange Gemini: Reuters

By Abhirup Roy and Akash Sriram SAN FRANCISCO (Reuters) -How can Tesla become an $8.5 trillion company? That’s the market valuation the electric vehicle maker would have to reach to justify CEO Elon Musk’s new pay package announced last week. Selling 100 million humanoid robots in a year could do it; creating a robotaxi network with more than 10 times the revenue of Uber might as well. And of course, investor hope is part of the equation. Musk on Friday was given a decade to expand Tesla’s $1 trillion valuation into a company worth more than the combined current value…

At about $4,363, Ethereum (ETH) is once again trading in a critical area. There are indications that Ethereum might be preparing for another leg higher, possibly toward the $5,000 mark in September, even though price action has cooled off from the July rally’s explosive surge.These three factors could lead the second-biggest cryptocurrency to make that move:Solid technical base: At $4,164, ETH has successfully defended the 50-day EMA, making it a dynamic support level. Notwithstanding the general market uncertainty, consolidation above $4,000 indicates that buyers are defending the base. The path toward retesting the $4,600-$4,800 resistance becomes very likely if ETH…

It’s a trap I see investors fall into all the time: pouncing on yields that are so high as to be, frankly, absurd. Case in point: the 89% (not a typo!) yielder we’re going to talk about today. I get where the temptation of a payout like that comes from. Inflation is sticking around. The job market? Precarious, to say the least, with AI replacing humans at an accelerating pace. Another disappointing jobs report, released on Friday, sure doesn’t help here, either. At a time like this, an 89% annualized payout sounds like a dream, especially if you’re looking to…

Opensea unveiled the Flagship Collection, a curated non‑fungible token (NFT) reserve backed by a commitment of more than $1 million to acquire, preserve and showcase digital art and cultural works deemed historically significant for the NFT ecosystem. The marketplace said the program will operate as a “living museum,” with acquisitions selected by an internal committee […]

US stock exchange giant Nasdaq has reportedly formed a strategic partnership with Winklevoss-founded crypto exchange Gemini to gain access to its custody and staking services.Gemini has secured Nasdaq as a strategic investor as the company moves forward with its initial public offering (IPO) debut on the stock exchange, Reuters reported on Tuesday, citing sources familiar with the matter.The crypto exchange expects to raise up to $317 million through the IPO and has arranged for Nasdaq to purchase $50 million in shares via a private placement concurrent with the offering, the sources said.The investment is part of a strategic partnership that…

Nebius Group (NBIS) shares soared 47% in pre-market trading after the company said it signed an agreement to supply Microsoft (MSFT) with graphic processing units (GPUs) in a deal Reuters valued at $17.4 billion over five years.The contract is worth more than the Amsterdam-based company’s entire market capitalization, currently $15.29 billion. According to Reuters, Microsoft may increase the contract value to $19.4 billion by acquiring additional services capacity.Shares of other companies involved in artificial intelligence (AI) computing, also advanced. Cipher Mining (CIFR) and IREN (IREN) both climbed 9% on speculation of further AI infrastructure partnerships, echoing similar moves seen earlier…