Watch Fed Chair Powell speak live on policy at the NABE conference in Philadelphia

Federal Reserve Chair Jerome Powell will address the National Association for Business Economics conference, crucial for insights on interest rates ahead of the Federal Open Market Committee meeting. He’ll discuss balancing full employment with inflation control, as markets anticipate potential rate cuts. Powell’s remarks may significantly influence monetary policy expectations.

When ‘invest like the 1%’ fails: How Yieldstreet’s real estate bets left customers with massive losses

In February 2022, Justin Klish invested $400,000 in Yieldstreet’s real estate projects, lured by its promise to democratize investments. Three years later, he’s faced heavy losses, with Yieldstreet declaring major projects failures. Investors report similar experiences, raising concerns about the company’s transparency and risk disclosures as it shifts business strategies amid market challenges.

Crypto startup Zerohash raises $104 million from Morgan Stanley, SoFi, Apollo and others

Crypto infrastructure startup Zerohash has raised $104 million in a Series D funding round, increasing its valuation to about $1 billion. Led by Interactive Brokers, the funding reflects growing institutional interest in the crypto sector. Zerohash aims to connect traditional finance with blockchain solutions, leveraging partnerships with major financial brands.

JPMorgan Chase says it will invest $10 billion into industries critical for national security

JPMorgan Chase unveiled a 10-year plan to invest up to $10 billion in crucial U.S. sectors, including defense, emerging technologies, and energy innovation. This initiative is part of a broader $1.5 trillion Security and Resiliency Initiative, aimed at enhancing national security and reducing reliance on foreign supply chains, according to CEO Jamie Dimon.

Retaliation or escalation? Trust between the U.S. and China is fading fast, analysts say

The tension between the U.S. and China has escalated, marked by China’s new rare earth export controls and blacklisting of U.S. firms, prompting President Trump to threaten increased tariffs. Analysts highlight mutual distrust as a key issue, noting that misinterpretations of each side’s actions could further complicate negotiations and worsen trade relations.

Wharton’s Jeremy Siegel says it’s ‘scandalous’ the U.S. doesn’t have a rare earths reserve

University of Pennsylvania’s Jeremy Siegel emphasizes the urgent need for a U.S. strategic reserve of rare earth metals, warning against China’s 90% global refining control amid U.S.-China trade tensions. He draws parallels to the 1970s energy crisis and remains optimistic about potential diplomatic resolutions, although market volatility has been significant.

Goldman Sachs agrees to acquire $7 billion VC firm Industry Ventures

Goldman Sachs plans to acquire Industry Ventures, a San Francisco venture capital firm, for $665 million, plus up to $300 million dependent on performance. This move enhances Goldman’s $540 billion alternatives investment platform, integrating Industry Ventures’ expertise to access innovative startups and solidifying its role in the venture capital landscape.

Walmart-backed fintech OnePay is adding wireless plans to its everything app

Walmart’s fintech arm, OnePay, is launching OnePay Wireless, a new mobile plan priced at $35 per month, offering unlimited 5G data, talk, and text. This step toward becoming a full-service “super app” integrates wireless services into its offerings, aiming to enhance affordability and convenience for consumers while emulating successful Asian models.

Yieldstreet tells investors in $89 million worth of marine loans to expect losses

Yieldstreet has reached a $5 million settlement related to failed marine loans, but investors will see little return on their substantial losses. Initially amounting to $89 million, the loans faced default and alleged fraud. Despite restructured strategies and new management, investor confidence has significantly diminished amid ongoing financial setbacks.

NYSE-owner Intercontinental Exchange rises after it takes $2 billion stake in Polymarket

Intercontinental Exchange (ICE) has acquired a $2 billion stake in prediction markets platform Polymarket, boosting its valuation to approximately $8 billion. ICE’s CEO Jeffrey Sprecher highlighted the partnership’s potential in expanding financial markets. This investment reflects the mainstream growth of prediction markets and their increasing legitimacy as an asset class.