Author: GT

Bitcoin surged past $88,000 on Monday before settling around $86,800, marking its highest price since late March. The jump followed a sharp drop in the U.S. dollar, which hit a three-year low amid rising concerns over political interference in the Federal Reserve. Over the past 24 hours, data from CoinGlass showed more than $97 million in Bitcoin short positions were liquidated. Total liquidations across all cryptocurrencies approached $180 million, with Ethereum shorts accounting for over $26 million. The dollar’s decline came after President Donald Trump intensified his criticism of Federal Reserve Chair Jerome Powell. Trump wrote on Truth Social that…

Flipkart, the Walmart-owned Indian e-commerce startup that closely fights Amazon in the South Asian market, is preparing to shift its headquarters back to India from Singapore as the company prepares to file for an IPO on Indian stock exchanges. On Monday, Flipkart said the move “represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy.” The e-commerce giant, which started its operations in 2007 in Bengaluru, moved its headquarters to Singapore in 2011 to attract more foreign investments, benefit from tax advantages, and better navigate bureaucratic hurdles and political challenges in…

Bitcoin’s recent surge, briefly surpassing $87,700, follows a weakening U.S. dollar and speculation around upcoming Treasury buybacks. Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, predicted this could be the “last chance” to buy Bitcoin for less than $100,000, as the U.S. Treasury repurchasing its own debt may inject more liquidity into the market. Hayes referred to these buybacks as a “bazooka” for Bitcoin’s price, which could push it well past the $100,000 barrier. The rise in Bitcoin’s price has also been supported by macroeconomic conditions, including the weakening U.S. dollar, which reached its lowest point since March 2022.…

On Sunday, 21-year-old Chungin “Roy” Lee announced he’s raised $5.3 million in seed funding from Abstract Ventures and Susa Ventures for his startup, Cluely, that offers an AI tool to “cheat on everything.” The startup was born after Lee posted in a viral X thread that he was suspended by Columbia University after he and his co-founder developed a tool to cheat on job interviews for software engineers. That tool, originally called Interview Coder, is now part of their San Francisco-based startup Cluely. It offers its users the chance to “cheat” on things like exams, sales calls, and job interviews…

Cryptocurrency companies in the U.S. are moving towards becoming more integrated with traditional finance by seeking banking licenses and preparing for potential stablecoin regulations. Circle and BitGo are among the firms working on applications for U.S. bank charters. Coinbase and Paxos are reportedly exploring similar steps. These efforts come as Congress debates new laws that would impose stricter rules on stablecoin issuers, aiming to regulate how these dollar-pegged digital tokens are managed. BitGo is applying for a full banking charter, which would allow it to offer services such as deposits and loans. The company is also involved with USD1, a…

Aidan Gomez, the co-founder and CEO of generative AI startup Cohere, has joined the board of EV maker Rivian, according to a regulatory filing. The appointment is the latest sign that Rivian sees promises in applying AI to its own venture while positioning itself as a software leader — and even provider — within the automotive industry. Rivian increased the size of the board and elected Gomez, whose term will expire in 2026, according to the filing. Gomez has had a long career as a data scientist and AI expert. He launched Cohere in 2019 with co-founders Nick Frosst and…

Bitcoin and the rest of the crypto market surged at the start of this week as President Trump engaged in a Ethereum and Dogecoin have both gained 3% within the past 24 hours. “Bitcoin’s move above $87,000 is a clear signal that investors are seeking refuge in decentralized assets amid rising tariffs, inflation concerns, and global economic uncertainty,” Nicholas Roberts-Huntley, CEO of crypto companies Concrete and Glow Finance, tells Fortune. The crypto market’s gains come amid Trump’s threats to fire Federal Reserve Chair Jerome Powell for not lowering interest rates as quickly as he would like. The feud has raised…

Meta is using AI technology to search for kids who are lying about their age on Instagram in order to bypass safeguards, the company announced on Monday. When Meta finds an account that it suspects belongs to a teen, the platform will enroll them into a restricted Teen Account, even if the account lists an adult birthday. Teen Accounts, which launched on Instagram last year, enroll young users into an app experience with built-in protections. The safeguards are applied to teens automatically, and limit who can contact a teen on the app and restrict the type of content the account…

Bitcoin made winning headlines after Trump’s election win, only to end the first quarter of 2025 in the red. From the start of 2025, Bitcoin registered a shakiness, weighed down by speculation that the Fed may have limited scope for further interest rate cuts. In early March, there was an executive order by Donald Trump to establish a strategic Bitcoin reserve for the United States. The reserve will be funded using Bitcoin seized in criminal and civil forfeiture cases, with no plans for the U.S. government to purchase additional Bitcoin at this time. Investors found the move underwhelming. The recent…

The countdown is real! Exhibit tables for TechCrunch Sessions: AI are almost gone, and the May 9 deadline is closing in fast. If you’ve been meaning to showcase your AI innovation, this is your last window to make it happen. No more “maybe next year.” No more waiting for the perfect moment. This is it! Book your exhibit table here. On June 5, the AI world converges at UC Berkeley’s Zellerbach Hall — and if your product, platform, or prototype deserves attention, it needs to be there too. More than 1,200 AI decision-makers, investors, engineers, and founders will walk the…