A Whale Buys 1.415 Billion PEPE Tokens, Worth $2.05 Million

On Thursday, May 16th, U.S. stocks closed. The Dow initially rose by 0.65%, the S&P 500 rose by 0.4%, and the Nasdaq Composite Index fell by 0.18%. Both Apple (AAPL.O) and Nvidia (NVDA.O) declined by approximately 0.5%. Coinbase (COIN.O) dropped by more than 7%, and Strategy fell by over 4%.

On May 16th, as reported by WSJ, sources with knowledge of the matter stated that Meta Platforms (META.O) will postpone the launch of its flagship AI model. This has sparked internal concerns regarding the direction of its multi-billion-dollar AI investment. Sources indicated that engineers are working diligently to enhance the performance of a large language model named "Behemoth." Employees are questioning whether the extent of these improvements is sufficient to support a public release. The model, which was originally scheduled to make its debut at Meta's first AI Developer Conference in April, was later postponed to June and is now further delayed until the fall or beyond. Despite Meta's previous recognition for quickly closing the gap with competitors like OpenAI and its commitment of $72 billion to fulfill Zuckerberg's AI ambitions, the "Behemoth" training setback has led to underwhelming performance. The executive team is dissatisfied with the Llama 4 development group and is c

On May 16th. The United States' White House announced that during President Trump's visit to the UAE, he finalized a $200 billion cooperation agreement. This agreement includes projects in the field of artificial intelligence and will boost the technological ambitions of this Gulf country. As the White House stated in a statement on Thursday, "These agreements will significantly expand US investment and market access in the UAE." This announcement is part of Trump's third and final stop during his Middle East tour. Earlier this week, he announced a $600 billion investment plan with Saudi Arabia and a $243 billion cooperation agreement with Qatar. The commercial deal outcomes have become the central focus of Trump's first overseas trip since returning to the White House. The new agreements on Thursday further strengthened the UAE's commitment. Back in March of this year, after Trump's meeting with the UAE's National Security Advisor Sheikh Tahnoun bin Zayed Al Nahyan, the UAE planned

On May 16th, Powell of the Federal Reserve stated that the U.S. economy is stable. However, he cautioned that tariff-related supply chain disruptions could decelerate economic growth and raise inflation. Powell underscored the significance of small businesses and their function within the supply chain and the overall economy. He mentioned that trade policy has cast a shadow on the outlook, intensifying uncertainty. For small businesses, potential supply chain disruptions are "especially severe," partly due to their limited access to credit. He further added that small businesses often provide specialized inputs that are not readily obtainable elsewhere, and business closures could further disrupt the supply chain. (FXStreet)

On May 16th, the stock price of Coinbase experienced a decline of 8.11%. Previously, market reports suggested that hackers have been able to gain access to Coinbase customer data since January of this year. It is expected that potential data leaks could lead to losses of up to $400 million. Furthermore, according to four sources with knowledge of the matter, the U.S. SEC is currently investigating whether Coinbase has exaggerated its user numbers in previous disclosure filings. This investigation, which was initiated during the Biden administration, is still ongoing from the previous Trump era. The previously unreported investigation focuses on Coinbase's claims in securities filings and marketing materials that it has more than 100 million "verified users."

On May 16th, as per a SEC filing, the Wisconsin Investment Board has liquidated its holdings in the Bitcoin ETF. It was previously noted that they had invested $321 million in the Bitcoin ETF.