Trump Does Not Need Congressional Approval to Continue Military Action Against Iran
May 5th — Per a CCTV report, U.S. Defense Secretary Pete Hegseth stated on May 5th that the current Trump administration has determined the U.S.-Iran ceasefire remains in effect, so President Trump does not require congressional approval to continue military operations.
Hegseth noted that should Trump order a resumption of military strikes, discussions on the issue will naturally occur at that time.
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The impact of the Middle East war on demand has intensified, causing a significant slowdown in U.S. service sector growth
On May 5, S&P Global Market Intelligence’s chief business economist Chris Williamson noted: “U.S. business activity resumed growth in April after a slight March dip, but momentum has slowed sharply since the start of the year.”
Survey data points to U.S. GDP growing at a modest ~1% annualized rate. Growth is set to weaken further: the service sector reported a drop in new business inflows for the first time in two years, signaling the Middle East conflict’s growing impact on demand. The conflict’s direct effects are most visible in services, where higher prices have cut discretionary spending (e.g., holidays, entertainment). High fuel costs and travel disruptions have also held back transport activity.
That said, weaker financial services demand ties to growing market uncertainty, and also reflects expectations of higher inflation and rate impacts on real estate and credit. Input cost inflation keeps rising, fuel prices are up, goods and services prices are broadly increasing, an
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Dragonfly partner comments on Coinbase Layoffs: Could Save $225 Million in Costs
On May 5, Dragonfly partner Omar commented on Coinbase’s ~14% workforce reduction (roughly 700 employees), noting the move aims to cut annual salary costs by ~$225 million and steer the company toward an “AI-first” organizational restructuring.
He noted AI has drastically transformed production processes, with engineering efficiency surging—enabling non-technical teams to contribute to production-level code development and automating most workflows.
Drawing on internal insights, Omar stated Coinbase is reconfiguring itself into an “AI-centric organization with human coordination at the edge” while pushing for flatter management (compressed to fewer than 5 layers), eliminating purely managerial roles, and prioritizing hires of AI-native talent capable of managing large-scale AI agents to boost output efficiency.
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Yield.xyz and Privy Launch Controlled AI Yield Aggregator, Introducing "Controlled Execution" Mechanism to Enhance Security
On May 5, DeFi revenue infrastructure platform Yield.xyz announced the launch of an AI-powered revenue agent infrastructure in partnership with Privy—Stripe’s crypto wallet infrastructure arm.
This infrastructure supports automated strategy execution across 80+ blockchains and 2900+ DeFi revenue opportunities, and introduces a “verifiable execution” mechanism to enhance security.
The solution offers two layers of control:
1. Every transaction is constrained by user-defined policies (including limits, allowed chains, contract whitelists, etc.);
2. An optional manual approval step ensures critical operations are human-confirmed.
The system supports two modes:
- Full Automation Mode: AI autonomously executes revenue operations within pre-set policy boundaries
- Semi-Automation Mode: All transactions require manual approval before execution
Technically, Yield.xyz provides revenue discovery and transaction construction capabilities, while Privy handles wallet creation, k
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Intel has surged 190% year-to-date, with a total market capitalization of $535.1 billion.
As of May 5, Bitget market data shows Intel’s stock price climbed 11.16% to $106.47 per share, with a total market cap of $535.1 billion. Its year-to-date (YTD) gain is nearly 190%.
News update: Apple is weighing a new chip outsourcing partner and has held initial talks with Intel and Samsung.
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Apple Considers Introducing a New Chip Manufacturing Partner, Initiates Early Discussions with Intel and Samsung
May 5 — Apple is weighing a shift away from its longstanding reliance on a single chip foundry, amid tight capacity for advanced manufacturing processes and a surge in AI demand. The company has held initial talks with Intel and Samsung Electronics to explore new chip manufacturing sources, but no firm orders have been placed yet.
Reports indicate Apple is assessing Intel’s foundry capabilities while also reviewing Samsung’s advanced wafer fabrication plant under construction in Texas. Still, the company remains cautious about non-TSMC technology ecosystems, creating uncertainties around potential partnerships.
Supply chain constraints are the core driver of this shift. Apple CEO Tim Cook noted that chip shortages for iPhones and Macs have limited the company’s growth, with bottlenecks concentrated primarily on the advanced process nodes used in its system-on-chips (SoCs).
As demand for AI computing power and terminal-side AI devices rises simultaneously, supplies of products
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