Federal Reserve's Mester: There is a reasonable scenario that suggests that the interest rate needs to remain stable for a period of time

On May 6, renowned startup accelerator Y Combinator (YC) announced it will host in-person interviews for the first time in New York City, focusing on fintech and cryptocurrency startups as it aims to support more companies in the space. In a Wednesday statement, YC noted: “This marks the first time YC has taken a specific industry’s interview process offline in this way, as we engage with founders building key ecosystem infrastructure.” A YC spokesperson confirmed the interviews will take place in New York City on May 21. For selected startups, YC’s standard investment terms are $500,000 in exchange for a 7% stake. Earlier this year, following YC’s rollout of the option, startups may also choose to receive funding in Circle’s stablecoin USDC. YC’s Winter 2026 batch already includes several crypto and fintech firms: financial infrastructure platform Sponge Wallet, crypto onramp provider Unifold, unified trading platform Sequence Markets (supporting crypto, real-world assets, an

On May 6, London-based AI recruitment platform Ethos announced it has closed a $22.75 million Series A funding round, led by Andreessen Horowitz (a16z) with participation from General Catalyst. Ethos leverages AI to interview candidates and analyze their academic papers, code, and other professional materials to build detailed skills profiles. The platform then connects experts with paid opportunities—including expert consultations, market research, AI data labeling, advisory services, and full-time roles. “Resumes can’t truly reflect a person’s abilities,” said James Lo, Ethos co-founder and CEO. “In an AI-transformed economy, Ethos aims to help individuals showcase their full professional capabilities while enabling companies to more accurately identify the talent they actually need.” The startup targets two core pain points: widespread fake or AI-generated resumes, and the challenge of verifying candidates’ real skills.

May 6 – The National Integrated Circuit Industry Investment Fund is in talks to lead DeepSeek’s first-round financing, with the final valuation expected to reach around $45 billion, multiple authoritative sources confirmed. Insiders noted the two sides are indeed in discussions but emphasized the valuation has not been finalized yet. They also revealed other potential investors are participating in the negotiations, including several internet giants and additional state-owned funds. All involved investment institutions are keeping a low profile currently. For major financing deals involving top firms, all parties typically exercise greater caution, and details won’t be made public until the matter is finalized. The final list of investors for this round remains undetermined, according to the Shanghai Securities News.

May 6th — Coinbase Chief Legal Officer Paul Grewal said he’s “very confident” the **CLARITY Act** will pass before summer’s end and voiced support for the Tillis-Alsobrooks stablecoin reward compromise, sending a clear message to the banking industry: accept the deal. Grewal backs the compromise proposed by Sens. Thom Tillis and Angela Alsobrooks, noting the updated bill is a viable middle ground that preserves key functions for Coinbase’s stablecoin business and the broader financial market. Coinbase CEO Brian Armstrong and the crypto exchange publicly opposed early versions of the bill in January, arguing banking lobbying groups had co-opted it. After negotiations and regulatory meetings, Armstrong’s stance shifted — by early April, he openly supported the revised bill, saying, “It’s time to pass the CLARITY Act.” Grewal emphasized Armstrong has been consistent: protecting stablecoin rewards was a red line, and the Tillis-Alsobrooks compromise upholds that line. Responding t

May 6 — U.S. President Trump said he believes the U.S. is near a deal with Iran. He added he is unlikely to send Wietckovf and Kushner to take part in the talks. (PBS)

May 6, U.S. President Donald Trump said, "The Iran War is very likely to end. After the war, oil prices could plummet quickly, or they might not — no one knows. If a deal with Iran isn’t reached, we’ll return to the old path." (FXStreet)