Data center developer Switch has initiated fundraising talks, aiming for a valuation of over $50 billion.

According to Lookonchain monitoring, the trader who previously legally withdrew 4.426 trillion BONK tokens (valued at roughly $21.2 million) from the BONK vault has deposited the remaining 2.4 trillion BONK tokens (worth approximately $6.94 million) into Coinbase. The trader had earlier withdrawn a large volume of tokens from the BONK vault through legal channels, a move that drew market attention. The specific purpose behind the token transfer to Coinbase remains unclear, and the market will closely monitor whether this could lead to potential selling pressure.

Palantir CEO Alex Karp recently stated that artificial intelligence (AI) could unlock massive wealth growth opportunities, but gains from the technology will be highly concentrated among a small group of tech and capital owners, further widening global wealth inequality. In an interview with the MDMeets podcast, Karp noted that AI will improve living standards for the general public, but those involved in developing and controlling AI technology could see wealth growth far outpace that of ordinary workers. He projected that AI could even multiply his own wealth roughly 20 times, pushing his net worth close to $300 billion. Karp’s current personal fortune stands at around $15 billion, driven largely by Palantir’s recent growth in AI and the company’s rising valuation. He added that middle-class incomes could double over the next decade, citing an example of a $70,000 annual salary rising to $140,000, but this would pale in comparison to the hundreds of billions in wealth gains for AI’s top beneficiaries. “There could be a total disconnect between wealth and ordinary prosperity,” Karp said, warning that AI-driven wealth concentration will become a social issue. Karp is no AI skeptic; he is a major beneficiary of the AI industry. Palantir currently has a market cap of around $322 billion, with core business areas including AI platforms, data analytics, and AI applications for government and corporate clients. In recent years, multiple tech and finance leaders have voiced similar concerns. BlackRock CEO Larry Fink noted that early AI gains are flowing primarily to owners of models, data, and infrastructure; the so-called “godfather of AI” Geoffrey Hinton has warned that the wealthy could use AI to replace labor, leading to higher unemployment and further profit concentration.

According to Bitget market data, US and Brent crude oil prices rose by over $1 in the short term, currently standing at $81.98 per barrel and $86.80 per barrel respectively. On the news front, the Houthi armed forces stated that they will impose a maritime navigation ban on Saudi Arabia starting Monday.

According to HTX market data, Bitcoin has rebounded to break through the $65,000 mark, with a 0.90% increase in the past 24 hours.

Strategy did not purchase Bitcoin last week, and its U.S. dollar reserves rose to approximately $3.23 billion (an increase of about $225 million).

According to Bitget market data, spot gold rallied $20 in the short term, currently trading at $4,039.58 per ounce. Both U.S. WTI and Brent crude oil fell by over $1 in the short term: WTI crude oil broke below $81 per barrel, down 1.69% on the day, while Brent crude oil dropped 1.00% on the day, currently at $85.33 per barrel. On the news front, a senior Iranian source stated that mediators have proposed a 10-day pause in strikes to explore ways to revive the temporary agreement between Iran and the U.S.