OpenAI's Annual Recurring Revenue Nears $70 Billion

Apple CEO Tim Cook is rolling out company reforms to enable faster, more streamlined operations. Apple (AAPL.O) had originally planned to lay off 5,000 AppleCare staff, but later canceled the plan.

According to Bloomberg, Miami-based fintech firm Jeeves Inc. announced it has raised $110 million from investors to expand its business, including launching a stablecoin wallet, AI agents, and rolling out instant payment services in more countries. The Series C financing round was led by CoinFund, with participation from institutions including AllianceBernstein, Coinbase Ventures, and Andreessen Horowitz (a16z).

The yield on the US 30-year Treasury note climbed to 5.595%, marking its highest level since 2002.

Renowned crypto trader Bonk Guy noted in a post that market sentiment toward PONS may have hit a long-term low. Its comparable project PUMP currently has a market capitalization of around $2.7 billion, up 17% on the day. PONS generates annualized revenue of roughly $156.8 million, with a market cap of $375 million, corresponding to an annualized revenue multiple of approximately 2.39x. For PUMP, annualized revenue stands at $463.6 million, with a market cap of $2.7 billion, translating to an annualized revenue multiple of 5.82x. PUMP is a leading launchpad in the Solana ecosystem, while PONS is the dominant launchpad on Robinhood Chain. If Robinhood Chain sustains a certain level of ecosystem activity moving forward, the gap between PONS’ current valuation and its revenue scale may be worth noting.

The U.S. Commodity Futures Trading Commission (CFTC) is investigating incentive programs for prediction markets and has expressed concerns about misleading promotions related to these markets.

According to The Wall Street Journal, HANetf has launched the world’s first euro-hedged Bitcoin exchange-traded product (ETP), noting that demand from its European client base is shifting. While Bitcoin is a digital currency, it is typically priced in U.S. dollars, which creates additional foreign exchange risks for investors seeking to reduce their dollar exposure. As Bitcoin becomes increasingly integrated into institutional portfolios, some investors may prefer to avoid adding further dollar risk on top of their existing exposures to U.S. dollar-denominated assets like U.S. stocks, U.S. Treasuries, gold, and oil.