News

Binance has launched SpaceX pre-IPO perpetual futures contracts, becoming the first major crypto exchange to offer derivatives tied to SpaceX’s pre-public market valuation. The move comes as SpaceX filed for its IPO this week under the ticker “SPCX,” with valuations reaching as high as $2 trillion. The perpetual contracts allow traders to gain exposure to SpaceX’s valuation before shares begin trading on public markets. Binance said the product settles against private market valuation data, enabling users to go long or short without holding actual equity. Elon Musk stands to become the world’s first trillionaire if the IPO succeeds. ...

Colorado Democrats have formally censured Governor Jared Polis over his decision to commute the sentence of Tina Peters, a former county elections official. Peters was convicted for her role in a 2021 voting machine data breach in Mesa County, Colorado. Polis’s commutation sparked a fierce backlash within the Democratic Party, with the state party passing a formal censure resolution. The incident highlights divisions within the party over election security and judicial matters at the state level. ...

UK trading platform IG Europe has partnered with crypto platform Bitpanda to offer cryptocurrency trading to its EU clients. “Our clients want crypto exposure from a platform they trust. This partnership delivers it,” said IG Europe’s Managing Director. The move reflects growing traditional finance adoption of crypto services. Bitpanda, headquartered in Austria, is one of Europe’s leading crypto service providers with regulatory licenses across multiple EU member states.

Samsung Electronics has suspended a planned strike while union members vote on a tentative agreement. The walkout was set to begin Thursday. The core dispute centers on demands for workers to share in profits from Samsung’s booming AI chip business, alongside base pay increases. Samsung is the world’s largest memory chip maker, with AI-related product demand surging over the past year. Union leaders argue that employee compensation has not kept pace with the company’s AI success. If the vote rejects the tentative deal, strikes could resume at any time, potentially disrupting Samsung’s global semiconductor production. ...

After four years of Russia’s full-scale invasion, Ukraine has made significant advances in air defense, deploying a combination of AI technology and interceptor systems to counter drone attacks. Ukrainian military officials say their air defense has evolved from reactive measures to a multi-layered integrated system. AI is being used for target identification and threat assessment, improving interception rates. Analysts note that Ukraine’s drone defense experience is reshaping global air defense strategies, with multiple nations studying tactical data accumulated during the conflict. ...

US payrolls rose more than expected in April, though the pace of hiring showed signs of deceleration compared to previous months. The April jobs report added complexity to the Federal Reserve’s interest rate outlook. While the labor market remains resilient, the moderation in hiring growth could influence the Fed’s policy decisions in coming months. Economists noted that the report suggests a labor market that is cooling but not collapsing, a scenario often described as a “soft landing” for the economy. ...

European Central Bank President Christine Lagarde has warned that Europe should not simply replicate the US approach to stablecoins when developing a digital euro. Lagarde cautioned that large stablecoins such as Tether and USDC, which now dominate a $310 billion market, pose potential financial stability risks. She argued that these assets could transmit shocks across the financial system if not properly regulated. The ECB President emphasized that Europe’s approach to digital currency should prioritize financial stability and regulatory oversight, rather than following the more laissez-faire model that has developed in the United States. ...

Kraken Parent Company Payward Has Applied for an OCC Charter Payward, the parent company of cryptocurrency exchange Kraken, has filed an application with the Office of the Comptroller of the Currency (OCC) to become a federally regulated trust company. This would add a federal banking charter to Kraken’s existing Wyoming state bank charter and Federal Reserve master account access. The move represents a significant step in crypto industry regulatory engagement, as Kraken seeks to operate under federal banking oversight. The OCC charter would allow the company to offer trust services and potentially expand its banking operations under federal supervision. ...

NASA Jet Propulsion Laboratory engineers have achieved a significant breakthrough in rotor blade technology for next-generation Mars helicopters. The advancement could enable more ambitious rotorcraft missions on Mars and other planetary bodies with atmospheres. The new rotor design addresses key engineering challenges identified during the Ingenuity helicopter missions, including improved performance in thin atmospheric conditions. This technology development paves the way for future Mars exploration missions that could use helicopters for aerial reconnaissance and scientific sampling across wider areas than rovers can cover. ...

UK Prime Minister Keir Starmer has said he will not resign despite heavy losses for the Labour Party in local elections, with Reform UK making significant gains. The local election results dealt a blow to Labour’s standing, with Reform UK capitalizing on voter dissatisfaction. Despite the losses, Starmer insisted he remains committed to leading the government and delivering on Labour’s agenda. The results have intensified pressure on Starmer’s leadership, with critics calling for a change in direction. However, the Prime Minister maintained that the government would continue its work regardless of the election setbacks. ...