U.S. Senator: If Powell Is Fired by Trump, It Will Trigger a Market Collapse

May 24 — Base Ecosystem AI Builder Nick Prince shared today that he used his AI tool, agentic.market, to produce a SpaceX Investment Memorandum uncovering unreported financial details about the aerospace firm. Key takeaways from the memo: SpaceX’s listed long-term debt is $29.1 billion, but Prince says the actual figure is around $42 billion — including a $20 billion SpaceX Bridging Loan due in September 2027, which was used to fund the xAI acquisition. The company also has three major outstanding commitments, including a $19.6 billion EchoStar Spectrum Commitment and the Cursor (Anysphere) Option Agreement, among others. In SpaceX’s 2025 financial statements, the management team artificially inflated Adjusted EBITDA by approximately $9 billion, Prince alleges, by improperly deducting depreciation, equity incentives, and segment-specific projects. The entire memo took only 12 minutes to create and cost just $1.87, paid via the x402 protocol. For background: agentic.market is a publ

May 24: U.S. media outlet AXIOS has revealed details of the upcoming U.S.-Iran agreement. The deal will include a 60-day ceasefire extension, during which the Strait of Hormuz will reopen. Iran will be allowed to sell oil freely and enter into negotiations regarding limits on its nuclear program. The U.S. will lift its blockade on Iranian ports and grant certain sanctions waivers to enable Iran’s unimpeded oil sales. Additionally, the draft memorandum of understanding (MoU) includes Iran’s commitment to never pursue nuclear weapons. Iran has verbally signaled to the U.S. via intermediaries its willingness to make concessions on suspending uranium enrichment. It is important to note that the exposed details have not yet been confirmed by Iranian officials.

May 24 – Sources familiar with the matter told Iran’s Tasnim News Agency that a report by Saudi Arabian television alleging Iran proposed a 10-year suspension of uranium enrichment above the 3.6% threshold is fundamentally incorrect.

May 24 – Video game and collectibles retailer GameStop (GME) filed documents with the SEC seeking shareholder approval to raise its authorized common stock from 1 billion to 2.5 billion shares. The company says the increase will provide it with greater financial flexibility. This share hike is one of five proposals that will be voted on at GameStop’s annual shareholders’ meeting in July. Notably, the move could also give the retailer more leverage to pursue its previously rejected acquisition bid for eBay.

South Korea is set to roll out its first batch of single-stock leveraged ETFs next week (as of May 24th), tied to chipmakers Samsung Electronics and SK Hynix, with an aim to deliver twice the daily returns of their underlying stocks. Analysts expect strong demand for these products from South Korea’s more than 14 million retail investors. However, against a backdrop where the KOSPI index has posted intra-day swings of up to 5%, this investor enthusiasm could further amplify market volatility. The CEO of Singapore-based Fibonacci Asset Management stated, “These ETFs will exacerbate existing concentration risk, creating a structural challenge for long-term investors amid persistently high index volatility that makes navigating the Korean market difficult.” Yoon Jaehong, an analyst at Daewoo Future Asset, projects net inflows into the Samsung Electronics and SK Hynix-linked leveraged ETFs (scheduled to launch at the end of May) could reach as high as 5.3 trillion Korean won. He also

On May 24, Iran’s Deputy Foreign Minister stated, “We seek peace backed by strength, diplomacy upheld with dignity, and we will defend our territory.” (Source: Al Jazeera)