Coinbase Launches Gold and Silver Perpetual Contracts, Supports Up to 25x Leverage

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)

On May 6, Bitcoin mining firm Hut 8’s stock price surged more than 32% after the company signed a $9.8 billion lease agreement for an AI data center campus built around NVIDIA’s computing architecture. This marks the first commercialization phase for Hut 8’s Beacon Point data center campus in Nueces County, Texas. The tenant will use the computing infrastructure to support AI training and “hyperscale inference workloads,” per Hut 8. Hut 8 noted the site was initially planned under a speed-to-power underwriting framework to serve its affiliated customer American Bitcoin Corp (ABTC). However, as power demands accelerated and customer needs expanded, the campus was repositioned as AI infrastructure. Hut 8 has pivoted Beacon Point from its original ABTC-focused commercialization path to deliver an AI data center campus with contracted, investment-grade cash flows—marking the first phase of asset-level value creation for the site. On Monday, Hut 8 also released its Q1 financial report

May 6 — Apple has agreed to a $250 million settlement in a class-action lawsuit alleging the company overhyped unfulfilled AI features in new iPhones. Eligible device owners will receive between $25 and $95 in compensation, depending on the final number of claimants. At issue: Apple’s June 2024 announcement of Apple Intelligence, a feature pitched as a rival to OpenAI’s ChatGPT. Plaintiffs representing iPhone buyers claim the AI tool “did not exist at the time, still does not exist now, will not exist for the next two years or longer, and may never exist.” When the iPhone 16 launched in September 2024, the promised Apple Intelligence was missing — as was the enhanced Siri. Post-launch issues persisted: Apple delayed the upgraded Siri’s release in March 2025 due to quality concerns, and Notification Summary (an Intelligence feature) displayed erroneous news articles, leading Apple to disable it entirely.