📈Bitcoin Hits $111K For First Time

☀️Good morning. It's Thursday, May. 22, and we're covering, Bitcoin Hits $111K for First Time, Eyes Set on $120K, Lenovo Reports 64% Profit Drop Despite Beating Revenue Estimates, Jony Ive Joins OpenAI After $6.5B Acquisition Of His AI Device Startup, Pentagon Accepts Qatari 'Flying Palace' To use As Air Force One For Trump and much more. First time reading? Sign up to get this newsletter: Sign up here. 

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $3.48 Trillion, a 3.22% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $192.88B, which makes a 54.32% increase.

• The total volume in Defi is currently $43.14B, 22.37% of the total crypto market 24-hours.

• The volume of all stablecoins is now $182.55B, which is 94.62% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 63.19%, an increase of 0.18% over the day.

Bitcoin Hits $111K for First Time, Eyes Set on $120K

Bitcoin hit a record high of $111,878 on Thursday, up over 3.3%, buoyed by growing corporate demand, a favorable Senate stablecoin bill, and a surprise shift in stance from JPMorgan CEO Jamie Dimon. Michael Saylor’s latest $765M Bitcoin purchase and growing use in corporate treasuries are strengthening the asset’s role as a digital reserve. Technical analysts see $120,000 as the next upside target, but warn of a rising wedge pattern — a signal that a reversal may be brewing. Key support levels sit at $107K, $100K, and $92K. (Read Deeper)

BUSINESS & FINANCE

Lenovo Reports 64% Profit Drop Despite Beating Revenue Estimates

Lenovo's Q4 profit plunged 64%, coming in at $90 million, far below analyst expectations of $225.8 million. The PC giant blamed the drop on a non-cash decline in the value of warrants, despite a solid revenue beat at $16.98 billion, above the $15.6B forecast. The company is betting big on AI PCs, with CEO Yang Yuanqing predicting they’ll make up 25% of shipments by 2025 and 80% by 2027. Lenovo has integrated low-cost AI models from China’s DeepSeek into its latest devices. Lenovo’s infrastructure solutions group saw a 64% revenue jump, and its solutions and services unit posted $2.2B in revenue, up 22% YoY.
Why It Matters: While profits tanked, Lenovo’s underlying business shows signs of transformation. Its pivot toward AI PCs and enterprise services could unlock higher margins and more resilient growth long-term, especially as it weathers the volatility in consumer tech. (Read Deeper)

Nike To Raise Prices On Popular Footwear And Apparel Amid Tariff Pressures

Nike will raise prices on a wide range of footwear, apparel, and equipment starting as soon as this week, with increases ranging from $2 to $10. The move comes as the company braces for profit pressures from new U.S. tariffs on imports from China and Vietnam—where half of Nike's shoes are made. Footwear over $100 will be impacted, but children’s products and items under $100 will stay the same. Nike’s iconic Air Force 1 will remain $115, and Jordan brand apparel and accessories are also exempt.

Why It Matters: Nike is strategically shifting costs onto consumers as the Trump administration’s trade war squeezes global supply chains. This reflects a broader retail trend of tariff-driven inflation, particularly for brands reliant on Asian manufacturing. Meanwhile, wholesale and retail partners like Foot Locker may face challenges syncing their own pricing strategy with Nike’s MSRP adjustments. (Read Deeper)

TECHNOLOGY & SCIENCE

Jony Ive Joins OpenAI After $6.5B Acquisition Of His AI Device Startup

OpenAI has acquired io, the secretive device startup co-founded by legendary Apple designer Jony Ive and OpenAI CEO Sam Altman, in an all-equity deal valuing io at $6.5 billion. As part of the deal, LoveFrom, Ive’s design firm, will lead OpenAI’s design efforts — bringing Apple’s former design chief, the mind behind the iPhone and Apple Watch, to the forefront of the next computing revolution. The goal? Develop “a new generation of AI-powered computers” and “devices that move us beyond screens,” with consumer hardware set to debut in 2026.

Why It Matters: This deal show OpenAI’s serious ambitions in consumer hardware, putting it in direct competition with Apple. Jony Ive’s entry elevates OpenAI’s brand and credibility in physical product design, and could mark the beginning of a new AI-native hardware category, like what the iPhone was for mobile. (Read Deeper)

Harvard Scientists Propose Treating Mosquitoes With Malaria Drugs To Stop Spread

Harvard researchers have developed a method to treat mosquitoes with anti-malaria drugs, effectively stopping them from spreading the disease, instead of just trying to kill them. Malaria kills nearly 600,000 people annually, primarily children. But rising mosquito resistance to insecticides has blunted the effectiveness of traditional bed nets. Now, scientists have found two drugs that, when absorbed through a mosquito's legs (like from a treated bed net), completely eliminate the malaria parasite inside the insect. These drug-treated nets won’t necessarily kill the mosquito, but they will kill the parasite, halting transmission.

Why It Matters: This is a paradigm shift in the fight against malaria. Rather than fighting mosquitoes with brute force (insecticides), scientists are now taking a precision medicine approach, curing the vector, not just attacking it. If successful, this could extend the lifespan of bed nets, overcome insecticide resistance, and reduce the risk of drug resistance developing in parasites. Field trials will begin soon in Ethiopia, but researchers caution it may take six years to confirm widespread efficacy. (Read Deeper)

AROUND DE WORLD & POLITICS

Pentagon Accepts Qatari 'Flying Palace' To use As Air Force One For Trump

The Pentagon has accepted a luxury Boeing 747 jet from Qatar to serve as a temporary Air Force One, as delays continue on new aircraft originally ordered in the early 2010s. The move is drawing intense political backlash, especially after reports suggest the jet will be transferred to Trump’s presidential library after his term ends. The Pentagon insists the plane follows federal rules, but critics, including Senate Minority Leader Chuck Schumer — call it the largest foreign bribe in U.S. history.

Why It Matters: The gift of a $200M–$400M jet from Qatar to the Pentagon, ultimately for Trump's use, raises serious ethical and legal questions. Though Trump denies personal benefit, critics argue the plan to transfer ownership to his library foundation is a backdoor deal that circumvents federal gift restrictions. The Senate is now weighing legislation to block the use of foreign aircraft as Air Force One altogether. (Read Deeper)

Two Israeli Embassy Staffers Killed In DC Shooting Outside Jewish Museum

Two Israeli embassy staff members were fatally shot outside an event at the Capital Jewish Museum in Washington, DC, on Wednesday night. Authorities have taken a suspect into custody. Witnesses say the shooter shouted “Free Palestine” as he was detained. The FBI, Homeland Security, and Metropolitan Police are leading the investigation. Israeli and U.S. officials are condemning the attack as a potential act of anti-Semitic terrorism, calling it a red line.

Why It Matters: This is one of the most serious acts of violence involving foreign diplomats on U.S. soil in recent years. The attack raises urgent questions about the safety of Jewish institutions and foreign diplomatic staff in the U.S., and may influence both domestic security protocols and international diplomatic relations. (Read Deeper)

ENTERTAINMENT & SPORTS

Tottenham Ends 17-Year Trophy Drought With Europa League Final Win Over Man United

Tottenham lifted their first trophy in 17 years after a 1-0 win over Manchester United in the Europa League final, thanks to a first-half strike from Brennan Johnson. The victory delivers long-awaited silverware and fulfills manager Ange Postecoglou’s promise to win a trophy in his second season at the helm. Postecoglou, under mounting pressure, joins legendary Spurs bosses Bill Nicholson and Keith Burkinshaw in delivering a European title, all while bringing joy to over 15,000 traveling fans in Bilbao. ( Read Deeper )

Jeff Bezos And Lauren Sánchez Share Affectionate Moment Aboard $500M Yacht Ahead Of June Wedding

Jeff Bezos and fiancée Lauren Sánchez were spotted enjoying a sun-soaked weekend aboard the Amazon founder’s $500 million yacht, Koru. The couple, known for their high-profile relationship, were photographed in a playful and intimate moment, underscoring their affectionate dynamic ahead of their reported June wedding. The couple has become known for mixing lavish travel with public displays of affection — from St-Tropez strolls to exclusive yacht getaways. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Who will be the next global hegemon? The question of who will emerge as the next global hegemon is complex and multifaceted, with several nations positioning themselves to exert greater influence on the world stage. (Listen)

EXTRA BREVITI

• Meta Launches "Llama for Startups" Program to Boost Adoption of Its AI Models. (Read More)

• Xiaomi’s New Electric SUV to Hit Market in July, Says CEO Lei Jun. (Read More)

• Chris Brown Granted $6.7M Bail by UK Court Ahead of World Tour. (Read More)