🧬Joe Biden Diagnosed With Prostate Cancer

Good morning. It's Monday, May. 19, and we're covering, Capital One Has acquired Discover For $35B, Nvidia To Sell Chip-Linking Tech To Boost AI System Performance, Joe Biden Diagnosed With Aggressive, Advanced-Stage Prostate Cancer, 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 $3.26 Trillion, a 1.24% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $150.4B, which makes a 79.34% increase.

• The total volume in Defi is currently $35.11B, 23.34% of the total crypto market 24-hours.

• The volume of all stablecoins is now $140.85B, which is 93.65% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 63.00%, an increase of 0.53% over the day.

ETH, DOGE, XRP Fall After Moody’s Downgrades U.S. Credit Rating

Major cryptocurrencies like ether (ETH), XRP, and dogecoin (DOGE) dropped around 3% on Saturday after Moody’s Ratings downgraded the U.S. credit rating from Aaa to Aa1. The move triggered a wave of risk-off sentiment across financial markets, with investors growing more cautious amid rising deficits, debt, and interest costs. (Read Deeper)

BUSINESS & FINANCE

Capital One Has acquired Discover For $35B, Becomes Top U.S. Credit Card Issuer

Capital One has officially completed its $35 billion acquisition of Discover, creating the largest U.S. credit card issuer by loan volume. The deal was announced in Feb. 2024 and approved by regulators last month, gives Capital One access to Discover’s payments network and a stronger foothold to challenge Visa and Mastercard. CEO Richard Fairbank called it a union of “mission-driven companies” poised to “change banking for good.” But the merger faced backlash from lawmakers like Sen. Elizabeth Warren and Rep. Maxine Waters, who warned it could reduce competition and hurt small businesses.

Why It Matters: The merger also helps Capital One expand into cross-border commerce and payments, while potentially offering more inclusive financial products to cash-strapped, paycheck-to-paycheck consumers. With Discover’s in-house network, Capital One gains independence from Visa/Mastercard rails. (Read Deeper)

Qatar Airways Posts Record $2.1B Profit, Driven By Global Expansion

Qatar Airways reported a record net profit of $2.1 billion (7.8 billion Qatari riyals), marking a 28% year-over-year jump, according to a preliminary financial statement released Monday. The airline credited its agility in navigating global disruptions and its growing network of strategic partnerships for the strong performance. The company also made headlines last week with a $96 billion deal for 160 Boeing 777X and 787 aircraft, the largest widebody aircraft order ever placed.

Why It Matters: Qatar Airways is doubling down on long-term international expansion via equity stakes and aircraft investments. Over the past year, Qatar Airways acquired 25% stakes in Virgin Australia and Airlink, expanding its global reach. The airline’s strong results highlight the resilience of premium Gulf carriers in a volatile global market. (Read Deeper)

TECHNOLOGY & SCIENCE

Nvidia To Sell Chip-Linking Tech To Boost AI System Performance

Nvidia announced it will start selling its high-speed chip-to-chip communication technology, NVLink Fusion—to other chipmakers. The move enables companies like Marvell and MediaTek to build powerful, customized AI systems by connecting multiple chips more efficiently. The announcement was made by CEO Jensen Huang at Computex in Taipei. NVLink, originally designed for Nvidia’s own GPUs and processors, is a key part of the company’s advanced AI systems like the GB200, which pairs dual Blackwell GPUs with a Grace CPU.

Why It Matters: NVLink Fusion allows other firms to build custom multi-chip AI solutions, accelerating innovation outside Nvidia’s ecosystem. Nvidia cements itself not just as a chip leader but as the backbone of the AI age, selling tools, not just products. With new chip and production timelines extending to 2028, Nvidia is playing the long game in AI. (Read Deeper)

Apple Blocks Fortnite On iOS Worldwide After Epic’s Court Win

Just weeks after Epic Games scored a major courtroom victory, Apple has blocked Fortnite from iOS App Stores globally, including in the U.S. and EU. The move comes despite a federal judge's scathing rebuke of Apple last month, accusing it of defying a 2021 injunction by continuing to stifle competition on in-app purchases. Epic submitted Fortnite for App Store review last week, but Apple rejected it due to U.S. storefront issues. “Now, sadly, Fortnite on iOS will be offline worldwide until Apple unblocks it,” Epic said Friday.

Why It Matters: Despite a partial win in court, Epic is still locked out, showing Apple’s grip on app distribution remains largely intact. Developers like Epic and Spotify argue Apple’s 30% cut and anti-steering practices are outdated and unfair in the digital era. U.S. District Judge Yvonne Gonzalez Rogers recently ruled that Apple "knew exactly what it was doing" in violating her injunction. (Read Deeper)

AROUND DE WORLD & POLITICS

Joe Biden Diagnosed With Aggressive, Advanced-Stage Prostate Cancer

Former U.S. President Joe Biden, 82, has been diagnosed with an aggressive, Stage 4 form of prostate cancer that has metastasized to his bones, his office confirmed Sunday. The cancer was discovered after Biden reported urinary symptoms on Friday, and he is now consulting doctors on treatment options. Despite the severity, the cancer is said to be hormone-sensitive, meaning it can be managed with modern therapies. Biden’s Gleason score, a measure of cancer aggressiveness—was 9 out of 10, considered “very high risk,” though doctors say many patients can live for years with such diagnoses.

Takeaway: The announcement comes nearly a year after Biden withdrew from the 2024 presidential race following a shaky debate performance. Both Democrats and Republicans, including former rival Donald Trump, offered well wishes. Biden has largely kept a low profile since leaving office but recently defended his record and mental fitness in interviews. (Read Deeper)

UK And EU Close In on Reset Deal, But Starmer Faces Brexiteer Pressure

The UK and European Union are on the brink of resetting relations, with Prime Minister Keir Starmer hosting European Commission President Ursula von der Leyen and other EU officials in London today. Last-minute talks, including on fishing rights and a youth mobility scheme continued past midnight but reportedly yielded a “late breakthrough.” A press conference is expected at 12:30 p.m. London time, with optimism building that the deal will open doors to cooperation on defense, trade, and climate policy, while carefully avoiding a return to the EU’s single market or customs union.

Why It Matters: A successful deal could reshape UK-EU relations for the first time since the acrimonious 2020 exit. Security, energy, and youth exchanges may see progress, but trade gains are likely to be symbolic without rejoining the single market. Starmer’s approval has hit a record low (23%), raising the stakes of any perceived concession to Brussels. (Read Deeper)

ENTERTAINMENT & SPORTS

Real Madrid To Honour Carlo Ancelotti In Santiago Bernabéu Farewell

This Saturday, May 24, Carlo Ancelotti will lead Real Madrid for the final time at the Santiago Bernabéu as they face Real Sociedad in their last La Liga game of the season. The club will pay tribute to one of its most successful managers, celebrating the 15 trophies he has won across two spells — including Champions League and La Liga titles. Ancelotti departs with his legacy secured, heading to Brazil to begin his role as head coach of the Seleção, while Real Madrid prepares to usher in a new era under Xabi Alonso, the current Bayer Leverkusen coach. (Read Deeper)

Elton John Slams UK Government As "Losers" Over AI Copyright Exemption Plans

Elton John has lashed out at the UK government over its decision to reject proposals requiring AI companies to disclose which copyrighted materials they use to train their systems. Speaking to the BBC, the music icon called the government “absolute losers” and warned they are “robbing young people of their legacy and income.” (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• How To Progress Way Faster Than Anyone Else: If you're aiming to accelerate your personal growth and outpace others, consider adopting the following strategies.(Listen)

EXTRA BREVITI

• OpenAI Plans Data Center in Abu Dhabi Bigger Than Monacos. (Read More)

• Zelenskiy Meets Vance, Rubio Ahead of Trump-Putin Ceasefire Call. ( Read More )

• Poland Heads to Presidential Runoff Between Centrist Trzaskowski And Nationalist Nawrocki. (Read More)

• Metaplanet Buys 1,004 More Bitcoin, Holdings Now Top $800M. (Read More)