FEATURED IN TODAYS NEWSLETTER

• Elon Musk Warns of ‘Financial Emergency’ as U.S. Debt Crisis Fuels Bitcoin and Gold Surge

• Big Tech’s Push into Advanced Nuclear Reactors Sparks Renewed Controversy

• Crypto Surge Stalls Amid DOJ Investigation into Tether

Business

Elon Musk Warns of ‘Financial Emergency’ as U.S. Debt Crisis Fuels Bitcoin and Gold Surge

Elon Musk, CEO of Tesla, recently shocked traders with a surprise bitcoin endorsement while warning that the U.S. is on the verge of "bankruptcy." With national debt soaring past $35 trillion and annual interest payments exceeding $1 trillion—surpassing the Defense Department's budget—Musk has called the situation a "financial emergency." As inflation fears rise, investors are flocking to bitcoin and gold, with prices surging amid concerns that higher interest rates and deficits will trigger more money printing. Tesla holds around 10,000 bitcoin, valued near $800 million, sparking speculation after a sudden wallet move raised fears of a potential sell-off.

LATEST IN CRYPTO

Crypto Surge Stalls Amid DOJ Investigation into Tether

Crypto prices reversed early gains and fell Friday afternoon after a Wall Street Journal report revealed a U.S. probe into Tether for potential sanctions and anti-money laundering violations. Tether (USDT), the largest stablecoin with a $120 billion market cap, is pegged to the U.S. dollar and widely used in crypto markets. Bitcoin (BTC), which had approached $69,000 earlier, dropped to $66,500 following the news, down nearly 2% in 24 hours, before slightly recovering to $66,800. The broader CoinDesk 20 Index also declined by 2.3% during the session.

TECH

Big Tech’s Push into Advanced Nuclear Reactors Sparks Renewed Controversy

Small modular reactors (SMRs) promise cheaper, more efficient nuclear energy with smaller, factory-built designs. However, skepticism persists as tech giants like Google and Amazon invest in advanced reactors to power AI operations with low-carbon energy. Critics point out that no commercial SMRs exist in the U.S., and only three are operational globally—in Russia and China. Analysts warn that uncertain timelines, rising costs, and limited climate impact make their viability questionable. While SMRs aim to address issues of traditional nuclear plants, projects like NuScale's Idaho reactors have faced delays and cost overruns, highlighting the challenges of this evolving technology.