📈 Why are insiders buying ETH?

Stocks rally on soft inflation, Nvidia dominates the AI trade, Ethereum breaks out, UnitedHealth tanks, and Colombia joins China's Belt & Road Initiative. Plus, eToro gears up for a blockbuster IPO.

Good Morning & Happy Wednesday!

Stocks rally on soft inflation, Nvidia dominates the AI trade, Ethereum breaks out, UnitedHealth tanks, and Colombia joins China's Belt & Road Initiative. Plus, eToro gears up for a blockbuster IPO.

Grab your Iced Latte and let’s get into it. 👇️ 

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Markets

📈 Stocks Extend Rally After Encouraging Inflation Data
Markets mostly rallied Tuesday after inflation data came in cooler than expected and traders continue to digest the China news. The S&P 500 climbed 0.7%, finally turning positive for 2025, while the Nasdaq surged 1.6%. The Dow dipped 0.6%, dragged down by an 18% plunge in UnitedHealth, which suspended its outlook and lost its CEO. Meanwhile, April’s CPI rose just 2.3% year-over-year, the softest pace since early 2021.

💻️ Why Nvidia is the tech winner of the US-China tariff truce
Nvidia's back in beast mode. As the Nasdaq claws its way out of 2025 losses, Nvidia (NVDA) has surged over 10% in two days, fueled by a U.S.-China tariff truce and fresh momentum in AI. Wedbush's Dan Ives called it a "dream scenario" for the chip giant, whose $3T market cap just made a comeback. CEO Jensen Huang? Sealing AI deals in Saudi Arabia, where the U.S. just greenlit advanced chip exports, 18,000 Nvidia units are already headed to a Saudi-backed startup.

👀 Bitcoin Price In Pause Mode While ETH Powers Higher
Ethereum's heating up, and big money knows it. London-based Abraxas Capital just scooped up nearly $500M worth of ETH in under a week, including a fresh $85M buy Tuesday, according to Lookonchain. They even borrowed $240M in USDT from Aave and dropped it on Binance, clearly betting big. ETH jumped 6% to $2,614, riding a 20% rally since last week’s Pectra upgrade, which analysts say is finally narrowing the gap with Bitcoin.

Our Take: We’re seeing rumors of a potential Ethereum Staking ETF which could be the catalyst for the sudden ETH outperformance. A big reason Ethereum ETFs aren’t as attractive as just buying Ethereum is because the ETFs currently don’t allow staking. But this could change, and maybe insiders already know it. 👀 

💊 UnitedHealth Stock Tumbles on CEO Departure
UnitedHealth (UNH) plunged 13% Tuesday after CEO Andrew Witty abruptly stepped down, citing personal reasons. Stephen Hemsley, the former CEO, is back at the helm. Adding to the shock, the company suspended its 2025 outlook due to unexpectedly high Medicare Advantage costs. The news dragged down the Dow and other major insurers, with Humana, CVS, and Elevance all sliding.

🇨🇴 China & Colombia sign Belt and Road cooperation pact
Colombia just joined China’s Belt and Road Initiative, signaling a major shift in its global alignment. President Gustavo Petro sealed the deal with Xi Jinping following a summit in Beijing, calling it a new era of “equality and freedom” in foreign relations. China now has two-thirds of Latin America in the BRI fold, using infrastructure investment to expand influence as it competes with Washington in the region. Xi promised to boost Colombian exports and deepen cooperation.

Markets

eToro IPO

eToro is making a bold Wall Street debut. The Israel-based trading platform announced plans to raise $620 million in an upsized IPO, pricing shares at $52—above the expected $46–$50 range.

Demand was so strong, the company expanded its offering to 11.92 million shares, and will begin trading Wednesday under the ticker “ETOR” on the Nasdaq Global Select Market.

Founded in 2007, eToro offers stock and crypto trading, but recently agreed to limit its U.S. crypto offerings after settling SEC charges over operating as an unregistered broker and clearing agency. The IPO is a rebound move after a failed 2022 SPAC merger at a $10.4B valuation.

Goldman Sachs, Jefferies, UBS, and Citigroup are leading the offering, and Bloomberg reports investor demand far outpaced supply, a bullish signal for one of the most-watched fintech listings of the year.

Quick Links

🫂 Microsoft laying off about 6,000 people, or 3% of its workforce.
🇸🇾 Trump says U.S. will remove all sanctions on Syria.
🏗️ Real Estate Holdings fund tokenizes part of 750m joint venture with 18% targeted IRR.
💵 Dollar falls after cooler-than-expected consumer price data.
🏭️ Nvidia supplier Foxconn cuts outlook due to tariff uncertainty.

Best of Twitter

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💻️ MEXC - Where we find and trade Crypto with low fees.
📈 TradingView - Software we use to chart stocks.
🔐 Trezor - Our favorite hardware wallet to keep our Crypto secure.
🦑 Kraken - Where we buy crypto with cash / withdraw profit to our bank.

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