Economy

Crypto Market
Bitcoin Falls – Lowest Level Since 2024

Bitcoin plunged more than 6 percent to just over $73,000 on Tuesday night. That’s the lowest level since 2024, according to data from Yahoo Finance. Amid the fiery tariff war of 2025, the price bottomed out around $74,000.

Falcon X derivatives trader Bohan Jiang tells Bloomberg that many investors bought the dip in hopes of a recovery to $80,000. As the cryptocurrency continues to fall, many positions have been liquidated, he says.

Augustine Fan, partner at Hong Kong-based options platform SignalPlus, says new records are a long way off.

– Sentiment in crypto is at rock bottom, he says.

Musk’s Space Ventures
Elon Musk Merges His Space and AI Companies

Elon Musk's space company SpaceX has acquired his AI company XAI. Musk confirmed this in a press release on the space company's website.

"This marks not just the next chapter, but the next book in SpaceX and XAI's mission," the company wrote.

The announcement comes after a long period of rumors about plans for a merger ahead of SpaceX's expected IPO later this year.

Musk notes that advances in AI depend on data centers that require enormous amounts of electricity and cooling. But the global demand for electricity for AI cannot be met with ground-based solutions - in the long run, AI scaling must happen in space, he writes.

The merged company is expected to become one of the world's most highly valued companies, according to sources to Bloomberg.

Jeffrey Epstein case
Handels received millions more than known from Epstein

The Stockholm School of Economics received several million kronor more from sex offender Jeffrey Epstein than previously known. Expressen reports, referring to recently published documents from American authorities.

In total, it was around 5 million kronor in today's monetary value - 3.5 million kronor more than the school has previously stated.

The money was used, among other things, for the Female Economist of the Year award, which Epstein is said to have had extensive insight into.

"We deeply regret and strongly distance ourselves from everything that has emerged," writes the school's head of communications Hanna Flodmark to Expressen.