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The Hidden Meaning Behind the Tech Sector’s Rally (And How to Spot It)

Stock 5 Mins Read

When you’re lost in the woods, you reach for a compass to find true north. In the markets, it’s not so simple, as the landscape is always shifting. If there is a “true north” in this terrain, it might be better understood as a characteristic—strength and momentum over time, rather than a single stock or sector.

With sentiment muddled and signals mixed, how do you cut through near-term noise and find the “true north” in a shifting market landscape? This is where StockCharts’ MarketCarpets comes in. You can think of it as a visual compass that can help you reorient and recalibrate.

What MarketCarpets is Saying Now

All MarketCarpets readings use the five-day setting, since shorter time frames are particularly susceptible to noise in the current context.

FIGURE 1. MARKETCARPETS S&P VIEW. Lots of green, but I want to see a reduction.

On Thursday morning, there were more bullish greens than bearish reds. They represent S&P 500 stocks performing better relative to others—specifically from a ‘long only’ (bullish) perspective. But what do those greens have in common?

The answer is that most, if not all, are Information Technology sector funds.

Technology Sector Leads the Charge in S&P 500

If you select the S&P Sector ETFs group, Technology is the strongest among all 11 S&P sectors.

FIGURE 2. MARKETCARPETS SECTORS. Technology is far ahead of most other sectors, which read bullish.

If you follow financial news, you’re probably well aware of how certain tech companies are performing, especially in light of the current earnings season.

But not every investor wants to risk allocating capital toward individual stocks, given the volatility of today’s geopolitical environment, where news on a given day can cause markets to soar or slump. So, conservative investors, particularly those in or nearing retirement, might want to opt for a sector ETF instead, like the Technology Select Sector SPDR Fund (XLK).

Why is technology outperforming?

Six Reasons Tech Stocks are Outperforming in 2025

Here’s a quick breakdown of what’s going on:

  • AI and cloud boom. Enterprise-focused giants are thriving due to surging AI demand.
  • Earnings confidence. Big tech’s strong earnings are keeping investor sentiment positive despite market volatility.
  • Tariff mitigation. Tech companies are proactively shifting supply chains to soften tariff impact.
  • Tariff relief. Temporary exemptions on key tech products give hardware makers a short-term boost.
  • Long-term innovation appeal. Investors see AI, chips, and automation as long-term growth drivers.
  • Stable revenue streams. Tech firms with enterprise and software services offer more stability than consumer-driven sectors.

Technology Sector Overbought? Market Breadth Says Maybe

That’s a lot of fundamental talk, but what does the technical picture look like? Let’s start by analyzing market breadth with the S&P Technology Sector Bullish Percent Index ($BPINFO) chart.

FIGURE 3. TECH SECTOR BPI. Most tech stocks in the sector are ultra-bullish, but that can also signal overbought conditions.

The Bullish Percent Index (BPI) is at 85, meaning 85% of all stocks within the sector are triggering Point & Figure Buy Signals. Above 50% is bullish, but above 70%, let alone 85%, XLK is straddling ultra-bullish to overbought.

If you look at the magenta rectangle, you can see where XLK’s trend is situated—at the point of recovery following a two-month tumble. However, it’s still below its 200-day simple moving average (SMA), and, as the saying goes, nothing good happens below the 200.

XLK’s Price and Volume Action: A Closer Look

Let’s zoom in on a daily chart.

FIGURE 4. DAILY CHART OF XLK. It broke above resistance, but can it sustain upward momentum?

XLK’s recovery effort gained momentum with a notable gap up on Thursday. Positive momentum is reinforced by a rising Relative Strength Index (RSI) above the 50 level, suggesting XLK still has room to run.

From a volume perspective, the On Balance Volume (OBV) indicator is trending higher, signaling increased buying pressure. A 20-day SMA is overlaid to show how OBV is performing relative to its average. However, the Chaikin Money Flow (CMF), hovering flat near the zero line (see blue circle), indicates accumulation with hesitation.

Key Support Levels to Watch If You’re Bullish on XLK

If you’re considering a long position in XLK, keep an eye on these key technical levels:

  • Initial Support – $205. The breakout level around $205 (marked by the blue dotted line) should act as the first line of support on any pullback.
  • Secondary Support Zone – $185 to $187.50. If $205 fails, the yellow-shaded zone becomes the next support range. But note: if price falls here, the $205 breakout level may flip into resistance.
  • Critical Support – $172.50. A drop toward $172.50 could signal deeper technical weakness. That’s why the area is shaded red—to underscore its importance.

In each case, monitor the CMF for confirmation. A rising CMF, especially in the first two support zones, would suggest continued buying pressure—a bullish signal. Conversely, if CMF dips below the zero line, it would signal growing selling pressure, reinforcing a more bearish outlook.

At the Close

The tech sector is leading the charge, but you have to estimate whether momentum is real or just generating noise. MarketCarpets works like a compass, helping you visually navigate market conditions and spot patterns. Pair it with tools like RSI, OBV, CMF, or any other preferred tool in your analytical toolbox to create well-defined setups and exits. In a market environment driven by sentiment, headlines, fear, and FOMO, having a solid technical foundation is more important than ever.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your personal and financial situation, or without consulting a financial professional.

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Top 10 Stock Charts For May 2025: Breakouts, Trends & Big Moves!

Stock 1 Min Read

Discover the top 10 stock charts to watch this month with Grayson Roze and David Keller, CMT. They break down breakout strategies, moving average setups, and technical analysis strategies using relative strength, momentum, and trend-following indicators. This analysis covers key market trends that could impact your trading decisions. You don’t want to miss these insights into market dynamics and chart patterns that could impact your trading decisions.

This video originally premiered on May 1, 2025. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.

You can view previously recorded videos from Grayson at this link.

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Top 5 Manganese Reserves by Country

Investing 5 Mins Read

Manganese, a key ingredient for the steel market, is also seeing growth in demand from the electric vehicle battery sector, particularly when it comes to high-purity manganese chemical products.

Manganese investors are often interested to hear which countries produce the most of the metal. After all, if a nation is producing a lot of manganese, many companies are likely operating there, and investment opportunities may thus be available.

However, what investors sometimes fail to consider is manganese reserves, or how much economically mineable manganese a country holds, and which companies are working to bring those reserves into production.

Here’s an overview of the five countries with the highest manganese reserves. Data for this list of manganese reserves by country comes from the US Geological Survey’s 2025 report on manganese.

1. South Africa

Manganese reserves: 560 million metric tons

At 560 million metric tons, South Africa holds the highest manganese reserves in the world by a long shot. The nation is also the world’s top producer of the metal, with 2024 output of 7.4 million metric tons.

South32 (ASX:S32,LSE:S32,OTC Pink:SHTLF) is a major presence in the South African manganese space. Its South Africa Manganese operation is located in the manganese-rich Kalahari Basin and consists of the open-pit Mamatwan mine, the underground Wessels mine and the Metalloys manganese alloy smelter.

Another ASX-listed manganese miner, Jupiter Mines (ASX:JMS,OTC Pink:JMXXF) is also operating in the area at its Tshipi Borwa mine, considered the largest manganese mine in country and one of the largest in the world.

2. China

Manganese reserves: 280 million metric tons

The country with the next highest manganese reserves is China at 280 million metric tons of manganese. The Asian nation is also the sixth largest producer of manganese ore, the largest producer of refined manganese and the largest consumer of the metal. Unsurprisingly, China’s economy and government regulations have an outsized impact on the global manganese market.

There have been several significant manganese discoveries in China over the last decade. In late 2023, new manganese deposits were discovered in the southeast province of Jiangxi during government-led exploration work, and manganese deposits were discovered in the southwest province of Guizhou in 2017. More recently, in March 2025, Chinese government geologists confirmed an inferred resource estimate of 6.07 million tons of manganese ore in the Maowanli manganese project in the Sichuan province.

Looking further down the value added chain, Australian miner Firebird Metals (ASX:FRB,OTC Pink:FRBMF) has partnered with a subsidiary of China National Chemical Engineering Co. (SHA:601117) to build a high-purity manganese sulphate plant in China, which has entered pilot production. Firebird has an ore supply agreement in place with Eramet (EPA:ERA) for manganese ore to feed the plant, and it could potentially be supplied by Firebird’s Oakover manganese project in Australia in the future.

3. Brazil

Manganese reserves: 270 million metric tons

Brazil hosts a total of 270 million metric tons of manganese reserves as of 2024. The country produced 590,000 metric tons of the metal in 2024, making it the seventh-largest manganese-producing country.

Buritirama Mining, a subsidiary of Grupo Buritipar, is Brazil’s leading producer of the metal. The company invested US$200 million in 2023 to expand operations at its Para state mine.

Major miner Vale (NYSE:VALE), previously the largest manganese miner in the country, offloaded its Brazilian manganese and iron ore assets to J&F Investimentos in 2022. Going forward, J&F has said it plans to invest more than US$1 billion in increasing the iron ore and manganese output from the mines it purchased from Vale.

4. Australia

Manganese reserves: 110 million metric tons

At 110 million metric tons, Australia holds the fourth highest manganese reserves in the world. The nation is also the world’s third largest producer of the metal. In 2024, Australia’s manganese output came in at 2.8 million metric tons.

Australia’s largest manganese ore producer is Groote Eylandt, a 60/40 joint venture between South32 and Anglo American (LSE:AAL,OTCQX:AAUKF), in the nation’s Northern Territory. In mid-March 2024, operations at Groote Eylandt were negatively impacted by Tropical Cyclone Meghan — the second strongest cyclone to hit the area in the past two decades.

The storm damaged critical infrastructure at the site, including a haulage bridge between the mine and processing facilities, as well as the wharf from which manganese ore is shipped. South32 is currently conducting engineering studies to determine a schedule and capital costs to make the repairs needed to restore operations at Groote Eylandt.

As of mid-April 2025, South32 had completed construction at the wharf and expected to start export sales again in May.

5. Gabon

Manganese reserves: 61 million metric tons

Gabon hosts the fifth largest manganese reserves in the world at 61 million metric tons; however, the Central African nation is the second largest producer of the metal with an output of 4.6 million metric tons in 2024.

Gabon is also the largest source of US manganese imports at 63 percent in 2024 compared to 23 percent from South Africa.

Eramet’s Moanda mine is a centerstone of the country’s manganese mining sector and it is based on one of the world’s richest manganese deposits. Eramet is the world’s second largest miner of high-grade manganese ore and operates the mine through its subsidiary COMILOG. In response to an oversupplied market, Eramet temporarily paused production at Moanda in the fourth quarter of 2024, but it has since recommenced.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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Trump Administration Strikes 50/50 Minerals Deal with Ukraine

Investing 5 Mins Read

The Trump administration has finalized a profit-sharing agreement with Ukraine that will give the US a 50 percent stake in future revenues from the war-torn country’s stores of critical minerals.

At the heart of the deal, announced on Wednesday (April 30), is a set of materials that are foundational to both economic growth and national security, including graphite, lithium, titanium, beryllium and uranium.

The deal also covers the 17 rare earth elements, which are key components in the manufacturing of clean energy technologies like wind turbines, solar panels, electric vehicles and modern weapons systems.

According to US Secretary of the Treasury Scott Bessent, the deal is part of Washington’s broader vision for “a peace process centred on a free, sovereign, and prosperous Ukraine over the long term.”

“President Trump envisioned this partnership between the American people and the Ukrainian people to show both sides’ commitment to lasting peace and prosperity in Ukraine,” Bessent added in a statement.

While emphasizing a commitment to peace in Ukraine, he also issued a warning: any entity ‘who financed or supplied the Russian war machine’ will be barred from taking part in Ukraine’s reconstruction, a thinly veiled reference to Russia’s state-backed energy and mining sectors, as well as Chinese firms with close ties to Moscow.

The US currently imports many key minerals. The US Geological Survey states that of the 50 minerals it classifies as “critical,” the country is 100 percent import-dependent on 12 of them, and more than 50 percent dependent on 16 others.

Meanwhile, China has established near-total dominance over global rare earths production and refining, raising alarms in western capitals about overreliance on a strategic rival.

Ukraine, in contrast, is sitting on a potential treasure trove. The Ukrainian government says it has deposits of 22 of the 50 critical minerals the US deems critical, including some of the world’s largest graphite and lithium reserves.

Many of these resources are located in the country’s eastern and southern regions, some of which remain under Russian occupation and are worth an estimated US$500 billion in untapped reserves.

A deal born of conflict and eventual compromise

The minerals deal has a fraught history, with Trump originally pitching it as a way for the US to be “repaid” for military assistance provided to Ukraine since Russia’s full-scale invasion in 2022.

Trump claims the US has sent over US$350 billion in aid, a figure far higher than the official tally of US$183 billion listed on the US government’s own Ukraine Oversight webpage.

That early version of the agreement collapsed after a tense Oval Office meeting on February 28, during which Trump blamed Ukrainian President Volodymyr Zelenskyy for failing to prevent Russia’s invasion.

Negotiations were revived following a more conciliatory conversation between the two leaders during Pope Francis’ funeral in Rome. Since then, Trump has softened his public rhetoric toward Kyiv while sharpening criticism of Russian President Vladimir Putin, who has dismissed Trump’s ceasefire overtures.

Speaking at a White House cabinet meeting on the day the deal was signed, Trump defended the agreement as a necessary course correction after years of what he described as “throwing money out the window.”

“We had no security, we had no nothing — just pouring money there, unsecured money,” Trump said. “So I said, ‘Well, we want something for our efforts beyond what you would think to be acceptable.’”

The final version of the deal, confirmed by Ukrainian Economy Minister Yulia Svyrydenko, establishes a joint development fund with equal 50/50 profit sharing. “It is important that the agreement will become a signal to other global players that it is reliable to cooperate with Ukraine in the long term — for decades,” she said in a post on X, also emphasizing that Kyiv will retain sovereign control over resource management.

Still, the negotiations came down to the wire. Bessent admitted that Ukrainian officials had proposed last-minute changes, delaying the signing until the afternoon.

The precise terms of the final accord remain under wraps, and the treasury department has declined to release a full copy, despite reporting from the Washington Post and the Kyiv Independent on key provisions.

Opportunities and risks moving forward

While Trump has portrayed the agreement as a personal victory and proof of his commitment to “peace through strength,” some analysts caution that the US-Ukraine minerals partnership could be vulnerable to future instability.

Ed Verona, a senior fellow at the Atlantic Council’s Eurasia Center, has warned that “few serious US investors will put their shareholders’ money at risk based on such a clearly unbalanced ‘deal.’”

Verona cited Russia’s own resource history as a cautionary tale. “Production sharing agreements signed during the difficult transitional period of the 1990s were subsequently repudiated by Putin’s regime, with Western partners forced to surrender control and majority ownership in major projects,” he said.

Moreover, with no security guarantees attached to the deal, Ukraine’s ability to develop its resource sector could still be jeopardized by continued fighting, especially as some of the most mineral-rich regions remain under Russian control.

As the G7 Summit in Kananaskis, Alberta, approaches, where Canadian Prime Minister Mark Carney and Zelenskyy are expected to meet again, western unity on Ukraine’s reconstruction will be under scrutiny.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Halcones Precious Metals Closes Non-Brokered Offering

Investing 5 Mins Read

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Halcones Precious Metals Corp. (TSX-V: HPM) (the ‘ Company ‘ or ‘ Halcones ‘) announces it has closed, on an upsized basis, its previously-announced non-brokered private placement of units (the ‘ Offering ‘) of the Company (the ‘ Units ‘) pursuant to which the Company issued 10,204,153 Units at a price of $0.07 per Unit for aggregate gross proceeds of $714,290.71. Each Unit is comprised of one common share in the capital of the Company (‘ Common Share ‘) and one-half of one Common Share purchase warrant (each whole warrant, a ‘ Warrant ‘). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.10 per Common Share for a period of 36 months following the date hereof.

The Company plans to use the net proceeds of the Offering to continue the exploration work on its Polaris Project as well as for general corporate working capital purposes.

Insiders of the Company participated in the Offering and were issued an aggregate of 2,571,428 Units. Such participation in the Offering is a ‘related party transaction’ as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘ MI 61-101 ‘). The Offering is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities issued to insiders nor the consideration for such securities by insiders exceed 25% of the Company’s market capitalization.

In connection with the Offering, the Company paid cash finder’s fees of $9,099.30 and issued 129,990 finder’s warrants (the ‘ Finder Warrants ‘) to eligible finders. Each Finder Warrant entitles the holder to acquire one Common Share at a price of $0.07 for a period of 36 months following the date hereof. The Offering remains subject to the final approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Halcones Precious Metals Corp.

Halcones is focused on exploring for and developing gold-silver projects in Chile. The Company has a team with a strong background of exploration success in the region.

For further information, please contact:

Vincent Chen, CPA
Investor Relations
vincent.chen@halconespm.com
www.halconespreciousmetals.com

Cautionary Note Regarding Forward-looking Information

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, regarding the Offering, the Company’s intended use of proceeds from the Offering, the approval of the Offering by the TSXV, the Company’s ability to explore and develop its Polaris project and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘occur’ or ‘be achieved’. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Halcones, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Halcones has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Halcones does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

News Provided by GlobeNewswire via QuoteMedia

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Crypto Market Recap: Trump’s US$2B Stablecoin Deal with UAE Sparks Ethics Debate

Investing 6 Mins Read

Here’s a quick recap of the crypto landscape for Wednesday (April 30) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$93,992.22 as markets closed for the day, down 1.3 percent in 24 hours. The day’s range has seen a low of US$93,333.62 and a high of US$94,464.34.

Bitcoin performance, April 30, 2025.

Chart via TradingView.

Cryptocurrencies have fallen slightly after the US Department of Commerce revealed that US gross domestic product declined by 0.3 percent in Q1, in contrast to economists’ expectations for a 0.4 percent gain.

Wednesday’s reading marks the first decline since Q1 2022. “Multiple indicators are now showing a recession to be the base case expectation in 2025,” according to the Kobeissi Letter.

Ethereum (ETH) ended the day at US$1,782.75, a 1.9 percent decrease over the past 24 hours. The cryptocurrency reached an intraday low of US$1,750.28 and reached its daily high as the markets wrapped.

Altcoin price update

  • Solana (SOL) ended the day valued at US$145.18, down 2.5 percent over 24 hours. SOL experienced a low of US$141.31 and peaked at $145.61.
  • XRP traded at US$2.19, reflecting a 4.3 percent decrease over 24 hours. The cryptocurrency recorded an intraday low of US$2.15 and reached its highest point at US$2.20.
  • Sui (SUI) was priced at US$3.41, showing a decreaseof four percent over the past 24 hours. It achieved a daily low of US$3.32 and a high of US$3.46.
  • Cardano (ADA) was trading at US$0.6808, down 3.6 percent over the past 24 hours. Its lowest price on Wednesday was US$0.6711, with a high of US$0.6862.

Today’s crypto news to know

Grayscale launches Bitcoin Adopters ETF

On Wednesday, Grayscale announced the launch of the Grayscale Bitcoin Adopters ETF on the NYSE Arca under the ticker symbol BCOR. The fund is based on the Indxx Bitcoin Adopters Index.

The launch of this exchange-traded fund (ETF) represents the growing interest in Bitcoin among corporations. According to Rahul Sen Sharma, president and Co-CEO at Indxx, public companies’ Bitcoin holdings increased by 16.1 percent in the year’s first quarter, valued at approximately US$57 billion. Roughly 3 percent of Bitcoin’s total supply is now held by companies globally, indicating a major shift in corporate treasury management.

Tether announces plans for US dollar stablecoin

Tether CEO Paolo Ardoino announced in a CNBC interview on Wednesday afternoon that his company plans to launch a US dollar stablecoin in the US as early as the end of this year or in early 2026.

Tether’s existing USDT stablecoin is the leading US dollar exporter with a market cap of nearly US$150 billion; however, it is overshadowed in the US by Circle’s rival product, USDC.

Ardoino told CNBC that USDT was created for smaller, developing economies, and that its new product will be designed with features that cater specifically to the US market.

SEC postpones decisions on XRP and DOGE ETFs

The US Securities and Exchange Commission (SEC) has extended its review period for two proposed spot cryptocurrency exchange-traded funds (ETFs) tied to XRP and Dogecoin, delaying any decision until mid-June.

The agency cited a need for more time to evaluate the filings, specifically the Bitwise DOGE ETF and the Franklin XRP Fund, and the legal issues they raise.

Under federal securities law, the SEC is allowed up to 90 days from the initial publication to make a decision, and this delay appears to fall within that window. Analysts speculated that the delay was anticipated and aligns with broader expectations that most final rulings will land in the fall.

While DOGE and XRP prices saw little immediate movement, the delay signals the SEC’s continued caution around expanding ETF offerings beyond Bitcoin and Ethereum.

Kraken launches ‘Embed’ service to let banks offer crypto trading

Crypto exchange Kraken is opening a new front in institutional crypto adoption with the launch of “Embed,” a plug-and-play crypto trading service for fintechs, neobanks, and traditional financial institutions.

Announced on Wednesday, the service enables companies to integrate crypto trading directly into their apps and websites using Kraken’s APIs, bypassing the need to build costly infrastructure or secure their own licenses.

Amsterdam-based digital bank Bunq is the first to roll out the new service, debuting ‘Bunq Crypto’ to let European users trade digital assets within its existing app.

According to Kraken’s head of payments, Brett McLain, the goal is to offer access to a wide range of tokens and fast asset listings, which he says sets Kraken apart from other white-label providers like Bitpanda.

Embed customers will pay variable service fees and share a portion of trading revenues with Kraken.

KuCoin pledges US$2 billion to Trust project

KuCoin announced a bold US$2 billion investment into what it’s calling the “Trust Project,” a sweeping initiative to restore user confidence and improve transparency across its platform.

The announcement was made during the TOKEN2049 conference in Dubai, where KuCoin executives laid out a roadmap focused on regulatory alignment, user protection, and responsible innovation.

A major component of the project involves giving the exchange’s native token, KCS, a larger role in governance, risk mitigation, and user reward structures. CEO BC Wong said the investment is aimed at securing the “long-term health” of the digital asset ecosystem by strengthening accountability and neutralizing systemic risks.

The initiative arrives as global regulators intensify their scrutiny of centralized exchanges and demand higher standards for custody, disclosures, and user safeguards.

Nasdaq files to list 21Shares Dogecoin ETF

In a fresh bid to tap into retail enthusiasm for meme coins, the Nasdaq has submitted a formal application with the SEC to list the 21Shares Dogecoin ETF, according to a 19b-4 filing released Tuesday.

The ETF is designed to track Dogecoin’s market performance via the CF DOGE-Dollar Settlement Price Index and will hold the token directly, without using leverage or derivatives.

Coinbase Custody Trust has been named as the fund’s official custodian, offering added legitimacy and security to the proposed vehicle. The filing comes in the wake of 21Shares’ S-1 registration and its partnership with the House of Doge — a corporate arm of the Dogecoin Foundation — to promote the fund.

Although the SEC recently delayed a decision on Bitwise’s similar DOGE ETF, Nasdaq’s move signals sustained momentum behind bringing more meme coin exposure to regulated markets.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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Clippers force Game 7 against Nuggets: Highlights

Sport 4 Mins Read

The first Game 7 of the 2025 NBA playoffs is upon us. 

The Los Angeles Clippers defeated the Denver Nuggets 111-105 in Game 6 on Thursday to force a decisive Game 7 on Saturday. The Clippers led by as many as 15 points at home at the Intuit Dome, but the Nuggets went on a 15-5 run in the fourth quarter to come within five points with 58.1 seconds remaining. Denver wasn’t able to pull it off and missed out on an opportunity to close out the series. Now it’s anyone’s game.

James Harden led the way for the Clippers with 28 points, eight assists and six rebounds. Kawhi Leonard added 27 points and 10 rebounds, while Norman Powell had 21 points and three rebounds. 

Nikola Jokic finished with 25 points, eight assists and seven rebounds for Denver. Jamal Murray added 21 points, eight rebounds and eight assists. 

The Nuggets are 4-4 all-time in Game 7s, while the Clippers are 4-5. However, the Nuggets have had slightly better luck recently and have won two of their past three Game 7s, while the Clippers have lost three of their past four. The rested Oklahoma City Thunder await the winner of this series after sweeping the Memphis Grizzlies.

Catch up on all the highlights from Game 6:

Final: Clippers 111, Nuggets 105

Highlights: Game 6

End of 3Q: Clippers 90, Nuggets 79

The Clippers began to pull away in the third quarter, building a lead as large as 15 against the Nuggets. L.A. managed to outscore the Nuggets 32-22. James Harden had 23 points and Kawhi Leonard had 22 points through three quarters. Norman Powell provided a spark with 11 of his 19 points in the third. Nikola Jokic was limited to just three points in the quarter. He had 20 points for the Nuggets in the first half.

Halftime: Clippers 58, Nuggets 57

The Clippers outscored the Nuggets 33-29 in the second quarter to take a 58-57 lead at halftime. 

James Harden has bounced back from his recent performances to score 21 points and shoot 7-of-10 from the field. He scored just 26 points combined in Games 4 and 5.

Kawhi Leonard added 13 points for the Clippers. 

Nikola Jokic leads the Nuggets with 20 points and Jamal Murray has 12 points, six assists and six rebounds for Denver.

End of 1Q: Nuggets 28, Clippers 25

The Los Angeles Clippers started the first quarter with some momentum, but Jamal Murray continued where he left off, scoring a game-high 12 points in the opening quarter for the Nuggets. 

The Nuggets lead the Clippers 28-25. 

Kawhi Leonard and Norman Powell led the Clippers in scoring with six points each. L.A. went 1-for-10 from the three-point line in the quarter.

How to watch Nuggets vs. Clippers: Time, TV, streaming info

  • Time: 10 p.m. ET
  • TV: TNT
  • Stream: Fubo
  • Location: Intuit Dome (Inglewood, California)

Clippers starters

James Harden, Kris Dunn, Norman Powell, Kawhi Leonard and Ivica Zubac will start the game for Los Angeles, marking the same lineup the Clippers have used in the first five games of the series.

Denver Nuggets starting 5

The Nuggets are turning to the same starting lineup they’ve used the first five games of the first-round series — Nikola Jokic, Jamal Murray, Christian Braun, Michael Porter Jr. and Aaron Gordon.

Clippers’ Kawhi Leonard ready for Game 6 vs. Nuggets

Kawhi Leonard prepares for Game 6 as the Clippers host the Nuggets tonight. Through the first five games of the first-round series, Leonard has averaged 25.5 points, 7.6 rebounds, and 5.2 assists in 38.4 minutes per game.

Nuggets vs. Clippers Game 6 schedule

Game 6 of the NBA playoff series between the Denver Nuggets and Los Angeles Clippers is set to tipoff at 10 p.m. ET on Thursday, May 1.

Where are the Clippers playing tonight?

The Clippers will host the Nuggets at Intuit Dome in Inglewood, California.

Kris Dunn stats

In his ninth season and first with the Clippers, Dunn averaged 6.4 points, 3.4 rebounds and 2.8 assists in 74 regular-season games with a career-high 58 starts. Through the first five games of the playoff series against the Nuggets, Dunn is averaging 7.8 points, 4.6 rebounds and 1.2 assists, while shooting 41.7% from the field and 39.1% from three. 

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Rangers hire coach: Ranking the NHL’s seven other openings

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The NHL’s coaching carousel has recorded its first hire of the offseason.

The New York Rangers announced Friday that they have hired Mike Sullivan as the franchise’s 38th coach. The two-time Stanley Cup winner was available because he and the Pittsburgh Penguins had parted ways this week after a third season missing the playoffs.

The Rangers had fired Peter Laviolette after the team had fallen from the best record in the league in 2023-24 to out of the playoffs this season. Sullivan, who coached Sidney Crosby and Evgeni Malkin in Pittsburgh plus Team USA at the 4 Nations Face-Off, will take over another team loaded with high-end players. He had been an assistant coach with the Rangers from 2009-13.

‘I’ve gotten to know Mike very well over the years, including as teammates in the 1997 World Championships, when he coached me as a player in New York and through our shared time working together with USA Hockey,’ general manager Chris Drury said in a statement. ‘As we began this process and Mike became an available option for us to speak with, it was immediately clear that he was the best coach to lead our team.”

The Rangers had been No. 1 on USA TODAY’s rankings of the NHL’s coach openings. Here are the remaining seven destinations, ranked from most to least attractive:

1. Anaheim Ducks

Reason for opening: Greg Cronin was fired after two seasons.

Recent history: They haven’t made the playoffs for seven seasons.

Advantages: The team jumped 21 points in the standings so it’s on the rise. Forward Troy Terry and goalie Lukas Dostal are solid. The Ducks have promising younger players in Mason McTavish, Jackson LaCombe, Cutter Gauthier and Leo Carlsson. GM Pat Verbeek said he will be aggressive in free agency.

Disadvantages: Even with the improvement, the Ducks finished 16 points off a playoff spot. The Western Conference is tough. The Ducks finished last in the league on the power play and in the bottom five in goals, penalty killing and 5-on-5 play. Trevor Zegras has problems staying healthy.

2. Pittsburgh Penguins

Reason for opening: The team and Sullivan agreed to part ways.

Recent history: They have missed the playoffs the last three seasons.

Advantages: You get to coach Crosby, who continues to thrive and broke Wayne Gretzky’s record with a 20th season averaging at least a point per game. He’s signed for two more seasons. Fellow core member Malkin has another year left on his contract and Kris Letang has three. Rickard Rakell and Bryan Rust topped 30 goals this season.

Disadvantages: There’s not a lot of production from the bottom six forward group. Goaltender Tristan Jarry’s inconsistency led to time in the American Hockey League. The team ranked 29th in the league in five-on-five goal differential and had the fourth-worst goals-against average.

3. Boston Bruins

Reason for opening: Jim Montgomery was fired in November and Joe Sacco finished the season as interim coach. The Bruins said Sacco would be considered in their coaching search.

Recent history: The Bruins’ eight-year playoff streak ended this season.

Advantages: David Pastrnak is an elite scorer. Morgan Geekie had a breakout season. The team will be better when injured defensemen Charlie McAvoy and Hampus Lindholm return. GM Don Sweeney has cap room to make free agency moves.

Disadvantages: Core players were dealt at the deadline. As of now, the center depth needs improvement. Goalie Jeremy Swayman is coming off a down season. Sweeney, whose free agency moves for Elias Lindholm and Nikita Zadorov didn’t pan out, has a year left on his contract.

4. Chicago Blackhawks

Reason for opening: Luke Richardson was fired in December. Anders Sorensen finished the season as interim coach.

Recent history: They have one playoff appearance in the last eight seasons, none since 2020.

Advantages: Connor Bedard is a generational player and will keep getting better. Ryan Donato scored 31 goals this season. Trade deadline acquisition Spencer Knight is a potential franchise goalie. The team will draft high again in 2025.

Disadvantages: The Blackhawks traded away a lot of veterans before winning the 2023 Bedard draft lottery and lack depth. Even with promising young players, this is a long rebuild. Donato is a free agent.

5. Philadelphia Flyers

Reason for opening: John Tortorella was fired in March and Brad Shaw finished the season as interim coach.

Recent history: They last made the playoffs in 2020.

Advantages: Young forward Matvei Michkov is an exciting, skilled player. Forward Travis Konecny and defenseman Travis Sanheim made Team Canada at the 4 Nations Face-Off.

Disadvantages: They finished last in the conference so there’s a long way to go. Their goaltending is inconsistent.

6. Vancouver Canucks

Reason for opening: Rick Tocchet turned down a new contract offer to pursue other opportunities.

Recent history: They missed the playoffs this season and have made it once in the past five years.

Advantage: They won the Pacific Division title in 2023-24. Defenseman Quinn Hughes won the Norris Trophy last year and is a finalist this season.

Disadvantage: This is far from the team that won the division title. J.T. Miller was traded to New York after he and Elias Pettersson had a dispute. Pettersson needs to find his game again. Goaltender Thatcher Demko has injury issues. Brock Boeser is expected to leave in free agency. And according to team president Jim Rutherford, Hughes wants to play with his brothers: New Jersey’s Jack and Luke. His contract runs out in 2026.

7. Seattle Kraken

Reason for opening: Dan Bylsma was fired in April after one season.

Recent history: They have made the playoffs once in four seasons of existence.

Advantage: Brandon Montour and Vince Dunn bring offense from the blue line. The team can build around youngsters Matty Beniers and Shane Wright. Kaapo Kakko looked good after his arrival in a trade. Joey Daccord is solid in net.

Disadvantage: Unlike the Golden Knights, this recent expansion team has had little success, outside its second season. The Kraken’s team defense ranks in the bottom third of the league. Philipp Grubauer has struggled in net.

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Ashton Jeanty talks draft, fit in Las Vegas, 2025 goals

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The 2025 NFL Draft featured one of the best running back classes in the modern era.

It came at an opportune time, as teams are running the ball better than at any time in the last three decades. The league average of 119.8 rushing yards per game last season is behind only 2022 (121.6) for the most since 1988.

In a talented, deep class, most experts agreed on the top prospect: Boise State’s Ashton Jeanty.

Jeanty had one of the best seasons by a running back in college football history as the Broncos made their first appearance in the College Football Playoff. That was enough for the Las Vegas Raiders to select Jeanty with the No. 6 overall pick in the draft.

In doing so, Las Vegas made Jeanty the highest-drafted running back since Saquon Barkley in 2018. Here’s how he got there and his hopes for his rookie season in 2025.

Ashton Jeanty’s historic run at Boise State

A child of a military family, Jeanty moved a lot with stints in Florida, Georgia, Virginia and even Italy before settling in Frisco, Texas.

That helped him adapt quickly to multiple new environments as a young player.

‘In football, there’s always a change or there’s always something that doesn’t go your way,’ Jeanty said. ‘Being in a military family, always having to constantly pack up and move, I think (I could) connect with everybody on the team and build new relationships quickly.’

Jeanty played defensive line, safety and slot receiver before settling in as a running back as a senior at Lone Star High School. His 1,843 rushing yards and 41 total touchdowns earned him 15 college offers, with Boise State earning his commitment.

In 2023, Jeanty earned Mountain West Conference Offensive Player of the Year honors as the top running back in the league. Power 4 conference teams came calling for his services but he chose to stay with the Broncos.

Behind his near-historic season last fall, the Broncos made the College Football Playoff and faced off in the Fiesta Bowl against Penn State. The Broncos lost 31-14 but still achieved unprecedented success for the program.

‘That was everything,’ Jeanty said. ‘Just the fact that we were able to make it there and make history. … That’s what we had talked about starting in January and worked at it, took it day by day and able to accomplish it as a team.’

Jeanty finished the 2024 college season with 2,601 rushing yards. That’s the second-most since 1956 and only surpassed by Barry Sanders’ 1988 season (2,628 rushing yards).

Jeanty’s impact on Boise State isn’t over now that he’s in the NFL. Thanks to the money he earned through the school’s name, image, and likeness (NIL) fund, he set up the ‘Ashton Jeanty Endowed Scholarship for Football’ to help support future Boise State athletes.

‘Some of the things that you learn in school are invaluable,’ Jeanty said. ‘Growing up, experiencing life, experiencing being an adult for the first time, having to do things on your own. College really sets you up for later in life and the years 18 through 25, college is four of those years that can set you up for the rest of your life. … I’m hoping to give other people an opportunity.’

NFL draft night 2025

There was little doubt Jeanty would hear his name called early.

Roughly 75% of his 2,601 rushing yards in 2024 came after contact, and that alone would’ve easily led the country in rushing last season. That quantifies one of his most elite tools: contact balance. It’s Jeanty’s calling card as defenders bounce off of him as he churns out more yards.

‘Some of it’s God-given talent but also just the work I’ve put in from the weight room and studying how people tackle,’ Jeanty said of his contact balance. ‘Then it comes to game time and you see how a defender tackles you, how you can evade, avoid and bounce off defenders. For me, I like to make contact first so I can bounce off them but it takes a little thinking and processing to do it.’

That film time studying how defenders tackle keys Jeanty in to the best approach.

‘Guys who wrap up, guys who like to lead with their shoulders, guys who form tackle – do they tackle high or do they tackle low, are they someone to kind of sit and wait to see which direction you’re going or are they coming downhill?’ he said. ‘All of that just helps your analyzing and then you make your move.’

Las Vegas made its move on the clock at No. 6 overall. Raiders general manager John Spytek made the call to the top prospect.

‘We’re about to make you a Raider,’ Spytek told Jeanty over the phone. ‘As Mr. Davis would love me to say, welcome to the dark side, my friend.’

‘We’re proud to take you, proud to get you, this’ll be so much fun for you and for all of us,’ Raiders coach Pete Carroll told him.

Jeanty was a fan of former Seahawks and Raiders running back Marshawn Lynch as a kid, making the fit even better.

His first call after getting drafted was to Boise State running backs coach James Montgomery.

‘Shout-out to Verizon for putting it together and getting us on the phone,’ Jeanty said. ‘It was an amazing moment. First thing, he answered the call and we’re both laughing because that’s our relationship. We have a lot of fun together and sometimes it didn’t feel like he was my coach, he just felt like he was one of my guys.’

‘It was great being able to call him right after the moment because he’d done so much to help me get where I’m at,’ Jeanty added. ‘I don’t think people realize how important it is to have a great coach along with the skill set and abilities that you have to bring those to life.’

Ashton Jeanty’s goals for rookie season

Jeanty is one of many new faces on the Raiders’ offense for 2025. Las Vegas has a new starting quarterback in Geno Smith and a host of rookie wide receivers, including Jack Bech, Dont’e Thornton and Tommy Mellott to compliment star tight end Brock Bowers in the passing game.

‘They’ve already got some great pieces that they’ve added and I hope to be another piece that brings it all together,’ Jeanty said.

Las Vegas made Chip Kelly the highest-paid offensive coordinator in the league after hiring Carroll as head coach. Both coaches have traditionally looked to run first on offense, making Jeanty a key piece in that plan for success.

The Raiders face a relatively tough schedule in 2025. Six of their games come against AFC West foes who all made the playoffs in 2024. They’re also facing the reigning Super Bowl champion Philadelphia Eagles.

Jeanty’s keeping a wider perspective for his rookie season priorities.

‘The biggest goal for me is being a great teammate and having an early impact,’ Jeanty said. ‘Hopefully with the team, making the playoffs. Then individual success like Offensive Rookie of the Year, rushing for 1,000-plus yards, those will come with the team success.’

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