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Crypto
U.S. inflation above 4 percent adds downside pressure on bitcoin and gold
U.S. consumer price inflation rose above 4 percent in May, raising the prospect that bitcoin and gold could face more pressure this year, a report said. The 4.2 percent annual gain weakened expectations for Federal Reserve rate cuts and prompted some to discuss the possibility of a rate hike within the year. Analysts cited real rates and limited liquidity as key factors, while CME futures implied a 98.4 percent chance rates stay unchanged at the June 17 FOMC meeting.
Crypto
U.S. consumer inflation jumps most in three years; bitcoin and ether hold up amid market jitters
U.S. May consumer prices posted the biggest annual rise in three years, stoking concerns the Federal Reserve could keep policy tight for longer. The CPI rose 4.2 percent from a year earlier and 0.5 percent from April, in line with expectations. Despite the data, cryptocurrencies pared losses and rebounded, with bitcoin edging up over 24 hours and ether and solana also rising. Analysts cited energy prices and geopolitical tensions as drivers.
AI & Enterprise
Ivy League schools bring back paper exams amid ChatGPT-era cheating
Roughly two years after generative AI became widely used, AI-assisted cheating spread quickly at Stanford University, prompting the school to reintroduce in-person exams in April after banning them for more than a century. Reports described students using AI in various schemes and in academic dishonesty. A campus survey of 849 computer science students found 49 percent would rather cheat than fail. Similar moves were reported at Princeton University.
