Axios

Nvidia and AMD unveiled new AI chips in back-to-back announcements Sunday and Monday, respectively.

Why it matters: There's no such thing as "too soon" when it comes to grabbing market share in this space.

A New York Stock Exchange technical error triggered trading halts in shares of Chipotle, Berkshire and others Monday morning.

The big picture: The glitch comes a week after U.S. stock exchanges switched to one-day settlement. However, the FT cited a person familiar with the matter as saying Monday's issue was not connected to that change.

Coinbase filed a heated brief in its case against the SEC in the Third Circuit's Court of Appeals.

The big picture: America's largest crypto exchange is leading the charge to force the country's leading financial regulator to give the digital asset industry clearer policies to allow the industry to operate in compliance.

• Notably, there are two suits between the parties underway. One where Coinbase is the plaintiff suing for rules, and another where the SEC is suing Coinbase for breaking the rules it argues it already has.

Zoom in: In Coinbase's suit against the SEC, it draws attention to the agency's denial of its 2022 petition for new rules that pertain to the digital asset industry.

A high-quality mobile game is planned for the Pudgy Penguins NFT line next year, courtesy of a new partnership with Mythical Games.

Why it matters: Pudgy Penguins has been winning 2024, getting its intellectual property into Walmart and Target as physical toys, as well as dramatically increasing the value of its NFTs.

Yes, but: To stick the landing, it will need to be a good game.

• Pudgy Penguins' second CEO, Luca Netz, told Axios in February that he believed the social aspect is what makes games fun.

Context: NFTs offer, potentially, a built-in fanbase for products built around the underlying IP.

By the numbers: Floor prices (the value of the most common items in an NFT collection) have quintupled since Netz took over the Penguins, going from about 2 ETH to 10 ETH today (roughly $37,000).

Have you been wondering what SBF's chief mentor in doing good thought about the FTX debacle?

• William MacAskill, the famous evangelist for Effective Altruism (EA), has finally spoken up about what he thinks went wrong at the failed exchange.

Worth your time: He wrote about it on the EA forum, and discussed it on the Sam Harris podcast, "Making Sense" and the "Clearer Thinking" podcast.

• Big picture, he seems convinced by a book by Eugene Soltes about white-collar criminals, which explains they often fall into embezzlement without meaning to.
• It's worth noting, however, that Caroline Ellison testified that SBF directed Alameda Research to begin siphoning FTX customer funds well before the crypto markets became strained.

The ability of companies to raise prices without crushing demand may be petering out.

Why it matters: Shoppers have splurged in the face of rising prices for the last three years. Now, there are early signs the spending era is coming to an end, forcing executives to limit price hikes to maintain sales.

The vibecession is so back.

The big picture: "I think we are in one now more than ever and I think it will get worse in the election," says Kyla Scanlon, who coined the term and is the author of the new book, "In This Economy?"