eBay rejects GameStop's $56 billion takeover bid, and hot inflation data crushes rate-cut hopes for the rest of the year.

eBay's board rejected GameStop's $56 billion takeover offer, calling it neither credible nor attractive.

The deal needed $20 billion in TD bank financing,

but that money was contingent on an investment-grade credit rating. Moody's had already warned

the deal would be credit-negative for eBay, making that condition nearly impossible to meet.

Mara Holdings sold $1.5 billion worth of Bitcoin last quarter, dropping to the fourth largest public Bitcoin

holder. The company said it has no plans for large-scale ASIC purchases, a clear signal that

mining expansion is no longer its priority. Up to 90% of MARA's non-hosted capacity could

eventually be redirected towards AI and high-performance computing. April inflation came in hotter than expected on every measure,

reinforcing the case for the Fed's keep rates on hold through the end of the year.

CPI rose 3.8% year-over-year in April, above the 3.7% forecast.

On a monthly basis, prices jumped 0.6%, double what economists had expected. That backdrop

greets Kevin Warsh, who is set to take over as Federal Reserve Chair on May 15th. Get more updates

on CoinDest.com.