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DeepSeek impact: Nvidia, stocks tumble

January 28, 2025
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DeepSeek impact: Nvidia, stocks tumble

A Chinese AI company named DeepSeek has piqued interest in America, creating a stir on Wall Street with its new technology that matches OpenAI’s ChatGPT. DeepSeek’s AI app has stunned investors due to its low development cost, an estimated $6 million, roughly minuscule when compared to the potential $1 trillion investment in AI by major U.S. companies over the upcoming years.

DeepSeek’s debut caused considerable volatility in shares of AI giants. NASDAQ took a hit with a 3% slump and a 612-point drop on the S&P 500 in contrast. Energy-related stocks also suffered losses over reduced energy demand expectations.

Founded in July 2023, DeepSeek is the brainchild of Zhejiang University’s graduate, Liang Wenfeng, and is supported by his fund, BoltV Portfolio.

Despite concerns over possible over-valuation of tech stocks buoyed by AI prospects, DeepSeek’s launch indicates the race for innovation will remain competitive. While some experts praised its groundbreaking advancements, there are concerns about its ability to disrupt major U.S. businesses.

However, it’s not all doom and gloom on Wall Street. Some believe that DeepSeek’s technology, while disruptive, is not revolutionary, and Monday’s investment rout is likely an overreaction. Yet concerns remain, especially with the potential undercutting of Nvidia, a dominant player in AI technology, by DeepSeek’s low-cost tech.

As the dust settles, it’s clear that DeepSeek is a disruptive influence in the AI industry, setting a potential new benchmark for cost-effective, innovative technology. As DeepSeek continues to scale and potentially disrupt the AI industry, Wall Street is sure to keep a close eye on its continued development.

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        Cryptocurrency apps in the U.S. have surged in popularity due to factors such as the potential for profit, low transaction fees, and increasing user accessibility. These platforms allow users to trade cryptocurrencies easily, offering a decentralized, peer-to-peer model that reduces reliance on traditional financial institutions. 
The ability to buy low and sell high has attracted investors seeking financial gains, while lower fees compared to traditional payment methods make these apps more appealing for online transactions. The increased acceptance of cryptocurrencies by businesses, along with advancements in blockchain technology, security, ease of use, and high liquidity, is fueling the belief that crypto could shape the future of finance.
PYMNTS’ Provider Rankings of Cryptocurrency Apps evaluate the performance of leading platforms based on factors such as user experience, transaction volume, security features and customer service. By analyzing consumer preferences and industry trends, these rankings provide insights into which apps are best meeting the needs of cryptocurrency users, and highlighting the platforms that offer the most reliable, user-friendly and innovative services.
The Top 5
No. 1 is Binance with 98 points.
Founded in 2017, Binance offers a range of services for new and experienced investors. The platform supports over 350 cryptocurrencies, including popular options like bitcoin and ethereum, along with niche altcoins. This variety, combined with high liquidity, ensures users can quickly execute transactions with minimal price slippage.
A key feature of Binance is its competitive fee structure, which includes discounts for paying with Binance Coin (BNB), making it attractive for frequent traders. The platform also provides advanced trading tools, such as charting and real-time data, and offers margin and futures trading. Its user-friendly interface, including a mobile app, makes it accessible to traders of all experience levels.
Security is a top priority for Binance, with multi-signature wallets, two-factor authentication (2FA), and a Secure Asset Fund for Users (SAFU) protecting funds and personal information. Binance also offers staking, lending and savings options for passive income, appealing to long-term investors. 
No. 2 is Bybit with 91 points.
Bybit is accessible in over 180 countries and offers an intuitive mobile app that provides most of the desktop version’s features, making it convenient for users to manage their crypto investments anywhere. With access to more than 1,200 cryptocurrencies, Bybit allows users to buy, sell, and trade with ease, while offering up to 100x leverage for experienced traders looking to maximize potential profits.
Additionally, Bybit offers Bybit Earn, a feature that allows users to earn interest on their cryptocurrency holdings. This range of services and tools caters to beginner and experienced traders, making it a popular choice in the crypto space.
Tied for second with 91 points is Crypto.com.
Based in Singapore, Crypto.com offers a wide range of services including an app, exchange, DeFi wallet, and NFT marketplace, providing access to over 350 cryptocurrencies. The Crypto.com app allows users to buy, sell and track cryptocurrencies with more than 20 fiat currencies, offering features like price alerts, recurring buys, and TWAP bots to optimize trading. Users can also earn interest on their holdings, spend crypto through the Crypto.com Visa Card, and receive up to 5% cash back on purchases.
For more advanced traders, Crypto.com’s exchange supports over 200 cryptocurrencies, with spot, margin and derivatives trading options. It offers low fees and discounts for those who stake its native token, CRO. The platform also includes automated trading bots and emphasizes security with 2FA. 
KuCoin and Coinbase round out the top five with 83 and 76 points, respectively.
Nos. 6-10
Checking in tied at No. 6 with 74 points is HTX and OKX. 
Nos. 8-10 comprise MEXC, Blockchain.com, and BTCC with 65, 62, and 54 points, respectively.
        
    

        
            
            
                
                    See More In:                    Binance, Blockchain.com, BTCC, ByBit, coinbase, crypto.com, Cryptocurrency, cryptocurrency apps, HTX, Kucoin, MEXC, News, OKX, provider rankings, Provider Rankings of Cryptocurrency Apps, PYMNTS News
                
            
        

        
     – Write an article tittle within 60 characters, no colon. Only output the tittle

Cryptocurrency apps in the U.S. have surged in popularity due to factors such as the potential for profit, low transaction fees, and increasing user accessibility. These platforms allow users to trade cryptocurrencies easily, offering a decentralized, peer-to-peer model that reduces reliance on traditional financial institutions.

The ability to buy low and sell high has attracted investors seeking financial gains, while lower fees compared to traditional payment methods make these apps more appealing for online transactions. The increased acceptance of cryptocurrencies by businesses, along with advancements in blockchain technology, security, ease of use, and high liquidity, is fueling the belief that crypto could shape the future of finance.

PYMNTS’ Provider Rankings of Cryptocurrency Apps evaluate the performance of leading platforms based on factors such as user experience, transaction volume, security features and customer service. By analyzing consumer preferences and industry trends, these rankings provide insights into which apps are best meeting the needs of cryptocurrency users, and highlighting the platforms that offer the most reliable, user-friendly and innovative services.

The Top 5

No. 1 is Binance with 98 points.

Founded in 2017, Binance offers a range of services for new and experienced investors. The platform supports over 350 cryptocurrencies, including popular options like bitcoin and ethereum, along with niche altcoins. This variety, combined with high liquidity, ensures users can quickly execute transactions with minimal price slippage.

A key feature of Binance is its competitive fee structure, which includes discounts for paying with Binance Coin (BNB), making it attractive for frequent traders. The platform also provides advanced trading tools, such as charting and real-time data, and offers margin and futures trading. Its user-friendly interface, including a mobile app, makes it accessible to traders of all experience levels.

Security is a top priority for Binance, with multi-signature wallets, two-factor authentication (2FA), and a Secure Asset Fund for Users (SAFU) protecting funds and personal information. Binance also offers staking, lending and savings options for passive income, appealing to long-term investors.

No. 2 is Bybit with 91 points.

Bybit is accessible in over 180 countries and offers an intuitive mobile app that provides most of the desktop version’s features, making it convenient for users to manage their crypto investments anywhere. With access to more than 1,200 cryptocurrencies, Bybit allows users to buy, sell, and trade with ease, while offering up to 100x leverage for experienced traders looking to maximize potential profits.

Additionally, Bybit offers Bybit Earn, a feature that allows users to earn interest on their cryptocurrency holdings. This range of services and tools caters to beginner and experienced traders, making it a popular choice in the crypto space.

Tied for second with 91 points is Crypto.com.

Based in Singapore, Crypto.com offers a wide range of services including an app, exchange, DeFi wallet, and NFT marketplace, providing access to over 350 cryptocurrencies. The Crypto.com app allows users to buy, sell and track cryptocurrencies with more than 20 fiat currencies, offering features like price alerts, recurring buys, and TWAP bots to optimize trading. Users can also earn interest on their holdings, spend crypto through the Crypto.com Visa Card, and receive up to 5% cash back on purchases.

For more advanced traders, Crypto.com’s exchange supports over 200 cryptocurrencies, with spot, margin and derivatives trading options. It offers low fees and discounts for those who stake its native token, CRO. The platform also includes automated trading bots and emphasizes security with 2FA.

KuCoin and Coinbase round out the top five with 83 and 76 points, respectively.

Nos. 6-10

Checking in tied at No. 6 with 74 points is HTX and OKX.

Nos. 8-10 comprise MEXC, Blockchain.com, and BTCC with 65, 62, and 54 points, respectively.

– Write an article tittle within 60 characters, no colon. Only output the tittle

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