BREAKING NEWS: President Joe Biden just endorsed Keisha Lance Bottoms for governor! From her time as mayor to serving in the Biden Administration, Keisha has a record of delivering for Georgians. #gapol#

Higher gasoline prices and mounting geopolitical tensions are doing little to slow the American consumer — at least judging by the latest results and commentary from Uber Technologies and The Walt Disney Company. The two companies pointed to a remarkably resilient spending backdrop, with consumers continuing to shell out for rides, food delivery, vacations and theme park trips even as oil prices climb and broader concerns about the economy linger. More details:

This is a concerning chart but grounded in reality. The surge in gasoline prices is likely leading commodity grains. The next wave of food inflation is already here.

NY FED SURVEY SHOWS STICKY INFLATION EXPECTATIONS, WEAKER FINANCIAL OUTLOOK The New York Fed’s April survey shows one-year inflation expectations rising to 3.6% from 3.4%, while longer-term outlooks remain unchanged at around 3%. Households expect slower home price growth and sharply lower gasoline prices, but report worsening views on credit access and rising unemployment risks, now at the highest level since April 2025. Overall, sentiment on personal finances remains mixed and cautious.

SUSPICIOUS OIL TRADES BEFORE IRAN WAR HEADLINES TOPPED $7B: REUTERS Well-timed bets on oil markets ahead of major Iran war announcements totaled at least $7 billion, far more extensive than previously reported, according to Reuters. The trades, placed across crude, gasoline, and diesel futures in March and April, spanned multiple exchanges and contracts, raising fresh scrutiny over possible insider positioning around market-moving developments.

Dependable freedom to travel is critical for a sustainable future 11k+ new Supercharger stalls opened, for a total of 65k+ Superchargers worldwide  Also, you can now Supercharge in 3 new countries And in total, the network delivered 5.2+ TWh, offsetting more than 5.5 billion kg of CO2 & more than 2.4 billion liters of gasoline

20 years ago this week, @daddy_yankee earned his first No. 1 album on the #TopLatinAlbums# charts with his historic LP ‘Barrio Fino.’📈 The album spent a whopping 24 weeks at No. 1 on the chart, making it the longest-leading No. 1 album of the 2000s decade. The album’s breakout song “Gasolina” also became Daddy Yankee’s first entry on the #HotLatinSongs# chart later that year, reaching No. 17. Take a look at the top 10 the week the album debuted at No. 1, and tap here for details:

In the Backpack tokenomics, we have one guiding principle. - Insiders "dumping on retail" should be impossible: no founder, executive, employee, or venture investor should receive wealth from the token until the product hits escape velocity. Of course it begs the question, what does it mean to "hit escape velocity". Every project is different, and it's impossible to generalize. For Backpack, the answer is clear: we want to IPO in the USA. Going public might happen quickly, it might happen not so quickly, and in fact, it might not happen at all. In any case, we're going for it. But before going public, we have to grow--a lot. The odd thing about Backpack's growth over the past year--and in fact one of the things that makes Backpack so different from basically every token project in crypto--is that, today, Backpack Exchange only serves about 48% of the world. We've been very slow, very intentional about opening up our product to the world, ensuring that we have every "i" dotted and ever "t" crossed as a regulated financial institution. Growth that sometimes feels like running with a parachute, but we are happy to take the long path, because it's precisely that parachute that will allow us to fly. For those that don't know us, the reason for this is simple. Backpack is trying to not only build great crypto products, but we're also trying to build great TradFi products. We're trying to not only give our users access to every crypto asset, every blockchain, and every decentralized application, but we're also getting banking rails around the world, USD client money accounts in the USA, EUR in the EU, JPY in Japan--every currency on every major payment network you can imagine. We're trying to build a great securities product, whether that's getting access to your favorite stocks in a traditional brokerage or bidding on primary shares of a company about to go public on NASDAQ. We want to serve not only retail users worldwide, but we want to serve regulated products for regulated counterparties and regulated institutions around the world. All of this takes an enormous amount of time, effort, blood, sweat, and tears. We've been working on this for over three years at this point, laying an international foundation for the company and for the product slowly but surely, brick by brick. If we're lucky, we'll spend a lifetime. What this all means is that, in the most literal sense--and I know this sounds silly--we're just getting started. We still have half the world to open up into. We still have some of our most exciting products to launch. And this leads to our next guiding principle in our tokenomics. - Liquid tokens should exclusively go to users, fueling growth triggered by key product milestones. Every time we open up a new region, every time we launch a new product, that's an opportunity to grow. Open up EU => grow. Open up Japan => grow. Open up the USA => grow. Open up predictions => grow. Open up stocks => grow. Open up card => grow. Like gasoline onto a fire, the token serves to continuously kickstart new markets in the same way points kickstarted Seasons 1-4. With every growth lever we pull, tokens unlock in a predictable way to users, bringing in a new wave of token holders, growing the community, and allowing the product to soar to new heights. The objective constraint for this to work is precise: the value of added growth created by new token unlocks must always be greater than the dilution of those unlocks. As long as that condition holds, we can continue to unlock tokens direct to our most active users, growing along the way. Last but not least is the question: Ok so if all the liquid tokens are going to users, then what about the team? How exactly do you remain incentive aligned while ensuring the team cannot unlock, dump on retail, and become enormously wealthy without building something great? And the answer is simple: not a single founder, executive, team member, or venture investor has been given a direct token allocation. The entire "team allocation" sits in a "corporate treasury", i.e. on the balance sheet of the Backpack company--locked until at least one year post IPO. The team owns equity in the company, and the company owns a large percent of the token supply. It's not until the company goes public (or has some other type of equity exit event), that the team can earn any wealth from the project. It's not until the company has access to the largest, most liquid capital markets in the world by going public--and it's not until the company has done all the hard work to earn access to those markets--that the team can reap the rewards of the value created by the Backpack community from now until then. We either go big, or we go home.