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Quantum computing has become a hot topic in the Bitcoin ecosystem. In March, Google Quantum AI and Oratomic/Caltech published whitepapers within hours of each other, each restating the resource estimates for breaking the cryptographic signature schemes that underlie property rights in the Bitcoin network. Each compressed the resources necessary to run Shor's algorithm and break Bitcoin’s 256-bit Elliptic-Curve Cryptography (ECC-256). That milestone has shifted the quantum threat from "decades away" to "within a decade, possibly."

In this month's "In The Know," ARK Chief Executive Officer (CEO) and Chief Investment Officer (CIO) Cathie Wood responds to a Bill Ackman tweet on interest costs and inflation, then walks through the charts behind her recent letter. Most people think they know what is pushing rates higher. Her read is different, and the chart she uses to make the case goes back to 1790. She also covers a 99.99% annual decline in artificial intelligence (AI) inference costs and what that does to prices across the economy, gold peaking right as President Trump named Kevin Warsh as Federal Reserve (Fed) Chairman, and a money growth rate near 5.7% that still is not showing up in inflation. Plus 90% of the world's data center financing landing in the United States, and what the credit default swap chart she saved for last says about hyperscalers.

Now in the financial services sector for more than 40 years, I am struck that most trends in the US economy are “back to the future,” except interest rates. The secular decline in interest rates started from 15-20% in the early eighties and ended at 0.5-2% during the COVID-related crash in 2020. Now, interest rates are hitting “higher highs” for the first time in more than 40 years; yet, the US equity market has been climbing toward all-time highs, puzzling many concerned investors. In this paper, we share our thoughts on the technology revolution that could push real Gross Domestic Product (GDP) growth and interest rates higher while inflation falls and the yield curve inverts. Not since the Industrial Revolution have we witnessed this confluence of economic indicators.

In this month’s “In The Know,” Cathie connects the Industrial Revolution to today’s technology revolution. She explains why the yield curve was inverted more than 60% of the time before the Depression and could invert again, what Fed (Federal Reserve) Chairman Kevin Warsh's Jackson Hole speech reveals about which inflation gauge actually matters, and why Abu Dhabi leaving Organization of the Petroleum Exporting Countries (OPEC) could send oil back toward $30. Plus: a 162,000 payroll surprise and Bitcoin finally breaking out against gold.

This paper is the first in a two-part series that outlines the origins of LayerZero, the cross-chain messaging protocol now connecting most of the multi-chain world, and its impending launch of Zero, an effort to rebuild the Layer 1 stack from first principles.

For 30 years, the standard of care for sickle cell disease was a drug that managed symptoms without touching the underlying genetic defect. In December 2023, the Food And Drug Administration (FDA) approved a functional cure. CASGEVY, built by CRISPR Therapeutics and commercialized with Vertex Pharmaceuticals, has treated less than 0.1% of its 60,000 eligible patients. ARK's bottoms-up model sees roughly $5 billion in cumulative revenue through 2029, versus Wall Street consensus of $1 to 2 billion.

Tesla can produce more vehicles in a day than Waymo has in its entire fleet. Tasha Keeney explains why that scale advantage, plus billions of miles of fleet data, makes Tesla a leader in a robotaxi market ARK believes could reach $30 trillion in enterprise value by 2030.

In this month's "In The Know," Cathie explains why inference costs collapsing 99.99% per year set the stage for an entrepreneurial explosion, why the United Arab Emirates (UAE) pumping a record 4.1 million barrels per day suggests oil prices have peaked, and why Truflation's 1.5% core inflation reading, far below the official numbers, means the Federal Reserve (Fed) will not tighten. Plus: the yield curve is behaving the way it did during the Industrial Revolution, and Bitcoin is finding its legs against gold.

What happens when a trading app becomes your bank, your broker, and your retirement account all at once? Nick Grous joins ARK's Stock Story to explain how Robinhood's Gold subscription, now at 4.2 million subscribers, is driving that shift, and why ARK sees attachment rates more than doubling by 2031.

AMD had nearly zero server CPU market share in 2017. By Q1 2026, they controlled 46% of server CPU revenue. Frank Downing, ARK's Director of Research, AI and Cloud, breaks down why AMD is now running the same playbook against NVIDIA in AI accelerators.