❕ Morgan Stanley and Others Limit Withdrawals Amid Rising Redemptions
Morgan Stanley is restricting withdrawals from its $7 billion North Haven Private Income Fund after 11.6% of investors sought redemptions this quarter, up slightly from before.
The bank is fulfilling only about 43% of requests.
Apollo paused withdrawals from a large private credit fund after redemption requests hit $2.4 billion (16.8%), imposing a 5% quarterly cap.
Partners Group, with an $8.6 billion fund, limited withdrawals after requests surged to 9.8%, nearly double its limit. The Swiss firm’s shares fell 13% in Zurich.
Blackstone Mortgage Trust issued a $343 million loan tied to a June 9 default on a Chicago skyscraper. The 2018 loan included about $159 million in commercial mortgage-backed securities.
Morgan Stanley is restricting withdrawals from its $7 billion North Haven Private Income Fund after 11.6% of investors sought redemptions this quarter, up slightly from before.
The bank is fulfilling only about 43% of requests.
Apollo paused withdrawals from a large private credit fund after redemption requests hit $2.4 billion (16.8%), imposing a 5% quarterly cap.
Partners Group, with an $8.6 billion fund, limited withdrawals after requests surged to 9.8%, nearly double its limit. The Swiss firm’s shares fell 13% in Zurich.
Blackstone Mortgage Trust issued a $343 million loan tied to a June 9 default on a Chicago skyscraper. The 2018 loan included about $159 million in commercial mortgage-backed securities.
Redemption gates are often an early sign that stress is spreading through hthe financial system.
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🇺🇸 US Senate Bans CBDC for Four Years
The US Senate passed a housing bill with an 85-5 vote that includes a four-year ban on the Federal Reserve issuing a digital dollar. The law prohibits the Fed from creating CBDCs or similar digital assets, either directly or through intermediaries, until the end of 2030.
Fed Chair Kevin Warsh called CBDCs a "bad political decision" during his confirmation hearings. Trump signed an executive order banning CBDCs back in January of this year.
The US Senate passed a housing bill with an 85-5 vote that includes a four-year ban on the Federal Reserve issuing a digital dollar. The law prohibits the Fed from creating CBDCs or similar digital assets, either directly or through intermediaries, until the end of 2030.
Fed Chair Kevin Warsh called CBDCs a "bad political decision" during his confirmation hearings. Trump signed an executive order banning CBDCs back in January of this year.
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😏 Ethereum Foundation to Cut Budget by 40%
Vitalik Buterin announced that the Ethereum Foundation will reduce its budget by approximately 40% this year. The plan includes shutting down the Privacy and Scaling Explorations (PSE) unit and narrowing its institutional strategy.
The foundation will also hold smaller, less expensive Devcon conferences and focus on specialized developer teams using AI for formal code verification. Currently, it spends about 15% of its reserves annually but aims to cut this to 5% per year after 2030.
Vitalik Buterin announced that the Ethereum Foundation will reduce its budget by approximately 40% this year. The plan includes shutting down the Privacy and Scaling Explorations (PSE) unit and narrowing its institutional strategy.
The foundation will also hold smaller, less expensive Devcon conferences and focus on specialized developer teams using AI for formal code verification. Currently, it spends about 15% of its reserves annually but aims to cut this to 5% per year after 2030.
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Everyone says they want a dip.
...until a dip shows up.
...until a dip shows up.
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😅 Kraken Negotiates 15% Stake in Aave
Kraken is negotiating to acquire a 15% stake in Aave at a $385 million valuation. The deal involves 35,000 ETH for 250,000 AAVE tokens and 15% of Aave Group shares, about $71 million. Part will be syndicated.
Earlier this year, Aave suffered a hack where attackers minted $292 million in unsecured rsETH, withdrew real assets, leaving a $190–230 million debt. After the deal news, AAVE price rose 9%.
Kraken is negotiating to acquire a 15% stake in Aave at a $385 million valuation. The deal involves 35,000 ETH for 250,000 AAVE tokens and 15% of Aave Group shares, about $71 million. Part will be syndicated.
Earlier this year, Aave suffered a hack where attackers minted $292 million in unsecured rsETH, withdrew real assets, leaving a $190–230 million debt. After the deal news, AAVE price rose 9%.
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☠️ 70% of Tokens on Pumpfun Stop Trading at Launch
Analysts at CoinGecko found that around 70% of tokens on the Pumpfun platform cease trading on their launch day. Researchers examined 18.6 million assets created from January 2024 to June 2026, with 12.8 million (68.6%) recording their last trade on release day.
Within the first two days, 80% of all launched coins stopped activity. Only 4.5% of assets traded beyond three months.
Analysts at CoinGecko found that around 70% of tokens on the Pumpfun platform cease trading on their launch day. Researchers examined 18.6 million assets created from January 2024 to June 2026, with 12.8 million (68.6%) recording their last trade on release day.
Within the first two days, 80% of all launched coins stopped activity. Only 4.5% of assets traded beyond three months.
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Altcoins are at their bottom. Choose coins that haven't been pumped yet and be patient 🔥
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Signs the alt bottom is in 🚨
- $BTC dominance death cross
- longest fear stretch in history
- higher lows printing on the daily
- volume returning on green candles
Miss the accumulation, chase the pump. Your call.
- $BTC dominance death cross
- longest fear stretch in history
- higher lows printing on the daily
- volume returning on green candles
Miss the accumulation, chase the pump. Your call.
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your summer if capital markets didn’t exist
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Citadel fueled fears that the Fed could raise interest rates, accelerating the selloff in AI stocks and scooping up much of Leopold Aschenbrenner's portfolio near the lows.
The AI-focused hedge fund, Situational Awareness, went bankrupt and sold all assets.
Once valued near $45 billion, it suffered heavy losses from falling AI infrastructure stocks, including SK Hynix.
Ashenbrenner launched the fund after leaving OpenAI in 2024 and gained fame for early strong results.
By Q1 2026, top holdings were Nebius Group, Sandisk, Micron, and CoreWeave, all down over 30% this month.
The AI-focused hedge fund, Situational Awareness, went bankrupt and sold all assets.
Once valued near $45 billion, it suffered heavy losses from falling AI infrastructure stocks, including SK Hynix.
Ashenbrenner launched the fund after leaving OpenAI in 2024 and gained fame for early strong results.
By Q1 2026, top holdings were Nebius Group, Sandisk, Micron, and CoreWeave, all down over 30% this month.
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This is who you're trading against.
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“Do so much work, it would be unreasonable for you to fail.”
-Chris Williamson
-Chris Williamson
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JUST IN: 🇺🇸 Michael Saylor says "Bitcoin doesn't need Clarity. America needs clarity."
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JUST IN: 🇺🇸 Trump Media terminates planned crypto deals with Crypto․com
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JUST IN: 🇺🇸 JPMorgan CEO Jamie Dimon says the US could lose its status as the world's reserve currency within the next 25 years.
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