> IMF FLAGS AI DEBT AS BIGGER RISK THAN VALUATIONS
THE IMF SAYS AI-RELATED BORROWING POSES A BIGGER FINANCIAL STABILITY RISK THAN HIGH TECH STOCK VALUATIONS.
IMF OFFICIAL TOBIAS ADRIAN WARNED THAT MAJOR TECH FIRMS ARE TAKING ON MORE DEBT TO FUND AI INVESTMENTS, CREATING POTENTIAL RISKS IF PROFITABILITY WEAKENS.
HE ADDED THAT RECENT EARNINGS STRENGTH SUGGESTS CURRENT AI VALUATIONS ARE NOT YET SHOWING CLASSIC BUBBLE CHARACTERISTICS.
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THE IMF SAYS AI-RELATED BORROWING POSES A BIGGER FINANCIAL STABILITY RISK THAN HIGH TECH STOCK VALUATIONS.
IMF OFFICIAL TOBIAS ADRIAN WARNED THAT MAJOR TECH FIRMS ARE TAKING ON MORE DEBT TO FUND AI INVESTMENTS, CREATING POTENTIAL RISKS IF PROFITABILITY WEAKENS.
HE ADDED THAT RECENT EARNINGS STRENGTH SUGGESTS CURRENT AI VALUATIONS ARE NOT YET SHOWING CLASSIC BUBBLE CHARACTERISTICS.
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> EUROPEAN WEALTH RISES, BUT U.S. STAYS FAR AHEAD
EUROPEANS GREW WEALTHIER IN 2025, WITH AVERAGE WEALTH PER ADULT RISING 17%, HELPED BY A STRONGER EURO.
STILL, AVERAGE WEALTH IN EUROPE ($337,083) REMAINS LESS THAN HALF THAT OF THE U.S. ($696,277), ACCORDING TO UBS.
THE U.S. ALSO REMAINS HOME TO MORE THAN 40% OF THE WORLD'S MILLIONAIRES.
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EUROPEANS GREW WEALTHIER IN 2025, WITH AVERAGE WEALTH PER ADULT RISING 17%, HELPED BY A STRONGER EURO.
STILL, AVERAGE WEALTH IN EUROPE ($337,083) REMAINS LESS THAN HALF THAT OF THE U.S. ($696,277), ACCORDING TO UBS.
THE U.S. ALSO REMAINS HOME TO MORE THAN 40% OF THE WORLD'S MILLIONAIRES.
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> AI MEMORY BOOM ADDS TO U.S. INFLATION
WOLFE RESEARCH SAYS SOARING MEMORY CHIP PRICES, DRIVEN BY AI DEMAND, HAVE ADDED ABOUT 0.3 PERCENTAGE POINTS TO U.S. CORE INFLATION.
RISING DRAM AND NAND COSTS ARE PUSHING UP COMPUTER AND SMARTPHONE PRICES, WITH APPLE EXPECTED TO RAISE PRICES ON SEVERAL PRODUCTS.
WOLFE WARNS AI IS BECOMING AN INFLATION DRIVER RATHER THAN A DISINFLATIONARY FORCE.
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WOLFE RESEARCH SAYS SOARING MEMORY CHIP PRICES, DRIVEN BY AI DEMAND, HAVE ADDED ABOUT 0.3 PERCENTAGE POINTS TO U.S. CORE INFLATION.
RISING DRAM AND NAND COSTS ARE PUSHING UP COMPUTER AND SMARTPHONE PRICES, WITH APPLE EXPECTED TO RAISE PRICES ON SEVERAL PRODUCTS.
WOLFE WARNS AI IS BECOMING AN INFLATION DRIVER RATHER THAN A DISINFLATIONARY FORCE.
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> BESSENT SAYS CHINA REMAINS IRAN'S ONLY OIL BUYER
U.S. TREASURY SECRETARY SCOTT BESSENT SAID CHINA REMAINS THE ONLY MAJOR BUYER OF IRANIAN OIL, WHILE OTHER COUNTRIES ARE AVOIDING PURCHASES OVER FEARS U.S. SANCTIONS COULD RETURN.
HE SAID THIS GIVES TEHRAN AN INCENTIVE TO NEGOTIATE WITH WASHINGTON, WITH THE NEXT ROUND OF U.S.-IRAN TALKS EXPECTED TO TAKE PLACE IN DOHA.
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U.S. TREASURY SECRETARY SCOTT BESSENT SAID CHINA REMAINS THE ONLY MAJOR BUYER OF IRANIAN OIL, WHILE OTHER COUNTRIES ARE AVOIDING PURCHASES OVER FEARS U.S. SANCTIONS COULD RETURN.
HE SAID THIS GIVES TEHRAN AN INCENTIVE TO NEGOTIATE WITH WASHINGTON, WITH THE NEXT ROUND OF U.S.-IRAN TALKS EXPECTED TO TAKE PLACE IN DOHA.
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> SECOND-LARGEST ETHEREUM TREASURY COMPANY SHARPLINK BUYS 10,000 ETH, HOLDINGS REACH 886,725 ETH
SHARPLINK (NASDAQ: SBET), THE SECOND-LARGEST ETHEREUM TREASURY COMPANY, SAID IT BOUGHT 10,000 ETH AT AN AVERAGE PRICE OF ABOUT $1,611, BRINGING ITS TOTAL HOLDINGS TO 886,725 ETH AS OF JUNE 28, 2026. THE COMPANY ALSO REPURCHASED 2.13 MILLION SHARES AT AN AVERAGE PRICE OF $4.69 AND RAISED $75 MILLION LAST WEEK THROUGH A REGISTERED DIRECT OFFERING, SAYING ITS CAPITAL ALLOCATION REMAINS FOCUSED ON INCREASING ETH EXPOSURE PER SHARE. — LINK
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SHARPLINK (NASDAQ: SBET), THE SECOND-LARGEST ETHEREUM TREASURY COMPANY, SAID IT BOUGHT 10,000 ETH AT AN AVERAGE PRICE OF ABOUT $1,611, BRINGING ITS TOTAL HOLDINGS TO 886,725 ETH AS OF JUNE 28, 2026. THE COMPANY ALSO REPURCHASED 2.13 MILLION SHARES AT AN AVERAGE PRICE OF $4.69 AND RAISED $75 MILLION LAST WEEK THROUGH A REGISTERED DIRECT OFFERING, SAYING ITS CAPITAL ALLOCATION REMAINS FOCUSED ON INCREASING ETH EXPOSURE PER SHARE. — LINK
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> U.S. HOME PRICE GROWTH TOPS EXPECTATIONS
U.S. HOME PRICES ROSE 1.1% YEAR OVER YEAR ACROSS THE 20 LARGEST METRO AREAS IN APRIL, BEATING EXPECTATIONS AND ACCELERATING FROM MARCH, ACCORDING TO THE S&P CORELOGIC CASE-SHILLER INDEX.
ON A SEASONALLY ADJUSTED BASIS, PRICES WERE UNCHANGED, OUTPERFORMING FORECASTS FOR A SLIGHT DECLINE.
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U.S. HOME PRICES ROSE 1.1% YEAR OVER YEAR ACROSS THE 20 LARGEST METRO AREAS IN APRIL, BEATING EXPECTATIONS AND ACCELERATING FROM MARCH, ACCORDING TO THE S&P CORELOGIC CASE-SHILLER INDEX.
ON A SEASONALLY ADJUSTED BASIS, PRICES WERE UNCHANGED, OUTPERFORMING FORECASTS FOR A SLIGHT DECLINE.
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> DOZENS OF FINANCIAL FIRMS INCLUDING; VISA, STRIPE, MASTERCARD, BLACKROCK, AND COINBASE TO LAUNCH NEW STABLECOIN CALLED OUSD - WILL SHARE REVENUE AMONG PARTNERS: BBG
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> DOZENS OF FINANCIAL FIRMS INCLUDING; VISA, STRIPE, MASTERCARD, BLACKROCK, AND COINBASE TO LAUNCH NEW STABLECOIN CALLED OUSD - WILL SHARE REVENUE AMONG PARTNERS — LINK
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> DOZENS OF FINANCIAL FIRMS, INCLUDING VISA, MASTERCARD, STRIPE, BLACKROCK AND COINBASE, ARE REPORTEDLY LAUNCHING A NEW STABLECOIN, OUSD, WITH REVENUE SHARED AMONG PARTNERS
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> $MRK $ABBV - U.S. HOUSE COMMITTEE INVESTIGATES ABBVIE, MERCK CHINA DRUG TRIALS TO DETERMINE IF THEY FUELED CHINA'S MILITARY CAPABILITIES
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> CRYPTO FIRMS BECOME TOP U.S. POLITICAL DONORS
CRYPTO COMPANIES HAVE SPENT $189 MILLION ON THE 2026 U.S. MIDTERM ELECTIONS, SURPASSING THEIR 2024 TOTAL AND MAKING THE SECTOR THE LARGEST CORPORATE POLITICAL SPENDER.
THE INDUSTRY IS PUSHING FOR NEW CRYPTO LEGISLATION AFTER SECURING STABLECOIN REGULATION, WHILE AI, TECH AND ONLINE GAMBLING FIRMS HAVE ALSO SHARPLY INCREASED POLITICAL SPENDING.
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CRYPTO COMPANIES HAVE SPENT $189 MILLION ON THE 2026 U.S. MIDTERM ELECTIONS, SURPASSING THEIR 2024 TOTAL AND MAKING THE SECTOR THE LARGEST CORPORATE POLITICAL SPENDER.
THE INDUSTRY IS PUSHING FOR NEW CRYPTO LEGISLATION AFTER SECURING STABLECOIN REGULATION, WHILE AI, TECH AND ONLINE GAMBLING FIRMS HAVE ALSO SHARPLY INCREASED POLITICAL SPENDING.
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> BITCOIN ETFS SEE EIGHTH STRAIGHT OUTFLOW
BITCOIN ETFS RECORDED AN EIGHTH CONSECUTIVE DAY OF NET OUTFLOWS, WITH INVESTORS PULLING ANOTHER $231 MILLION, ACCORDING TO COINGLASS.
JUNE HAS SEEN $4.3 BILLION LEAVE BITCOIN ETFS—THE LARGEST MONTHLY OUTFLOW THIS YEAR—AS HIGHER INTEREST RATES BOOST DEMAND FOR BONDS OVER RISK ASSETS.
BITCOIN IS TRADING NEAR ITS YEARLY LOW.
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BITCOIN ETFS RECORDED AN EIGHTH CONSECUTIVE DAY OF NET OUTFLOWS, WITH INVESTORS PULLING ANOTHER $231 MILLION, ACCORDING TO COINGLASS.
JUNE HAS SEEN $4.3 BILLION LEAVE BITCOIN ETFS—THE LARGEST MONTHLY OUTFLOW THIS YEAR—AS HIGHER INTEREST RATES BOOST DEMAND FOR BONDS OVER RISK ASSETS.
BITCOIN IS TRADING NEAR ITS YEARLY LOW.
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> JUNE BLOCKCHAIN TECHNOLOGY UPDATE: BITCOIN CORE PRIVACY VULNERABILITY FIXED, GLAMSTERDAM POSTPONED, SOLANA SIMD OUTLOOK
BITCOIN CORE WARNS OF IP LEAK VIA PRIVATEBROADCAST; UPGRADE TO 31.1 AND DISABLE V2/PRIVATEBROADCAST. ETHEREUM, ZCASH, AND OTHERS REPORT UPGRADES, PRIVACY, AND SECURITY FIXES ACROSS NETWORKS. READ MORE: — LINK
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BITCOIN CORE WARNS OF IP LEAK VIA PRIVATEBROADCAST; UPGRADE TO 31.1 AND DISABLE V2/PRIVATEBROADCAST. ETHEREUM, ZCASH, AND OTHERS REPORT UPGRADES, PRIVACY, AND SECURITY FIXES ACROSS NETWORKS. READ MORE: — LINK
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> NEW YORK CITY APPROVES $125.8 BILLION BUDGET
NEW YORK CITY MAYOR ZOHRAN MAMDANI AND THE CITY COUNCIL AGREED ON A $125.8 BILLION BUDGET, ENDING DAYS OF TENSE NEGOTIATIONS.
THE DEAL INCLUDES $175 MILLION FOR THE CITY'S RENTAL ASSISTANCE PROGRAM AND MARKS THE FIRST BUDGET OF MAMDANI’S ADMINISTRATION BEFORE THE NEW FISCAL YEAR BEGINS.
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NEW YORK CITY MAYOR ZOHRAN MAMDANI AND THE CITY COUNCIL AGREED ON A $125.8 BILLION BUDGET, ENDING DAYS OF TENSE NEGOTIATIONS.
THE DEAL INCLUDES $175 MILLION FOR THE CITY'S RENTAL ASSISTANCE PROGRAM AND MARKS THE FIRST BUDGET OF MAMDANI’S ADMINISTRATION BEFORE THE NEW FISCAL YEAR BEGINS.
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> VISA, BLACKROCK AND COINBASE JOIN OPEN STANDARD’S NEW STABLECOIN OUSD
OPEN STANDARD ANNOUNCED OPEN USD (OUSD), A NEW STABLECOIN FOR GLOBAL PAYMENTS AND SETTLEMENT, WITH MORE THAN 140 COMPANIES JOINING ITS ECOSYSTEM, INCLUDING VISA, STRIPE, MASTERCARD, BLACKROCK, BNY, COINBASE, RIPPLE, GOOGLE, SHOPIFY, BYBIT, OKX AND SOLANA.
OUSD WILL USE A CONSORTIUM-GOVERNANCE MODEL, ALLOWING PARTNERS TO SHARE RESERVE EARNINGS AFTER A SMALL MANAGEMENT FEE AND PARTICIPATE IN GOVERNANCE RATHER THAN BEING CONTROLLED BY A SINGLE ISSUER. THE STABLECOIN WILL SUPPORT ZERO-FEE MINTING AND REDEMPTION, WITH NO ARTIFICIAL ISSUANCE LIMITS, AND IS EXPECTED TO GO LIVE LATER THIS YEAR. ZACH ABRAMS, CO-FOUNDER AND CEO OF STRIPE-OWNED BRIDGE, WILL SERVE AS OPEN STANDARD’S FOUNDING CEO.
FOLLOWING THE DEVELOPMENT, CRCL FELL NEARLY 13% INTRADAY TO $66.10. CIRCLE CO-FOUNDER AND CEO JEREMY ALLAIRE SAID STABLECOINS REPRESENT A KEY DIRECTION IN THE TRANSFORMATION OF INTERNET-BASED MONEY INFRASTRUCTURE. HE ADDED THAT USDC REMAINS ONE OF THE MOST WIDELY ADOPTED INSTITUTIONAL STABLECOINS, AND THAT CIRCLE WILL CONTINUE TO EXPAND THE USDC ECOSYSTEM, DEEPEN PARTNERSHIPS WITH BANKS, PAYMENT COMPANIES AND CAPITAL MARKETS FIRMS, AND SUPPORT THE GROWTH OF ADDITIONAL DOLLAR AND NON-DOLLAR STABLECOINS. — LINK
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OPEN STANDARD ANNOUNCED OPEN USD (OUSD), A NEW STABLECOIN FOR GLOBAL PAYMENTS AND SETTLEMENT, WITH MORE THAN 140 COMPANIES JOINING ITS ECOSYSTEM, INCLUDING VISA, STRIPE, MASTERCARD, BLACKROCK, BNY, COINBASE, RIPPLE, GOOGLE, SHOPIFY, BYBIT, OKX AND SOLANA.
OUSD WILL USE A CONSORTIUM-GOVERNANCE MODEL, ALLOWING PARTNERS TO SHARE RESERVE EARNINGS AFTER A SMALL MANAGEMENT FEE AND PARTICIPATE IN GOVERNANCE RATHER THAN BEING CONTROLLED BY A SINGLE ISSUER. THE STABLECOIN WILL SUPPORT ZERO-FEE MINTING AND REDEMPTION, WITH NO ARTIFICIAL ISSUANCE LIMITS, AND IS EXPECTED TO GO LIVE LATER THIS YEAR. ZACH ABRAMS, CO-FOUNDER AND CEO OF STRIPE-OWNED BRIDGE, WILL SERVE AS OPEN STANDARD’S FOUNDING CEO.
FOLLOWING THE DEVELOPMENT, CRCL FELL NEARLY 13% INTRADAY TO $66.10. CIRCLE CO-FOUNDER AND CEO JEREMY ALLAIRE SAID STABLECOINS REPRESENT A KEY DIRECTION IN THE TRANSFORMATION OF INTERNET-BASED MONEY INFRASTRUCTURE. HE ADDED THAT USDC REMAINS ONE OF THE MOST WIDELY ADOPTED INSTITUTIONAL STABLECOINS, AND THAT CIRCLE WILL CONTINUE TO EXPAND THE USDC ECOSYSTEM, DEEPEN PARTNERSHIPS WITH BANKS, PAYMENT COMPANIES AND CAPITAL MARKETS FIRMS, AND SUPPORT THE GROWTH OF ADDITIONAL DOLLAR AND NON-DOLLAR STABLECOINS. — LINK
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