AGP Executive Report
Last update: 11 hours agoAI Policy Shake-Up: White House senior AI adviser Sriram Krishnan plans to leave at month-end, after helping draft the administration’s light-touch AI push and data-center buildout. Crypto Market Meltdown: Bitcoin slid toward $59K–$61K as the week turned into a worst rout since the FTX era, with crypto losing about $390B and leveraged liquidations topping $7B. Macro Pressure: A hotter-than-expected May jobs report (172K jobs) and Fed-hike expectations hit both stocks and crypto, while the Fed’s reverse repo facility shrank to just $761M, signaling liquidity drain. Corporate Crypto Losses: Strategy and Bitmine are staring at roughly $23B in combined paper losses as BTC/ETH fall, raising “refinancing wall” concerns more than forced selling. US Regulation Watch: House Ways and Means circulated seven digital-asset tax bills ahead of a June 9 hearing, while the SEC outlined priorities for tokenized securities and SEC-CFTC harmonization. Stablecoin Expansion: Ethena’s USDe launched on Mercado Bitcoin in Brazil, and TRON’s TRX added a regulated US spot path via Bitnomial. DeFi/Market Plumbing: Crypto Council for Innovation formed a Vault Coalition to shape US rules for yield vaults before regulators move.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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