💥Elon Musk Blasts Trump

☀️Good morning. It's Wednesday, Jun. 4, and we're covering, Nvidia Overtakes Microsoft To Become World's Most Valuable Company, Meta Strikes Landmark Deal To Power AI With Nuclear Energy, Elon Musk Blasts Trump’s Spending Bill As A ‘Disgusting Abomination’, and much more. First time reading? Sign up to get this newsletter: Sign up here. 

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $3.32 Trillion, a 0.14% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $105.53B, which makes a 5.98% decrease.

• The total volume in Defi is currently $37.18B, 9.68% of the total crypto market 24-hours.

• The volume of all stablecoins is now $99.87B, which is 94.64% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 63.10%, a decrease of 0.04% over the day.

Trump Media ‘Truth Social Bitcoin ETF’ Moves Closer To Launch

Trump Media is inching toward launching a Bitcoin ETF under the "Truth Social" brand, with a new NYSE filing putting it one step from reality. The ETF, sponsored by Yorkville Advisors and backed by Crypto.com as custodian, would track Bitcoin’s price and potentially tap into retail enthusiasm driven by Donald Trump’s vocal support of crypto. Though the filing doesn’t name Trump directly, the branding and timing suggest this is a politically charged play in an already saturated ETF market. (Read Deeper)

BUSINESS & FINANCE

Nvidia Overtakes Microsoft To Become World's Most Valuable Company

Nvidia has officially reclaimed the title of most valuable public company, surpassing Microsoft with a $3.45 trillion market cap after its stock jumped 3% on Tuesday. Fueled by insatiable demand for its AI chips, the backbone of tools like ChatGPT — Nvidia’s earnings and momentum have remained red-hot, despite concerns around export restrictions and tariffs. It’s the first time since January that Nvidia has topped the leaderboard, and its stunning 69% year-over-year revenue growth shows it’s not slowing down.

WHY IT MATTERS: Nvidia’s rise underscores how central AI infrastructure has become to the future of tech, and how Nvidia is powering that future. Its dominance in AI accelerators makes it the arms dealer of the AI race, with Big Tech giants racing to snap up its chips. For now, Nvidia doesn’t just supply the picks and shovels — it owns the gold rush. (Read Deeper)

Trump Says Xi Jinping Is “Extremely Hard” To Strike A Deal With As Trade Talks Stall

President Trump called China’s Xi Jinping “extremely hard to make a deal with” amid faltering trade negotiations and rising tensions between the world’s two largest economies. The U.S. and China have accused each other of undermining a recent truce that paused tariffs and trade restrictions. China has kept tight limits on rare earth exports, while the U.S. has moved to revoke student visas and block access to advanced tech.

WHY IT MATTERS: If no new deal is reached, expect tariff escalation, tech decoupling, and pressure on industries reliant on Chinese rare earths or U.S. semiconductor tools. A planned Trump-Xi call this week now hangs in the balance. (Read Deeper)

TECHNOLOGY & SCIENCE

Meta Strikes Landmark Deal To Power AI With Nuclear Energy

Meta has signed a 20-year power purchase agreement with Constellation Energy to help keep Illinois’ Clinton Clean Energy Center operational—a first-of-its-kind deal for the tech giant. The agreement ensures the nuclear plant, which generates carbon-free electricity, stays open after Illinois’ current subsidy program expires in 2027. With U.S. power demand spiking due to AI and data centers, Big Tech is increasingly turning to nuclear to lock in long-term, clean energy supply.

WHY IT MATTERS: This marks a new era in Big Tech’s energy strategy: not just buying renewable power, but actively helping to sustain and expand nuclear infrastructure. Meta’s move could set a precedent as AI accelerates demand for 24/7, high-capacity electricity. It also supports U.S. nuclear policy under Trump, as his administration pushes to boost domestic clean energy capacity and prevent reactor shutdowns. (Read Deeper)

Elon Musk Projects $15.5 Billion In 2025 Revenue For SpaceX

Elon Musk says SpaceX will generate $15.5 billion in revenue this year, more than 10x NASA’s $1.1B commercial space budget. With a record 170 launches targeted for 2025, surging Starlink adoption, and key defense contracts in play, SpaceX is cementing its lead in the global space economy. Its Starlink satellite internet business, now at breakeven—continues to drive much of that growth, while the company also ramps up work on its Starship system for future Mars missions.

WHY IT MATTERS: SpaceX is no longer just a launch company, it's becoming an integrated space and communications giant. Outpacing NASA’s commercial footprint and drawing billions from satellite broadband and defense, SpaceX is reshaping both the economics and geopolitics of space. A Starlink IPO could soon unlock even more capital. (Read Deeper)

AROUND DE WORLD & POLITICS

Elon Musk Blasts Trump’s Spending Bill As A ‘Disgusting Abomination’

Elon Musk has publicly broken with Donald Trump over the president’s signature tax and spending bill, calling it a “disgusting abomination” and warning it would balloon the U.S. deficit to $2.5 trillion. The bill dubbed the "big, beautiful bill" by Trump—includes massive tax breaks, increased defense funding, and a lifted debt ceiling. Musk’s exit from the administration last week after 129 days now appears more contentious than expected, with behind-the-scenes tensions reportedly tied to FAA satellite plans and EV tax cuts.

WHY IT MATTERS: This is Musk’s first major public rift with Trump, a man he recently supported with $250M in donations. The fallout reflects fractures within the GOP over runaway spending, and raises questions about how Musk's influence might shift going forward. His criticism could embolden fiscal conservatives and complicate passage in the Senate, where divisions are already emerging. (Read Deeper)

South Korean Opposition Leader Lee Jae-myung Wins Presidency

Opposition candidate Lee Jae-myung has been elected president of South Korea, defeating ruling party rival Kim Moon-soo. The vote follows months of chaos triggered by former president Yoon Suk Yeol’s failed martial law attempt and impeachment. While Lee’s win signals a rebuke of the ruling party and a demand for democratic restoration, his presidency begins under heavy clouds: a deeply polarized nation, pending legal battles, and tense trade talks with a second-term Trump administration.

WHY IT MATTERS: Lee’s victory is more than a political shift — it’s a reckoning with South Korea’s democratic institutions after a constitutional crisis. His win reflects a public demand for stability and accountability, but uniting a fractured electorate and navigating challenges with the U.S. will test his leadership from day one. The rise of anti-feminist figures like Lee Jun-seok and growing polarization show that South Korea’s political center is fragile and still very much in flux. ( Read Deeper)

ENTERTAINMENT & SPORTS

Simone Inzaghi Leaves Inter Milan After UCL Humiliation

Simone Inzaghi has left Inter Milan "by mutual agreement" just three days after a crushing 5-0 Champions League final loss to PSG. The 49-year-old, who led Inter to six trophies in four years, including a Serie A title and two Coppa Italias, is now strongly linked with Saudi side Al-Hilal—also set to compete in this summer’s expanded FIFA Club World Cup in the U.S. This ends a trophy-laden yet ultimately painful chapter for Inzaghi, who twice brought Inter to the Champions League final but failed to win either.(Read Deeper)

Eminem’s Music Publisher Sues Meta For $109M Over Copyright Infringement

Eight Mile Style the music publisher managing Eminem’s early catalog—is suing Meta for $109 million, accusing the tech giant of copyright infringement involving 243 songs. The company alleges Meta enabled unlicensed use of Eminem's music across platforms like Instagram and Facebook through features like Reels Remix and Original Audio. A jury trial has been requested. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Stablecoins are rapidly transforming the global financial landscape, evolving from niche digital assets to integral components of mainstream finance. (Listen)

EXTRA BREVITI

• Anthropic has launched Claude Explains, a blog "written" by its AI, Claude, with a heavy assist from human editors. ( Read More )

• Google has deepened its commitment to fusion energy by participating in a new $150 million funding round for TAE Technologies. (Read More)

• CrowdStrike Shares Drop After Downbeat Q2 Forecast Amid Weaker Cybersecurity Spending. (Read More)