🇨🇦 G7 Leaders Meet In Canada

🌞Good morning. It's Monday, Jun. 16,and we're covering, Oil Surges As Israel-Iran Escalation Threatens Global Energy Flows, Taiwan Blacklists China’s Huawei And SMIC, G7 Leaders Meet Amid Israel-Iran Conflict And Trump Tensions, 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 $3.34 Trillion, a 1.90% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $95.82B, which makes a 0.65% increase.

• The total volume in Defi is currently $29.86B, 31.16% of the total crypto market 24-hours.

• The volume of all stablecoins is now $91.04B, which is 95.01% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 63.71%, an increase of 0.27% over the day.

Trump Made $57.7 Million From Crypto Venture

Donald Trump earned $57.7 million from a crypto venture he co-founded with his sons, according to newly released federal financial disclosures. The firm, World Liberty Financial, launched before the 2024 election and sells Trump-themed tokens. While crypto was a lucrative stream, it wasn’t Trump’s biggest: his Miami-based golf enterprise brought in $110 million, and Mar-a-Lago added over $50 million in revenue. (Read Deeper)

BUSINESS & FINANCE

Oil Surges As Israel-Iran Escalation Threatens Global Energy Flows

The Israel-Iran conflict just sent oil markets into panic mode. Brent crude spiked over 5% after Israel struck Iran’s massive South Pars gas field, triggering explosions and a production halt. At the heart of the tension is the Strait of Hormuz, the narrow shipping lane through which 1 in every 5 barrels of oil flows. Any move by Iran to block it would send prices into the stratosphere — and markets know it.

Why It Matters: Global energy markets are now pricing in war risk. This is the most serious threat to oil supply security in years — and it’s no longer theoretical. With Brent hovering just below $80 and risks mounting, oil is suddenly back in the spotlight — not because of supply and demand, but missiles and military posturing. (Read Deeper)

Google Plans Split From Scale AI After Meta Buys Nearly Half Stake

Google is preparing to cut ties with Scale AI, its largest AI data-labeling vendor — following Meta’s move to acquire a 49% stake in the startup. Google had been slated to pay Scale around $200 million this year for high-quality human-labeled data critical to training its Gemini AI models, but is now scrambling to shift that work to Scale’s rivals. The move reflects growing fears among AI developers that Meta could gain competitive insights through Scale’s privileged access to proprietary datasets.

Why It Matters: This marks a major rift in the AI arms race. As model builders become more secretive and competitive, vendor neutrality is no longer just a preference — it’s a survival requirement. Meta’s big bet on Scale AI could supercharge its AI push, but risks gutting Scale’s value to the rest of the industry. (Read Deeper)

TECHNOLOGY & SCIENCE

Taiwan Blacklists China’s Huawei And SMIC

Taiwan has added Chinese tech giants Huawei and SMIC to its Strategic High-Tech Commodities Entity List, aligning more closely with U.S. trade restrictions. Taiwanese firms must now get government approval before exporting tech to these entities. The crackdown comes amid rising China-Taiwan tensions, with Beijing reiterating its push for reunification and opposing Taiwan’s sovereignty.

Why It Matters: Taiwan is no longer just following U.S. tech policy — it’s fortifying its own legal firewall against China. This sharpens the line between the U.S.-led tech ecosystem and China’s push for semiconductor self-reliance. (Read Deeper)

New Model Could Revolutionize Search For Alien Life

A team of NASA-backed scientists has developed a new model, the quantitative habitability framework — to better identify which distant planets or moons might truly be capable of hosting life. Unlike the traditional "follow the water" mantra, this model uses a data-driven, probabilistic approach to compare specific organisms (Earth-based or hypothetical) with what’s known about alien environments, including places like Mars, Europa, or exoplanets.

Why It Matters: The search for life beyond Earth hinges not just on spotting alien planets but on knowing where life might actually exist. This model offers a smarter, more nuanced way to prioritize targets and interpret biosignatures. In a field filled with hype and false starts, it may help us zero in on the real thing. (Read Deeper)

AROUND DE WORLD & POLITICS

G7 Leaders Meet Amid Israel-Iran Conflict And Trump Tensions

Leaders of the Group of Seven (G7) nations are gathering in Canada’s Rockies for a tense summit dominated by the escalating Israel-Iran conflict, the war in Ukraine, and the unpredictable presence of President Donald Trump. Canadian PM Mark Carney, hosting the summit in Kananaskis, wants to focus on global peace, critical mineral supply chains, and jobs. But as Israel and Iran exchange deadly strikes, G7 leaders are expected to release a joint statement urging de-escalation.

Why It Matters: Germany’s Chancellor Friedrich Merz stressed support for Israel’s right to defend itself and a push to prevent Iran from acquiring nuclear weapons. This summit is a key early test of Trump’s second-term foreign policy, is the U.S. still committed to multilateral leadership, or is global cooperation at risk? Allies are preparing for both possibilities. (Read Deeper)

Iran Renews Missile Strikes On Israel, Killing 3 In Escalating Conflict

Iran launched a fresh wave of missile attacks on Israel early Monday, killing three civilians and injuring over 70, in a dramatic escalation of hostilities that began Friday. About 100 missiles were fired, with strikes hitting four central Israeli cities, including Petah Tikva, where a residential building was destroyed. Israel’s defense systems intercepted many missiles, but dozens of civilians were still wounded—some critically. On Sunday, Israel bombed Iranian oil refineries, government buildings, and claimed to have killed the Revolutionary Guard’s intelligence chief.

Why It Matters: The conflict is entering a deadlier, less restrained phase, with both sides broadening their targets and increasing civilian exposure. Iran reports 224 killed and over 1,200 wounded, though rights groups suspect the real toll is higher. (Read Deeper)

ENTERTAINMENT & SPORTS

PSG Cruise In Club World Cup Debut, But Heat Sparks Player Safety Concerns

Paris Saint-Germain kicked off their first-ever FIFA Club World Cup campaign in style, defeating Atletico Madrid 4–0 in a dominant performance at the Rose Bowl in Pasadena. Goals from Fabian Ruiz, Vitinha, Senny Mayulu, and Lee Kang-in capped a commanding display, with Vitinha named player of the match. But the bigger story may have been the heat. With kickoff at midday and temperatures soaring to 31°C (88°F), players took cooling breaks and draped themselves in towels during stoppages. (Read Deeper)

Trump, Paramount In “Active Settlement Discussions” Over 60 Minutes Lawsuit

President Donald Trump and Paramount Global are in ongoing settlement talks over a lawsuit Trump filed against the company concerning a 60 Minutes interview with Vice President Kamala Harris. Trump alleges that the CBS-aired interview was deceptively edited to favor Harris politically, violating Texas consumer protection laws and the Lanham Act’s unfair competition clause. Paramount reportedly offered $15 million to settle earlier this year, but the case has continued amid mediation and FCC scrutiny under its "news distortion" rules. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Ali Ghodsi predicts the future of software is “AI-native”, integrating intelligence directly into data platforms. He envisions today’s databases evolving into self-driving, decision-making engines—what Databricks now calls a “Data Intelligence Platform”. (Listen)

EXTRA BREVITI

• Anne Wojcicki, co-founder of 23andMe, is buying back the bankrupt DNA-testing company through her nonprofit TTAM Research Institute. (Read More)

• Former President Donald Trump blocked a proposed Israeli plan to assassinate Iran’s Supreme Leader Ayatollah Ali Khamenei. (Read More)

• Tragedy at 15,000ft: Skydiving Accident Claims Lives of Mother and Instructor. (Read More)

• Gunmen killed at least 100 people in a brutal overnight assault on the town of Yelwata in Benue State, Nigeria (Read More)

• Suspect in Minnesota Lawmaker Shootings Captured After 36-Hour Manhunt. (Read More)