🚨 Just 3yrs Left To Save The Planet

☀️Good morning. It's Thursday, Jun. 19,and we're covering, OpenAI Cuts Ties With Scale AI After Meta Deal, Texas Lawmakers Urge Tesla To Delay Robotaxi Launch Over Safety, World Has Just 3 Years To Avoid 1.5°C Climate Breach, Scientists Warn, 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 $3.25 Trillion, a 0.66% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $110.25B, which makes a 9.17% decrease.

• The total volume in Defi is currently $31.35B, 28.44% of the total crypto market 24-hours.

• The volume of all stablecoins is now $106.85B, which is 96.91% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 64.04%, an increase of 0.03% over the day.

Coinbase And Circle Shares Soar After Senate Passes Stablecoin Bill

Wall Street rallied behind stablecoin giants Circle and Coinbase on Wednesday after the Senate passed the landmark GENIUS Act, providing a long-awaited federal framework for U.S. dollar-pegged stablecoins. Circle, issuer of USDC, soared 33%, continuing a post-IPO rally that’s taken the stock up nearly 6x since June 5. Coinbase, which splits USDC revenue 50/50 with Circle, jumped 16% and unveiled a new merchant payments product using stablecoins. The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) is the first major crypto legislation to clear the Senate. (Read Deeper)

BUSINESS & FINANCE

OpenAI Cuts Ties With Scale AI After Meta Deal

OpenAI is phasing out its work with Scale AI, just days after Meta took a 49% stake in the data-labeling startup and hired its founder, Alexandr Wang, to lead a new “superintelligence” division. OpenAI said the decision was already underway before the Meta deal, citing the need for more specialized data providers as it builds more advanced AI systems. This comes as Google is also reportedly cutting ties with Scale, reflecting industry-wide unease about Meta potentially gaining visibility into rivals' model development via its new stake.

Why It Matters: Meta investment in Scale raises competitive concerns about data supply chain transparency. OpenAI's pivot shows how AI data needs are evolving — away from mass labeling toward expert-driven input for reasoning-based models. A potential shake-up in the AI data ecosystem as startups like Mercor rise and traditional labelers like Scale lose key clients. (Read Deeper)

Investors Brace For Market Shock If U.S. Enters Israel-Iran War

A full-blown U.S. military entry into the Israel-Iran conflict could spark a sharp but possibly short-lived selloff in global markets, analysts warn. While oil prices dipped slightly on Wednesday, they remain nearly 9% higher since Israel’s initial strike last week — and could surge past $100 a barrel if the conflict escalates. Treasury yields dropped and defense stocks rose as traders hedged for geopolitical risk. President Trump has approved military options but says no final decision has been made.

Why It Matters: Markets may react with a sharp “knee-jerk” dip if the U.S. launches strikes, though a quick escalation could bring faster resolution. The World Bank already cut its 2025 forecast due to Trump’s trade policies — war would add further headwinds. Gold, Treasuries, and the U.S. dollar are all gaining as investors brace for volatility. (Read Deeper)

TECHNOLOGY & SCIENCE

Texas Lawmakers Urge Tesla To Delay Robotaxi Launch Over Safety

A group of Democratic lawmakers in Austin is asking Tesla to delay its planned robotaxi launch until September — when new autonomous-driving regulations are expected to take effect in Texas. The request, delivered in a letter Wednesday, asks Tesla to wait in the “best interest of public safety and trust.” CEO Elon Musk had said the launch could tentatively happen this Sunday, with an initial rollout of 10–20 Model Y vehicles in select areas of Austin.

Why It Matters: Tesla’s robotaxi ambitions are central to its long-term valuation, even as EV sales growth slows. A law passed last month would give Texas power to revoke AV permits if vehicles are deemed dangerous. The lawmakers say rollout without oversight could erode public trust — even in a state with lax current rules. (Read Deeper)

Microsoft To Cut Thousands More Jobs, Targeting Sales Teams

Microsoft is planning another round of mass layoffs, expected to affect thousands of employees, with sales roles taking the biggest hit this time. The cuts are slated to be announced early next month. This follows a previous round in May that cut 6,000 positions, mostly in product and engineering. Microsoft currently employs 228,000 people, including 45,000 in sales and marketing. In April, the company revealed plans to outsource more software sales to small and mid-size clients.

Why It Matters: Shows Microsoft’s tightrope walk between massive AI investments and cost control. Reflects how AI is reshaping enterprise sales, automating or outsourcing traditional human roles. (Read Deeper)

AROUND DE WORLD & POLITICS

World Has Just 3 Years To Avoid 1.5°C Climate Breach, Scientists Warn

The planet is on track to exceed the critical 1.5°C global warming threshold in just three years, according to a new report by over 60 top climate scientists. At current emissions levels, the world’s remaining carbon budget will run out by 2027, pushing Earth past a point scientists say will bring irreversible damage—from rising sea levels to extreme weather events. The study shows global temperatures rose 1.36°C above pre-industrial levels in 2024, driven by human activity, with oceans absorbing most of the excess heat.

Why It Matters: This is not just about a number. Crossing 1.5°C would increase deadly heatwaves, accelerate polar ice melt, and displace millions from rising seas. Every tenth of a degree matters. While governments promised action in the 2015 Paris Agreement, fossil fuel use and deforestation remain at record highs. Without urgent emissions cuts, we risk locking in damage for generations. (Read Deeper)

Trump Has Approved Iran Strike Plans—But Holds Fire Pending Nuclear Talks

President Trump has approved military strike plans on Iran, but stopped short of authorizing an attack—for now. Trump is waiting to see if Tehran will agree to abandon its nuclear program before giving the go-ahead. The Fordo facility, a fortified underground uranium site, remains a top target. Trump told reporters, “I may do it. I may not,” emphasizing that he prefers to decide “one second before it’s due.” Iran, warned it will not “negotiate under duress” and is preparing counterstrikes if the U.S. joins Israel’s air assault.

Why It Matters: A U.S. strike could radically escalate an already dangerous regional war. Trump’s hesitation suggests a last-ditch effort to force diplomacy—but also signals readiness to act militarily. Fordo is Iran’s most heavily protected nuclear site; hitting it would be a seismic move. (Read Deeper)

ENTERTAINMENT & SPORTS

Hulk Hogan’s Rep Denies Deathbed Rumors After Hospitalization

Hulk Hogan is not on his deathbed, despite online rumors. The 71-year-old wrestling icon recently underwent successful neck surgery, and his rep says there's “no reason to panic.” Hogan, who has endured over 25 surgeries in the last decade, is said to be recovering well. Speculation surged after a YouTuber falsely claimed he was in critical condition. Meanwhile, his daughter Brooke Hogan has publicly discussed a painful family rift, saying she’s had no contact with either parent. (Read Deeper)

Lakers Sold At Record $10 Billion Valuation — End Of The Buss Family Era

After more than four decades at the helm, the Buss family is selling a controlling stake in the Los Angeles Lakers — and the price tag is jaw-dropping: $10 billion, the highest valuation ever for an NBA franchise. The buyer? Billionaire Mark Walter, already a key figure in L.A. sports as owner of the Dodgers and WNBA’s Sparks. Jeanie Buss, who has led the team since 2013, will stay on as a minority owner and team governor. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Landmark GENIUS Stablecoin Bill Passes Senate! What's Next? (Listen)

EXTRA BREVITI

• Pro-Israel Hackers Destroy $90M in Iran Crypto Exchange Hack (Read More)

• Larry Ellison Overtakes Bezos and Zuckerberg to Become World’s Second-Richest Person. (Read More)

• Trump’s Envoy to China Warns Against ‘Hollowed Out’ U.S. Supply Chains. (Read More)

• The Federal Reserve held interest rates steady Wednesday but stuck to projections of two rate cuts later this year. (Read Deeper)

• Apple Eyes 2026 Launch for Premium Folding iPhone. (Read Deeper)