🚗 Tesla Launches Robotaxi

☀️ Good morning. It's Monday, Jun. 23, and we're covering, Oil Rises, Stocks Slip After U.S. Strikes Iran’s Nuclear Sites, Tesla Launches Robotaxi Rides In Austin, ISIS Suicide Bomber Kills 20 In Syrian Church Attack, 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 $3.12 Trillion, a 0.64% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $139.35B, which makes a 26.25% increase.

• The total volume in Defi is currently $34.26B, 24.58% of the total crypto market 24-hours.

• The volume of all stablecoins is now $133.51B, which is 95.81% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 64.89%, an increase of 0.03% over the day.

Bitcoin Briefly Sinks Below $99K As U.S.-Iran Strikes Roil Markets

Bitcoin fell under $99,000 over the weekend, its lowest level in more than a month, as U.S. strikes on Iran and inflation fears triggered a sharp crypto selloff. Ethereum dropped over 10% intraday, while Solana, XRP, and Dogecoin all plunged — erasing weeks of gains and shaking bullish sentiment. Traders rotated out of high-risk assets as Iran threatened to block the Strait of Hormuz, a chokepoint for 20% of global oil supply. (Read Deeper)

BUSINESS & FINANCE

Oil Rises, Stocks Slip After U.S. Strikes Iran’s Nuclear Sites

Oil prices jumped and global markets wobbled on Monday after U.S. airstrikes targeted three nuclear and military sites in Iran over the weekend. Brent rose 1.53% to $78.19, while WTI climbed 1.48% to $74.93. Stocks slipped across the board: S&P 500 futures dipped 0.13%, Nasdaq down 0.18%, and Asia mostly in the red. Tensions are rising fast. Iran vowed not to “surrender to bullying,” while foreign minister Abbas Araghchi landed in Moscow for urgent talks with Vladimir Putin.

Why It Matters: This isn’t just about oil — it’s about inflation, supply chains, and central banks. If Iran closes the Strait, oil spikes, transport costs jump, and rate cuts could vanish. Markets are on edge, and Trump just floated regime change in Iran. (Read Deeper)

Wolfspeed To File For U.S. Bankruptcy, Slash $4.6B In Debt Under Rescue Deal

Chipmaker Wolfspeed will file for Chapter 11 bankruptcy in the U.S. under a prepackaged restructuring deal that wipes out nearly 70% of its debt and injects $275 million in fresh financing, the company announced on Sunday. The deal is backed by creditors and Renesas Electronics’ U.S. arm, with Wolfspeed aiming to exit bankruptcy by Q3 2025. Wolfspeed, once a key player in silicon carbide chip production, has been battling slowing demand, tightening credit, and policy-driven trade uncertainty. It raised going-concern doubts last month after racking up $6.5B in debt, despite holding just $1.33B in cash.

Takeaways: Wolfspeed’s fall is a warning for U.S. chipmakers betting big on expansion amid volatile demand and political headwinds. As the U.S. CHIPS Act ramps up funding and competition intensifies, the industry's fragile players may face similar fates — and investors should brace for more shakeouts in the semis sector. (Read Deeper)

TECHNOLOGY & SCIENCE

Tesla Launches Robotaxi Rides In Austin

Tesla has begun offering $4.20 robotaxi rides in Austin using fully driverless Model Y SUVs — but with a catch: each ride still has a Tesla employee in the front passenger seat as a “safety monitor.” It's the company's first real-world test of a camera-only, AI-driven autonomous vehicle system. The launch is intentionally small (10 vehicles, limited to South Austin) and opaque — Tesla has refused public records requests and shared minimal technical detail. While early rides appear smooth, some robotaxis have shown erratic behavior, including abrupt braking near police vehicles.

Why It Matters: Tesla is finally testing its long-promised autonomous vision, but real questions remain: Is this system safe without lidar? Why the secrecy? And will camera-only AI be enough to deliver on Musk’s decade-old robotaxi dream? (Read Deeper)

Greg Brockman Says ‘Vibe Coding’ Is Stealing The Fun From Engineering

OpenAI cofounder Greg Brockman says the rise of AI-assisted "vibe coding" is shifting the engineering experience—for better and worse. While tools like Copilot and Cursor are removing grunt work, Brockman says they’re also taking away some of the fun parts of building software. Now, human engineers are increasingly left with debugging, deployment, and quality control—tasks Brockman describes as “not fun at all.” He hopes future AI teammates will handle those, too.

Takeaways: Andrej Karpathy Coined “vibe coding” refers to AI generating code based on high-level intent or prompts. Big Tech and startups are now prioritizing candidates with AI code generator experience, transforming what it means to be a developer. As AI eats more of the “fun” work, it raises questions about creativity, job satisfaction, and the future role of humans in engineering. (Read Deeper)

AROUND DE WORLD & POLITICS

ISIS Suicide Bomber Kills 20 In Syrian Church Attack

A suicide bombing at a Greek Orthodox church in Damascus killed at least 20 and injured over 50 on Sunday, in one of the deadliest attacks on a Christian place of worship in Syria in recent years. The bomber, identified by Syrian officials as an ISIS militant, opened fire on the congregation before detonating his explosive vest during a mass service at Mar Elias Church. Footage from inside the church shows shattered pews, blood-stained floors, and chaos in the aftermath.

Takeaways: This is a stark reminder that despite territorial losses, ISIS remains capable of launching high-casualty attacks in urban centers. It’s also a chilling strike against a religious minority — a move designed to sow fear and inflame sectarian divides. ( Read Deeper)

Iran Weighs Retaliation As U.S. Strikes Nuclear Sites And Trump Floats Regime Change

Tensions in the Middle East surged after the U.S. launched strikes on Iran’s nuclear sites, marking the most direct Western military action against Tehran since 1979. Iran vowed to respond but has so far avoided attacking U.S. bases or blocking the Strait of Hormuz — a critical energy artery for 20% of global oil shipments. President Trump boasted of “monumental damage” to Iran’s underground Fordow nuclear facility and warned of “far greater” attacks if Iran retaliates.

Why It Matters The U.S. strikes, paired with Trump’s talk of regime change, raise the specter of full-scale war — or worse, nuclear escalation. Iran’s next move could shake global energy markets. (Read Deeper)

ENTERTAINMENT & SPORTS

Shai Gilgeous-Alexander Leads Thunder To First NBA Title Since Seattle Era

Shai Gilgeous-Alexander capped a historic season by powering the Oklahoma City Thunder to their first NBA title since relocating from Seattle, scoring 29 points and dishing 12 assists in a 103–91 Game 7 win over the Indiana Pacers. The 26-year-old Canadian became just the fourth player in NBA history to sweep the regular season MVP, scoring title, and Finals MVP in the same season — the first since Shaquille O’Neal. (Read Deeper)

Johnny Depp Calls Himself A “Crash Test Dummy for #MeToo,” Says He Has “No Regrets”

In a wide-ranging interview with The Times UK, Johnny Depp reflected on his legal saga with ex-wife Amber Heard, declaring he has “no regrets” and likening himself to a “crash test dummy for #MeToo.” Depp dismissed the notion of a comeback, saying, “I didn’t go anywhere,” and defended his decision to fight publicly, stating he “had to semi-eviscerate” himself to stand up for the truth. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• 🧠 Feynman on “Can Machines Think?”. (Listen)

EXTRA BREVITI

• Airlines Reroute and Cancel Flights After U.S. Strikes on Iran Spark Airspace Crisis. (Read More)

• Pentagon: U.S. B-2 Bombers “Obliterated” Iran’s Nuclear Sites in Secretive Mission. (Read More)

• Court Order Forces OpenAI to Pull Jony Ive Promo Over Name Dispute. (Read More)