🔴Trump Ban 12 countries

☀️Good morning. It's Thursday, Jun. 5, and we're covering, Amazon To Test Humanoid Robots For Deliveries, Reddit Sues Anthropic Over Alleged Unauthorized Use of Data For AI Training, Trump Announces Travel Ban On 12 countries, 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 $3.28 Trillion, a 1.11% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $102.67B, which makes a 2.85% decrease.

• The total volume in Defi is currently $36.2B, 35.26% of the total crypto market 24-hours.

• The volume of all stablecoins is now $97.48B, which is 94.94% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 63.26%, an increase of 0.19% over the day.

Circle Prices IPO At $31, Valued at $6.9 Billion As USDC Issuer Hits NYSE

Circle, the issuer of the USDC stablecoin, officially went public Wednesday with an IPO price of $31 per share, above its expected range of $24–$26. The offering values the company at $6.9 billion, marking a major milestone for the crypto industry as Circle debuts on the NYSE under the ticker CRCL. The firm sold roughly 34 million shares, including a portion from early stakeholders. Circle’s road to public markets has been long, including a failed SPAC attempt in 2021. (Read Deeper)

BUSINESS & FINANCE

Amazon To Test Humanoid Robots For Deliveries

Amazon is reportedly developing AI-powered humanoid robots that could one day take over delivery jobs. The company is building a “humanoid park” — an indoor obstacle course at its San Francisco office to test these robots, which will initially use hardware from outside vendors. The move is part of Amazon’s broader push to integrate AI into its logistics chain, from warehouse automation to last-mile delivery.

WHY IT MATTERS: This development could radically reshape the delivery workforce, raising questions about the future of human labor in logistics. Amazon is one of the largest employers in the U.S., and any shift toward humanoid delivery could eventually impact tens of thousands of jobs. (Read Deeper)

Global Energy Investment To Hit Record $3.3 Trillion In 2025

The world is on track to pour a record $3.3 trillion into energy investment in 2025, according to the International Energy Agency. Clean energy technologies, including solar, nuclear, and battery storage—will attract $2.2 trillion, double the spending on fossil fuels. Solar alone will see a $450 billion inflow, while battery investments are expected to jump to $66 billion. But the IEA warns that investment in grids, critical for energy security is lagging at $400 billion, held back by red tape and supply chain issues.

WHY IT MATTERS: Meanwhile, upstream oil investment will decline 6% as lower demand and prices cool interest in new projects. China remains the clean energy leader, accounting for nearly a third of global spending. Without equal investment in grid infrastructure, electricity security risks grow. Developing economies still face hurdles in mobilizing capital for energy transition. (Read Deeper)

TECHNOLOGY & SCIENCE

Reddit Sues Anthropic Over Alleged Unauthorized Use of Data For AI Training

Reddit has filed a lawsuit against AI startup Anthropic, accusing it of scraping and using Reddit content to train AI models without permission or payment. The move makes Reddit the first Big Tech company to legally challenge an AI firm over data licensing, following similar lawsuits from news publishers, authors, and musicians.

WHY IT MATTERS: In contrast, Reddit has signed licensing deals with OpenAI and Google under terms meant to protect user privacy. The case could set a legal precedent over the use of online content in training large language models and highlights growing demands for fair payment and content rights in the AI era. (Read Deeper)

Court Rejects Apple’s Appeal In Epic Games Case, Upholding App Store Rule Changes

Apple’s request to delay court-ordered App Store changes was denied by a U.S. appeals court on Wednesday, marking another victory for Epic Games. The decision upholds a ruling that prevents Apple from charging commissions on external payment links and stops the company from dictating how those links appear in apps. The ruling has already reshaped app economics: Amazon’s Kindle app now lets users purchase books directly through an external link, avoiding Apple’s 15–30% cut.

WHY IT MATTERS: This ruling is a major shift in the power dynamics of the app economy. For over a decade, Apple has tightly controlled how payments are made in iOS apps, collecting a hefty commission. With this decision upheld, developers like Spotify, Amazon, and others can now steer users directly to their own websites for payments—potentially saving hundreds of millions of dollars. (Read Deeper)

AROUND DE WORLD & POLITICS

Trump Announces Travel Ban On 12 countries

Donald Trump has reintroduced and expanded his controversial travel ban policy, blocking entry to the U.S. from 12 countries and imposing restrictions on 7 more. Set to take effect Monday, the ban marks a return to one of Trump’s most divisive first-term policies, this time framed around visa overstays and vetting concerns. Countries banned include Afghanistan, Haiti, Iran, Somalia, and Yemen, while others like Venezuela and Cuba face new restrictions.

WHY IT MATTERS: This is one of Trump’s most sweeping immigration moves since returning to office. While his 2017 “Muslim ban” sparked global backlash and airport chaos, this time Trump is moving more strategically—backed by a Supreme Court precedent and giving advance notice. The policy affects refugees, tourists, business travelers, and students from 19 countries. (Read Deeper)

Elon Musk Calls To ‘KILL’ Trump Tax Bill Over EV Subsidy Cuts And $2.4T Cost

Elon Musk has publicly turned against President Trump’s flagship tax bill, urging Americans to “KILL” the legislation after failing to persuade GOP leaders to preserve EV tax credits. The House version of the bill ends the $7,500 EV subsidy by 2025—prompting a fiery backlash from the Tesla CEO. The move pits Musk directly against Trump and House Speaker Mike Johnson at a moment when the administration is lobbying for final passage.

WHY IT MATTERS: Musk’s break with Trump may jeopardize GOP fundraising and hurt House reelection bids in 2026. The bill threatens to gut key incentives that support electric vehicle adoption in the U.S. His opposition could have political consequences—Musk was the largest donor to Trump’s 2024 campaign, contributing over $290 million, and his America PAC backed 17 GOP congressional candidates. (Read Deeper)

ENTERTAINMENT & SPORTS

Eleven Killed In Stampede At RCB’s IPL Victory Parade In Bengaluru

What was meant to be a jubilant celebration turned tragic in Bengaluru, where at least 11 people died and dozens were injured in a stampede outside Chinnaswamy Stadium during the Royal Challengers Bengaluru’s IPL victory parade. Officials say over 200,000 fans descended on the area, double the expected crowd—leading to a deadly crush at a small, unopened gate as people surged forward. (Read Deeper)

Nintendo Switch 2 Launch Sparks Global Frenzy Amid Supply Shortages

Fans around the world lined up for the highly anticipated Nintendo Switch 2, which launched Thursday to overwhelming demand and limited supply. In Japan alone, 2.2 million people entered Nintendo’s lottery for early access, with pre-orders at U.S. retailers like Target selling out in under two hours. Priced at $499.99, the Switch 2 features a larger screen and improved graphics, debuting with marquee titles like Mario Kart World. Despite concerns over a thin initial lineup of first-party games, analysts expect a strong launch, building on the massive 152 million unit success of the original Switch. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• The most successful AI startup founders today are leveraging a combination of technical agility, lean operations, and deep customer integration to outmaneuver larger competitors. (Listen)

EXTRA BREVITI

• Microsoft has laid off over 300 additional workers, just weeks after cutting 6,000 employees in its largest job reduction in years. ( Read More )

• China, which controls 92% of the global refined rare-earth supply, just showed the US who's boss. (Read More)

• Snapchat’s powerful AR creation tool, Lens Studio, is no longer just for desktop pros. The company has rolled out a new iOS app and web version. (Read More)