💥Ukraine’s Drone Destroys Russian Bombers

☀️Good morning. It's Monday, Jun. 2, and we're covering, Wall Street Futures Slip As June Kicks Off After Strong May, Google To Appeal Antitrust Ruling On Search Monopoly, Ukraine’s “Spider’s Web” Drone Operation Destroys Russian Bombers, 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 $3.29 Trillion, a 0.81% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $91.91B, which makes a 5.04% increase.

• The total volume in Defi is currently $34.98B, 38.06% of the total crypto market 24-hours.

• The volume of all stablecoins is now $86.06B, which is 93.63% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 63.70%, an increase of 0.16% over the day.

Crypto Bottoming? DOGE, XRP, SOL Find Support As Bitcoin Holds Near $105K

Despite trade war fears and recent sell-offs, major cryptocurrencies like Bitcoin, Ether, XRP, Solana, Cardano, and Dogecoin are showing signs of bottoming—sparking cautious optimism among traders. Bitcoin is hovering around $105,000, down 5% over the past week. Altcoins including XRP ($2.17), SOL ($155), ADA ($0.68), and DOGE ($0.19) are bouncing off support levels. Macro uncertainty, including fresh US-China tariff tensions, has traders on edge. However, institutional interest continues to grow. (Read Deeper)

BUSINESS & FINANCE

Wall Street Futures Slip As June Kicks Off After Strong May

U.S. stock futures edged lower Sunday night, with S&P 500 futures down 0.4%, Dow futures off 0.5%, and Nasdaq futures slipping 0.6%. The muted open to June follows a blockbuster May, when the S&P 500 jumped 6%, its best May since 1990, and the Nasdaq surged 9% on AI enthusiasm and resilient economic data. With Trump’s trade policy again in the spotlight, investors are watching for ripple effects across tech and manufacturing.

Why It Matters: Markets face fresh uncertainty as trade tensions rise. President Trump accused China of violating a recent trade deal, while courts flip-flopped last week on his reinstated tariffs. After a red-hot May, markets face a more complex backdrop in June with trade, politics, and labor data all competing for investor attention. (Read Deeper)

Monzo Breaks £1B Revenue, Turns Big Profit Ahead Of IPO Push

UK digital bank Monzo just crossed a major milestone — £1 billion ($1.35B) in annual revenue and £60.5M in pretax profit, up from just £13.9M a year ago. The surge comes amid rapid growth in both personal and business banking customers. Founded in 2015, Monzo was one of the early challengers to Britain’s banking establishment. Now with 12M+ customers, deposits up 48% to £16.6B, and its first full year of profitability behind it, the company is reportedly preparing for an IPO.

Why It Matters: Monzo has graduated from scrappy startup to a serious fintech contender, hitting profitability and billion-pound revenues just as investors warm back up to tech IPOs. A public listing could make it one of Europe’s highest-profile fintech floats in years. (Read Deeper)

TECHNOLOGY & SCIENCE

Google To Appeal Antitrust Ruling On Search Monopoly

Google says it will appeal a major antitrust decision after U.S. District Judge Amit Mehta proposed less aggressive remedies than what federal regulators sought to curb the company's dominance in online search and ad tech. The U.S. Department of Justice and several states want Google to end default search engine deals (like those with Apple), and possibly divest its ad tech business, including Google Ad Manager. Antitrust regulators also worry Google’s search dominance could spill into AI, giving it an unfair edge with products like Gemini.

Why It Matters: This is one of the most consequential tech antitrust cases in decades. The outcome could reshape how Google operates, particularly around search defaults, AI, and digital advertising, and set a precedent for future regulation of Big Tech. (Read Deeper)

Elon Musk Launches 'Bitcoin-Style' XChat, Crypto Community Reacts Wildly

Elon Musk just unveiled XChat, a new encrypted messaging tool inside X (formerly Twitter), promising Bitcoin-style privacy. The platform includes end-to-end encryption, vanishing messages, audio/video calls, and the ability to send any file type, all part of Musk’s vision to make X the “everything app.” Musk claims XChat uses a “whole new architecture” inspired by Bitcoin’s cryptographic security, though exact technical specs remain unclear.

Why It Matters: Musk isn’t just building a new messaging tool, he’s laying the groundwork for an encrypted, crypto-native communications and finance hub, which could upend legacy social and payments platforms. (Read Deeper)

AROUND DE WORLD & POLITICS

Ukraine’s “Spider’s Web” Drone Operation Destroys Russian Bombers

In its most ambitious cross-border strike of the war, Ukraine destroyed up to 40 of Russia’s most advanced strategic bombers, dealing a $7 billion blow to the Kremlin’s air force. Dubbed Operation Spider’s Web, the mission saw explosive-laden FPV drones smuggled deep into Russia in modified shipping containers mounted on trucks. From rural Siberia to Russia’s Arctic north, bystanders watched in shock as drones emerged from parked trucks and launched coordinated strikes on five airfields, including Belaya and Olenya, previously thought to be safely out of reach.

Why It Matters: This marks a major tactical and symbolic victory for Ukraine, showcasing how low-cost, AI-enabled drones can neutralize billion-dollar weaponry. It also delivers a warning to Russia — and a message to Ukraine’s allies: Kyiv still has teeth. (Read Deeper)

U.S. Signals Possible Easing In China Trade Standoff After Trump-Xi Call

The White House hinted at a potential thaw in U.S.-China trade tensions, with Treasury Secretary Scott Bessent saying President Trump may speak with Chinese leader Xi Jinping “very soon.” A call, he said, could “iron out” issues stemming from a 90-day tariff truce struck in Geneva last month. Bessent accused China of withholding key products, including rare earths, which Beijing allegedly agreed to release as part of the deal.

Why It Matters: Markets and businesses watching the trade standoff closely may find relief in signs that leader-level diplomacy could resume. Rare earth supply disruptions, key to tech and defense sectors, remain a critical concern — and both sides have reason to stabilize talks ahead of new tariffs or retaliations. (Read Deeper)

ENTERTAINMENT & SPORTS

Inter Back Inzaghi Despite 5–0 Champions League Final Humbling

After one of the most humiliating defeats in Champions League final history, Inter Milan are standing by manager Simone Inzaghi. The club’s president Giuseppe Marotta confirmed they want him to stay, despite the 5–0 loss to PSG, Inter's worst-ever in a major final. Inzaghi who has delivered one Serie A title and two Coppa Italia trophies since his 2021 arrival, has been linked to Saudi club Al-Hilal, but says he’ll meet Inter in the coming days to discuss his future. (Read Deeper)

Taylor Swift Celebrates Career Win—Wears Sweet Nod To Travis Kelce

Taylor Swift had plenty to celebrate during a recent girls' night out with Selena Gomez in NYC. Fresh off the announcement that she now officially owns the master recordings of her first six albums, Swift stepped out in a sequined Gucci mini skirt—and a subtle nod to boyfriend Travis Kelce. Taylor Swift regaining ownership of her music is a monumental moment in artist rights—and she’s doing it with her personal life in sync. As the Eras Tour continues and her relationship with Kelce grows, she’s clearly in her power era, professionally and personally. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Theranos, the infamous blood-testing company that collapsed in scandal, is making headlines again—sort of. A new startup named Haemanthus, founded by Billy Evans. (Listen)

EXTRA BREVITI

• China has forcefully denied U.S. accusations that it violated the Geneva trade agreement, escalating tensions between the world’s two largest economies. (Read More)

• More left-leaning influencers are joining Bluesky, but few are fully abandoning X, according to a new Pew Research Center update. (Read More)

• Google has quietly released a new app called Google AI Edge Gallery, enabling users to download and run AI models directly on their smartphones completely offline. (Read More)

• AI startup Anthropic has hit a stunning milestone: $3 billion in annualized revenue, up from $1B in December and $2B in March. (Read More)