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US Targets New AI Safety Rules
The Trump administration has signed an executive order establishing a voluntary framework for AI safety oversight, requiring frontier model developers to submit advanced systems for government review before public release.
Supreme Court rejects Trump's move to end birthright citizenship
The US Supreme Court voted 6-3 to uphold automatic birthright citizenship, striking down Trump's first-day executive order. Chief Justice Roberts wrote the majority opinion affirming the 14th Amendment.
BIS warns the AI boom is starting to look like past bubbles
The Bank for International Settlements has sounded the alarm on the AI investment surge, comparing it to historical manias and warning that a failure to deliver returns could trigger a prolonged investment bust with global financial consequences.
House Democrats press the SEC over AI agents trading for retail investors
Eight House Democrats have written to SEC Chair Paul Atkins demanding clarity on how AI trading agents are regulated, citing Coinbase's new in-app AI adviser as a live example and requesting a response by July 31.
Iran is targeting $40B from Strait of Hormuz Fees
Iran has unveiled a proposal to levy a 'Hormuz Service Fee' on commercial vessels transiting the Strait of Hormuz, targeting $40 billion in annual revenue. The move follows the signing of the Islamabad MoU and a broader de-escalation with the United States.
X Money To Offer FDIC Coverage Up To $10M
X Money is rolling out a Cash Sweep Program for US users, offering up to $10 million in FDIC insurance coverage and up to 6% APY on cash balances held through the platform.
DTCC preps its systems for the July 4 launch of Trump Accounts
The DTCC has updated its infrastructure to support Trump Accounts, the new federally backed child savings program going live on July 4, 2026, with a $1,000 government seed contribution for eligible children.
Trump Orders DOJ To Probe Oil Companies Over Gas Price Gouging
President Donald Trump has directed the Justice Department to investigate major oil companies, accusing them of failing to pass on falling crude costs to consumers at the pump as US gas prices remain well above pre-war levels.
Trump Confirms Record Oil Passage As Hormuz Remains Open
Donald Trump confirmed a record 19 million barrels of oil moved through the Strait of Hormuz in a single day, citing Iran's agreement to nuclear inspections as the basis for keeping the waterway open.
South Korea's KOSPI Crashes 10% In Single Session
South Korea's KOSPI index plunged nearly 10% on June 23, triggering a market-wide circuit breaker as Samsung Electronics and SK Hynix led a sharp sell-off driven by stretched valuations, retail leverage, and heavy foreign outflows.
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