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Top stories today:
- Elon slams Trump mega-bill as “disgusting abomination” after farewell
- $TRUMP wallet announced, but Trump sons deny involvement
- Manus unveils text-to-video service to rival OpenAI’s Sora
- Cohere said to raise $500M+ at up to $6.5B valuation
- World-first biocomputer with human brain cells goes on sale at $35K
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. Elon slams Trump mega-bill as “disgusting abomination” after farewell
“In November next year, we fire all politicians who betrayed the American people,” Elon Musk said.
May: Musk fueled GOP criticism of Trump’s “big, beautiful” bill, saying it lacked deficit cuts.
Musk’s latest comments come just in a week after leaving the Trump admin.
The bill is estimated to increase budget deficits by $2.7T through 2034.
Jul. 4: the bill is expected to pass the Senate and become law.
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3. $TRUMP wallet announced by Magic Eden, but Trump sons deny involvement, threaten lawsuit
Wed.: Magic Eden, a crypto firm, announced the launch after the wallet appeared online.
“The Trump Organization has zero involvement with this wallet project,” Donald Trump Jr. posted on X following the website appearance.
The @TrumpWalletApp account on X was suspended after Trump’s sons’ comments.
Eric reportedly threatened legal action against Magic Eden over the project.
The $TRUMP memecoin project is separate to the Trump sons’ crypto project World Liberty Financial, so there is likely some internal competition going on here.
