Top stories today:

1. Elon slams Trump mega-bill as “disgusting abomination” after farewell
2. $TRUMP wallet announced, but Trump sons deny involvement
3. Manus unveils text-to-video service to rival OpenAI’s Sora
4. Cohere said to raise $500M+ at up to $6.5B valuation
5. World-first biocomputer with human brain cells goes on sale at $35K

0. Data and calendar

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.

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.

4. Manus unveils text-to-video service to rival OpenAI’s Sora, Google’s Veo3