Meta is ranking employees on leaderboards by AI usage. Workers are asking the chatbot fake questions to pad their numbers because low usage is a risk signal for layoffs. 22,000 roles cut or cancelled for 2026.

Ken Griffin went home on a Friday "fairly depressed" after watching AI agents at Citadel do work that used to take teams of PhDs in finance months to complete. Done in days. His words: "These are not mid-tier white collar jobs. These are extraordinarily high skilled jobs being automated by agentic AI." This is the head of one of the most successful hedge funds in history saying the people he pays seven figures to analyze markets and structure deals are being replaced by software that works in hours instead of months. Not theoretically. In his own office. Right now. The Coatue deck we covered earlier this week called agents "the biggest unlock" in AI. Griffin just confirmed it from the buy side. The shift from copilots to agents is not a future event. It is already happening at the highest levels of finance.

The CLARITY Act nearly died Thursday morning. Negotiations between Republicans and Democrats collapsed Wednesday night after talks stalled over changes to the BRCA, which protects noncustodial software developers from money transmitter prosecution. Thursday morning, the five pro-crypto Democrats met in Warner's office to strategize. "Members were still hashing it out as late as 10:29 a.m." The hearing started at 10:30. The deal came together in the ante room right after Warren's opening statement. Senators Tillis, Lummis, Alsobrooks, and Gallego struck a last-minute compromise while GOP aides handwrote draft amendments and rushed printed materials to members in real time. One staffer called it "chaotic and unprecedented." The compromise removed BRCA-referencing language from Section 301, which DeFi advocates say could weaken developer protections. Other revisions authorized banks to engage in digital asset activities, banned insider trading on ancillary assets, and preserved state consumer protection laws. The bill passed 15-9. Both Democratic yes votes made clear their support doesn't carry to the floor. Gallego: "My vote here does not guarantee a vote on the floor." The bill now gets merged with the Senate Agriculture Committee text before a full Senate vote.

Lagarde rejects stablecoins and pushes the digital euro instead. "She doesn't ever say why. They need to trap capital. If you have the means, you're going to get your capital out of the jurisdiction where it's going to be debased." - (LeveredUSTs)

"With these perpetuals, they never have to return your principal. You're totally dependent on secondary markets. If liquidity tightens, the infinite duration could mean a bigger price dislocation than most of us think." - (LeveredUSTs) The risk nobody's pricing in on STRC.

"Bloomberg is trying to frame this as Powell versus Trump. The actual signal is Warsh. He comes from deal-making on Wall Street, not writing white papers on campus." - (LeveredUSTs) The real shift is industry vs the PhD standard.

"It can't be Bitcoin because once you take custody, that capital can leave the borders and flee." - (LeveredUSTs) The EU needs the digital euro to trap savings and print against them. The timeline just got pulled forward from 2029 to 2028.

TFTC 746 w/ (LeveredUSTs): "It's a capital war as well as a military war of attrition. These credit dollars, they're all fugazi. Fairy dust." We discuss: ⚡ Sovereign debt crisis ⚡ The real fight for control of the Fed ⚡ Why the EU needs to trap your savings

Global inflation is waking back up, and the central banks that declared victory are being dragged back into the ring. Australia and Norway have already started hiking to fight sticky prices. The ECB is expected to follow in June. Meanwhile, US CPI is still running hot at 3.8% YoY and trending higher. The Fed is doing what it always does: waiting for permission from yesterday's data while the market reprices tomorrow's problem. The cut narrative is running into price reality. Again.

Trump: "I call it a little pain. The oil goes up."

Trump voter says he can't afford the rising fuel costs. Trump's response: "We just hit the highest stock market price ever. The 401ks at their all-time high."

Trump on Venezuela: "The good thing is we've made a fortune with their oil."

Trump on congressionally approved weapons sales to Taiwan: "I may do it, I may not do it." He's holding the deal "in abeyance" and called it "a very good negotiating chip" with China.

"Should Taiwan feel more or less secure after your meetings with Xi?" Trump: "Neutral."

Elon Musk published X's latest recommendation algorithm to GitHub today, the first update in five months despite a January promise to release it every four weeks. The algorithm determines what organic and advertising posts are shown to users in the "For You" feed. Musk said there will now be monthly updates with release notes and invited public critique. The previous release in January 2026 revealed that X's recommendation system now relies on an external large language model (Grok) to evaluate posts, which researchers noted makes the disclosed source code less transparent on its own since much of the actual ranking logic runs through Grok's black box rather than readable code.

Bitcoin Depot, the largest Bitcoin ATM operator in the US, reported a 49.2% year-over-year revenue decline in Q1 2026 and swung to a $9.5 million net loss, compared to $12.2 million in net income in the same quarter last year. Gross profit collapsed 85.5%, falling from $31.2 million to $4.5 million. Cash reserves dropped from $65.6 million to $44 million. The company has flagged going-concern doubt, delayed its 10-Q filing, faces over $20 million in legal judgments, and is exploring restructuring options. Bitcoin Depot operates thousands of Bitcoin ATMs across the US and trades on Nasdaq under the ticker $BTM.

Fox Business host Charles Payne changed his X profile picture to an American flag Bitcoin logo.

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Where the Federal Reserve board stands on Bitcoin.

Senators Sanders and AOC have introduced a bill to pause all AI data center construction in the United States. According to Y Combinator CEO Garry Tan, over 300 local bills targeting data center development have also been filed, and half of planned 2026 data centers are facing delays or cancellation. Each facility represents billions in local economic investment. The bill comes as the US and China are actively competing to build out AI infrastructure, with Trump and Xi meeting in Beijing this week to discuss trade and technology.