Sen. Cynthia Lummis gives her farewell to Jerome Powell.

Catherine Herridge ((C__Herridge)) reports the CIA was tracking every keystroke on computers used by DNI Gabbard's Director's Initiatives Group, the task force investigating the JFK, RFK, and MLK assassinations, COVID-19 origins, Crossfire Hurricane, Havana Syndrome, and UAPs. CIA whistleblower James Erdman testified under oath that the CIA illegally surveilled the group's computers, phones, and contacts with whistleblowers. Investigators looking into Havana Syndrome discovered third parties listening in on their secure phone calls. DNI IT experts confirmed someone had to submit an engineering work order to make that possible. The CIA also denied the group access to key analysts, blocked requests to review internal communications about whether Biden-era Havana Syndrome intelligence was manipulated, and sent members demands to come in for questioning outside of normal security review procedures. The group concluded the Intelligence Community's analytic tradecraft under Biden was "defective" and recommended recalling the 2023 and 2024 Havana Syndrome assessments. Their final report was prepped for release but never made public. Judicial Watch has now sued for the records.

Tulsi Gabbard resigned as Director of National Intelligence today after her husband Abraham was diagnosed with an extremely rare form of bone cancer. Effective June 30. Here's what her last few months looked like. Gabbard opposed the US strikes on Iran from the start. As the war escalated, she was reportedly sidelined. Sources told Tablet Magazine she "doesn't get invited to meetings anymore." While Trump and top national security officials like Rubio and CIA Director Ratcliffe directed the war from Mar-a-Lago, Gabbard was in Washington. Both of her top deputies quit over the same conflict. Joe Kent, director of the National Counterterrorism Center, resigned in March saying Iran "posed no imminent threat" and accused Israeli leaders of feeding Trump "misinformation" about a "swift path to victory." Then this week, Amaryllis Fox Kennedy, a former CIA officer and RFK Jr's daughter-in-law, also resigned over disagreement with the strikes. One Republican lawmaker told Politico that "both Kent and Gabbard have had less and less influence." Last week, a CIA whistleblower testified to the Senate that the CIA removed roughly 40 boxes of JFK assassination and MKUltra files from ODNI that were being processed for declassification. Rep. Anna Paulina Luna said the files were taken "in the middle of the night." ODNI denied it was a "raid," but multiple intelligence sources confirmed to the Daily Caller that the CIA did take the files and hasn't returned them. As of yesterday, Gabbard was working to declassify a FISA Court opinion that reportedly exposes ongoing abuse of Section 702 warrantless surveillance. The FISA Court found in March 2026 that problems the DOJ claimed to have fixed are still happening and extend beyond the FBI. Her anti-weaponization task force, the Director's Initiatives Group, was dissolved in January 2026 after a CIA officer assigned to the group testified that internal "drama" over a circulated memo led to the shutdown. She was being openly discussed as the "next one out" as far back as March. She's the second Trump Cabinet member to depart after Kristi Noem was fired as DHS secretary in early March.

President Trump posted: "Unfortunately, after having done a great job, Tulsi Gabbard will be leaving the Administration on June 30th. Her wonderful husband, Abraham, has been recently diagnosed with a rare form of bone cancer." "Tulsi has done an incredible job."

"The South African Treasury realized they could revise a 1930s law to pass this without parliamentary support. They don't need any votes to make it happen." South Africa is waging a war on Bitcoin self-custody.

Tulsi Gabbard resigns from her post as Director of National Intelligence.

"I still get questions about my choice of words, which I know has caused upset to some colleagues. For that I am sorry." Standard Chartered CEO Bill Winters on calling staff being replaced by AI "lower-value human capital."

"He overpaid for Twitter. Was in massive debt. Then launched xAI, absorbed X into xAI, absorbed xAI into SpaceX, went public with 90% voting shares, and now he's going to acquire Tesla." Breaking down Elon's consolidation play and SpaceX's 18,000 BTC stack.

Fed Chair Kevin Warsh: "Our mandate at the Fed is to promote price stability and maximum employment." "When we pursue those aims with wisdom and clarity, independence and resolve, inflation can be lower, growth stronger, real-take home pay higher, and America, can be more prosperous. And no less important, America's place in the world more secure." "These duties are now mine, Mr. President, because of the trust you have placed in me."

Kevin Warsh is sworn in as Federal Reserve Chair.

Trump: "Unfortunately, in the eyes of many, the Fed lost its way in recent years. It became distracted by concerns far removed from its core mission and mandate, drifting into matters such as climate policy and DEI initiatives." "With the Fed straying from its mandate, while the last administration blew out the deficit. Americans suffered the worst inflation that we had in history."

President Trump introduces Kevin Warsh as the new Federal Reserve Chair: "I expect he will go down as one of the truly great chairmen of the Federal Reserve that we've ever had. I really believe that."

"The fraud under the Walz administration will take your breath away. It could be as high as $9 billion. This is just the tip of the iceberg." Rep. Tom Emmer says the $90 million Medicaid fraud scheme uncovered in Minnesota is the largest in history.

"Bitcoin is a neutral network. People you don't like might use it. And there's nothing you can do to stop it." Iran launched Hormuz Safe, a Bitcoin-powered maritime insurance platform for ships crossing the Strait of Hormuz, after OFAC froze millions in IRGC-linked USDT.

Harbor Funds just filed for 5 "Lab ETFs" on NYSE Arca. One each for Anthropic, Google DeepMind, Meta, OpenAI, and SpaceXAI. You can't buy shares in these private AI labs directly so Wall Street is packaging the next best thing.

University of Michigan Consumer Sentiment revised down to 44.8. New all-time low. Lower than COVID. Lower than the 2022 inflation peak.

Trump Media transferred 2,650 bitcoin worth $205 million, a move widely interpreted as a sale. The company bought 11,542 BTC at an average cost of $118,522 per coin. This is the second large transfer in four months after moving 2,000 BTC worth $175 million earlier this year. According to Lookonchain, Trump Media is now sitting on a total unrealized loss of $455 million on its bitcoin holdings. Interesting timing given that the president signed an executive order establishing a Strategic Bitcoin Reserve in March 2025 and his allies introduced a bill this week to acquire 1 million BTC.

A new bill in Congress would fund a 1 million bitcoin reserve by closing a 107x accounting gap on U.S. gold. Rep. Nick Begich (R-AK) and Rep. Jared Golden (D-ME) introduced the American Reserve Modernization Act of 2026 (ARMA) on Wednesday with 21 cosponsors. The bill would authorize the U.S. Treasury to acquire up to 200,000 bitcoin per year for five years. It is a rebranding of the original BITCOIN Act co-introduced by Begich and Senator Cynthia Lummis, and would codify Trump's March 2025 Strategic Bitcoin Reserve executive order into permanent law. The bill classifies bitcoin as a "Tier 1" strategic reserve asset, putting it on the same legal footing as gold. All acquisitions must be budget-neutral. The funding mechanism is revaluing Federal Reserve gold certificates from their statutory price of $42.22 per ounce, set in 1973, to current market prices. At today's gold price of $4,528, that revaluation would unlock over $1.17 trillion in paper gains on the government's 8,133 metric tons of gold without new taxpayer debt. The bill ends the practice of auctioning seized bitcoin. All future seizures go directly to the Strategic Reserve instead of being liquidated by the U.S. Marshals Service. Bitcoin in the reserve would be held for a minimum of 20 years, with the only exception being sales to reduce the national debt. Federal custody standards include geographic distribution of private keys across air-gapped facilities, multi-signature governance requiring authorization from the Treasury, the Fed, and an independent third agency, and investment in quantum-resistant cryptographic upgrades. This is the most technically detailed bitcoin custody language ever written into a Congressional bill. The U.S. government has been carrying gold on its books at $42.22 an ounce for over 50 years while the market price surged past $4,500. ARMA would close that gap and use the difference to buy an asset that cannot be debased. Whether it passes is one question. That it exists with bipartisan support and 21 cosponsors on day one is the signal.

Stephen Miran was the most dovish voice on the Fed Board. When the FOMC voted for 25 basis point cuts at three consecutive meetings last fall, Miran dissented all three times in favor of 50 basis point cuts. He is now gone, and Kevin Warsh is taking his seat and the chair. Warsh's track record is more complicated than "Trump's rate cut guy." During his first stint as a Fed Governor from 2006 to 2011, he was one of the more hawkish voices on the committee, pushing back against quantitative easing after the financial crisis. He has softened in recent years, signaling that AI-driven productivity gains could justify lower rates and expressing openness to alternative inflation measures that strip out tariff-driven price spikes. But the committee he is walking into is not interested in cuts. FOMC minutes released this week show more policymakers are now open to raising rates if inflation stays elevated. Several officials have stressed keeping hikes on the table. Reuters described it as "an increasingly hawkish crew." The net effect: the Fed's most aggressive dove is out, and the rest of the committee is leaning toward hikes. Trump was explicit that he wants lower rates, but this swap may have made that harder, not easier.

Stanford cryptographer Dan Boneh: “It's insane to say that Bitcoin will not solve the quantum problem... of course Bitcoin will survive it and of course Bitcoin will solve it.”