BPI's Sam Lyman: "Closed-weight models are like CBDCs. They can turn on and off your ability to use AI. Open-weight models are the Bitcoin of AI, anybody can opt into it, anybody can use it however they want, and there's really no way to regulate against it. It's freedom."

.@Jameson Lopp just launched Proof of Sound, a site that turns live Bitcoin network data into music and visuals in real time.

"As an industry we should pull together ASAP and get a quantum-resistant algo in the protocol. Just put one in and get going on it." BitGo CEO Mike Belshe says quantum FUD is the #1 thing holding back traditional investors.

JPMorgan is warning that Strategy's new bitcoin sales policy introduces "two-way risk" into crypto markets, according to a CoinDesk report. Earlier this week, Strategy formalized a policy allowing selective bitcoin sales to fund preferred stock dividend payments. The company also authorized preferred stock repurchases and share buybacks, and set a minimum cash reserve target equal to 12 months of preferred dividends and interest expense. Their current $2.55 billion reserve covers roughly 17 months of obligations. JPMorgan's analysts believe that's not enough. They argue Strategy would need 24-36 months of reserves to make investors comfortable that the company won't need to sell bitcoin in the foreseeable future. The concern centers on Strategy's sheer size in the bitcoin market. The company holds 847,363 BTC, roughly 4% of bitcoin's total supply, and has purchased approximately $13.7 billion worth of bitcoin year to date. JPMorgan estimates that accounts for about 70% of total net digital asset inflows in 2026. When a buyer that large introduces even the possibility of becoming a seller, the market has to price in the chance that the single biggest source of bitcoin demand could also become a source of supply at any moment. Bitcoin came under pressure in late May and early June after Strategy disclosed it sold 32 BTC to fund dividend payments. Just 32 bitcoin. A rounding error relative to their holdings, but the signal it sent compounded pressure from a broader repricing of Fed rate expectations already weighing on bitcoin and gold. ETF demand has weakened too. Spot bitcoin ETFs saw a record $4 billion in net outflows in June after a 13-day redemption streak pushed year-to-date flows into negative territory for the first time since the products launched in 2024. JPMorgan's argument is that greater price volatility caused by two-way flow uncertainty could increase the cost for Strategy to raise equity and debt to finance future bitcoin purchases, creating a negative feedback loop.

K Wave Media fully exits Bitcoin treasury after selling its 88 BTC to repay $6M in debt.

US hiring plans are down 84% since 2020 YTD 2026 is up 10% but strip out tech and hiring plans are actually down 1%

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OpenAI just offered the US government a 5% stake worth ~$43 billion. This follows the government converting CHIPS Act grants into a 9.9% stake in Intel and taking equity positions in 9 quantum companies.

Adam Back on Bitcoin Standard Treasury ($BSTR): "Trying to create a relatively conservative return on Bitcoin using capital market strategies. We would do things differently compared to other treasury companies."

We spent $20,000 building an AI agent (Martin) that helps us run our company. Most know they need to implement AI in their business but get overwhelmed by the hype on X and YouTube. We're launching the TFTC Roundtable to get you off zero.

TFTC

TFTC — Truth for the Commoner

Bitcoin, freedom, and truth in the digital age. A daily newsletter and podcast.

Anthropic's Claude Fable 5, arguably the most capable AI model available to the public, was shut down for 19 days by the US government and just came back online today. On June 9 Anthropic launched Fable 5. Three days later the Commerce Department hit it with emergency export controls after Amazon researchers found a jailbreak that bypassed its safety filters to identify software vulnerabilities and write exploit code. The order banned any foreign national from using the model, including Anthropic's own non-citizen employees. Since they couldn't verify nationality in real time, they shut it down for everyone. To get it back online Anthropic trained a new safety classifier that blocks the technique in 99% of cases, agreed to give the government pre-release access to future models, and committed to real-time information sharing on jailbreaks. Commerce Secretary Lutnick signed off on the reversal June 30. The bigger story isn't the resolution. It's that when Washington wanted to act on a frontier AI model, it had no regulatory framework so it reached for export controls, a tool designed for missiles and weapons, and applied it to software with 72 hours notice. The government can and will ground the most capable AI models on the planet with almost no process, and for an industry building on top of these models, that risk hasn't been priced in.

"The Federal Reserve exists to enrich those who own assets and to control the money to control you. Global M2 is expanding at its fastest rate since 2021. The asset owners benefit massively. Those who don't own assets don't benefit. It's a money problem." - Smeet Bhatt

"Don't rip out your furnace. Add the miner to it. Think of it like a hybrid car. Gas for the coldest day, miner for the majority of your heating needs." - Tyler Stevens

"STRC is nothing like Terra Luna. It's a NASDAQ-listed instrument backed by a $50 billion balance sheet with 28 years of dividend runway. It's not a stablecoin. It has no peg. People are just searching for a villain near the bottom of a bear market." - Smeet Bhatt

"Maybe your miner costs 10 cents a kilowatt hour. Propane costs 9. But the miner gives you 3-5 cents back in sats. That's a 40-50% net cost reduction." Tyler Stevens on the real math behind heating with Bitcoin.

Micron Technology announces $250 million investment in Trump Accounts.

Someone is trying to claim Satoshi's coins through a New York courtroom, and they just got their first real challenger. An anonymous plaintiff "Noah Doe" filed a case in March claiming legal title over 39,069 dormant Bitcoin addresses holding ~3.8 million BTC. His move was to flag the wallets as abandoned, send OP_RETURN messages giving holders 90 days to respond, then claim everything that stayed silent as "lost property." He valued each wallet under $10 to exploit a fast-track provision in New York law. Now a respondent called "John Doe 33" has entered the case as an actual party, declaring they are "a natural human person" and "not a Bitcoin blockchain address, digital wallet, source code, or any other form of inanimate data." Unlike the earlier amicus brief that froze the case, a respondent can cross-examine and force the plaintiff to prove their claim. The blockchain is already undermining the case. Multiple "abandoned" addresses have moved coins since the filing, proving someone holds the keys. Next hearing: July 14.

"Mining has this interesting character arc. It started on laptops, got industrialized through economies of scale, and now it's at this choke point where it's going to come back home." Tyler Stevens on the mega miner apocalypse and why home mining's moment is now.

SEC Commissioner Hester Peirce says the Clarity Act is on track to pass this summer. "I expect that we'll see it pass soon."

Palantir CEO Alex Karp: "When OpenAI or Anthropic especially are talking about critical infrastructure, it only is being used in our product. My product." "The 'I'm gonna trust you, you should trust me cause I've never lied BS thing, that just doesn't cut it at this level.'"