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The U.S. Senate passed the Housing Affordability Act with a high vote of 85:5, bundling a four-year central bank digital currency ban within the bill. The Federal Reserve will not issue digital dollars before the end of 2030, while the European Central Bank and China have already taken the lead with their digital currencies.
(Background: Crypto legislation delayed again! U.S. Senate leaders: The Market Structure Act could pass as early as April, with the CBDC ban amendment clearing the way first.)
(Additional background: Stablecoins and CBDCs are competing—can only one survive?)
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Housing Bill Includes a CBDC Ban
The Path of Digital Dollars: From Europe to Central China
The Federal Reserve Chair’s View of “Bad Policy”
Implications for Taiwan
On Monday night, the U.S. Senate passed the “21st Century ROAD to Housi” Housing Act (21st Century ROAD to Housi…) with a high vote of 85:5.

Bloomberg's latest report reveals: Taiwan is staging a nationwide frenzy of borrowing money to invest in stocks. Driven by the AI chip boom, the Taiwan stock market has surged over 100% in the past year, ranking as the fifth-largest stock market in the world. The margin loan balance has skyrocketed by 160% in a year, approaching the historic high before the internet bubble in 2000.
(Background summary: TSMC is fully pushing forward CoPoS packaging materials for mass production in 2028! TrendForce: Taiwanese panel manufacturers are competing for the glass substrate market with FOPLP technology)
(Additional background: Is the token subsidy war cooling down? Google Ventures founder warns: If AI prices drop, business models will collapse entirely)
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Taiwan stocks have doubled in a year, ranking fifth in global market value
Internet celebrity Ba逆逆

Google DeepMind announced it will invest $75 million in a “first-of-its-kind” AI film research collaboration with A24, the publisher of *Mother of All Multiverses* and *Backrooms*, working together to build generative film and media tools designed specifically for artists.
(Recap: Vitalik issues a challenge to AI—using a writing style to uncover his anonymous Ethereum files)
(Background: After a former Blizzard engineer’s six-month job search failed completely, they said the software industry is doomed)
The line between Hollywood and Silicon Valley is starting to blur. This Monday, Google DeepMind officially announced that it has reached a research partnership agreement with the well-known independent film studio A24 with a total amount of $75 million. According to what was disclosed by *The Wall Street Journal*, the funding will be in the form of an investment, and the two sides will jointly develop AI tools dedicated to the film production field,

Ethereum co-founder Vitalik Buterin posted a challenge to AI on the X platform on the 23rd, revealing that earlier this year he wrote an important Ethereum document anonymously, inviting the community and AI to identify him among hundreds of files by analyzing writing style, testing whether online anonymity is breaking down.
(Background summary: AI investment guru Serenity: The AI bubble will not burst this year! Tech giants' capital expenditure will surge until 2028)
(Additional background: Micron makes strategic investment in Anthropic Series H funding! Both parties sign a long-term HBM supply agreement)
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Challenges of AI de-anonymization experiments
Scale of files in the Ethereum ecosystem
The significance of anonymous culture
Ethereum co-founder Vitalik Buterin posted a challenge to AI on the X

In 2026, the tech industry’s unemployment rate has reached its highest level since the 2001 dot-com bubble. A software engineer who worked at Blizzard for 7 years described the absurd reality of AI proctoring and, after 6 months of job searching with no results, the fact that companies simultaneously require developers to count the number of tokens burned for Claude as a KPI.
(Previously: Anthropic was “banned” by the U.S. government and removed the Fable model. Foreign media pointed to three major concerns: potentially helping China’s open-source AI.)
(Background: Musk has reinvented himself as a compute-power arms dealer! SpaceX signs a $6.3 billion deal to rent Nvidia GB300, boosting open-source AI.)
An anonymous software engineer recently recorded on his personal blog an account of how he kept running into dead ends in interviews over the past six months, titled “Work and Software”

June 22, the US dollar against the Japanese yen briefly reached 161.93 in the New York foreign exchange market, approaching the 39-year low since December 1986. Japan has spent over 73 billion US dollars this month intervening in the currency market, but the US-Japan interest rate differential still supports the dollar's strength.
(Background: Yen rebound hopeless? Sanae Takaichi persuades Kazuo Ueda "not to raise interest rates," BOJ may hold steady in March)
(Additional background: Weak yen triggers inflation red line: Bank of Japan may be forced to raise interest rates early)
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Japan intervention: one month of record numbers
Impact on Taiwanese investors
What to watch next
On June 22, a wave of yen selling occurred in the New York foreign exchange market, with the US dollar against the yen soaring to 161.93. This was just shy of the 39-year low since December 1986. Taipei Fubon Bank pointed out that the market

Tech giants are pouring down thousands of billions of dollars to build AI data centers, pushing electrical workers’ hourly wages to $59.50 and annual salaries to as high as $120k. IBEW estimates that more than 300k additional electricians will be needed over the next decade. But on community forums like r/electricians, an ethical debate is heating up.
(Background: U.S. energy regulator FERC orders six major grid operators to “accelerate” AI data center interconnection application processing)
(Additional context: The Financial Times: Meta plans to issue “hundreds of billions of dollars in new shares” to expand AI infrastructure, following Alphabet’s fundraising frenzy)
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The wallet is fat—what about conscience?
“I’d rather have it built well, but I won’t take on this kind of job”
“Orphan machines”: a collective compromise in black humor
A typical

OpenAI announces the "Patch the Planet" initiative, collaborating with cybersecurity firm Trail of Bits, which in the first week discovered hundreds of security vulnerabilities, submitted 64 pull requests, and opened 51 issues, spanning 19 core open-source projects worldwide including cURL, Python, and PyPI.
(Background recap: Getty Images surged 300% before the market open! Signed a contract with OpenAI, licensing copyrighted images into ChatGPT)
(Additional background: Anthropic was "banned" by the U.S. government and removed the Fable model, with foreign media citing three major concerns: potentially aiding China in open-source AI)
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cURL, Python, PyPI: Why these projects

AI tools are pushing the speed of text generation to its limit, while simultaneously triggering information overload and work anxiety. Multiple companies are betting that e-paper notebooks (eNote) will become the outlet for this backlash, targeting new needs for deep thinking and handling private information.
(Background recap: Anthropic Fable 5 is being watched by Trump—who’s quietly smirking from the sidelines? The media reveals three major beneficiaries.)
(Additional context: Vance supports the U.S. government taking an equity stake in AI giants like OpenAI and Anthropic, while Musk is against it: it’s best to just hand out money; in the future, we must fight deflation.)
A PDF summary takes just 30 seconds, and a weekly report draft takes only 1 minute— the barrier to information production has nearly dropped to zero. But problems are emerging just as quickly: in a flood of automatically generated text, which judgments truly belong to people themselves?
The answer the e-paper industry is betting on is a piece of

Grayscale Research Director Zach Pandl stated on the 23rd that if the Federal Reserve maintains interest rates unchanged for the remainder of 2026, Bitcoin's price is expected to catch up with the stock market's gains, offsetting recent declines.
Since the start of the conflict in February, U.S. stocks have risen 9%, BTC has slightly fallen by 1%, and gold has dropped 20%.
(Background: Nomura's chief warns: No rate hikes by the Fed in June mark a key turning point for AI)
(Additional context: Fed's new chair cautiously hawkish! Refuses to promise rate cuts, initiating "Federal Reserve reform," dot plot hints at rate hikes in 2026)
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Interest rate expectations increase holding costs
Bitcoin's dual functions
Grayscale's judgment and market divergence
Grayscale Research Director Zach Pandl stated on the 23rd that if the Federal Reserve (Fed) maintains interest rates unchanged for the rest of 2026, Bitcoin's price is expected to catch up with the stock market's gains, offsetting recent declines.

The head of South Korea's Financial Supervisory Service (FSS), Lee Chan-jin, publicly admitted that he regrets not being able to prevent the leveraged ETFs tracking Samsung Electronics and SK Hynix stocks from launching in May. They are currently working with the Financial Services Commission (FSC) and the Korea Exchange to develop regulatory plans.
(Background: Too crazy! Bloomberg analyst: Hong Kong's "double long SK Hynix ETF" scale has increased tenfold, with daily trading volume surpassing $1 billion)
(Additional background: SK Hynix's market value has surged past 1,000 trillion won! The stock price jumped 11% in a single day, supported by AI memory demand, reaching a valuation of $710 billion)
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Asset size tripled in one month
The "borrowing fire" logic transplanted from Hong Kong, with less-than-expected results
How leveraged ETFs "self-amplify" market volatility
Tripartite joint development of regulatory measures

In an interview, U.S. Vice President Vance publicly expressed support for Trump’s sovereign fund model, which would allow the federal government to hold shares in major AI companies such as OpenAI and Anthropic; if calculated based on a 10% stake in leading AI companies, this position could exceed $500 billion.
(Background: Trump called for taking an equity stake in U.S. AI companies, with talks with OpenAI, Anthropic, and xAI potentially as early as this week; Altman floated the idea of a “public wealth fund”)
(Additional background: Anthropic has completed 300)

Meta launched the "Model Capability Initiative" in April 2026, recording mouse movements, clicks, and keystrokes on employees' computers in the United States to train its own AI models. The project was exposed due to an internal security incident: an employee submitted a high-priority security report indicating that leaked data included complete prompts and transcripts, private conversations, personnel performance data, and internal data sensitivity ratings. Meta announced a suspension of the project to investigate, emphasizing that there is currently no evidence of improper data access by employees.
(Background summary: Former Meta executives' employment advice for the AI era: a ten-year career plan is outdated; just focus on these two things)
(Additional background: Peter Thiel's secret society Dialog

After the sell-off caused by Huashu hawkish FOMC, the market is stuck in a choking consolidation at the bottom. Today, BTC barely managed to turn green and rebounded to $64,230 (+0.52%), while ETH also inched up +0.43% in sync—more like “a pause from a breath of relief amid extreme fear,” not a counterattack. In the past 24 hours, total liquidations across the whole network hit $368 million, with long positions accounting for the bulk; the fear index is 23, having remained trapped in the extreme fear zone day after day.
(Background recap: Hawkish shadow pressing down—Bitcoin fell below $63,270 and choked into consolidation; the fear index is down to 20, with $140 million liquidated in a single day.)
(Additional background: K33 Research: Long-term Bitcoin holders reached 79%, a new all-time high! Exhausted sell pressure hints that the bear market may be reaching its bottom.)
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Bloodbath among multiple sides: $368 million liquidated in 24h, largest single liquidation $11.09 million
Why the market still can’t shake off fear

According to MIT Technology Review, the well-known AI startup Anthropic has recently been subject to export controls imposed by the U.S. government due to online security controversies involving its models “Mythos” and “Fable,” forcing the company to urgently revoke access to those models. Analysis suggests that this move may not only weaken the United States’ own cyber defense capabilities, but also potentially cede the market to China’s open-source AI models, raising deep concerns about sovereignty and competition.
(Background recap: Micron makes a strategic investment in Anthropic’s H round of fundraising! The two sides signed a long-term HBM supply agreement, $MU ’s stock surged past 1200 and hit a new all-time high)
(Additional context: Anthropic Fable 5

According to an official press release released today (22nd) by the asset management giant Franklin Templeton, the company has officially completed its acquisition of the active cryptocurrency investment firm 250 Digital. This move will help establish a new dedicated division, “Franklin Crypto,” led by industry veterans, combining Franklin’s global distribution network to comprehensively target the massive opportunity in the institutional-grade crypto investment market.
(Background: Franklin Templeton has filed for two “Bitcoin DRIP” ETFs, with dividends automatically reinvested into BTC, with the potential to launch as early as September)
(Additional background: Franklin Templeton’s acquisition of 250 Digital and the establishment of the new division “Franklin

SpaceX has transformed its massive computing power infrastructure into a commercial powerhouse, signing a computing power leasing agreement worth up to $6.3 billion with open-source AI startup Reflection AI. Reflection will directly use the top-tier Nvidia GB300 chips from the Colossus 2 data center to help drive the development of “American Open Intelligence.” This move marks SpaceX’s official entry into the cloud computing power provider battlefield, opening up a brand-new revenue engine.
(Background: SpaceX plans to issue $20 billion in corporate bonds—where will the funds be used, and what do the three major credit rating agencies think?)
(Additional context: Retail investors are furious at SpaceX as a scam! A high-priced IPO hijacks American 401(k)s)

According to foreign media Protos, the decentralized lending protocol Goldfinch, supported by top venture capital firms like a16z, has seen its vision of financial inclusion in emerging markets such as Africa shattered.
Due to the failure of traditional credit review mechanisms, the protocol experienced a massive loan default exceeding $18 million, causing the native token GFI to plummet by 99.8% from its all-time high, with its market capitalization shrinking to less than $6 million, sparking strong dissatisfaction among community investors.
(Background summary: RWA can't be trusted? Goldfinch's lending has failed twice, losing $12 million)
(Additional background: Pendle's total settled volume has reached 69.8 billion dollars: government bonds, private credit, listed company dividends, becoming on-chain yield sources)
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Top VC backing, shattered vision of financial inclusion

According to the latest long post published on X by Aerugo, a member of the Ethereum Foundation (EF), the EF’s mission has been fully clarified. In the future, it will do its utmost to defend Ethereum’s position as a “truly permissionless, self-sovereign infrastructure.” In the post, Aerugo lays out the EF’s countermeasures against harmful MEV, privacy protection, and staking centralization, and directly responds to personnel changes and project Spinout rumors that have recently drawn attention from the community.
(Background: the notorious Ethereum MEV bot JaredFromSubway got caught—turned the tables with 66 fake contracts and counterattacked a total of $15 million)

Global energy giant Chevron and Microsoft announced on the 22nd that they have signed a 20-year power purchase agreement. Chevron will build a dedicated natural gas power plant with a capacity of up to 2.67 GW in West Texas, directly supplying power to Microsoft's AI data centers. This move highlights the enormous demand for energy infrastructure driven by the AI computing arms race, with the first batch of electricity expected to be officially delivered in 2028.
(Background recap: Microsoft CEO warns: AI is replicating globalized tragedies, and every company must accumulate "human capital" + "Token capital")
(Additional background: Bill Ackman warns: The market blindly chasing AI is "repeating 2000")