Governments: Bitcoin is a scam

Meanwhile, their fiat currencies:

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Andrew Tate and Tristan Tate have been arrested by US Marshals in Miami after UK authorities lodged 38 additional charges against them for alleged “sexuaI offenses”

The two brothers will now be extradited to the UK to face legal proceedings.

Andrew and Tristan were both recently in Washington, DC and even met with members of Congress.

Now, they’re in federal custody.

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Crypto used to be the only way on earth you could lock in and make it in under a year with a starting bankroll of under 5 figures.

No networking, no inside info, just being early and having balls and conviction.

It’s not a proper bull run until that magical feeling comes back.

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Stop being patient and start asking yourself:

How can I accomplish my 10 year plan in 6 months?

You’ll probably fail, but you’ll be far ahead of the person who accepted it would take 10 years.

- Elon Musk

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Akon City was planned as a $6 billion "African Dubai" with its own cryptocurrency Akoin, skyscrapers, and a futuristic city, but after 8 years only an unfinished Welcome Center remains.

The project is now considered one of the biggest scams and failures of the crypto hype era.

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FTX will make its fifth creditor payment totaling around $900 million.

Creditors who completed all requirements (KYC, tax forms, and payment provider selection) by June 16 will receive payments on July 31. Funds will be sent via BitGo, Kraken, or Payoneer within 1–3 business days.

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✋ Venice Updates VVV and DIEM Tokenomics

Venice (VVV) has updated the tokenomics of VVV and DIEM. Now, 5% of every API credit purchase (equivalent to $5 per $100 spent) will automatically be used to buy VVV on the open market and burn it.

This deflationary mechanism, previously applied to Pro, Pro+, and Max subscriptions, now extends to API users. All transactions will be recorded separately on the burn statistics page. Additionally, the target supply of DIEM will increase from 38,000 to 40,000 tokens.

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📈 AI Makes Humans Cheaper Than Software

Venture fund Andreessen Horowitz (a16z) shared insights from Hebbia CEO George Sivulka, who said AI is not replacing employees but changing how work is organized.

He noted that for the first time, humans have become cheaper than software, shifting companies' focus to managing AI agents rather than developing new models. Despite this, tech firms continue large-scale layoffs while increasingly automating processes with AI.

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Gm

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😏 Vitalik Buterin Calls to Slow AI Development

Vitalik Buterin believes humanity is advancing AI too quickly without understanding if humans will retain unique advantages over it. He warns that the arrival of AGI will be a point of no return, enabling automation of most jobs and ending guaranteed human leadership.

Buterin advocates for slower AI progress, open model development, and closer human-technology integration to reduce risks of power concentration.

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🚩 KAITO Token Unlock Claims Debunked

On-chain investigator MLM claims the announced KAITO token unlock schedule, which was supposed to start in February, has not actually begun. He estimates that 88% of the total KAITO supply remains in wallets linked to the project team.

Only 2.5% of the supply was moved to the Sablier protocol for potential unlocking, but these tokens have yet to be distributed. An unlock of 17.6 million KAITO (around $17 million) is scheduled for this week.

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📣 Movement Labs Files for Bankruptcy

Movement Labs, the Ethereum layer-2 project built on Meta’s Move language, has filed for bankruptcy. After launching its MOVE token in December 2024, a CoinDesk report revealed a market-making deal gave one party control over the circulating MOVE supply.

66 million MOVE tokens were dumped a day after launch, and Binance banned the market maker’s account. Co-founder Rushi Manche left in May 2025.

In June 2026, Movement pivoted to cross-border payments and stablecoin settlements, citing licensed payment infrastructure in the US, Canada, and the EU.

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🙁

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✈️ Durov announced a native non-custodial Gram wallet will be integrated into all Telegram apps.

Over one billion users will get instant crypto transfers with no fees.

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💰 A whale who held BTC for over 12 years has fully exited their position.

An unknown investor sold the last 1,000 BTC from a wallet that held 5,000 BTC since 2013, originally purchased for about $1.6 million and sold for around $434 million.

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📣 Musk Predicts Economy Overhaul in 10-20 Years

Elon Musk believes that advances in AI and humanoid robots will nearly eliminate the cost of human labor, radically transforming the global economy.

He suggests that saving for a "comfortable retirement" may become meaningless as the world will be fundamentally different in 10-20 years.

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Algorithmic stablecoin Balance Coin (BLC) plunged over 99% after 42DAO hack stole $915,000.

The lessons from Terra (LUNA) remain unlearned.

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