🗞️ Need to catch up on the news? Here's our top 10 from today:
🔸 Meta is working with Morgan Stanley and JPMorgan on a ~$13 billion financing package for a data center in El Paso, Texas.
🔹 Senators Tillis and Alsobrooks say the stablecoin yield compromise in the CLARITY Act is final, pushing back on banking industry criticism with a joint statement.
🔸 Elon Musk has agreed to pay $1.5 million to settle SEC allegations that he failed to properly disclose his growing Twitter stake in 2022, without admitting to the allegations.
🔹 "The Big Short" investor Michael Burry has sold his entire GameStop $GME position.
🔸 The Trump administration is considering an executive order to create an AI working group to review new AI models before release, per NYT.
🔹 Banking trade groups say the CLARITY Act's stablecoin yield language "falls short" of a full prohibition.
🔸 Anthropic and FIS are partnering to build an AI agent that helps banks independently investigate financial crimes, per WSJ.
🔹 Senator Cynthia Lummis urged immediate passage of the Clarity Act, warning that without clear rules, crypto businesses may move overseas.
🔸 SEC’s Paul Atkins said the agency is working with the CFTC to provide long-overdue regulatory clarity and support digital asset innovation in the U.S.
🔹 $114T+ custodian DTCC to pilot tokenized securities trading in July, with full launch set for October.
