Bitcoin surpasses $64,000 while SpaceX sets a record with a $75 billion IPO. U.S. authorities restrict access to Anthropic's AI models.
Bitcoin has surged past the $64,000 mark, while SpaceX achieved a historic milestone with a $75 billion IPO. Additionally, U.S. authorities have imposed restrictions on two AI models from Anthropic.
Bitcoin's Price Surge
At the start of the week, Bitcoin's value rebounded to around $64,000, despite experiencing volatility due to conflicting reports regarding the U.S.-Iran situation. By the weekend, comments from President Donald Trump about a potential deal contributed to a rise in Bitcoin's price, which increased by over 4% throughout the week.
Other cryptocurrencies also saw gains, with Solana and Hyperliquid rising by 5.26% and 5.47%, respectively, while TRON fell by 3.4%. Despite continued outflows from spot Bitcoin ETFs, the rate decreased significantly, with outflows totaling $315.8 million compared to $1.72 billion previously. On a positive note, $85.8 million flowed into products on Friday, signaling some market recovery.
The cryptocurrency market capitalization has recovered to $2.2 trillion, with Bitcoin's dominance rising to nearly 59% and Ethereum holding steady at around 9.2%.
SpaceX's Record IPO
SpaceX has made history with its IPO, pricing shares at $135 and raising $75 billion by selling 555.5 million shares. This amount surpasses the previous record set by Saudi Aramco in 2019. Following the initial trading session, SpaceX's stock price increased to around $161, leading to a market cap of $2.1 trillion. The company reported a 15% revenue increase to $4.69 billion in the first quarter, despite a net loss of $4.28 billion, primarily from its Starlink satellite internet service.
The IPO could potentially spark a wave of initial public offerings in the AI sector, following the recent confidential filing by OpenAI with the U.S. Securities and Exchange Commission.
Anthropic's AI Model Restrictions
On June 12, Anthropic disabled access to its Fable 5 and Mythos 5 models shortly after their launch due to U.S. government export controls. This directive prohibits access for foreign nationals, including Anthropic's foreign employees. The company linked this action to concerns about potential vulnerabilities in the models.
CEO Dario Amodei, in a recent essay, emphasized the need for stricter AI regulations in light of rapid technological advancements. Allegations arose that Anthropic's models were used to facilitate cyberattacks, prompting government intervention.
New Developments in AI and Crypto
MetaMask has introduced the Agent Wallet, a non-custodial wallet designed to automate user interactions with decentralized applications. This wallet allows users to retain control over their keys while benefiting from automated features.
In other news, the Zcash team has approved the Ironwood upgrade, which will enhance security and restrict ZEC supply following a vulnerability discovery. The upgrade is set to be activated in July, following a previous fix that led to a significant price increase for ZEC.
Additional Highlights
- On-chain data suggests Bitcoin miners are capitulating.
- Google opted out of the U.S. quantum program.
- The Humanity Protocol token dropped following a $31 million hack.
- A tax crypto law project in Russia has passed its first reading.
