A person familiar with the matter said tech investor Sriram Krishnan, who has helped shape the Trump administration’s pro-industry AI policy, planned to leave the White House at the end of this month to start an outside organization aimed at influencing technology policy. According to Jin10, Krishnan was one of the architects of the administration’s “AI Action Plan,” which laid out an approach to easing regulation of new technologies and promoting nationwide data center construction. The source said he also helped draft an executive order intended to limit states’ ability to regulate AI. However, advanced AI models such as Anthropic’s Mythos have demonstrated an ability to identify software security vulnerabilities, raising concerns among senior government officials about the risk of cyberattacks. The concerns have prompted some officials to reassess the looser regulatory approach promoted by Krishnan and others, the source said.

SpaceX is set to price what it calls the largest IPO in history next week at a valuation near $1.77 trillion. According to BeInCrypto, the filing shows SpaceX was profitable until an all-stock xAI merger closed in February, flipping 2025 results to a $4.94 billion net loss from $791 million net income in 2024; it then posted a $4.28 billion Q1 2026 loss. The IPO is pitched at $135 per share, about 94 times 2025 revenue of $18.7 billion, with Starlink subscribers rising to 10.3 million by March 2026 while ARPU fell to $66 from $99 in 2023.

Goldman Sachs partner and head of Americas equities execution services John Flood said the sharp drop in U.S. stocks on Friday represented a buying opportunity on weakness, describing the pullback’s technical profile as more consistent with a healthy correction. According to Odaily, Flood said the decline was mainly driven by profit-taking ahead of the weekend and expectations of increased new share supply. He added that the recent retreat looked like a normal correction within a bull market rather than a trend reversal. Flood said markets remain concerned about inflation pressures, Iran-related geopolitical risks, and potential uncertainties in private credit markets, which he said indicates investors have not become overly optimistic. Flood also said there is a clear path for the S&P 500 to reach 8,000 this year, adding that there are not many opportunities to buy the dip this year. He said historically, buying when the S&P 500 pulls back 2% has typically generated returns.

JPMorgan Chase, Bank of America, Citigroup and other major lenders plan to launch a shared tokenized deposit network through The Clearing House by the first half of 2027, enabling 24/7 blockchain-based settlement of bank deposits. The initiative aims to counter stablecoins such as Circle’s (CRCL) USDC and Tether’s USDT by keeping customer funds within the regulated banking system while offering similar speed and efficiency for payments and transfers, according to CoinDesk.

Bitcoin’s daily relative strength index (RSI) has fallen to about 15.5 after dropping roughly 30% over the past month, marking its lowest level since the March 2020 pandemic-driven market crash and indicating extremely oversold conditions. According to ChainCatcher, analysis said similar RSI levels appeared during the 2020 pandemic selloff and a February 2026 correction, which were followed by rebounds of about 50% and 30%, respectively. The report said bulls are still holding the $60,000 support level. If that support remains intact, Bitcoin could see a technical rebound in the coming weeks toward around $70,650, near the 20-day exponential moving average (EMA). If Bitcoin breaks below $60,000, it may fall further toward the mid-$50,000 range. ChainCatcher also reported that Bitcoin short-term holders’ realized profit-and-loss ratio has dropped to a record low, suggesting many recent buyers are exiting at a loss and sentiment is nearing panic. Crypto analyst Scott Melker said about 5.3 million long-term held bitcoins are currently in unrealized losses, a larger amount than during the FTX collapse and the highest since the March 2020 selloff. Melker added that sentiment tends to move closely with price, noting traders were highly optimistic at May’s peak but turned extremely pessimistic when Bitcoin fell on June 3, and that such conditions “usually” suggest a bottom may be near.

The U.S. economy added 172,000 jobs in May, exceeding Wall Street economists’ expectation of 80,000, while the unemployment rate held at 4.3%. According to NS3.AI, the Bureau of Labor Statistics also revised March and April payroll figures higher by a combined 93,000 positions. The stronger labor report was seen as reducing the Federal Reserve’s incentive to cut interest rates. Bitcoin slid toward $60,000 by Friday following the data. Fabian Dori said resilient payrolls take a June rate cut off the table.

Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering key news, market and contract data, mining information, project updates, technological advancements, and other industry dynamics.

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