🐶📰 Weekend Update

BTC $60,195 (-0.1%) | ETH $1,579 (-0.2%) | SOL $72 (0.1%)

Welcome to the Daily Bone Weekend Update where we recap the top stories from the week. Be sure to check out our daily newsletter to get all of your news hot off the press each and every weekday!

Headlines

• US Government forced slow rollout of OpenAI’s GPT5.6 due to “Mythos-like” capabilities — OpenAI executives pushed to delay IPO to next year

• US Senate passed resolution to end military action against Iran — US bombed Iranian targets on the Strait of Hormuz on Friday

• MSTR fell to 23-month low — CryptoQuant suggested Strategy pauses their BTC purchases — STRC falls below $75

• Spot Bitcoin ETFs saw $1.78 in weekly net outflows as Bitcoin fell as low as $58k

TradFi

• Apple had its worst day in 14 months as its stock cratered 6% after announcing price increases across the board

• US PCE inflation rose to 3 year high

• South Korea’s Kospi index and Japan’s Nikkei both crashed on Friday

• Ethereum DAT company Bitmine was added to the Russell 1000

Crypto

• The Ethereum Foundation cut 20% of its staff — Vitalik spoke on 40% budget cut for the foundation this year

• Binance will stop serving EU clients next week after they failed to secure a MiCA license

• Kraken in talks to acquire Aave at a $385M valuation — AAVE is up over 19% on the week and trading at a $1.4B FDV

• Confidential witness testimony suggested Pump Fun was buying early stage tokens and selling them on retail buyers

• Number of crypto VCs fell to 6-year low

AI

• Five Eyes released statement on frontier AI models: “Frontier Al models are anticipated to exceed current industry expectations, fundamentally transforming both offensive and defensive cyber capabilities. The timeline is not years, it is months“

• Xbox raised console prices due to increased chip prices

• Seedance 2.5 features were revealed

• Trump admin pushed META to submit its AI models to the government