Hey,
Prices dropped this week (surprise, surprise!)
But the biggest players bought the dip.
At the same time, AI kept pushing deeper into crypto, and the top AI labs are racing to go public.
Here's what matters:
📉 The market
Bitcoin broke below $60K over the weekend (first time since 2024) and sits near $63K now.
ETH got hit harder, tapping $1,700 before stabilising under $2K.
Drivers:
$2B+ out of Bitcoin ETFs, capital rotating into A.
Middle East energy spikes feeding Fed rate fears.
Risk money is being selective, and right now it likes AI more than crypto.
🧠 But here's the thing, the biggest treasuries used the red to load up:
🟠 Strategy (Saylor) bought back in.
After its first-ever bitcoin sale in late May, Strategy bought 1,550 BTC (~$101M) at an average of $65,332.
It now holds 845,256 BTC — about 4% of all bitcoin that will ever exist.
🔹 BitMine made its biggest ETH buy of the year.
Tom Lee's firm grabbed 126,971 ETH (~$214M) near the year's low.
That brings it to 4.59% of all ETH, on the way to a 5% target.
Lee's take: the dip "does not reflect Ethereum's fundamentals."
So while retail saw a selloff, the largest BTC and ETH treasuries on the planet saw a sale.
Which is exactly why the next story matters: Crypto's answer to the AI rotation is to become the AI trade. 👇
🦊 MetaMask just gave AI agents a self-custody wallet
On June 8, MetaMask launched Agent Wallet early access, CLI-first, opened to roughly 200 traders and developers.
The pitch is simple: Give an AI agent scoped, self-custodial signing authority to transact across DeFi on your behalf.
Every transaction passes through simulation, Blockaid threat scanning, and MEV protection before it executes. Malicious ones get auto-rejected.
There are two settings worth understanding:
💂 Guard Mode (default):
Allowlisted protocols, daily spend limits, and 2FA on anything outside your policy.
Out-of-policy transactions pause and ping your phone; stale approvals auto-decline after 5 minutes.
🐺 Beast Mode (opt-in):
Fewer interruptions, but it still runs every security check and still forces 2FA on anything flagged malicious.
This is the first credible attempt to let an agent trade DeFi without you handing over a naked private key.
That's the whole game: autonomy with guardrails.
General availability is expected this summer.
This is the quiet start of "agentic DeFi":
Don't hand a bot your main wallet yet, but spin up a small Guard Mode allowance and learn how it behaves now, because by the next bull run this is how a lot of people will trade.
🧠 The frontier AI labs are racing to go public
Remember that capital "rotating into AI" I mentioned up top?
This is where it's headed.
In under two weeks, the biggest names in frontier AI have all lined up at the IPO door:
Anthropic filed a confidential S-1 on June 1 at a $965B valuation — the front-runner of the pack.
OpenAI followed on June 8 with its own confidential S-1 at $852B, riding a $122B March raise, 900M weekly ChatGPT users, and ~$25B in annualised revenue. The catch: it's still burning enormous sums on compute (a deeply negative operating margin), so the public-market test is real.
SpaceX is out running an investor roadshow.
This is the same liquidity wave pulling money out of BTC and ETH right now.
When these listings actually price, they'll set the risk appetite for every speculative asset, crypto included.
Watch them as a macro signal, not just AI gossip.
The market is deciding how much it'll pay for "AI exposure," and crypto is competing for the exact same dollars.
🤫 "Claude Fable" may drop today
Not confirmed yet — but keep it on your radar.
Several reports (led by Alex Heath) say Anthropic could release its first public Claude 5 model, reportedly called "Claude Fable", as early as today, June 9.
It's said to be a safer, public version of Mythos, Anthropic's most powerful internal model: same core tech, but with stronger guardrails and weaker hacking abilities than the version only ~200 vetted partner organizations can access.
The big upgrade:
It handles long, complex, multi-step tasks much better, which is exactly what AI agents need to manage things on-chain (MetaMask story above).
Prediction markets put the odds of a Claude 5 launch before June 30 at ~94%.
Anthropic hasn't confirmed it, so treat it as a strong rumor, not a fact, but you might already know by the time you’re reading this!
💭 Notice what every story this week had in common: AI.
Agents are getting wallets, the labs behind them are going public, and the models are getting smart enough to actually trade and manage crypto for you.
AI is crypto's rival for money today, but its biggest customer tomorrow.
The projects that win this cycle won't fight that shift; they'll plug into it.
See you next week!
— Juan