Tech News
LAST UPDATE: June 18, 2025
Crypto Is Investing in Democrats to Advance Agenda in Congress
Crypto firms are increasing investments in Democratic campaigns—hiring advisers tied to Biden and Harris, and funding Senate candidates—to secure regulatory support for stablecoin and broader crypto legislation. (m.fastbull.com)
Insight
The pivot toward Democrats shows crypto’s strategy to lock in pro-industry rules, especially considering expected Democratic control in future Congress sessions. By embedding itself into both parties, the sector aims to ensure sustained legislative momentum.
Musk’s xAI in talks for $4.3 billion equity funding
Elon Musk’s AI startup xAI is negotiating a $4.3 billion equity financing round—on top of $5 billion in debt—to fund its chatbot Grok and cover high monthly expenses (~$1 billion/month). Valuation estimated at $80 billion.
Insight
The funding drive reflects the capital intensity of cutting-edge AI development. With rapid burn rates and lofty ambitions, xAI needs substantial investment to compete with giants like OpenAI and Google.
Coinbase seeking US SEC approval to offer blockchain-based stocks
Coinbase is applying for SEC permission—via a “no-action letter” or special exemption—to offer tokenized U.S. equities on blockchain, enabling 24/7 trading and faster settlement, putting it in potential competition with traditional brokers.
Insight
This marks a major strategic expansion for Coinbase, blending crypto and traditional finance. Regulatory clarity is key, and success could redefine brokerage competition.
The AI Revolution Isn’t Possible Without an Energy Revolution
In a June 17 article, OpenAI CEO Sam Altman testified before Congress, warning that AI’s progress is fundamentally constrained by energy capacity: “The cost of AI will converge to the cost of energy.” He estimates the U.S. will need about 90 GW—equivalent to 90 nuclear plants—of additional clean power to sustain AI growth. Altman urged policymakers and industry to integrate energy and AI strategies, mandate carbon accounting for AI operations, and invest in energy-efficient infrastructure. Without this, AI risks becoming environmentally unsustainable.
Insight
Altman reframes the AI narrative, pointing out that true AI advancement isn’t just about algorithms—it requires massive clean-energy scaling. This insight highlights a pivotal bottleneck: AI’s future hinges on energy policy and infrastructure, not just innovation.
