TL;DR

Trump Media and MicroStrategy boost bitcoin holdings; Opendoor surges; Fed faces heightened political scrutiny.

Highlights

• Trump Media disclosed a $2B bitcoin position—two-thirds of its liquid assets; shares rose 6–9%1.
• MicroStrategy purchased 6,220 bitcoin for $740M, bringing its holdings to over 600,000 BTC ($72B market value)2.
• Opendoor surged 635% in a month on retail-driven, meme-style trading and record options activity5.
• Palo Alto Networks denied reports of advanced $8–10B acquisition talks for SentinelOne after initial market speculation3.
• Treasury Secretary Bessent called for a full review of the Federal Reserve, increasing scrutiny of Chair Powell amid a $2.5B HQ renovation6.
• House Republican referred Fed Chair Powell to DOJ for alleged perjury tied to renovation cost disclosures7.
• US Leading Economic Index fell 0.3% in June, marking a third consecutive recession signal; GDP still seen up 1.6% in 202510.
• Bank of America now expects no Fed rate cuts in 2025, citing resilient spending and sticky inflation11.
• Polymarket acquired CFTC-licensed QCEX for $112M, enabling a regulated US relaunch of event-derivatives trading12.
• Morgan Stanley upgraded Pinterest to Overweight, raising its price target to $45; shares gained 4–5%16.
• US-China economic talks are expected soon, with focus on oil purchases and industrial overcapacity9.

Commentary

Corporate crypto adoption remains in focus as Trump Media and MicroStrategy both made significant bitcoin disclosures. DJT’s $2B bitcoin allocation1 and MicroStrategy’s continued accumulation2 reinforce the trend of public companies using digital assets for treasury management. Both stocks responded positively, and the moves may continue to drive volatility in crypto-exposed equities and related sectors.

Meme-stock dynamics resurfaced with Opendoor , which saw a dramatic retail-driven rally and options surge despite ongoing business risks5. The scale of the move, combined with high short interest, highlights renewed speculative activity in select small caps.

Political pressure on the Federal Reserve escalated, with Treasury Secretary Bessent demanding a full institutional review6 and a House Republican referring Chair Powell to the DOJ for alleged perjury tied to HQ renovation costs7. This introduces additional uncertainty around Fed leadership and policy direction, particularly as the market digests conflicting signals: the Conference Board’s leading index continues to signal economic slowdown10, while Bank of America projects no Fed rate cuts this year due to resilient consumer demand and persistent inflation11.

Elsewhere, Palo Alto Networks ’ denial of SentinelOne takeover talks cooled sector M&A speculation3, while Polymarket’s acquisition of a CFTC-licensed exchange signals renewed momentum for regulated event-derivatives in the US12. Morgan Stanley’s Pinterest upgrade underscores continued investor interest in digital advertising and AI-driven growth stories16. US-China economic talks remain on the agenda, with potential implications for trade and commodity flows9.

Traders should monitor crypto and meme-stock volatility, Fed-related headlines, and any late-session moves in high-beta tech and financials as political and macro crosscurrents persist.