The U.S. Congress passed the "Big and Beautiful" fiscal bill on 5/22, extending tax cuts, increasing defense budget, and reducing social welfare spending, which has sparked concerns about rising fiscal deficits. In response, Coinbase CEO Brian Armstrong warned on 6/4 that if Congress continues to ignore the $37 trillion debt problem, BTC might rise and potentially replace USD as the global primary reserve currency. Meanwhile, states like New Hampshire and Arizona have begun incorporating BTC into their strategic reserves to protect themselves, echoing public doubts about USD's reliability.
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US Debt Deepens De-dollarization, Bitcoin May Become the Global Primary Reserve Currency
In summary, if the US government continues to print money and Congress cannot unite to reform the budget system, de-dollarization will deepen. From corporations to local governments, scholars to tech giants, there are increasingly more voices suggesting that Bitcoin might become the next "global consensus".
Risk Warning
Cryptocurrency investment carries high risks, and its price may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
Since the AI concept emerged, there have been discussions about AI replacing humans and destroying the world. Regarding this, AI crypto czar David Sacks directly pointed out on 6/2 in the famous tech channel 《All-In Podcast》 that this "AI doomsday theory" is fundamentally a narrative operated by Effective Altruism (EA).
He further stated that behind the narrative are former Biden administration staff, AI startup Anthropic, and core members of the EA funding network, collectively marketing through fear to gain global AI discourse rights. Sacks also highlighted a blind spot: "Is the US afraid of AI rebellion, or afraid that China will become the global AI leader? Don't surrender before the battle even starts."
[The rest of the translation follows the same approach, maintaining the structure and translating all non-tag text to English.]Here's the English translation:Who Can Write AI Models: So-called AI safety review is actually a review system intertwined with ideology.
Who Can Export Technology: The Biden administration uses executive orders to restrict chip exports and wants to incorporate the entire AI ecosystem into its own rules through international agreements.
Don't Just Fear AI Destroying the World, the Real Risk is China Leading Global AI
Sacks does not deny the "AI doomsday theory" is a possibility, but he believes this should not be the only risk to be concerned about.
He states that the risk of China leading the global AI order is more real and urgent, but those pushing for global AI governance have not mentioned this at all, only calling for restrictions on domestic US innovation. He says that by limiting itself, the US will ultimately lose to China, which does not follow these rules.
Government Using Ideology to Control AI is the Real Out of Control Scenario
Sacks finally warns that the real risk of AI potentially leading to a "dystopia" is governments and ideology joining hands to control AI.
He mentions past incidents like the "Black George Washington" image at Google and Biden's executive order pushing "Diversity, Equity, and Inclusion" (DEI) into AI models as evidence of government attempts to control the AI narrative. He states:
"This is not theoretical, it has happened. AI hasn't killed anyone, but it has been used to help lie and rewrite history."
(GPT Becoming a Bit Weird? Three Major Events Reveal Potential AI Uncontrolled Risks)
[The rest of the translation follows the same approach, maintaining the specified translations for specific terms]Will Pump.fun's Token Issuance Be an Experiment in Wealth Redistribution?
On-chain observer @MiyaHedge proposed a stunning calculation: "Pump.fun's earliest seed round valuation was only $12 million, and if calculated at the current valuation, early investors' book returns have reached up to 322 times, and may even reach a thousand-fold return at Token Generation Event (TGE)":
Although Solana users have gone bankrupt because of Pump.fun, if I were the team, I would still do this. Because to compete with platforms like Twitch or Kick, they need this $1 billion fundraising.
He believes that if the team can massively airdrop tokens to users, allowing gambling funds to flow back to the platform, it might create an "onchain stimmy". Although he personally leans towards thinking that such liquidity will ultimately flow out of the market, he still views this token issuance as a "positive event", an experiment in wealth transfer from the rich to retail investors.
Researcher Criticizes: It's Essentially an Escape Boat for the Team and Investors
Contrary to Miya, DeFi researcher @defi mochi directly criticized Pump.fun's token issuance as being for "allowing investors and the team to cash out":
Even with Bitcoin reaching a new high, Pump.fun's revenue has dropped by over 86% from its February peak, which indicates they are clearly aware that the platform is heading towards marginalization in an increasingly competitive landscape.
In his view, this token issuance is not a symbol of ecosystem growth, but Pump.fun's clear acknowledgment that its golden age has ended.
Pump.fun is Devouring the Solana Ecosystem with No Payback
Famous trader @imperooterxbt offered a more intense criticism of Pump.fun's impact:
The Pump.fun team pockets all user transaction fees, has parted ways with Raydium, and even launched their own AMM, negating Raydium's contribution to their growth.
He emphasized that while Pump.fun has driven trading enthusiasm, it is also draining resources from other Solana applications and protocols without giving back to the ecosystem, stating directly: "Pump.fun treats us like ATMs, not users."
He supports other competitors like Launchcoin and Believe app, believing these platforms are more willing to collaborate with the Solana ecosystem and are more friendly in profit distribution.
Looking Forward: Is Token Issuance a Transformation, Restart, or the Last Dance Before Exit?
Pump.fun's success proves the feasibility of "token issuance as value", but the notorious reputation has also caused a shaking or even collapse of the overall trust structure when joining the token issuance ranks.
Is this $4 billion valuation token issuance a successful capital leverage operation or the peak of a meme bubble? The answer is yet to be revealed. However, Pump.fun's move has indeed sparked debate and reflection in the crypto community about "fairness, payback, and trust".
Risk Warning
Cryptocurrency investment carries high risk, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
