financeMonday, June 29, 2026
The Bank for International Settlements is sounding the alarm on big tech's AI spending binge, warning it could trigger a global investment crisis. Meanwhile, oil prices are back above $70 as U.S.-Iran clashes escalate, and bitcoin ETFs are on track for their worst month ever.
Two big-picture stories dominated today: the BIS warning on AI spending and a fresh spike in oil prices from Middle East tensions.
The BIS draws a direct line from big tech's AI capex to a potential repeat of past investment booms that ended badly. It's the most authoritative warning yet that AI spending may be overdone.
Oil jumped back above $70 after a tanker was hit in the Strait of Hormuz, with Iran's neighbors also reporting incoming fire. The pattern of weekend strikes and temporary calm is keeping markets on edge.
Bitcoin ETFs are bleeding cash at a record pace, while Stellar's foundation quietly keeps funding builders.
Spot bitcoin ETFs saw $4 billion in outflows in June, the worst month on record, and last week alone saw $1.79 billion in redemptions. The selloff defied hopes that SpaceX's IPO would revive demand.
The Stellar Development Foundation is still actively funding projects via its community fund and grants, with two pathways for different stages. A quiet reminder that not all crypto is in retreat.
Another weekend strike in Iran, SpaceX in Nasdaqobd2reader.store
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The Taos Municipal Schools board approved an initial resolution on June 24 to issue an education-technology note not exceeding $5.5 million, a short-term financing mechanism for digital devices and related equipment. A follow-up meeting is scheduled in three to four weeks for fin
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