☕ More deaths at Gaza aid site

Good morning!

Shower thought of the day, courtesy of @unclefishbits on Reddit: When you eat at home with your partner, it's weird to eat different entrees, but when you eat at a restaurant with your partner, it's weird to eat the same entree.

Well, huh.

I’ve got 30 seconds

Some headlines from this morning:

• Hackers have been attacking Microsoft's SharePoint platform since Sunday, stealing data from governments, businesses, and universities worldwide. Microsoft confirmed the breach exploits a "zero-day" vulnerability, meaning it targets a previously unknown security flaw that the company cannot yet patch. The tech giant said it's working on a fix but provided no timeline for when affected organizations might be secure. It marks the second major Microsoft hack targeting government agencies, following a 2023 attack attributed to Chinese hackers.

• President Trump marked six months in office on Sunday, claiming on Truth Social that America is now the "most respected country in the world." The White House highlighted achievements, including the Big, Beautiful Bill legislation and credited Trump with brokering three ceasefire deals and multiple trade agreements. However, the President faces pressure over stalled Ukraine peace talks, ongoing Gaza violence, and the Justice Department's refusal to release subpoenaed Epstein documents. A CBS poll released Sunday shows Trump holds a 42% approval rating.

• A far-right party in Japan has gained significant support in the country's upper house election. The Sanseitō Party has secured 14 seats, up from one, after it campaigned on nationalism, tax cuts, and a strong anti-immigration stance. The ultra-conservative party first launched on YouTube during the COVID-19 pandemic, where its vaccine conspiracy theories gained attention. More recently, Sanseitō has surged in popularity with its Trump-like “Japanese First” messaging. Meanwhile, Japan’s ruling coalition has failed to retain its majority in the upper house, winning only 47 of the 50 seats needed. Prime Minister Shigeru Ishiba has ruled out resigning, despite growing calls for him to step down.

• Tech company CEO Andy Byron resigned Saturday after a viral video showed him with a woman at a Coldplay concert, sparking controversy. The clip from Wednesday's show at Gillette Stadium in Massachusetts captured Byron and the woman embracing before they noticed themselves on the big screen and quickly moved away from the camera. Astronomer, Byron's former company, said in a LinkedIn statement that "recently, that standard was not met" regarding leadership conduct expectations. The company had placed Byron on leave and launched a board investigation before his resignation.

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President Trump signed the Genius Act into law on Friday, creating the first federal regulatory framework for 'stablecoins' — a type of digital currency designed to maintain stable value. The legislation could make stablecoins a more mainstream payment option, marking a significant step toward Trump's goal of making the U.S. the "crypto capital of the planet." Here's what you need to know.

What are stablecoins?

Stablecoins are digital currencies that are pegged to real-world assets, such as the U.S. dollar. Unlike regular cryptocurrencies such as Bitcoin, which can fluctuate wildly in value, stablecoins aim to maintain steady prices by keeping reserves of traditional assets.

For every stablecoin issued, companies are supposed to hold one dollar (or equivalent asset) in reserve. This backing is designed to prevent the dramatic price swings that make other cryptocurrencies risky investments.

The new law

The Genius Act establishes federal oversight for stablecoin companies. Under the law, stablecoin issuers must demonstrate that they're maintaining proper reserves and be transparent about how customer funds are held.

The legislation also includes anti-money laundering provisions designed to prevent criminals from using stablecoins to hide illegal transactions. "This gives consumers confidence that their digital dollars are actually backed by real dollars," Treasury Secretary nominee said during Senate hearings.

Why it matters

The signing caps what Republicans called "crypto week," during which Congress advanced multiple cryptocurrency bills. The Genius Act garnered bipartisan support, with some Democrats arguing that imperfect regulation was preferable to no regulation at all.

"We need guardrails around these financial products before they become too big to regulate," said Democratic Senator Elizabeth Warren, who voted for the bill despite previous crypto skepticism.

However, critics warn that the law legitimizes stablecoins without providing bank-level oversight. "We're treating these companies like banks but not requiring them to follow banking rules," said financial regulation expert Sarah Chen.

Why it matters

Two other crypto bills remain in Congress. The House advanced the Clarity Act to the Senate on Friday, which would grant the Commodity Futures Trading Commission greater authority to regulate cryptocurrency markets.

Congress is also debating the Anti-CBDC Surveillance State Act, which would prevent the Federal Reserve from creating a central bank digital currency that could compete with private stablecoins.

The legislation marks a significant shift in U.S. crypto policy, following years of regulatory uncertainty.

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At least 85 Palestinians have been killed by Israeli troops while trying to access aid in Gaza, marking the deadliest day for aid-seekers since the war began. The incident highlights the growing humanitarian crisis as UN officials warn that one million people face emergency levels of food insecurity. Here's what you need to know.

What happened?

The United Nations-run World Food Program (WFP) said a convoy of trucks was trying to deliver aid to Palestinians “desperately” in need of food supplies in northern Gaza.

After crossing a final border checkpoint on Sunday morning (local time), the organisation said the 25-truck convoy “encountered large crowds of civilians”.

“As the convoy approached, the surrounding crowd came under fire from Israeli tanks, snipers and other gunfire,” resulting in the loss of “countless lives,” the WFP said.

Deaths reported

Gaza's Hamas-run Health Ministry reported 85 deaths total - 79 in the northern incident and six more near Rafah. However, Israeli officials questioned these numbers. "An initial review suggests that the number of casualties reported does not align with the information held by the IDF," Israel's Foreign Ministry said.

The WFP called any violence involving civilians seeking humanitarian aid “completely unacceptable.”

“There should never, ever, be armed groups near or on our aid convoy.”

Israel’s response

Israeli Defense Forces said troops "fired warning shots" to "remove an immediate threat" from the crowds.

It said “the details of the incident are still being examined,” but that “an initial review suggests that the number of casualties reported does not align with the information held by the IDF.”

The IDF rejects suggestions it intentionally targets humanitarian aid trucks.

Humanitarian crisis

The incident violates Israeli assurances that "humanitarian operational conditions would improve," the WFP said. The UN warns that one million people in Gaza now face emergency food insecurity as the war continues into its fifth month.

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