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Happy Wednesday!

So, the White House is making AI rules. Talk about 'Artificial Inelegance' - hoping their autocorrect doesn't turn 'policy' into 'polka'!

In today’s Morning Mashup:

Read time: 3 minutes

🏛 AI: The White House Takes Charge

There is chatter around the White House, and it's all about AI. Big changes are coming as the White House gears up to take "decisive actions" to stay ahead of the fast-paced world of artificial intelligence.

It's not just talk.

They have been in the trenches, with meetings happening up to three times a week, planning, strategizing, and even securing commitments from leading AI companies. This collaborative effort is all about tackling the challenges AI presents head-on, both in government circles and the private sector.

It's not just about keeping up with the tech. It's about shaping how we live with it. President Biden has been working to regulate the tech, hosting top AI CEOs at the White House and even rolling out a blueprint for an AI Bill of Rights. 

They're crafting policy guidance to make sure our rights and safety stay front and center as AI systems are developed, procured, and used.

It's about our lives, our rights, and how we navigate the future.

🌐 EDX Markets: A Crypto Game-Changer

Citadel, Fidelity, Charles Schwab, Sequoia Capital, Virtu Financial, and Paradigm are shaking things up with their latest venture, EDX Markets, a brand-new cryptocurrency exchange.

This could be a power move! This isn't just a fun experiment for these industry giants; they're throwing their hats into the ring with full force.

Here's where it gets really interesting. EDX Markets is setting itself apart by following a non-custodial model (they act as a marketplace where they don't directly handle customer assets).

Instead, participating firms use EDX's services to set trade prices. They're the middleman, facilitating transactions between parties and providing a unique setup for trade execution. They're promising their customers enhanced liquidity and competitive quotes, all while addressing any potential conflicts of interest.

That's a big deal.

Looking ahead, EDX has some exciting plans on the horizon, like the launch of EDC Clearing later this year. This will let traders settle trades matched on EDC Markets, and right now, they're supporting trading in Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

EDX's CEO, Jamil Nazarali, has said that despite some headwinds in the sector, the platform's ability to attract new investors and partners shows their strength and the demand for a safe, compliant crypto market.

It's clear that EDX is poised to make waves if done correctly.

📈 Chilling the Summer Stock Surge

Summer's here and the stock market seems to be heating up alongside the weather.

We've all noticed the S&P 500 crossing back into bull market territory after a 23% rise from its October lows. You'd think we were all set for a sizzling summer of stock success, right?

Well, not so fast…

Some seasoned market pros are advising us to pump the brakes and cool our expectations.

Now, you might be wondering why.

Jim Stack from InvesTech Research points out that this bull market is an unusual one. Usually, in a new bull market, smaller market cap stocks lead the charge with the biggest gains. But this time around, it's different. Plus, the top 10 stocks in the S&P 500 - the big guns like Apple, Tesla, and Amazon - are shouldering 81% of this year's gain. It's like a tug of war where one side is doing most of the heavy lifting - not the healthiest scenario, according to Stack.

And it's not just Stack. Others like Jeff Hirsh and David Keller are also sending similar signals. Hirsh reminds us that the 'summer rally' is more myth than reality. He suggests that we should consider enjoying the summer sun instead of expecting the stock market to do the same. Keller echoes this sentiment, observing that June's strong start is unusual and that the S&P 500 seems to be overbought. So, while we're all eager for growth, it's crucial to remember that the best offense is still a good defense.

Enjoy the sunshine and touch some grass today (weather permitting).

🧰 Productivity Arsenal

• Decoherence - Creates videos that can’t be filmed (Link)

• Artify - AI-powered art platform (Link)

• Learn Prompting - Free open Source Course that educates how to communicate with AI (Link)

• Narrative BI - Turn your data into insights for marketing (Link)

• Munch - Create clips from your long-form videos (Link) *

Have cool resources to share? Submit a tool by replying to this email.

* This is sponsored content

🐦 Tweet of the day

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That’s all for now!

If you have any interesting projects or ideas please reach out to us by responding to this email or by sending us a DM on Twitter: @DerikVasquez & @MorningMillionaire

As always, thank you for your time, and see you soon.