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Today’s Menu

• Midjourney undercuts video AI market with affordable V1 model

• Trump demands immediate House action on historic GENIUS stablecoin legislation

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TODAY IN AI

Midjourney undercuts video AI market with affordable V1 model

Midjourney has launched its first AI video generation model, V1, offering a significantly more affordable entry point into video creation at just $10 per month. The model transforms any image into four five-second video clips, with capabilities to extend content up to 21 seconds and control camera movement and animation styles.

The pricing strategy appears deliberately disruptive, undercutting competitors in the video generation space by substantial margins. According to Wharton professor Ethan Mollick, the model can produce video styles that are difficult or impossible to achieve with other video creation tools, suggesting Midjourney isn't just competing on price but also unique capabilities.

This launch represents Midjourney's expansion beyond static image generation into the rapidly growing video AI market. The company's approach emphasizes accessibility and affordability, potentially democratizing video creation tools that have historically required significant financial investment or technical expertise.

The technical capabilities, while more limited than some premium offerings, address core user needs for content creation, marketing, and creative projects. The ability to extend clips to 21 seconds provides sufficient duration for many social media and promotional applications.

The strategic significance extends beyond Midjourney's business expansion. By offering dramatically lower pricing, the company forces competitors to justify their premium pricing or risk losing market share to a more accessible alternative. This pressure could accelerate price compression across the entire video AI market.

For content creators and businesses, Midjourney's V1 represents an inflection point where professional-quality video generation becomes accessible to smaller budgets. The impact on traditional video production workflows could be substantial, particularly for organizations creating large volumes of social media content or marketing materials.

TODAY IN CRYPTO

Trump demands immediate House action on historic GENIUS stablecoin legislation

President Trump has intensified pressure on the House of Representatives to rapidly pass the GENIUS Act, calling for immediate action on the landmark stablecoin legislation that cleared the Senate just one day earlier. In a direct statement, Trump urged: "The Senate just passed an incredible Bill... Get it to my desk, ASAP — NO DELAYS, NO ADD ONS."

The President positioned the legislation as crucial for making "America the UNDISPUTED Leader in Digital Assets," framing it as both an economic opportunity and a matter of national competitiveness. Senate Republicans are pushing for a July 4 vote to fast-track the bill to the Oval Office, demonstrating unusual bipartisan urgency around cryptocurrency regulation.

However, House passage faces potential complications. Some House Republicans want to bundle the GENIUS Act with other legislation like the STABLE Act, while critics including Elizabeth Warren warn the bill could directly benefit Trump's personal stablecoin venture, USD1, launched through World Liberty Financial. Trump has disclosed $57 million in gains from that venture, raising legitimate conflict of interest concerns.

Despite these controversies, the bill establishes comprehensive regulatory framework for stablecoins with strict requirements including full 1:1 backing with cash or Treasuries, mandatory audits, capital and AML compliance, bankruptcy protection for user funds, and restrictions on tech giants unless they meet specific criteria.

Trump's framing emphasizes economic benefits: boosting U.S. innovation, attracting massive investment, and extending dollar dominance globally. This positioning could appeal to legislators focused on maintaining America's financial leadership amid growing international competition in digital assets.

The legislation represents the first major crypto bill to clear the U.S. Senate, marking a historic shift from regulatory uncertainty toward comprehensive framework. If passed, it would provide the clarity that stablecoin issuers and the broader crypto industry have sought for years.

Strategic implications: Trump's public pressure creates political momentum that could override typical legislative delays. The combination of presidential support, Senate passage, and economic nationalism framing may prove sufficient to secure House approval despite legitimate concerns about conflicts of interest. For the crypto industry, rapid passage would represent unprecedented regulatory validation and potential catalyst for institutional adoption.

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Until next time,

Damon James