> JUST IN: ZCASH CRASHES 48% AFTER CLAUDE AI FINDS CRITICAL VULNERABILITY ALLOWING UNLIMITED MINTING OF $ZEC.
IT WENT UNNOTICED FOR 4 YEARS UNTIL IT WAS PATCHED ON JUNE 1ST.
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IT WENT UNNOTICED FOR 4 YEARS UNTIL IT WAS PATCHED ON JUNE 1ST.
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> ON JUNE 4 (ET), SPOT ETHEREUM ETFS RECORDED A TOTAL NET INFLOW OF $19.3019 MILLION, MARKING THEIR FIRST NET INFLOW AFTER 17 CONSECUTIVE DAYS OF OUTFLOWS. SPOT BITCOIN ETFS RECORDED A TOTAL NET INFLOW OF $3.0468 MILLION, MARKING THEIR FIRST NET INFLOW AFTER 13 CONSECUTIVE DAYS OF OUTFLOWS. SPOT HYPE ETFS SAW A TOTAL NET INFLOW OF $12.1494 MILLION, WHILE SPOT SOL ETFS SAW A TOTAL NET OUTFLOW OF $278,500. SPOT XRP ETFS RECORDED A TOTAL NET INFLOW OF $3.8344 MILLION. — LINK
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> CRYPTO LIQUIDATIONS HIT $1.22B IN 24H, WITH $944M IN LONGS AND $273M IN SHORTS LIQUIDATED ACROSS 255K TRADERS
$BTC -$368M
$ETH -$295M
$ZEC -$108M
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$BTC -$368M
$ETH -$295M
$ZEC -$108M
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> THE CRYPTO POWERED GRAY-MARKET PEPTIDE VENDORS HAVE CROSSED A $100M ANNUAL RUN RATE, DRIVEN BY GLP-1 AND LOOKSMAXXING DEMAND WITH $BTC AND STABLECOINS USED AS PAYMENT RAILS
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> GRAYSCALE HEAD OF RESEARCH: PRESSURE ON STRATEGY’S LEVERAGED MODEL IS FUELING BITCOIN VOLATILITY
GRAYSCALE HEAD OF RESEARCH ZACH PANDL SAID STRATEGY’S SALE OF 32 BTC HAS INTENSIFIED CONCERNS OVER ITS LEVERAGED ACCUMULATION MODEL. HE ARGUED THAT WEAKER PREFERRED-SHARE PRICES COULD INCREASE DIVIDEND OBLIGATIONS AND POTENTIALLY LEAD TO FURTHER BITCOIN SALES.
GRAYSCALE BELIEVES STRATEGY’S ABILITY TO KEEP ACCUMULATING BTC IS BECOMING MORE CONSTRAINED, ADDING VOLATILITY TO THE BROADER MARKET. ADDITIONAL BUYERS MAY BE NEEDED FOR BITCOIN TO ESTABLISH A SUSTAINABLE BOTTOM. — LINK
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GRAYSCALE HEAD OF RESEARCH ZACH PANDL SAID STRATEGY’S SALE OF 32 BTC HAS INTENSIFIED CONCERNS OVER ITS LEVERAGED ACCUMULATION MODEL. HE ARGUED THAT WEAKER PREFERRED-SHARE PRICES COULD INCREASE DIVIDEND OBLIGATIONS AND POTENTIALLY LEAD TO FURTHER BITCOIN SALES.
GRAYSCALE BELIEVES STRATEGY’S ABILITY TO KEEP ACCUMULATING BTC IS BECOMING MORE CONSTRAINED, ADDING VOLATILITY TO THE BROADER MARKET. ADDITIONAL BUYERS MAY BE NEEDED FOR BITCOIN TO ESTABLISH A SUSTAINABLE BOTTOM. — LINK
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> BITCOIN MINER-TURNED AI FIRM HUT 8 PRICES $4.25B NOTES TO FUND TEXAS DATA CENTER
HUT 8 ANNOUNCED THAT ITS SUBSIDIARY BEACON POINT DC LLC HAS PRICED $4.25 BILLION OF SENIOR SECURED NOTES DUE 2042 WITH A 6.129% COUPON. PROCEEDS WILL FUND THE BEACON POINT AI DATA CENTER PROJECT IN TEXAS, WHICH IS PLANNED TO PROVIDE 352 MW OF IT CAPACITY. THE COMPANY SAID THE FINANCING IS NON-RECOURSE TO HUT 8 AND STRUCTURED AT THE PROJECT LEVEL. — LINK
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HUT 8 ANNOUNCED THAT ITS SUBSIDIARY BEACON POINT DC LLC HAS PRICED $4.25 BILLION OF SENIOR SECURED NOTES DUE 2042 WITH A 6.129% COUPON. PROCEEDS WILL FUND THE BEACON POINT AI DATA CENTER PROJECT IN TEXAS, WHICH IS PLANNED TO PROVIDE 352 MW OF IT CAPACITY. THE COMPANY SAID THE FINANCING IS NON-RECOURSE TO HUT 8 AND STRUCTURED AT THE PROJECT LEVEL. — LINK
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> MARKETS AT THEIR FROTHIEST SINCE 2008
CITI WARNS GLOBAL STOCKS ARE AT THEIR FROTHIEST LEVEL SINCE THE 2008 FINANCIAL CRISIS, WITH ITS BEAR MARKET CHECKLIST REACHING 10/18 RISK FLAGS GLOBALLY. RISING VALUATIONS, BULLISH SENTIMENT, AI-DRIVEN SPENDING, AND INCREASED IPO ACTIVITY ARE FUELING CONCERNS. WHILE CITI REMAINS POSITIVE ON EQUITIES THROUGH YEAR-END, IT CAUTIONS THAT IF RISK SIGNALS CONTINUE TO RISE, BUYING MARKET DIPS MAY BECOME INCREASINGLY RISKY.
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CITI WARNS GLOBAL STOCKS ARE AT THEIR FROTHIEST LEVEL SINCE THE 2008 FINANCIAL CRISIS, WITH ITS BEAR MARKET CHECKLIST REACHING 10/18 RISK FLAGS GLOBALLY. RISING VALUATIONS, BULLISH SENTIMENT, AI-DRIVEN SPENDING, AND INCREASED IPO ACTIVITY ARE FUELING CONCERNS. WHILE CITI REMAINS POSITIVE ON EQUITIES THROUGH YEAR-END, IT CAUTIONS THAT IF RISK SIGNALS CONTINUE TO RISE, BUYING MARKET DIPS MAY BECOME INCREASINGLY RISKY.
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> $TSLA - TESLA'S FUTURE IS ROBOTICS, NOT CARS
J.P. MORGAN UPGRADED TESLA TO “NEUTRAL” FROM “UNDERWEIGHT,” SAYING THE STOCK’S VALUE IS INCREASINGLY TIED TO AUTONOMOUS DRIVING, ROBOTICS, AI, AND SOFTWARE RATHER THAN NEAR-TERM EV EARNINGS. THE BANK RAISED ITS PRICE TARGET TO $475 FROM $145, CITING TESLA’S STRONG HARDWARE-SOFTWARE INTEGRATION AND LONG-TERM GROWTH POTENTIAL. HOWEVER, IT WARNED THAT REGULATORY, SAFETY, AND EXECUTION RISKS REMAIN SIGNIFICANT.
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J.P. MORGAN UPGRADED TESLA TO “NEUTRAL” FROM “UNDERWEIGHT,” SAYING THE STOCK’S VALUE IS INCREASINGLY TIED TO AUTONOMOUS DRIVING, ROBOTICS, AI, AND SOFTWARE RATHER THAN NEAR-TERM EV EARNINGS. THE BANK RAISED ITS PRICE TARGET TO $475 FROM $145, CITING TESLA’S STRONG HARDWARE-SOFTWARE INTEGRATION AND LONG-TERM GROWTH POTENTIAL. HOWEVER, IT WARNED THAT REGULATORY, SAFETY, AND EXECUTION RISKS REMAIN SIGNIFICANT.
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> $LLY - GLP-1 MARKET TO HIT $150 BILLION BY 2030
TD COWEN RAISED ITS GLOBAL GLP-1 SALES FORECAST TO $150 BILLION BY 2030, UP FROM $139 BILLION, DRIVEN BY STRONGER DEMAND FOR DIABETES AND OBESITY TREATMENTS. THE FIRM NOW EXPECTS 59 MILLION PATIENTS ON GLP-1 THERAPIES BY 2030. ORAL WEIGHT-LOSS DRUGS ARE PROJECTED TO CAPTURE 14% OF SALES, WHILE ELI LILLY AND NOVO NORDISK ARE EXPECTED TO REMAIN DOMINANT WITH MARKET SHARES OF 62% AND 31%, RESPECTIVELY.
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TD COWEN RAISED ITS GLOBAL GLP-1 SALES FORECAST TO $150 BILLION BY 2030, UP FROM $139 BILLION, DRIVEN BY STRONGER DEMAND FOR DIABETES AND OBESITY TREATMENTS. THE FIRM NOW EXPECTS 59 MILLION PATIENTS ON GLP-1 THERAPIES BY 2030. ORAL WEIGHT-LOSS DRUGS ARE PROJECTED TO CAPTURE 14% OF SALES, WHILE ELI LILLY AND NOVO NORDISK ARE EXPECTED TO REMAIN DOMINANT WITH MARKET SHARES OF 62% AND 31%, RESPECTIVELY.
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> MICHAEL SAYLOR BREAKS BITCOIN COMMUNITY INTO FOUR CAMPS, WARNS AGAINST EXTREMES
STRATEGY CHAIRMAN MICHAEL SAYLOR PUBLISHED A FRAMEWORK DESCRIBING FOUR MAJOR BITCOIN IDEOLOGIES: MAXIMALISTS, WHO VIEW BITCOIN AS THE DOMINANT MONETARY NETWORK; CAPITALISTS, WHO FOCUS ON INTEGRATING BITCOIN INTO GLOBAL FINANCE; TECHNOLOGISTS, WHO ADVOCATE PROTOCOL IMPROVEMENTS; AND FUNDAMENTALISTS, WHO PRIORITIZE SELF-CUSTODY, DECENTRALIZATION AND IMMUTABILITY.
SAYLOR ARGUED BITCOIN’S FUTURE DEPENDS ON BALANCING CONVICTION, ADOPTION, INNOVATION AND PRESERVATION, CALLING FOR “DISCIPLINED EXPANSION” WHILE KEEPING THE BASE LAYER LARGELY UNCHANGED. — LINK
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STRATEGY CHAIRMAN MICHAEL SAYLOR PUBLISHED A FRAMEWORK DESCRIBING FOUR MAJOR BITCOIN IDEOLOGIES: MAXIMALISTS, WHO VIEW BITCOIN AS THE DOMINANT MONETARY NETWORK; CAPITALISTS, WHO FOCUS ON INTEGRATING BITCOIN INTO GLOBAL FINANCE; TECHNOLOGISTS, WHO ADVOCATE PROTOCOL IMPROVEMENTS; AND FUNDAMENTALISTS, WHO PRIORITIZE SELF-CUSTODY, DECENTRALIZATION AND IMMUTABILITY.
SAYLOR ARGUED BITCOIN’S FUTURE DEPENDS ON BALANCING CONVICTION, ADOPTION, INNOVATION AND PRESERVATION, CALLING FOR “DISCIPLINED EXPANSION” WHILE KEEPING THE BASE LAYER LARGELY UNCHANGED. — LINK
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> POLITICO: POLYMARKET CMO SENT $2.5M THROUGH PERSONAL PAYPAL, $350K LINKED TO INFLUENCER PROMOTIONS
A POLITICO INVESTIGATION FOUND THAT POLYMARKET CMO MATTHEW MODABBER SENT OVER $2.5 MILLION TO MORE THAN 800 RECIPIENTS THROUGH A PERSONAL PAYPAL ACCOUNT BETWEEN JANUARY 2025 AND FEBRUARY 2026. AT LEAST $350,000 WENT TO CONTENT CREATORS, WITH 20 INFLUENCERS POSTING ABOUT POLYMARKET MORE THAN 490 TIMES ON X WITHOUT CLEAR SPONSORSHIP DISCLOSURES.
POLYMARKET SAID INFLUENCER PARTNERSHIPS ARE STANDARD BUSINESS PRACTICE, BUT DID NOT ADDRESS QUESTIONS ABOUT DISCLOSURE POLICIES, PERSONAL-ACCOUNT PAYMENTS, OR TAX REPORTING. — LINK
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A POLITICO INVESTIGATION FOUND THAT POLYMARKET CMO MATTHEW MODABBER SENT OVER $2.5 MILLION TO MORE THAN 800 RECIPIENTS THROUGH A PERSONAL PAYPAL ACCOUNT BETWEEN JANUARY 2025 AND FEBRUARY 2026. AT LEAST $350,000 WENT TO CONTENT CREATORS, WITH 20 INFLUENCERS POSTING ABOUT POLYMARKET MORE THAN 490 TIMES ON X WITHOUT CLEAR SPONSORSHIP DISCLOSURES.
POLYMARKET SAID INFLUENCER PARTNERSHIPS ARE STANDARD BUSINESS PRACTICE, BUT DID NOT ADDRESS QUESTIONS ABOUT DISCLOSURE POLICIES, PERSONAL-ACCOUNT PAYMENTS, OR TAX REPORTING. — LINK
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> $TSLA - MORGAN STANLEY ANALYSTS SEE SPACEX REVENUE REACHING $3.4T IN 2040, SOURCES SAY
MORGAN STANLEY PROJECTS SPACEX'S ADJUSTED EBITDA TOPS $2.7T IN 2040, SOURCES SAY
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MORGAN STANLEY PROJECTS SPACEX'S ADJUSTED EBITDA TOPS $2.7T IN 2040, SOURCES SAY
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> SPACEX BETS ON TRILLION-DOLLAR AI FUTURE
MORGAN STANLEY PROJECTS SPACEX REVENUE COULD SOAR TO $3.4 TRILLION BY 2040, HELPING JUSTIFY ITS TARGETED $1.77 TRILLION IPO VALUATION. THE FORECAST IS DRIVEN LARGELY BY EXPLOSIVE GROWTH IN THE COMPANY’S AI BUSINESS, WITH REVENUE EXPECTED TO RISE SHARPLY FROM CURRENT LEVELS. SPACEX GENERATED $18.7 BILLION IN REVENUE IN 2025 AND PLANS TO RAISE ABOUT $75 BILLION IN WHAT COULD BECOME THE LARGEST IPO EVER.
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MORGAN STANLEY PROJECTS SPACEX REVENUE COULD SOAR TO $3.4 TRILLION BY 2040, HELPING JUSTIFY ITS TARGETED $1.77 TRILLION IPO VALUATION. THE FORECAST IS DRIVEN LARGELY BY EXPLOSIVE GROWTH IN THE COMPANY’S AI BUSINESS, WITH REVENUE EXPECTED TO RISE SHARPLY FROM CURRENT LEVELS. SPACEX GENERATED $18.7 BILLION IN REVENUE IN 2025 AND PLANS TO RAISE ABOUT $75 BILLION IN WHAT COULD BECOME THE LARGEST IPO EVER.
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> SPACEX IPO EXCLUDES CHINA AND HONG KONG CAPITAL
SPACEX IS BLOCKING INVESTORS FROM CHINA AND HONG KONG FROM ITS $75B IPO, INSTRUCTING UNDERWRITERS TO REJECT RELATED ORDERS, ACCORDING TO BLOOMBERG. ACCESS FROM PARTS OF HONG KONG AND SHANGHAI WAS ALSO REPORTEDLY RESTRICTED. THE MOVE IS LINKED TO US ITAR RULES COVERING DEFENSE TECHNOLOGY EXPORTS. THE DECISION REFLECTS RISING US TECH-SECTOR CAUTION OVER CHINESE CAPITAL DUE TO NATIONAL SECURITY AND DATA CONCERNS.
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SPACEX IS BLOCKING INVESTORS FROM CHINA AND HONG KONG FROM ITS $75B IPO, INSTRUCTING UNDERWRITERS TO REJECT RELATED ORDERS, ACCORDING TO BLOOMBERG. ACCESS FROM PARTS OF HONG KONG AND SHANGHAI WAS ALSO REPORTEDLY RESTRICTED. THE MOVE IS LINKED TO US ITAR RULES COVERING DEFENSE TECHNOLOGY EXPORTS. THE DECISION REFLECTS RISING US TECH-SECTOR CAUTION OVER CHINESE CAPITAL DUE TO NATIONAL SECURITY AND DATA CONCERNS.
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> FED POLICY RISKS AI-FUELED STOCK BUBBLE, BCA WARNS
BCA RESEARCH WARNS FEDERAL RESERVE RISKS INFLATING A STOCK BUBBLE BY UNDERESTIMATING AI-DRIVEN INFLATION AND KEEPING RATES TOO LOW. PETER BEREZIN SAYS AI IS PUSHING UP COSTS SUCH AS ELECTRICITY AND MEMORY CHIPS, WHILE RISING EQUITIES FUEL SPENDING. LONG TERM EFFECTS ARE UNCERTAIN BUT MAY LIFT REAL RATES. STOCKS ARE OVERBOUGHT, NOT BEAR-MARKET LEVEL, WITH RISKS FROM AI CAPEX BUST OR INEQUALITY SURGE.
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BCA RESEARCH WARNS FEDERAL RESERVE RISKS INFLATING A STOCK BUBBLE BY UNDERESTIMATING AI-DRIVEN INFLATION AND KEEPING RATES TOO LOW. PETER BEREZIN SAYS AI IS PUSHING UP COSTS SUCH AS ELECTRICITY AND MEMORY CHIPS, WHILE RISING EQUITIES FUEL SPENDING. LONG TERM EFFECTS ARE UNCERTAIN BUT MAY LIFT REAL RATES. STOCKS ARE OVERBOUGHT, NOT BEAR-MARKET LEVEL, WITH RISKS FROM AI CAPEX BUST OR INEQUALITY SURGE.
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> CRYPTO MARKET EXTENDS SELL-OFF AMID GLOBAL UNCERTAINTY
CRYPTOCURRENCIES ARE UNDER SUSTAINED SELLING PRESSURE, HEADING FOR A SIXTH STRAIGHT DAY OF LOSSES. SENTIMENT IS HURT BY MIDDLE EAST TENSIONS, EXPECTATIONS OF HIGHER U.S. RATES, ETF OUTFLOWS, AND STRATEGY’S REPORTED BITCOIN SALES FOR THE FIRST TIME SINCE 2022. BITCOIN FALLS 2% TO $62,292, ETHER DROPS 5.8% TO $1,669, AND SOLANA DECLINES 4.1% TO $66.20, ALL NEAR MULTI-MONTH OR MULTI-YEAR LOWS.
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CRYPTOCURRENCIES ARE UNDER SUSTAINED SELLING PRESSURE, HEADING FOR A SIXTH STRAIGHT DAY OF LOSSES. SENTIMENT IS HURT BY MIDDLE EAST TENSIONS, EXPECTATIONS OF HIGHER U.S. RATES, ETF OUTFLOWS, AND STRATEGY’S REPORTED BITCOIN SALES FOR THE FIRST TIME SINCE 2022. BITCOIN FALLS 2% TO $62,292, ETHER DROPS 5.8% TO $1,669, AND SOLANA DECLINES 4.1% TO $66.20, ALL NEAR MULTI-MONTH OR MULTI-YEAR LOWS.
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> IRAN'S NAVY SAYS IT FIRED WARNING SHOTS AT U.S. DESTROYERS IN GULF OF OMAN - STATE MEDIA
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> BLOOMBERG: SPACEX’S $75 BILLION IPO BARS INVESTORS IN MAINLAND CHINA AND HONG KONG
ACCORDING TO BLOOMBERG, UNDERWRITERS FOR SPACEX’S $75 BILLION IPO HAVE BEEN INSTRUCTED NOT TO ACCEPT SUBSCRIPTION ORDERS FROM INVESTORS IN MAINLAND CHINA AND HONG KONG, INCLUDING PRIVATE BANKING CLIENTS, DUE TO REGULATORY AND COMPLIANCE RISKS RELATED TO U.S. RESTRICTIONS ON CRITICAL TECHNOLOGY EXPORTS. THE RESTRICTIONS WERE REPORTEDLY COMMUNICATED TO BANKS PARTICIPATING IN THE UNDERWRITING SYNDICATE. — LINK
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ACCORDING TO BLOOMBERG, UNDERWRITERS FOR SPACEX’S $75 BILLION IPO HAVE BEEN INSTRUCTED NOT TO ACCEPT SUBSCRIPTION ORDERS FROM INVESTORS IN MAINLAND CHINA AND HONG KONG, INCLUDING PRIVATE BANKING CLIENTS, DUE TO REGULATORY AND COMPLIANCE RISKS RELATED TO U.S. RESTRICTIONS ON CRITICAL TECHNOLOGY EXPORTS. THE RESTRICTIONS WERE REPORTEDLY COMMUNICATED TO BANKS PARTICIPATING IN THE UNDERWRITING SYNDICATE. — LINK
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