Today's top news highlights:

Bitcoin spot ETFs saw a net inflow of $85.8498 million yesterday, with none of the twelve ETFs experiencing net outflows.

Due to the 180-day lock-up period, SpaceX equity tokens on the PreStocks platform are trading at a 26.6% discount.

The personalization and intelligent technology industry raised 8.6 billion yuan in funding in May, a year-on-year increase of 145%, but a month-on-month decrease of 58%.

Iranian Foreign Minister: Memorandum of Understanding between Iran and the US may be signed within days.

Galaxy Digital: Bitcoin's cyclical lows may be higher than previous ones, with a potential bottom of $62,000 to $53,600.

Pudgy Penguins' Web3 game Pudgy Party has announced the cessation of development.

Anthropic suspends foreign citizen access to Claude Fable 5 and Mythos 5

Standard Chartered Bank analyst: The crypto market has hit the bottom of the cycle, and Bitcoin is expected to return to $100,000 by the end of the year.

SPCX IPO subscription results across platforms: Kraken averaged $600 per person in subscriptions; Binance, Bitget, and Bybit refunded subscriptions.

Bloomberg ETF analysts: SpaceX (SPCX) saw $85 billion in trading volume on its first day of trading, breaking IPO records.

Regulation & Macro

Iranian Foreign Minister: Memorandum of Understanding between Iran and the US may be signed within days.

Iranian Foreign Minister Araqchi stated that after the final phase of negotiations between Iran and the United States is completed, the memorandum of understanding will be signed and published immediately, and the first phase may be signed remotely and electronically in the coming days.

The US invests $2 billion in quantum computing, and the quantum threat is rapidly approaching Bitcoin's encryption system.

The U.S. Department of Commerce plans to invest more than $2 billion in nine quantum computing companies to build quantum computer infrastructure capable of cracking cryptography such as Bitcoin. IBM will receive $1 billion and GlobalFoundries will receive $375 million.

Anthropic suspends foreign citizen access to Claude Fable 5 and Mythos 5

Anthropic has suspended all foreign nationals' access to Claude Fable 5 and Mythos 5, including foreign employees within the company, in accordance with U.S. export control orders.

Attorneys general from multiple U.S. states have launched a joint investigation into OpenAI.

Attorneys general from multiple U.S. states have launched a joint investigation into OpenAI, demanding documents related to its business activities and user impact. OpenAI already faces numerous lawsuits alleging that design flaws in ChatGPT led to user suicides or other adverse effects.

Zimbabwe requires crypto businesses to register and be subject to regulation, with an annual fee of $500.

Zimbabwe requires all crypto businesses to register annually with the Financial Intelligence Unit and pay an annual fee of $500; unregistered operation is illegal. Crypto usage has surged in the country due to hyperinflation and currency reforms.

The People's Bank of China announced that it will lower the minimum investment amount for individual investors to subscribe to large-denomination certificates of deposit to no less than 200,000 yuan.

The People's Bank of China has released the "Measures for the Administration of Large-Denomination Certificates of Deposit (Draft for Comments)," which lowers the minimum subscription amount for individuals to no less than 200,000 yuan and for institutions to no less than 10 million yuan. The terms range from one month to five years, with market-based interest rates, and the certificates are transferable and can be pledged.

Project Updates

Due to the 180-day lock-up period, SpaceX equity tokens on the PreStocks platform are trading at a 26.6% discount.

On Solana's PreStocks platform, a pre-IPO tokenized product, SpaceX equity tokens are currently trading at approximately $118.17, a 26.6% discount to the publicly traded SPCX share price. This discount is likely due to a 180-day lock-up period; the tokens cannot be exchanged for actual shares, and holders can only sell them at a discount or wait 180 days to redeem them.

Binance cancels SPCXx IPO and airdrops approximately $1 million worth of SPCXB tokens as compensation to participants.

Binance cancelled its SPCXx IPO due to unforeseen circumstances. Users who locked USDC will receive a full refund, and will also be compensated with an airdrop of approximately $1 million worth of SPCXB tokens. SPCXB is a tokenized security pegged 1:1 to SpaceX stock and will be listed on Binance spot trading later.

Pudgy Penguins' Web3 game Pudgy Party has announced the cessation of development.

Pudgy Penguins' Web3 game Pudgy Party has announced it is ceasing development, with the company shifting its focus to the browser-based free-to-play game Pudgy World. Pudgy Party was developed in collaboration with Mythical Games and featured fast-paced mini-games and digital collectibles.

SPCX IPO subscription results across platforms: Kraken averaged $600 per person in subscriptions; Binance, Bitget, and Bybit refunded subscriptions.

SPCX IPO subscription results on various CEX platforms: Kraken received an average of $600 per person; Gate allocated approximately 3% of the principal proportionally; Binance refunded and compensated with approximately $40 worth of tokens; Bitget refunded and compensated with a 10U transaction fee coupon; Bybit refunded and compensated with a 4-day 10% annualized return on deposits.

SpaceX shares rose 19% on first day of trading, pushing its market capitalization above $2 trillion and making it the sixth largest company in the United States.

SpaceX (SPCX.O) rose 19% on its first day of trading on Nasdaq, closing at approximately $161, pushing its market capitalization above $2 trillion and making it the sixth-largest company in the United States. Trading volume exceeded 500 million shares, with a turnover of approximately $80 billion.

Musk becomes the world's first trillionaire.

SpaceX shares surged at the open, making Musk the world's first trillionaire.

SpaceX (SPCX.O) opened at $150 on its first day of trading in the US stock market.

SpaceX (SPCX.O) opened at $150 on its first day of trading on the US stock market, with an offering price of $135 per share.

SpaceX (SPCX.O) opened with an indicative price of $172 on its first day of trading in the US stock market.

SpaceX (SPCX.O) opened with an indicative price of $172 on its first day of trading in the US stock market, with an offering price of $135. The official opening time is expected to be between 11:00 AM and 1:00 PM Eastern Time.

Bybit cancels its SpaceX subscription and issues a full refund due to its partner's inability to deliver the underlying assets.

Bybit cancelled its SpaceX subscription and issued a full refund due to its partner xStocks' inability to deliver the underlying assets. At the same time, it compensated participating users with an annualized return of 10% and a fixed reward of 4 days.

Gate completes SpaceX IPO share distribution and launches exclusive benefits for subscribers.

Gate has completed the distribution of SpaceX IPO shares, and unallocated funds have been returned. Exclusive benefits for subscribers include up to 200% annualized returns, holding airdrops, and a 50,000 USDT equivalent SPCX stock prize pool. Gate stock trading is now available on its web platform, supporting USDT trading of over 10,000 US stocks and ETFs.

SpaceX's indicative price continues to fall to $150.

SpaceX shares opened with an indicative price of $150, up about 11.1% from the IPO price of $135. The opening price had previously been expected to be between $170 and $175.

The initial transaction price for SpaceX's IPO may be delayed until midday Eastern Time.

SpaceX (SPCX) is expected to generate its first official trading price between 11:00 AM and 1:00 PM ET. The opening may be delayed if there is an imbalance between buy and sell orders or significant price fluctuations. The IPO price is $135, with off-exchange price indices around $170-$175.

Kraken employees deleted the post about quota reductions, and some users have already received SPCXx allocations.

Kraken employees deleted the post about quota reductions, and some users reported receiving approximately 0.7 SpaceX tokenized shares (SPCXx) in the Kraken App, which are currently showing as suspended.

Musk appeared at the bell-ringing ceremony: SpaceX's goal is to send humans to the moon, Mars, and ultimately to even more distant interstellar destinations.

At the SpaceX bell-ringing ceremony, Musk stated that the company's goal is to send humans to the moon, Mars, and beyond into space. He recalled that in the early days, he believed the company was doomed to fail, but investors remained optimistic.

SpaceX set its opening price range at $170 to $175.

SpaceX's opening price range is $170 to $175, with an IPO price of $135. Before official trading begins, traders will adjust the estimated price based on buy and sell orders.

SpaceX's off-exchange valuation has increased significantly.

SpaceX stock opened at $171 per share, up about 26.7% from its IPO price of $135.

Nasdaq: SpaceX IPO trading will begin at 10 PM Beijing time tonight.

Nasdaq announced that SpaceX's IPO will begin trading at 10:00 a.m. Eastern Time (22:00 Beijing Time).

Investment and financing news

ARK Fund bought over $444 million worth of SpaceX stock while significantly reducing its holdings in AMD.

On June 12, ARK Ark Fund bought 3,291,184 shares of SpaceX stock, totaling approximately $444 million; at the same time, it sold 80,536 shares of AMD, with a total transaction value of approximately $39.33 million.

The personalization and intelligent technology industry raised 8.6 billion yuan in funding in May, a year-on-year increase of 145%, but a month-on-month decrease of 58%.

In May 2026, the embodied intelligence industry saw 51 financing deals, totaling RMB 8.6 billion, representing a year-on-year increase of 145.5% but a month-on-month decrease of 58.65%. Capital is shifting from OEMs to core components, data infrastructure, and other underlying capabilities, with non-humanoid scenarios such as low-altitude and deep-sea applications also attracting attention.

Blockworks acquires encrypted data platform Messari for over $10 million.

Blockworks acquired encrypted data platform Messari for over $10 million. Messari was valued at approximately $300 million in 2022. Blockworks recently completed an extension of its funding round, valuing the company at approximately $192 million.

Opinions & Analysis

Galaxy Digital: Bitcoin's cyclical lows may be higher than previous ones, with a potential bottom of $62,000 to $53,600.

Galaxy Digital research suggests that Bitcoin's cyclical lows may be higher than previous lows, with a potential bottom between $62,000 and $53,600. The current cycle's top signal is weak, with the MVRV peak at only 2.29, lower than previous cycles. Bottom signals have not yet been fully triggered. Based on the current cost price of $53,600, the estimated bottom range is $40,000 to $46,000, with a more severe shakeout scenario resulting in $30,000 to $37,000, and a more gradual decline maintaining a range of $51,000 to $54,000.

Standard Chartered Bank analyst: The crypto market has hit the bottom of the cycle, and Bitcoin is expected to return to $100,000 by the end of the year.

Standard Chartered analyst Geoffrey Kendrick believes the crypto market has hit a cyclical bottom, with Bitcoin's low locked at $59,000 and a potential rebound to $100,000 by the end of the year, while Ethereum is expected to reach $4,000. Supporting factors for the rebound include: the recent sharp sell-off in Bitcoin spot ETFs, possibly due to investors liquidating their positions to participate in the SpaceX IPO, with selling pressure potentially ending after SpaceX's listing; and a potential US-Iran peace agreement, which would suppress oil prices and Treasury yields, easing macroeconomic pressures. Kendrick will monitor Strategy's increased holdings and ETF net inflows to confirm the bottom.

Important data

Bitcoin spot ETFs saw a net inflow of $85.8498 million yesterday, with none of the twelve ETFs experiencing net outflows.

Yesterday (June 12th, Eastern Time), Bitcoin spot ETFs saw a total net inflow of $85.8498 million. BlackRock ETF IBIT saw a net inflow of $57.6944 million, with a historical total net inflow of $62.114 billion; Fidelity ETF FBTC saw a net inflow of $18.0047 million, with a historical total net inflow of $10.448 billion. The total net asset value of Bitcoin spot ETFs is $79.65 billion, with a net asset value ratio of 6.26%, and a historical cumulative net inflow of $53.625 billion.

SpaceX has risen to 9th place in global asset value, while Bitcoin is currently ranked 17th.

According to 8MarketCap data, SpaceX ranks 9th in global asset market capitalization with a market capitalization of $2.104 trillion, while Bitcoin ranks 17th with a market capitalization of approximately $1.278 trillion.

Bloomberg ETF analysts: SpaceX (SPCX) saw $85 billion in trading volume on its first day of trading, breaking IPO records.

According to Bloomberg ETF analyst Eric Balchunas, SpaceX (SPCX) saw a trading volume of $85 billion on its first day of trading, breaking the record for IPO trading volume and ranking among the top ten highest-traded stocks in history, surpassing Apple's trading volume on any day in the past 40 years.

A certain whale traded ETH in eight rounds of long and short positions over two and a half days, making a profit of $3.67 million, a return of 122%.

A whale traded ETH long and short positions eight times in two and a half days, with a win rate of 87%, increasing its $3 million to $6.67 million, making a profit of $3.67 million, and achieving a return of 122%.

A HYPE genesis whale deposited approximately 576,000 tokens into Coinbase, and may have sold them for a profit exceeding $44.34 million.

A HYPE genesis whale deposited 576,148 HYPE tokens (worth $35.28 million) into Coinbase, and is expected to make a profit of over $44.34 million.

Wang Chun's linked wallet withdrew 15,740 ETH, approximately $26.4 million, from Binance.

A wallet associated with Wang Chun withdrew 15,740 ETH from Binance, equivalent to approximately $26.4 million.

Pump transferred another 67,000 SOL to Kraken, bringing its total cash-out since the beginning of 2024 to nearly $800 million.

The Solana ecosystem project Pump transferred 67,000 SOL tokens (approximately $4.51 million) to Kraken. Since the beginning of 2024, this address has sold approximately 4.61 million SOL tokens, generating transaction fees and realizing approximately $795 million, at an average price of approximately $172 per token.

Grayscale Avalanche Staking ETF will begin trading tomorrow.

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