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Fastest Breaking Markets Updates Crypto • Finance • Technology • War
Aave’s Stani Kulechov seeks $50m for Lens Protocol at $500m valuation: link
> Stani Kulechov is pitching Lens Protocol to US venture firms.
$ENA Tokenomics Update: link
> $ENA restaking pools within Symbiotic to secure the Ethena Chain.
> Generalized $ENA restaking is being introduced, initially to secure cross-chain $USDe transfers via LayerZero.
> The Ethena Chain will utilize $USDe as the gas token, with $ENA providing security across DEXs, lending, derivatives, and infrastructure solutions.
> From June 17th, users must lock 50% of newly vested $ENA or risk forfeiting unvested tokens to aligned users who do lock. ⚠️
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DeepSeek-Coder-V2: The First Open Source Model That Beats GPT4-Turbo, Claude3-Opus, Gemini-1.5 Pro, Codestral in Coding and Math: link
> 128K context length.
> Comes with two sizes: 230B (also with API access) and 16B.
> Available on Hugging Face.
—DeepSeek is funded by a top Chinese quant hedge fund called High-Flyer quant, which have delivered 13% annual returns since 2017 in the China's turbulent domestic stock markets: link
Tether Announces Launch of Alloy by Tether: A New Digital Asset Backed by Tether Gold: link
—Alloy by Tether introduces a novel category of digital assets known as 'tethered assets', designed to closely track real-world assets. Their first offering, aUSD₮, aims to mirror the US dollar's value by being over-collateralized with Tether's gold-backed XAU₮ token supported by real physical gold stored in Switzerland.
Spot ETH ETF S-1 forms are expected to approved by July 2nd: Bloomberg ETF Analyst Erich Balchunas
[ETH ETF issuers needs approval on the S-1 forms to begin trading]
Gary Gensler told Senator Bill Hagerty he envisions $ETH Spot ETF S-1’s will likely be approved by the *end of the summer.*: Eleanor Terrett
[Approval for ETFs to start Trading]
The distribution of the dots is much narrower than the previous one —7 vs 8, in line with the market forecast.
Fed's dot plot breakdown:
-4 saw no cuts
-7 saw 1 cut
-8 saw 2 cuts
Terraform Labs agreed to pay $4.47 billion to resolve a civil lawsuit filed by the SEC following the firm’s 2022 collapse.
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May CPI in 30 minutes:
Consensus:
—MoM: 0.1%
—YoY: 3.4%
—Core MoM: 0.3%
—Core YoY: 3.5%
OpenAI's ChatGPT-4o coming to Siri later this year
—Apple announce the expected partnership with OpenAI
—Apple to add support for other AI models
—'Apple intelligence': it's probably their custom on-device LLM, not GPT-4 level, but capable enough for most tasks. It runs securely on Apple hardware (+on private cloud).
—Apple will not be able to access data that goes to their Private cloud servers.
Roaring Kitty GME Position Update Live
Down $235M today
—U.S. Nonfarm payrolls 272K, Est. 180k, Prev. 175k
—U.S. Unemployment Rate 4%, Est. 3.9%. Prev. 3.9%
—Full-time workers: -625K
—Part-time workers: +286K
—272k gain was bigger than every last one of the 77 estimates in BBG’s survey.
—Traders are no longer pricing in a Fed rate cut before December.
Kraken Said To Be In Talks For Pre-IPO Fund Raising Round: BBG
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DOJ & FTC sues Adobe for hiding termination fees and making it difficult to cancel subscriptions.
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Coinbase announce pre-launch markets on Coinbase International Exchange and Coinbase Advanced to allow users to trade perpetual futures contracts on tokens that have not launched yet: link
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SEC'S HEAD OF CRYPTO ASSET AND CYBER UNIT LEAVES AGENCY AFTER NINE YEARS: TheBlock
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The Week Ahead:
Macro:
—BoE Interest Rate Decision on 20
—U.S. Initial Jobless Claims on 20
Crypto:
—Tether will unveil its new class of digital assets products on 17
—Ethena to provide more details on tokenomics, staking and pools on 17
—Layerzero [TGE?] announcement on 20
Unlocks:
—$ID: $39m [18%]
—$PIXEL: $17m [7%]
Changpeng Zhao aka CZ, Former CEO of Binance owns 94M $BNB tokens or 64% of the total 147.5M $BNB tokens in circulation according to Forbes.
*With $61B CZ is the 24th richest person in the world, next richest person in crypto is Coinbase founder Brian Armstrong at $11b.
*Binance owns 71% of the BNB supply — CZ has 90% equity stake in Binance.
MicroStrategy Announces Proposed Private Offering of $500 Million of Convertible Senior Notes: link
—MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoin.
—Also, MicroStrategy to Redeem $650M of 2025 Convertible Notes and Settle All Conversion Requests in Shares: link
—Fed Raise 2024 inflation Forecast to 2.6% from 2.4%.
—Fed dot plot shows just 1 rate cut in 2024 vs 3.
FOMC in 30 minutes:
—Fed is expected to leave interest rates unchanged.
—After today's CPI, Market now fully pricing in two rate cuts.
—Fed's Dot plot rate forecasts will be main event - will 2024 median projection of 3 cuts get trimmed to 1 or 2? Market expects 2 cuts down from 3.
—The distribution of dots will be more important than the cuts forecast for some.
—Market also focused on how dovish [hawkish?] Powell will be.
May CPI:
MoM: 0% [Est. 0.1%, Prev. 0.3%]
YoY: 3.3% [Est. 3.4%, Prev. 3.4%]
Core MoM: 0.2% [Est. 0.3%, Prev. 0.3%]
Core YoY: 3.4% [Est. 3.5%, Prev. 3.6%]
Zksync's One-Time Airdrop:
—Total supply: 21B
—17.5%: Airdrop
—17.2%: investors
—16.1%: Matter Labs team
—49.1%: ecosystem initiatives
—695k wallets are eligible for Airdrop.
—maximum 100k $zk/address
—minimum up to 917 $zk
—Snapshot: March 24, 2024
—Claim: June 24 to Jan 3, 2025
—Checker: https://claim.zknation.io
—blog: https://blog.zknation.io/zk-token
—docs: https://docs.zknation.io
Reportedly The most important event for Apple in over a decade 'Apple WWDC24' event has started: YouTube
—Sam Altman is attending the Event [OpenAI partnership]
—In an unusual move for a year when no new hardware is expected at WWDC, Apple has shut down its online store and posted a link to watch the keynote: Apple insider
Roaring Kitty GME Position Update
—up $380M, sold nothing
Roaring Kitty Going Live in 22hrs [June 7]
https://www.youtube.com/live/U1prSyyIco0
SpaceX starship has successfully completed its re-entry and splashes down in the Indian Ocean.
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