News linked to this event type.
According to sources cited by The Wall Street Journal, Chinese AI large-model company StepFun is expected to file its IPO application with the Hong Kong Stock Exchange as early as June 8, with a valuation of approximately $12 billion assigned by its major investors. The IPO aims to raise roughly $500 million, and the company has already begun consultations with multiple financial advisors regarding the listing. Previously, StepFun had initiated the dismantling of its offshore VIE structure to pave the way for its Hong Kong listing.
EDGE Markets, a financial infrastructure for cryptocurrency and prediction markets, has announced the completion of a $29.2 million Series A funding round, led by CoinFund, with participation from Indicator Ventures, Mantis VC, StepStone Group, and Bullpen Capital. The new funds will be used to launch EDGE Pro, a high-throughput capital account product for market makers, which can connect to U.S. CFTC-regulated exchanges for real-time fund transfers. Leveraging a unified clearing and margin management system, it aims to enhance institutional capital efficiency. The company is also currently advancing its applications for NFA Introducing Broker and Futures Commission Merchant licenses. (Prnewswire)
: According to sources, London-based digital bank and financial super app Revolut is quietly seeking a round of secondary equity transactions, targeting a valuation of $115 billion. If successful, this valuation would surpass Barclays and Deutsche Bank, and approach the scale of BNP Paribas.Founded in 2015 and led by CEO Nik Storonsky, Revolut plans to conduct multiple rounds of secondary transactions before its IPO to provide liquidity for internal shareholders while gauging the market's tolerance for its valuation. Storonsky has stated that an IPO is still at least two years away.Based on current revenue of $600 million and profits of $2.3 billion, the $115 billion valuation would give it a price-to-earnings ratio similar to high-growth technology companies. If the transaction goes through, Storonsky's stake would be worth at least $36 billion, placing him among the world's wealthiest fintech founders.Previously, Revolut was already Europe's most valuable private technology company at a valuation of $75 billion. A $115 billion valuation would now propel it into the ranks of top global financial institutions, setting a high bar for its future IPO and signaling investors' optimistic outlook on the company's valuation. (Bloomberg)
According to Bloomberg, digital bank Revolut is planning to launch a secondary share sale, with the transaction valued at approximately $11.5 billion. Sources familiar with the matter said the move aims to provide early investors and employees with an avenue to monetize their shares. The formal process could begin as early as this month, though specific details have not yet been finalized, and the company is currently in preliminary discussions with potential investors.
Odaily AI-driven anti-fraud infrastructure provider InfoHawk has announced the completion of a $2.25 million Pre-Seed funding round, led by Moonshots Capital, with participation from former U.S. Federal Trade Commission Chairman Jon Leibowitz, AppNexus founder Brian O'Kelley, former Meta advertising executive Rob Goldman, GitHub CTO Vlad Fedorov, and others. The new funds will be used to support the company's application of AI content recognition and deep infrastructure analysis technology to help enterprises detect, analyze, and combat large-scale online fraud, phishing sites, brand impersonation, and Deepfake attacks. (PRNewswire)
according to Hyperliquid market data disclosed by MLM, as the SpaceX IPO approaches, the SpaceX prediction market on Hyperliquid is currently quoted at approximately $166/share, corresponding to an implied valuation of about $2.15 trillion.Data shows that there are currently 4,528 traders holding open positions, of which 3,865 are long and 663 are short, with a long-to-short ratio of approximately 85:15. The open interest in this market is around $66.6 million, with cumulative trading volume exceeding $450 million, total units traded reaching 2.333 million, and the cumulative number of transactions over three weeks exceeding 917,000.In terms of profitability, among the 4,528 position holders, 1,001 are in profit, accounting for 22%; while 3,527 are in loss, accounting for 78%. Based on notional position size, the current largest short position holds approximately 27,100 SPCX units, with a position value of about $4.5 million; market maker Cumberland is the second largest short, holding approximately 18,700 SPCX short positions, valued at around $3.1 million.
CryptoQuant analyst Crypto Dan noted that Bitcoin’s MVRV is currently at 1.1, approaching the historically significant low-valuation zone that has marked major market bottoms. If the price falls further to the $50,000 level, the MVRV could reach 1.0—the full low-valuation threshold. Historical data shows this level appeared at the bottom of bear markets in 2015, 2019, and 2022, each time serving as the starting point for strong medium- to long-term rebounds.
Jiang Zhuo’er, founder of the Litecoin mining pool B.TOP, posted his views on Strategy’s Bitcoin sales. He believes Strategy will not sell large amounts of Bitcoin—only small amounts to pay interest. Jiang argues that Strategy raises funds by issuing new STRC tokens to purchase additional BTC, while simultaneously selling a tiny amount of its early-acquired, low-cost BTC to generate accounting profits for paying STRC interest. This reflects its “rolling strategy.” However, if Strategy sold absolutely no BTC, investors might suspect it was using new funds to pay old interest. Small-scale sales generate genuine profits and help maintain Strategy’s image of “never selling Bitcoin,” thereby facilitating continued fundraising.
: AI startup Moonshot AI is seeking to raise up to $2 billion in a new funding round, which would value the company at $30 billion. Moonshot AI has already entered early-stage talks with potential investors and plans to raise over $1 billion. Meanwhile, the company is nearing the completion of a funding round led by Meituan, which values it at $2 billion.As of April, Moonshot AI's annualized recurring revenue had exceeded $200 million, driven by increased demand for its Kimi chatbot and large language model. Additionally, the company is dismantling its offshore structure to pave the way for an initial public offering in Hong Kong, and plans to establish a joint venture structure to allow foreign capital to participate. The company recently launched Kimi Work, a general-purpose AI agent based on its K2.6 series model. (Bloomberg)
According to The Times of India, Indian police have arrested two more suspects in a cryptocurrency case suspected of involving terrorist financing, global drug trafficking, and dark web financial operations, bringing the total number of arrests in this case to 12.
"New Stock God" Serenity posted on X platform, reminding investors to pay attention to financing structures and the dynamics of outstanding shares, as these are crucial for investment returns, and provided examples:IREN: The financing method approaches infinite dilution, with each rebound met by selling pressure—essentially a "bad stock."NBIS: Up 153% year-to-date, thanks to an optimized financing structure (such as direct offerings, convertible bond combinations, etc.).CRWV: High debt interest; the company uses usurious loans for GPU financing, which erodes free cash flow over the long term.Serenity pointed out that if a company has strong fundamentals, one could consider going long after the original shareholding has been diluted to near zero. However, for equity value appreciation, one should stay away from companies with "toxic" financing structures or crushing debt. The risk is especially high for small-cap companies, such as $SLNH adding a $500 million ATM while its market cap is only $250 million; $BKKT continuously diluting stock for executive compensation. Essentially, these companies are transferring investor funds to the enterprise, masked by media hype or influencer promotion.Serenity emphasized that investors must carefully analyze equity structure, dilution risk, and hidden costs when screening targets, to avoid focusing solely on profits while seeing their actual equity shrink.
Odaily News, Glassnode co-founder Rafael posted on platform X to analyze the recent trend of Bitcoin prices. He pointed out that Bitcoin is currently trading in the $62,000 range, down nearly 50% from its all-time high, with a 24% decline in the past month. The price has now broken through the upper range of his pricing framework and entered a valuation cluster zone where bottoms have historically formed.Rafael further indicated that the market bottom cannot be confirmed in advance and can only be identified through probabilistic ranges and key price levels. Bitcoin has fallen below the breakeven line for median holders for the first time since December 2022, and is currently within a broader support zone: the median realized price is approximately $64,100, and the 200-week moving average is around $61,700. At this stage, the high-probability bottom range could be between $46,000-$54,000, while the $35,000-$40,000 area below that represents a rare "sell-off tail." Notably, the magnitude of cycle corrections is gradually diminishing: previous cycles saw drops of roughly 85%, 84%, and 77% from the peak, while this cycle has only declined about 50%. This suggests the high-probability bottom is more likely within the upper range, though extreme sell-offs cannot be ruled out.
Stronger-than-expected U.S. nonfarm payroll data for May triggered market concerns about a potential Federal Reserve interest-rate hike this year. This Friday, previously overcrowded and highly valued U.S. AI and tech stocks suffered sharp losses, while gold and silver prices also plunged dramatically.
According to two sources familiar with the matter, SpaceX’s upcoming IPO has attracted approximately $150 billion in investor subscription commitments—twice the targeted fundraising amount. As the largest IPO in history, this level of investor interest is already highly impressive. The sources cautioned that the offering remains in its early roadshow phase; large institutional investors typically submit orders only near the end of the subscription period. The current figures reflect only indicative subscription interest—not final allocations—which will be determined during the pricing process.
Bitmine announced the pricing of its expanded Series A Perpetual Preferred Stock offering at 3.5 million shares at $80 per share, with closing expected on June 10 and net proceeds of approximately $273.8 million.
According to The Block, Web3 asset management platform XEFFY has completed a $20 million funding round, comprising a $5 million seed round and a $15 million private placement. The funds will be used to expand its Vault management platform, onchain real-world asset (RWA) infrastructure, global community growth, and ecosystem development via the XEFFY Fund.
According to GlobeNewswire, Nasdaq-listed Bitcoin mining company Keel Infrastructure (formerly Bitfarms) announced plans to raise $400 million through the issuance of convertible senior notes. The offering is expected to close around June 9, 2026, subject to market and other closing conditions. Proceeds will be used to pay related capped call transaction costs and for general corporate purposes, including long-term equipment deposits and credit guarantees for data center construction. If the underwriters exercise their over-allotment option, a portion of the net proceeds will be allocated to additional capped call transactions, with the remainder used for general corporate purposes.
According to GlobeNewswire, Blockchain Digital Infrastructure, a U.S.-listed digital infrastructure developer and operator, announced its intention to issue 33,333,334 shares of common stock at a price of $1.65 per share, raising approximately $55 million in total. The proceeds will be used to support the development of AI hosting and high-performance computing digital infrastructure, capital expenditures, and general corporate purposes to drive business growth.
According to a report by the Wall Street Journal, Morgan Stanley predicted in a research report distributed to top-tier investors that SpaceX—owned by Elon Musk—could generate $3.4 trillion in revenue by 2040, setting a $1.77 trillion valuation target for its IPO. The report notes that banking professionals are presenting this valuation rationale to investors based on SpaceX’s long-term growth prospects.
Odaily News, sources say that underwriters for SpaceX's IPO, valued at approximately $75 billion, have been instructed not to accept subscriptions from investors in Mainland China and Hong Kong (including private banking clients). This is due to technical export and compliance risks associated with the U.S. International Traffic in Arms Regulations (ITAR). It is reported that relevant financial institutions have been required to reject funds from these regions to avoid triggering U.S. national security and data security reviews. On Friday, SpaceX's official website was also found to be inaccessible in Hong Kong and Shanghai, displaying an error message indicating a blocked local IP, reflecting a further tightening of restrictions on Chinese capital at both equity and information levels. (Bloomberg)