News linked to both this project and an event.
the whale "First Set Ten Big Goals" posted on platform X, stating that after closing their short position, they quickly re-established a long position because their medium-to-long-term outlook has not changed. They believe the key demarcation zone of the previous bull market was around $60,000, and currently, the mainstream mining cost for Bitcoin is roughly concentrated in the $50,000 to $60,000 range. Last month, Bitcoin quickly recovered after dipping to a low of $58,000, validating the support level in this area. They believe that, barring systemic risks or major fundamental changes, the risk-reward ratio of continuing to short at the current level is not favorable. After Bitcoin completed its consolidation and hand-changing in the $58,000 to $63,000 range, it finished its correction and firmly re-established support around $66,000. The market now has the conditions for further upward movement, and they do not rule out the possibility of a strong bullish candle pushing Bitcoin past $72,000.They also stated that the current valuation of the US stock market, especially the AI-related sectors, is relatively high, which could lead to increased volatility in the future. Furthermore, the correlation between Bitcoin and US stocks has significantly decreased compared to previous cycles. With continued institutional capital inflows and the strengthening of Bitcoin's asset attributes, Bitcoin is gradually forging its own independent market trend..
: DeAgentAI, a decentralized AI infrastructure project on the SUI and BNB ecosystems, announced that its total buyback program of $5 million worth of AIA tokens has been fully executed. The first batch, involving the burning of 1 million AIA tokens, was completed earlier. This second batch burn of 10 million AIA tokens has now been completed, bringing the cumulative total burned to 11 million tokens, accounting for 23.1% of the total repurchased amount. All tokens have been sent to a black hole address for permanent destruction.Furthermore, DeAgentAI announced the official launch of a quarterly burning mechanism. Going forward, the AIA burn plan will be executed on a quarterly basis, marking the deflation mechanism's entry into a normalized phase. The funds for the buyback come from the project's protocol revenue and profits from its proprietary AI trading models, and are unrelated to external financing or token inflation.
: Digital asset trading platform Gate has announced that it will open subscriptions for the second phase of its Pre-IPOs project, OpenAI (OPENAI), from July 15, 2026, 15:00 to July 17, 2026, 15:00 (UTC+8), supporting participation with both USDT and GUSD. The total subscription value for the project is approximately $20 million, with 27,700 OPENAI asset certificates issued at a price of 1 OPENAI = $722. The minimum investment is 100 USDT or 100 GUSD, with implicit handling fees and custody costs waived. OpenAI, driven by products like ChatGPT, is advancing generative AI development and has received investments from Microsoft and others, with an implied market valuation of approximately $895 billion.The OPENAI asset certificate is a pre-IPO mirror note for OpenAI, designed to reflect the company's value before and after its public listing. Gate will hedge its exposure by acquiring the corresponding stocks and will offer pathways including pre-market trading, long-term holding, and future conversion into underlying stock assets, stock tokens, or USDT. Allocations are calculated based on the "average hourly locked amount"; the earlier the participation and the longer the lock-up period, the higher the weight. The certificates will be unlocked in three phases on July 17, August 17, and September 17, with pre-market trading opening on July 20. Concurrently, Gate is launching VIP/Super Agent airdrops, GT rewards, and a 3.8% annualized GUSD minting yield. Furthermore, Gate has already introduced Pre-IPOs, IPO Access, Gate Stocks, and gStocks, covering US, Hong Kong, and Korean stocks, encompassing over 12,500 stocks and ETFs, and will continuously expand its global asset ecosystem, including ETFs and RWAs. Gate will continue to bridge traditional finance with on-chain assets, providing global users with a more open, efficient, and one-stop investment service.
the National Venture Capital Association (NVCA) and PitchBook recently released the "Venture Monitor" report, noting that after SpaceX's listing and the potential IPOs of Anthropic and OpenAI, the combined value generated by these three companies will reach an unprecedented level. The report states: "With SpaceX going public, combined with the future exits of these companies, the value created will surpass the total exit value of all US VC-backed companies since 2000." The core factor lies in the extremely high valuation expectations of these three companies.SpaceX is currently valued at approximately $1.77 trillion, while Anthropic and OpenAI are also moving towards multi-trillion-dollar enterprise valuations. The market estimates that the combined valuation of the three companies could exceed $4 trillion. This scale far surpasses past large-scale tech IPOs. Data from the U.S. Securities and Exchange Commission (SEC) shows that total US IPO fundraising last year was about $70 billion, whereas SpaceX's single-company valuation has already reached a level that traditional large-scale IPOs find hard to match. As a once-highly-watched tech IPO case, Uber was valued at around $84 billion when it went public in 2019, which is less than 5% of SpaceX's current valuation.However, the comparison by NVCA and PitchBook is based on "enterprise value created," not the actual cash-out amounts for investors. Additionally, the analysis does not include non-US companies like Alibaba. Furthermore, the value created by already-public companies such as Apple, Google Android, YouTube, and Instagram is not counted in the VC exit statistics.The report points out that over the past 25 years, the US tech market has seen several historic IPOs, including Google in 2004, Tesla in 2010, and Meta in 2012. These companies have since become some of the world's most valuable enterprises. Additionally, companies like LinkedIn, Slack, and WhatsApp were acquired for over $20 billion.The NVCA believes that the current IPO cycle driven by artificial intelligence (AI) could further break these records. The analysis suggests two main reasons driving this trend:First, tech companies are staying private for longer periods than in the past, accumulating higher valuations through prolonged financing and business expansion. If today's Google were in its early stages, it might also choose to go public later to achieve a higher market valuation.Second, the AI industry is highly capital-intensive. Training large AI models requires massive investment, pushing AI companies to continuously raise substantial funds and driving rapid valuation growth.Industry insiders believe that the potential scale of IPOs by SpaceX, Anthropic, and OpenAI will test the capacity of the US capital market. As AI companies transition from the private financing stage to the public market, how trillions of dollars in tech assets flow into the stock market will become a focus for investors. (DigitalToday)
Odaily Odaily: In response to recent community discussions, the Aave CEO issued a statement clarifying that Aave will never sell AAVE tokens at a 70% discount.According to the "Aave Will Win (AWW)" proposal, 100% of the revenue generated by the Aave protocol and the GHO stablecoin belongs to AAVE token holders. This principle also applies to all product revenues, including Aave App, Aave Pro, and Swaps. As a service provider for Aave DAO, Aave Labs is solely responsible for protocol development and expansion and does not receive any protocol or product revenue.The Aave CEO revealed that Aave's current annualized revenue has reached $134 million, all of which belongs to Aave DAO. Additionally, the Aave brand and related software intellectual property rights belong to AAVE.Furthermore, the team is designing Aavenomics 3.0, which plans to introduce a new, automated, non-discretionary buyback mechanism. More details will be announced later. He stated that Aave's goal is not only to serve the crypto market but also the entire financial asset market, including Real World Assets (RWA).
Jiang Zhuoer stated in a post that MicroStrategy (MSTR) currently holds approximately $55 billion in Bitcoin assets, corresponding to an annual dividend payment of about $1.7 billion for its STRC preferred stock. Theoretically, selling BTC could cover dividend requirements for roughly 32 years.STRC is classified as preferred stock rather than a debt instrument, so there is no traditional mandatory principal repayment pressure. From a financial structure perspective, MSTR does not face "liquidation-style leverage risk" or short-term solvency crises. However, the discussion itself reflects growing market concerns about the company's long-term cash flow and cryptocurrency asset volatility. STRC has already experienced significant discount fluctuations, limiting its refinancing capabilities.Furthermore, MSTR has recently relied more on issuing common stock (which may dilute BTC per share when mNAV is below 1) to fund its BTC accumulation. This strategy is difficult to sustain over the long term.Jiang Zhuoer indicated that even if the scale of MSTR's actual BTC sales to pay dividends is relatively small compared to the broader market, the symbolic significance may be more important. It could pressure market confidence and prompt investors to reassess the possibility of "long-term passive BTC selling." Market understanding of this structure is not uniform, and this divergence in perception itself could become an important factor influencing expectations and sentiment.
Gate’s Hong Kong stock trading targets have further expanded to over 1,500 stocks, building on the original base of more than 1,000 to continuously enrich the coverage of assets listed on the Hong Kong Stock Exchange, aiming to improve access to global stock markets. Users can directly trade stocks listed on the Hong Kong Stock Exchange through the stock entry point, participate in pre-market and after-hours trading sessions, and conveniently invest in Hong Kong stocks using USDT, without needing to open a traditional brokerage account or perform Hong Kong dollar conversion, significantly lowering the entry barrier for global investors. Gate’s Hong Kong stock trading service now offers comprehensive coverage across both the App and Web platforms, with the Gate App requiring an update to version 8.23.5 or higher.This expansion of trading targets covers high-quality listed companies with larger market capitalizations and better liquidity on the Main Board and GEM, thereby improving the structure of Hong Kong stock assets. Simultaneously, Gate has established a multi-tiered product system encompassing Pre-IPOs, IPO Access, and secondary stock market trading. IPO Access provides users with a new channel to participate in the subscription of globally popular companies going public. Furthermore, Gate Stocks supports users in trading over 10,000 US mainstream market stocks and ETFs using USDT, covering major US securities trading markets and liquidity networks such as NYSE, Nasdaq, NYSE Arca, NYSE American, and BATS. It also supports fractional share trading with a minimum investment of 0.01 shares. In the future, the platform will continuously expand its coverage of global stocks and traditional financial assets, optimizing asset allocation efficiency and the trading experience.
SpaceX began trading last Friday, with an opening price of $150 per share. It rose as high as $171 during the session, propelling Elon Musk to become the world's first "trillionaire," driven by his holdings in SpaceX and Tesla.However, managing a trillion-dollar fortune is far from a simple scaled-up version of managing a billion-dollar one. Wealth managers indicate that there are currently almost no traditional wealth advisors with experience managing trillion-dollar assets. Taking on Musk's wealth would require establishing a new kind of family office with a governance structure similar to a large corporation.Experts point out that for a trillion-dollar fortune, the core issue has shifted from "how to grow assets" to "how to maintain control, reduce risk, and achieve long-term governance." At this scale, wealth management must simultaneously consider asset succession, tax planning, market influence, liquidity, public scrutiny, and multi-generational governance.Unlike ordinary billionaires, a trillion-dollar fortune itself can influence market prices. Advisors say that if the holder sells stock, the trading activity could directly impact the market performance of the related companies. This also involves risks related to voting control and corporate governance.Furthermore, a trillion-dollar net worth does not equate to having the same amount of cash on hand. The majority of Musk's wealth comes from corporate equity. Financing through stock pledges exposes him to margin risk, interest rate risk, and concentration risk.Wealth management experts believe that at this scale, a 1% loss in management efficiency equates to approximately a $10 billion loss in value. Therefore, the focus is no longer just the investment portfolio, but on building a complete framework to protect wealth, manage control, and plan for succession. (Fortune)Analysts also point out that the specific risk of Musk's wealth lies in the high degree of linkage between his personal influence and his companies. The future development of SpaceX and Tesla will depend not only on the assets themselves but also on Musk's personal leadership and long-term planning capabilities.
the Bitcoin treasury company Nakamoto officially announced that it generated approximately $48 million in net proceeds by selling about 600 BTC and related derivative positions, thereby repaying approximately $45 million in outstanding debt to Kraken. This move is expected to reduce annual financing costs by approximately $4 million.Following the transaction, the company signed a new loan term sheet with Kraken for the remaining 165 million USDT, with a principal of 105 million USDT deferred to June 30, 2027, and an annual interest rate that can be reduced to 7.75% upon meeting the Bitwise custodied wallet collateral threshold. Additionally, the company’s board of directors has authorized a share repurchase program of up to $25 million. Currently, the company still holds approximately 4,467 BTC on its balance sheet. Furthermore, according to a notice from Nasdaq, the company has regained compliance with listing requirements.
digital asset platform Gate has released its May 2026 transparency report. The report indicates that multi-asset trading and prediction markets are becoming key growth engines for the platform. As of the end of May, Gate had listed 605 CFD trading assets, covering multiple categories including stocks, indices, forex, metals, and commodities, ranking among the top globally among crypto trading platforms in terms of asset count. Additionally, Gate Stocks allows users to trade over 10,000 US stocks and ETFs from major U.S. markets using USDT, covering the main U.S. securities trading markets and liquidity networks. The platform's direct IPO first-phase project, SpaceX, saw意向 subscription amounts exceed $100 million.Meanwhile, the platform continues to deepen its presence in the prediction market sector. Gate has deeply integrated Polymarket, launching features such as smart money tracking, wallet monitoring, top holdings, profit/loss statistics, and AI analysis. As the first CEX platform to integrate Polymarket, Gate continues to strengthen its advantage as a prediction market gateway, maintaining a leading position in user participation scale, market activity, and ecosystem influence.Furthermore, Gate's flagship event, WCTC S8, successfully concluded in May, attracting over 80,000 participants and 9,500 registered teams. The cumulative total weighted trading volume for the event exceeded $50 billion, with the CFD segment alone accounting for a cumulative trading volume of over $140 billion, reflecting the strong growth momentum of traditional financial assets within crypto trading scenarios. As stablecoins, RWA, asset tokenization, and prediction markets emerge as new growth engines for the industry, Gate will continue to expand its business layout in stocks, forex, and IPOs, aiming to build a comprehensive one-stop global digital financial services platform.
SpaceX is progressing with its IPO and seeking a valuation of approximately $1.78 trillion. If realized, it would become the world's seventh-largest company by market cap. However, the mid-to-long-term business path justifying this valuation remains unclear.Furthermore, SpaceX's core narrative is shifting. In February of this year, Musk integrated SpaceX with xAI, making artificial intelligence a key component of the company's strategy. Compared to the original core vision of "making humanity a multi-planetary species," AI now occupies a more prominent position in the company's narrative. In the first quarter, xAI-related business reportedly accounted for over three-quarters of capital expenditures, while approximately 93% of the total addressable market mentioned in the IPO filing is also related to AI.Musk has long been adept at restructuring business narratives to align with market preferences, as seen in previous cases like integrating SolarCity into Tesla and merging Twitter with the xAI ecosystem. SpaceX's new narrative combines rocket launches with AI, envisioning the deployment of AI data centers in orbit to build future computing infrastructure. However, SpaceX launched approximately 2,200 tons of payload into orbit last year, while Musk has suggested that realizing the orbital data center vision would require an annual launch capacity of about 1 million tons. Although Starlink and the rocket business already hold industry-leading positions, genuine cash flow will ultimately be needed to validate this massive valuation hypothesis. (Financial Times)
SpaceX officially filed its IPO prospectus last week. However, CEO Elon Musk's recent social media posts detailing the company's computing power leasing agreement with Anthropic have shown clear discrepancies with the prospectus's content. The prospectus states the collaboration will last until 2029, with a monthly rent of $125 million; Musk claims the agreement is merely a 180-day short-term lease, with either party able to terminate the partnership with 90 days' notice.This divergence makes it difficult for investors to assess the company's valuation, and industry experts have raised questions about the standardization of information disclosure. Furthermore, analysts point out that the prospectus is missing several key data points. SpaceX is expected to go public on June 12. The company is currently valued at over one trillion dollars and continues to operate at a loss. (CNBC)
Odaily reports: Bitget has announced the launch of Reality, a licensed financial protocol focused on the tokenization of Real World Assets (RWA). The issued tokenized stocks (rTokens) are strictly pegged 1:1 to the underlying US stocks, with assets custodied at a US securities broker-dealer that is FINRA-registered and SIPC-protected. Real-time proof of reserves is provided through third-party independent audits. By directly accessing liquidity pools from Nasdaq, NYSE, and other US stock exchanges, Reality's stock tokens can achieve liquidity on par with traditional brokerages. Meanwhile, stock dividends will be distributed 1:1 to user accounts in token form, cash dividends will be automatically converted into USDT for distribution, and stock splits and reverse splits will be mapped to on-chain tokens in real-time, offering an experience highly consistent with holding US stocks.Furthermore, the US stock tokens launched by Reality are deeply integrated with the Bitget ecosystem. They can be used, for example, as margin for unified accounts and are compatible with core product lines such as grid trading, copy trading systems, and staking/lending.Gracy Chen, CEO of Bitget, previously proposed the "10% Vision": Currently, tokenized stocks represent only 0.1% of the $125 trillion global stock market. She predicts this proportion will rise to nearly 10% by 2030. Reality is built on this trend. In its initial phase, it will focus on US stocks, and will later expand asset classes, driving the extension of Bitget's UEX strategy into a broader access layer for global financial assets.
on-chain card trading platform Fantasy.top has announced its decision to shut down after months of deliberation and exploring other options. Co-founder Kipit stated that the core reason for the failure was building crypto technology on top of a trading card game model, as the two are fundamentally incompatible. Crypto trading card games place financial value as the primary entry point for players, attracting investors rather than gamers. This leads the project to become about managing an economy rather than building a game. Furthermore, Kipit pointed out that issuing tokens before achieving product-market fit is toxic.In response to earlier accusations of refusing refunds, the official statement reiterated that since the business was self-funded through product revenue, investor funds were never touched. All pre-seed and seed round investors will receive full refunds. (theblock)
Sharplink CEO Joseph Chalom stated that Ethereum treasury companies are gradually deviating from the model of Strategy and Michael Saylor, focusing more on staking yields and a clean balance sheet rather than relying on complex financing structures.Chalom believes that Ethereum treasury companies can generate returns directly by holding ETH, thus eliminating the need for excessive leverage. He also indicated that only a few Ethereum treasury companies will be able to survive through market downturns.Furthermore, citing BlackRock CEO Larry Fink's previous views, he described Ethereum as a "tokenized toll road" and pointed out that the New York Stock Exchange and Nasdaq's push for 24-hour trading plans, DTCC's exploration of tokenized collateral, and Bullish's acquisition of Equiniti will all further drive tokenized assets into the traditional financial system.Chalom expects that as stablecoins, tokenized assets, DeFi, and AI applications continue to expand, Ethereum will gradually forge a different development path from Bitcoin in the future. (The Block)
crypto research institution Delphi Digital has released its latest report, "How Far Can Saylor Stretch It," providing a systematic analysis of Strategy's Bitcoin (BTC) capital expansion mechanism. It indicates that the company's financing structure is transitioning from a phase of "low-cost accumulation" into one of "diminishing marginal efficiency."The report shows that within the current asset accumulation system centered on Bitcoin, STRC has become the core financing tool for Strategy's continued BTC purchases. Initially, the company relied on a significant premium in MSTR's stock price (with mNAV far exceeding BTC's net asset value) to create a positive cycle where "issuing shares meant increasing holdings." However, as valuations have receded to approximately 1.24 times the base mNAV of enterprise value, the BTC-per-share accretion effect from common stock issuance is approaching a break-even point.Meanwhile, while convertible bonds have played a crucial role historically, they have accumulated a principal of approximately $8.2 billion and face concentrated repayment pressure after September 2027, putting long-term strain on the sustainability of the financing structure.STRC provides Strategy with a continuous source of financing—used to maintain its BTC buying pace—by offering yield-seeking investors an approximately 11.5% annualized monthly dividend. However, this mechanism also introduces ongoing cash flow obligations, meaning that each round of financing simultaneously builds future dividend burdens while increasing BTC assets.The report emphasizes a key risk scenario: if BTC's price remains stagnant and MSTR's premium fails to recover, the "gains from STRC-financed coin purchases" could be progressively offset by "common stock dilution and dividend obligations." Although the company's approximately $2.25 billion cash reserve can cover its roughly $1 billion redemption pressure in 2027, its larger debt and dividend structure in 2028 remains unresolved.Furthermore, STRC's current authorized issuance limit of approximately $28.3 billion serves as a critical constraint. Once this limit is reached, the capacity for new BTC purchases may slow, yet existing dividend obligations will persist—thereby altering the overall dynamic growth trajectory of BTC per share.
Matthew Sigel, Head of Digital Assets Research at VanEck, stated he expects Bitcoin to revisit its all-time high within the next 12 months. This is because the current correlation between BTC and the Nasdaq index is near a five-year high, and the resilience of the US stock market provides support for this rebound. However, the derivatives market has not yet shown significant optimism; futures and options trading largely reflects short covering and hedging demand. From a contrarian perspective, this suggests the Bitcoin rally may still have room to continue.Matthew Sigel also noted that a central bank has already announced plans to include Bitcoin in its foreign exchange reserves this year, indicating that BTC is gradually evolving into a global asset suitable for large-scale cross-border settlements. He believes this will become a long-term trend. In terms of investment direction, he favors a further increase in Bitcoin's market dominance, as well as Bitcoin mining companies poised to benefit from the trend of AI integration. He believes mining companies are increasingly becoming significant beneficiaries of AI infrastructure, and as AI-related businesses grow, the pressure on miners to sell BTC for financing is also decreasing.Furthermore, Matthew Sigel believes that if the CLARITY Act is eventually passed, it could revitalize sentiment in the altcoin market. However, currently, most institutional investors remain cautious towards the majority of altcoins due to regulatory and investor protection concerns.
Odaily News According to Etherealize's latest research report, which proposes the "Productive Money" theory, if Ethereum captures the combined monetary premium of approximately $31 trillion currently held by gold and Bitcoin, its implied price could exceed $250,000, far above the current level of around $2,300.The report points out that ETH not only possesses traditional monetary attributes such as scarcity, verifiability, and censorship resistance but can also generate an annualized yield of about 2%–4% through staking, achieving an "interest-bearing" monetary characteristic, thereby distinguishing it from non-productive assets like gold and Bitcoin.Furthermore, within the DeFi system, ETH serves a triple demand source as a "collateral asset + fee-burning mechanism + staking lock-up," forming a mechanism for supply contraction and value accumulation. The report believes that with the development of on-chain finance and asset tokenization, ETH is expected to simultaneously possess the dual attributes of a "store of value + productive asset."However, the report also notes that ETH's path to achieving this valuation still faces multiple uncertainties including regulation, technology, and competition. Its long-term value revaluation depends on the market's recognition of its monetary properties.
Odaily News SpaceX will hold a three-day closed-door analyst meeting in the United States this week to present its business and strategy to Wall Street institutions in preparation for a potential IPO. Informed sources stated that the company aims to raise approximately $75 billion, with a valuation potentially reaching $1.75 trillion, and plans to go public as early as June.The meeting will cover SpaceX's Starbase launch site in Texas and its data center project in Tennessee. Participating analysts are required to surrender electronic devices to ensure information confidentiality. This roadshow is a key part of the IPO process, and subsequent model explanation meetings will be held to further disclose financial and growth expectations.Furthermore, the company plans to reserve approximately 30% of its shares for retail investors and expand into global markets. Several Wall Street investment banks have already participated in underwriting arrangements. (Reuters)
Odaily News BNB treasury company BNB Plus disclosed that it has received a notice from Nasdaq. Due to its stock price falling below the minimum requirement of $1, it no longer meets the continued listing standards. Furthermore, because the company implemented a reverse stock split within the past year, it is not eligible for the standard compliance period. The company stated it has requested a hearing, and its stock will continue to trade on Nasdaq until the outcome is determined.Additionally, BNB Plus announced that its board of directors has approved the initiation of an evaluation of strategic alternatives to maximize shareholder value. Potential options include transactions such as mergers, reverse mergers, asset sales, joint ventures, financing, etc. As of now, the value of its crypto treasury assets is approximately $12.2 million. (Businesswire)