Crypto News & Market Updates

According to ChainCatcher, California crypto executive Adam Iza admitted on Monday to orchestrating a failed kidnapping attempt targeting the parents of Veer Chetal. The case is related to Veer Chetal's previous involvement in a $245 million Bitcoin theft. Adam Iza, 25, also known as Ahmed Faiq, previously ran the crypto trading company Zort, calling himself the "Godfather." Veer Chetal and two others involved stole 4,100 bitcoins from Washington residents by posing as technical support staff from Google and crypto exchanges, valued at about $245 million at the time. Adam Iza and his accomplices attempted to obtain part of the stolen money by kidnapping Veer Chetal's parents. Additionally, Adam Iza admitted to stealing over $37 million between 2020 and 2022 by fraudulently accessing Meta's business manager accounts and credit lines. Federal prosecutors are seeking at least 14 years in prison when sentencing him.

BlockBeats reported that on June 3, when SpaceX announced its IPO underwriter list, Jefferies was not among them, but bearish investors and some senior executives at Jefferies Group saw this as a rare opportunity. Insiders revealed that hedge funds not investing in SpaceX are contacting Jefferies to ask if short positions can be made after SpaceX's listing. As the largest U.S. investment bank not participating in SpaceX's IPO, Jefferies is now uniquely positioned to arrange these transactions. A total of 23 banks involved in SpaceX's IPO cover the vast majority of Wall Street giants. SpaceX's IPO is expected to be listed on June 12, under the ticker symbol SPCX. SpaceX announced today that it plans to set its initial public offering (IPO) price at $135 per share, with plans to issue about 555.6 million shares, raising a total of $75 billion and valuing the company at around $1.75 trillion. If successfully completed, it will become one of the largest IPO projects in the history of global capital markets. Currently on trade.xyz, SPCX's pre-IPO price is $189, corresponding to a post-IPO valuation of $2.25 trillion, which is 28.5% higher than the IPO price.

According to Bijie.com, Real Finance has reached a strategic partnership with Anchorage Digital aimed at supporting the full lifecycle of tokenized assets to meet institutional demand for real-world asset (RWA) tokenization. This collaboration combines Real Finance's blockchain tokenization infrastructure with Anchorage Digital's compliant custody and settlement capabilities, aiming to address operational challenges that hinder broader adoption of tokenized financial products. The two parties will cooperate in asset issuance, custody, settlement, and liquidity, providing a more comprehensive framework to support institutions in participating in on-chain capital markets. Real Finance operates a Layer 1 blockchain compatible with the Ethereum Virtual Machine (EVM), while Anchorage Digital is the first crypto bank in the United States to receive federal license. Executives from both sides stated that this collaboration will drive the construction of infrastructure for institutional-scale adoption of tokenized assets.

Odaily Planet Daily reports that when SpaceX announced its IPO underwriter list, Jefferies was not among them, but bearish investors and some senior executives of Jefferies Group saw this as a rare opportunity. According to insiders, hedge funds not investing in SpaceX are contacting Jefferies to ask if short positions can be made after SpaceX's listing. As the largest U.S. investment bank not participating in SpaceX's IPO, Jefferies is now uniquely positioned to arrange these transactions. Although Wall Street companies typically help clients make multifaceted investments in a company's stock, when one department announces a bullish stance on a stock while another helps clients short it, lawyers may feel uneasy. Moreover, if any of the 23 banks underwriting SpaceX's IPO turn against the market and engage in bearish trades, it's hard to imagine how Musk, who is known for his fickle nature, would react. (Jin Shi)

BlockBeats reported that on June 3, Bankless co-founder David Hoffman announced that after liquidating ETH, he immediately bought about 50% of his funds into VVV, NEAR, ZEC, and HYPE; The remaining 50% of funds have been gradually invested as cash reserves and have been fully invested in LIT. On May 21, Bankless co-founder David Hoffman announced that he had fully sold all ETH. He then posted a detailed explanation of the reasons for liquidating spot Ethereum, emphasizing that this decision was not a whim. David stated that the grand narrative of "ETH is money" has not failed; instead, it has been fully priced and delivered to its deserved outcome—the Ethereum network has achieved a valuation matching its current achievements, but ETH assets themselves are unlikely to be repriced by the market, whether upward or downward. He remains extremely optimistic about the Ethereum network, believing the ecosystem will be exceptionally prosperous, though only a small portion of these successes will continue to be reflected in ETH's price.

According to Bijie.com, Musk's xAI has suspended hiring professionals to train Grok, signaling a possible shift in how it develops technology. Since the beginning of this year, xAI has been working hard to recruit accountants, financial experts, scientists, and even comedians to teach Grok how to perform better in areas ranging from tax to humor, in hopes of expanding the chatbot's appeal. Unlike competitors who mainly rely on large numbers of contract workers from third-party companies to train and optimize their AI models, xAI decided to suspend recruitment for these positions, at least partly out of concern that the company's HR department would be overwhelmed and unable to handle new recruitment. Sources revealed that xAI laid off several AI mentors last fall, followed by another round of layoffs, while other teams also made staff reductions.

Odaily Planet Daily reports that prediction market platform Kalshi announced on X that it has officially launched Bitcoin perpetual contracts. Reportedly, this is the first Bitcoin perpetual contract product in the U.S. to be regulated and approved. This product is a perpetual contract based on the spot price of Bitcoin as a reference and is classified as a futures contract. The U.S. Commodity Futures Trading Commission previously stated that, after review, it determined that the BTCPERP contract complies with the Commodity Exchange Act and related regulatory requirements, including the core principles applicable to designated contracts markets (DCM).

BlockBeats News: On June 3, according to official WLFI sources, USD1 will be deployed on the MOVA Chain, with an initial scale of $100 million. This deployment is not a single stablecoin issuance or liquidity access, but an ecological layout centered on stablecoin assets, institutional-level settlement networks, and secure infrastructure for the post-quantum era. In this architecture, USD1 will be integrated into the MOVA ecosystem as an asset and liquidity layer, while MOVA provides infrastructure for its institutional-level, post-quantum on-chain settlement layer. MOVA stated that as stablecoin application scenarios gradually extend from transaction liquidity to payments, clearing, RWA, cross-border settlement, and institutional finance, the next phase of stablecoin infrastructure competition will no longer be determined solely by liquidity but will increasingly depend on the underlying network's security, compliance, scalability, and global settlement capabilities. This $100 million USD1 deployment is seen as an important starting point for building post-quantum stablecoin infrastructure for MOVA. MOVA stated that it will continue to build around institutional-level on-chain settlement, compliant financial applications, and a global stablecoin ecosystem.

BlockBeats reported on June 3 that Bridgewater founder Ray Dalio said in a Bloomberg TV interview today that the artificial intelligence (AI) bubble will eventually burst. Ray Dalio has previously stated multiple times that the current AI boom is in the early stages or formation of a bubble, with typical bubble characteristics: high valuations, excessive speculation, paper wealth far exceeding real money, and other signs, similar to the 2000 internet bubble. But Dalio also emphasized that even if the bubble bursts, it won't negate the long-term revolutionary value of AI technology—most AI-related companies may struggle to survive, but the underlying technology will continue to change the world. It is recommended that investors do not rush to exit but should be wary of triggers that "burst bubbles," such as the Federal Reserve's tightening of monetary policy, while remaining cautious and diversified.