News linked to this event type.
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)
According to monitoring by on-chain analyst Ai Yi, an entity affiliated with Hex Trust has accumulated 72.23 million H tokens over the past 4 hours, representing 2.55% of the token's circulating supply. In April, the foundation made significant adjustments to the token vesting schedule for early investors, either extending the unlock period or distributing the full token amount at a discount (a 70% reduction) in a single payment on June 26. Hex Trust is one of the strategic investors, and it remains unclear whether this asset transfer is related to the upcoming unlock.
“New Stock God” Serenity posted on X platform to clarify that he does not currently hold any shares of Harmonic Drive, and the related views are solely public research sharing. He further added that Harmonic Drive holds a key position in the humanoid robot industry chain, with its products expected to cover a significant portion of the manufacturing processes for humanoid robots. Currently, companies like AGIBot and Unitree have just entered the scale-up stage, with AGIBot’s cumulative shipments reaching only about 10,000 units. Therefore, the P/E valuations of related companies are generally high at this stage.However, Serenity pointed out that capital markets typically price in future growth expectations in advance. If manufacturers like Tesla Optimus and Unitree achieve mass production of tens of millions or even hundreds of millions of robots in the coming years, and with trillions of dollars flowing into the humanoid robot industry, even if Harmonic Drive only captures about a 5% market share of core robot components, its valuation could be significantly higher than its current market capitalization.Based on comprehensive research of the industry chain, Serenity stated that Harmonic Drive is currently one of the highest-exposure targets he has identified related to the development of the humanoid robot industry.
According to an investigation by on-chain detective ZachXBT, Rain Protocol ($RAIN), a prediction market project with a market cap of approximately $8.8 billion, faces serious risks. ZachXBT traced on-chain addresses and found that RAIN’s team funding is linked to the Gems hot wallet. The same addresses previously transferred funds simultaneously for the failed projects DOP and TOMI—suggesting possible team overlap. TOMI, DOP, and Sirin Labs all trace back to controversial Israeli businessman Moshe Hogeg, who was detained in 2021 for crypto-related fraud and charged by police in 2023 with orchestrating a $290 million cryptocurrency fraud scheme. Additionally, $RAIN’s token price appears to be manipulated on-chain; its Total Value Locked (TVL) consists almost entirely of its own highly illiquid native token, and its annual fee revenue amounts to only about $1 million. Gems.vip—the launchpad that incubated these projects—is reportedly preparing a new presale for Kai Platform. Meanwhile, DOP’s previously raised $162 million remains unaccounted for, prompting ongoing complaints from retail investors.
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)
Nova Markets has announced the completion of a new funding round, with participation from Wintermute Ventures, Robot Ventures, Big Brain VC, Cumberland, GSR, Greenfield Capital, Hash3, Bodhi Ventures, Kairos Research, and others. The project primarily focuses on on-chain capital and prediction market infrastructure, and the funds will be used to migrate more perpetual contracts and prediction markets on-chain.
Goldman Sachs expects SpaceX’s AI revenue to surge 100-fold by 2030. (Jin10)