fun

According to Coinglass data, the current 8-hour average funding rate for ETH across the network is -0.0023%. Among the current mainstream exchanges, the funding rate on Binance is -0.0032%, OKX is -0.0136%, Bybit is -0.0013%, and Gate is -0.0091%.

According to Coinglass data, the current 8-hour average funding rate for BTC across the network is 0.0021%. Among the current mainstream exchanges, the rate for Binance is 0.0027%, OKX is -0.0034%, Bybit is 0.0039%, and Gate is -0.0011%.

According to a report by Jinshi, Huasheng Securities issued a notice to clients on the morning of June 6, stating that starting from June 15, Beijing time, it will adjust services for existing investor accounts in mainland China, including suspending the opening of new positions and increasing positions in all varieties such as stocks, and only supporting sell and close operations; suspending the transfer of funds and securities, while the transfer out function remains normal.The notice stated that this adjustment does not affect the services provided to existing investors overseas, nor does it affect the safety of existing assets for all clients. Clients can normally check their accounts, hold, and sell existing positions.

According to Jinshi, citing two informed sources, SpaceX's IPO has received approximately $150 billion in investor subscription funds, with the subscription amount reaching twice the fundraising plan. As the largest IPO in history, the enthusiasm for subscriptions has been quite remarkable.Informed sources indicate that the project is still in the early promotion stage, and large institutional funds typically submit orders only at the end of the IPO subscription period. Current statistical data only reflects intended subscriptions and not the final allocation amount; the actual allocation quantity will be determined during the pricing phase.

According to Coinglass data, the current 8-hour average funding rate for ETH across the network is -0.003%. Among the current mainstream exchanges, the rate on Binance is -0.0079%, OKX is -0.0112%, Bybit is -0.0015%, and Gate is -0.0065%.

According to Coinglass data, the current 8-hour average funding rate for BTC across the network is 0.0008%. Among the current mainstream exchanges, the rate on Binance is -0.0012%, OKX is -0.0025%, Bybit is 0.0028%, and Gate is -0.0009%.

According to Coinglass data, the current average funding rate for ETH across the network over the past 8 hours is -0.0016%. Among the current mainstream exchanges, the funding rate on Binance is -0.0074%, OKX is -0.0102%, Bybit is -0.0066%, and Gate is -0.0044%.

According to Coinglass data, the current 8-hour average funding rate for BTC across the network is 0.001%. Among the current mainstream exchanges, the rate on Binance is -0.0009%, OKX is -0.005%, Bybit is -0.0026%, and Gate is 0.0025%.

The General Office of the State Council has released guiding opinions on strengthening regulation, preventing risks, and promoting the high-quality development of private equity investment funds. The opinions mention adhering to goal-oriented and problem-oriented approaches, addressing issues such as the need to improve the access mechanism for the private equity fund industry, inadequate regulation, incomplete systems, insufficient coordination and cooperation among ministries, central and local governments, the failure to implement the responsibilities of some government investment funds and state-owned enterprise investment fund contributors, and the use of some private equity funds as tools for illegal activities, new forms of corruption, and hidden corruption. A system and long-term mechanism for strengthening regulation and preventing risks will be established to promote the development of the industry in a standardized manner and enhance it during development.Uphold functional positioning, coordinate the overall layout, optimize increments, revitalize existing resources, support the excellent and limit the inferior, improve quality and efficiency, and strictly prohibit private equity funds from engaging in illegal activities such as lending and disguised debt. Adhere to classified regulation, implementing "one policy for one category" regulation based on different dimensions such as contributor entities and product types. Insist on regulating both legal and illegal entities, with strict regulation for legal institutions, resolute prohibition of illegal institutions, and severe crackdowns on illegal activities.Promote the revision of the Securities Investment Fund Law. Push for the issuance of judicial documents related to criminal cases involving private equity funds. Formulate regulations for the supervision of private equity fund managers, information disclosure, fundraising, and mandatory custody rules. Introduce standardized arrangements for private equity fund betting agreements. Fully establish a regulatory system for private equity funds that is primarily based on administrative regulation and supplemented by self-regulation.

According to Coinglass data, the current average funding rate for ETH across the network over 8 hours is 0.0001%. Among the current mainstream exchanges, the funding rate for Binance is -0.0032%, OKX is 0.0026%, Bybit is -0.0068%, and Gate is -0.008%.

According to Coinglass data, the current 8-hour average funding rate for BTC across the network is 0.001%. Among the current mainstream exchanges, the rate for Binance is -0.0015%, OKX is 0.0021%, Bybit is -0.0036%, and Gate is 0.0015%.

In the past week, global crypto ETFs recorded net outflows for two consecutive weeks, with a cumulative outflow of $2.54 billion. Against the backdrop of adjustments in macro interest rate expectations, institutional risk appetite has contracted, but traditional financial assets such as stocks still maintain strong attractiveness.Data shows that the Gate TradFi Perp market exhibits significant asset rotation characteristics, with metals remaining the main trading sector, and daily trading volume once approaching $550 million to $600 million; meanwhile, the trading volume share of stock contracts continues to rise, indicating that the market's demand for allocation in U.S. stock-related assets is increasing. In the context of continued activity in AI tech stocks and U.S. stock indices nearing historical highs, TradFi Perp is gradually evolving from a single gold trading market to a dual-core structure of "gold + U.S. stocks."As institutional funds accelerate their allocation to stocks, ETFs, and other TradFi assets, Gate continues to promote the integration of TradFi assets and the construction of a multi-asset trading ecosystem, continuously strengthening its capability to provide institutional-level global asset allocation services, offering professional investors a more efficient one-stop cross-market trading solution.

According to BBX data, Bitcoin fell to a new low of $61,300 this year yesterday, putting pressure on the cryptocurrency sector. Key signals have emerged from institutions and the legislative level, with the core dynamics as follows:Michael Saylor, founder of Strategy, Inc. (NASDAQ: $MSTR), publicly stated on June 4 that the current decline in Bitcoin is not due to a deterioration in BTC fundamentals, but rather a "phase rotation" of capital from Bitcoin to AI stocks, SpaceX IPO, and other emerging assets—"Bitcoin is not broken; it’s just temporarily not the main character in the momentum trade." Saylor also reiterated his position of continued accumulation. Previously, Strategy spent approximately $2.01 billion (average price $80,985) to acquire 24,869 BTC in the week from May 11 to 17, bringing their total holdings to 843,738 BTC with a total cost of about $63.87 billion (average price $75,700); currently, BTC has fallen below the cost line of $12,300, and all of the company's holdings are in a state of unrealized loss, but management has not publicly indicated any intention to reduce their positions.JPMorgan Chase & Co. (NYSE: $JPM) reported by CoinDesk on June 4 warned in its latest research report that the legislative time window for the CLARITY Act to be voted on by the full Senate is "rapidly narrowing." The wording discrepancies in the stablecoin yield provisions have evolved into the most critical unresolved obstacle for the bill—banks insist on retaining restrictions on "passive income," while the cryptocurrency industry strives for "activity incentive space." If a compromise cannot be reached between the two parties within this month, the timeline for the Senate to complete a 60-vote approval before July 4 will be completely invalidated; the report also pointed out that the capital siphoning effect from the SpaceX IPO and AI stocks has further suppressed institutions' willingness to allocate to BTC in the short term.

According to Bloomberg, the three types of investors under Michael Saylor's Strategy—Bitcoin holders, leveraged equity traders, and preferred shareholders—are all under pressure. Strategy sold 32 Bitcoins this week, marking the first sale since the end of 2022, breaking the "never sell" promise. Bitcoin has fallen to a four-month low, and Strategy's stock price has dropped about 70% from last year's peak, with STRC preferred shares falling below the $100 par value. STRC has an annualized dividend of 11.5%, and if the market continues to weaken, the pressure to pay dividends will continue to rise.Analysts point out that increasing the dividend rate will add a $1.7 billion burden, while keeping it unchanged will lead to further price declines. Strategy will vote on Monday to change the dividend to bi-monthly payments to stabilize the price. The Chief Investment Officer of Arca stated that unless Bitcoin rebounds before the cash buffer is exhausted, it will be nearly impossible to protect all stakeholders. StoneX believes that this sale indicates that Strategy can fulfill its obligations without materially reducing its holdings.

According to Coinglass data, the current 8-hour average funding rate for ETH across the network is 0.0028%. Among the current mainstream exchanges, the rate on Binance is 0.0047%, OKX is 0.003%, Bybit is -0.0013%, and Gate is 0.0052%.

According to Coinglass data, the current average funding rate for BTC across the network over 8 hours is 0.0009%. Among the current mainstream exchanges, the rate on Binance is 0.0012%, OKX is 0.0037%, Bybit is -0.0024%, and Gate is 0.0068%.

According to Coinglass data, the current 8-hour average funding rate for ETH across the network is 0.0023%. Among the current mainstream exchanges, the rate on Binance is 0.0039%, OKX is 0.0044%, Bybit is 0.0006%, and Gate is -0.0014%.

According to Coinglass data, the current 8-hour average funding rate for BTC across the network is -0%. Among the current mainstream exchanges, the funding rate for Binance is -0.0011%, OKX is 0.0002%, Bybit is -0.0001%, and Gate is 0.002%.

According to Tech Funding News, Impulse Space, a space infrastructure company founded by SpaceX's first employee Tom Mueller, has completed a $500 million Series D funding round, led jointly by 137 Ventures and BANNER VC, with a post-money valuation of $4.26 billion.So far, Impulse Space has raised over $1 billion in total funding. Founded in 2021, Impulse Space primarily addresses the maneuvering issues of spacecraft after launch into orbit. The company builds chemical propulsion spacecraft for rapid trajectory changes, orbital transfers, and in-orbit maneuvers. Its Mira precision maneuvering vehicle has completed multiple missions, and the Helios high-energy upper stage is scheduled for its first flight in 2027, aiming to quickly deliver payloads to GEO, the Moon, and heliocentric orbits.Tom Mueller, who was SpaceX's first employee, led the development of the Merlin engine used in Falcon 9 and the Raptor engine used in Starship. He stated that Impulse Space is not just building spacecraft but is constructing the economic and technological engine that drives humanity into space.

Strategy founder Michael Saylor stated that the capital markets are providing funding for AI infrastructure on an unprecedented scale, with approximately $400 billion raised in the past six months. Saylor pointed out that since May 14, there has been about $4 billion in outflows from Bitcoin ETFs, putting pressure on BTC prices. However, he believes this is a rotation of capital rather than damage to Bitcoin itself. Saylor stated, "Volatility creates opportunity."