Zach Pandl, Head of Research at Grayscale Research, stated that the market experienced a new wave of volatility following Strategy's disclosure on June 1st of selling 32 Bitcoin. Although the sale is negligible compared to its holdings of approximately 840,000 Bitcoin (worth about $55 billion), this rare reduction move still impacted market sentiment.

Pandl pointed out that the more noteworthy development is the performance of Strategy’s Variable Rate Preferred Stock STRC (Stretch). The product has a design target price of around $100 and currently offers a dividend yield of 11.5%. When the stock price falls below $100, it indicates that investors are demanding a higher rate of return, which may force the company to increase dividend levels. This would increase future cash flow pressure and potentially compel it to sell more Bitcoin for fundraising, further weighing on BTC prices. Strategy's leveraged Bitcoin reserve model is facing challenges. At current STRC and MSTR share price levels, the company's ability to continue large-scale Bitcoin accumulation may be constrained.

However, Pandl noted that in the long term, the migration of Bitcoin holdings from highly leveraged digital asset reserve companies to more diversified corporate balance sheets will help enhance market resilience and improve Bitcoin's long-term value support. He expects Bitcoin to resume its upward trend in the coming months, but its near-term performance may lag behind crypto asset sectors that benefit more directly from regulatory clarity.

Odaily reported that Anthropic posted on X, stating that AI research consists of a series of "next-step" decisions. They selected research sessions where human researchers took a wrong direction, showed Claude the session content up to that point, and asked it to determine the next step. The results showed that Mythos Preview outperformed humans in 64% of cases, up from 22% in 2024.

Odaily reported that OpenAI announced improvements to memory synthesis in ChatGPT to optimize freshness, continuity, and relevance. The update is being rolled out to Plus and Pro users in the United States today, and will be extended to other countries as well as free and Go users in the coming weeks. (Jin10)

Odaily reported that 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)

Odaily Planet Daily News: According to market sources this evening, a recent report by SemiAnalysis stated that "NVIDIA's next-generation AI server cluster, Rubin NVL72, has made significant adjustments to its memory configuration. To address supply chain constraints and ensure timely delivery of the Rubin racks, the memory capacity per rack has been drastically reduced from the original plan of 55TB to 28TB, a cut of approximately 50%. This involves using a scaled-down 96GB SOCAMM memory module instead of the previously planned 192GB high-end module." Following this news, memory-related stocks including Micron and SK Hynix came under pressure and declined.

In response, SemiAnalysis founder, CEO, and Chief Analyst Dylan Patel (@dylan522p) stated, "I love it when people share what we say while missing most of the content in the note. Our original report did not use this clickbait-style headline."

Odaily reported that "new stock god" Serenity posted on X platform, stating that its number of X platform subscribers exceeded 47,000, surpassing Musk to claim the top spot. Serenity is a highly influential veteran trader on the WallStreetBets (WSB) subreddit. All core research findings are consistently made public for free, with the research framework focused on the key supporting links within the NVIDIA AI chip supply chain. By thoroughly analyzing the indispensable "screw" type components in the chip manufacturing and packaging process, Serenity precisely identifies critical bottleneck points (Chokepoints) in the supply chain, and accordingly uncovers upstream targets with scarcity and pricing power for strategic positioning.

Odaily reported that 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.

Odaily Planet Daily News: The U.S. Department of Justice launched "Disruption Week," partnering with tech companies including Coinbase, SpaceX, Meta, and Apple to freeze over $3.8 million in stolen crypto assets, targeting organized crypto fraud originating from Southeast Asia.

During this operation, the government and private enterprises shared information, successfully disrupting over 1.4 million social media and email accounts and assisting in the arrest of seven fraud suspects. The DOJ stated that this demonstrates the power of collaboration between the public and private sectors in preventing more American citizens from falling victim.

FBI data shows that in 2025, crypto fraud losses in the United States reached nearly $11.4 billion, a 22% increase year-over-year. Previously, companies like Coinbase, Kraken, and Binance also assisted in freezing $12 million in fraud-related funds. (Decrypt)

Odaily reports that U.S. Senator Cynthia Lummis, along with several Senate Republicans, is urging financial regulators to repeal the Basel Committee's 1250% punitive risk weight on digital assets and establish a new capital framework that would allow banks to participate in the crypto asset market. (CoinDesk)

Odaily Odaily Planet Daily: Institutional-grade digital asset data and software provider Lukka has announced the acquisition of data traceability and compliance platform PEER DATA. The specific acquisition amount has not been disclosed yet. Upon completion of the transaction, both parties will provide financial institutions with a control layer covering digital assets and broader data assets, offering unified support for pricing, classification, provenance proof, licensing, and governance. This will continuously expand to scenarios such as on-chain assets and AI data consumption. (PRNewswire)

Odaily, ARK Invest Director of Digital Asset Research Lorenzo Valente posted on X, stating that the crypto space now has a "graveyard" that no one wants to walk into, but it is filled with overlooked, high-quality protocols. Their token prices have fallen 70%, 80%, or even 90% from all-time highs, yet they still generate fees, continue to grow, and maintain leadership in their respective fields — they just lack attention. He gave examples:

Aave: P/E ratio of only 9x

Solana: P/E ratio of 12x, holding $6 billion in free cash flow

Ethereum: P/E ratio of 17x, yet treated as a "has-been asset"

Uniswap: EBITDA of 8x, chain influence covering approximately 2 billion users

Avalanche (AVAX): Trading below the liquidation value of its own treasury

Valente noted that many protocols were venture capital favorites in 2021 but are now market orphans. Compared to chasing the currently trendy Hype and Near, greater opportunities lie in finding value among assets that have fallen into "rubble territory." He emphasized: "You don't get rich by buying the assets everyone loves; you get rich by buying assets that are temporarily out of favor but have solid fundamentals."

Odaily reported that according to Lookonchain monitoring, a dormant address received 10,000 ETH an hour ago after being inactive for 3 years, and subsequently sold it at an average price of $1,772, receiving 17.72 million USDC.

Odaily Planet Daily News: According to Onchain Lens monitoring, a whale closed its HYPE long position at a loss of $2.047 million and opened a short position of 682 BTC with 40x leverage. The floating loss has now exceeded $680,000.

Odaily: U.S. Treasury Secretary Bessent says the conflict with Iran has been "paused." (Jin10)

Odaily reports that the International Monetary Fund stated the expected timeline for the Federal Reserve's 2% inflation target return has been pushed back to the end of 2027, compared to a previous forecast of mid-2027. The market has already begun betting on a rate hike. Due to persistently rising inflation risks, the Fed should act cautiously on interest rate policy. The IMF has observed some inflationary pass-through effects resulting from the US tariff increases, along with renewed upward pressure on overall inflation from energy prices. Global oil inventories are projected to fall to 7.5 billion barrels in July, the lowest level in five years; levels were around 8 billion barrels before the outbreak of the Iran war, which has suppressed approximately 14 million barrels per day of global oil output. Future oil price trends will depend on whether the Strait of Hormuz can be reopened. (Jin Shi)