Morning Post | BitMine Purchased 126,971 ETH Last Week; Trader Eugene Announces Exit from Crypto Market

链捕手Published on 2026-06-09Last updated on 2026-06-09

Abstract

ChainCatcher Daily: Key developments include prominent trader Eugene announcing his exit from crypto markets, citing better opportunities in traditional stocks. In security news, the Syscoin cross-chain bridge was hacked, involving approximately 5 billion SYS, leading to a suspension of its bridging services. On the institutional front, BitMine significantly increased its ETH holdings by 126,971 last week, bringing its total to 5.54 million ETH (4.59% of supply). Conversely, Bitcoin treasury company Strategy purchased an additional 1,550 BTC for $101.3 million. Other notable updates: AI company Moonshot AI is seeking up to $2B in new funding targeting a $30B valuation, digital bank Revolut is planning a secondary share sale at a ~$115B valuation, and a Strategy proposal was approved to change STRC dividend payments from monthly to bi-monthly. In legal news, FTX founder Sam Bankman-Fried has formally applied for a presidential pardon. The report also includes 24-hour trending meme tokens on Ethereum, Solana, and Base networks, and features articles discussing market "tail-end" rallies and the growing scarcity and value capture of AI inference compute.

Compiled by: ChainCatcher


Important News:

  • Trader Eugene Announces Exit from Crypto Market, Claims Stock Opportunities Far Exceed Crypto
  • Syscoin Cross-Chain Bridge Attacked, Involving Approximately 5 Billion SYS, Bridging Service Suspended
  • Moonshot AI Seeks New Round of Funding Up to $20 Billion, Valuation Target at $300 Billion
  • BitMine Purchased 126,971 ETH Last Week, Total Holdings Increase to 5.5438 Million
  • Revolut Plans to Proceed with Secondary Share Sale at $115 Billion Valuation
  • Strategy Proposal Approved: STRC Dividend Payouts Changed to Semi-Monthly, First Payment Date is July 15th

What important events happened in the past 24 hours?

Strategy Proposal Approved: STRC Dividend Payouts Changed to Semi-Monthly, First Payment Date is July 15th

ChainCatcher News, Michael Saylor, founder and executive chairman of bitcoin treasury company Strategy, posted that STRC and MSTR shareholders have approved changing the STRC dividend payout frequency from monthly to semi-monthly. Under the new arrangement, the first record date is June 30, and the first payment date is July 15.

Bloomberg: SBF Officially Applies for Trump Pardon

ChainCatcher news, according to Bloomberg, FTX founder Sam Bankman-Fried has officially submitted a presidential pardon application through the formal process. SBF is currently serving a 25-year sentence, and his family has been lobbying the Trump administration for months.

Trump explicitly stated in January this year that he had no intention of pardoning SBF. Several pro-crypto Republican congressmen have also actively opposed the move, considering it politically extremely sensitive.

Revolut Plans to Proceed with Secondary Share Sale at $115 Billion Valuation

ChainCatcher news, according to Bloomberg, digital bank Revolut is planning a secondary share sale transaction at a valuation of approximately $115 billion, allowing early investors and employees to cash out. The formal process could start as early as this month, but details are still being discussed.

Sources indicate that Revolut Chairman Martin Gilbert is meeting with potential investors during the Monaco Grand Prix. If this valuation is achieved, CEO Nik Storonsky will be granted additional shares, potentially raising the value of his holdings to at least $36 billion.

Revolut has primarily introduced new investors through secondary transactions in recent years. In November last year, it arranged employee share sales at a $75 billion valuation, with participants including Coatue, a16z, and Nvidia's venture capital arm.

BitMine Purchased 126,971 ETH Last Week, Total Holdings Increase to 5.5438 Million

ChainCatcher news, according to a PR Newswire report, Bitmine's announcement shows that as of June 7, 2026, the company held 5,543,872 ETH, accounting for approximately 4.59% of Ethereum's total supply of 120.7 million, achieving 92% of its "Alchemy of 5%" goal. Over the past week, BitMine purchased 126,971 ETH, marking its largest single-week buying spree recently.

BitMine Chairman Thomas Lee stated that the company's average weekly purchase volume was previously around 26,000 ETH. The significant increase this week is primarily because they believe the current ETH price correction does not reflect the continuous improvement in Ethereum's fundamentals, as well as the long-term positive impact of Wall Street asset tokenization and the growing demand for AI agent systems on open blockchains.

As of now, the total value of BitMine's crypto assets, cash, and other investments is approximately $9.6 billion, including $247 million in cash, 204 BTC, $180 million in Beast Industries equity, and an $88 million investment in Eightco Holdings Inc.

Of this, 4,718,677 ETH have been staked, accounting for over 85% of total holdings. Valued at approximately $7.7 billion at current prices, the estimated annualized staking yield is about $230 million. BitMine stated that it has become the world's largest corporate-level Ethereum reserve institution, second only to Strategy Inc.'s Bitcoin reserve scale. It expects to achieve its strategic goal of holding 5% of ETH's total supply within 2026.

Strategy Spent $101.3 Million Last Week to Acquire 1550 Bitcoins

ChainCatcher news, according to Strategy's 8-K filing with the U.S. SEC, the company purchased 1550 Bitcoins from June 1 to 7, 2026, at an average price of approximately $65,332 each, totaling about $101.3 million. The funds were sourced from proceeds of the MSTR stock ATM program.

As of June 7, 2026, Strategy cumulatively holds 845,256 Bitcoins, with a total acquisition cost of approximately $63.97 billion and an average cost of about $75,680 per Bitcoin.

Meme Hot List

According to data from the meme token tracking and analysis platform GMGN, as of 09:00 on June 9,

Top 5 popular tokens on ETH in the past 24h: HEX, SHIB, LINK, PEPE, mUSD

Top 5 popular tokens on Solana in the past 24h: TROLL, WORLDCUP, neet, Buttcoin, PBTC

Top 5 popular tokens on Base in the past 24h: toby, ELSA, SKI, cbETH, CYPR

What are some interesting articles worth reading from the past 24 hours?

Time to Exit? The Principle of the Tail End of a Bull Market in Stocks

The so-called "fish tail market" originates from Livermore's analogy. Livermore's famous quote is:

"The last eighth of a point is the most expensive."

This warns traders not to blindly guess the top. Later, people compared it to the three parts of a fish: the head, the body, and the tail. The profit from the tail often comes with huge danger, cautioning everyone not to blindly follow the trend.

However, as the market continues to develop, there have been more and more "fish tail markets" recently, which are sharp rallies in the tail end. The gains in such markets are often astonishingly high, far more than just "the last eighth of a point." So, what is the development principle behind fish tail markets? And how does a stock market reach its peak? Today, we revisit Rockefeller's fable.

When Inference Becomes a Scarce Resource, Who Captures the Value?

The gap proposed by David Cahn in 2023 was never filled on the training side. It was filled on the inference side, and the market only began to price it in over the past few weeks. As Nvidia restructured its financial reporting around "service tokens" and Cerebras' IPO received 20 times oversubscription, the bottleneck debate is over. The real question becomes the next one: When inference becomes a scarce resource, which layer of the compute stack will the value settle in.

Related Questions

QWhat significant action did BitMine take regarding ETH last week, and what is their strategic goal?

ALast week, BitMine purchased an additional 126,971 ETH, its largest single-week buying effort recently. This brought its total holdings to 5,543,872 ETH, representing approximately 4.59% of the total Ethereum supply. Their strategic goal, dubbed 'Alchemy of 5%', is to hold 5% of the total ETH supply, which they are currently 92% towards achieving.

QAccording to the article, why did trader Eugene announce his exit from the cryptocurrency market?

ATrader Eugene announced his exit from the cryptocurrency market, stating that he believes stock opportunities far surpass those in crypto.

QWhat major incident was reported involving Syscoin, and what was the response?

AThe Syscoin cross-chain bridge was reportedly attacked, involving approximately 5 billion SYS tokens. In response, the bridging services have been suspended.

QWhat change was approved for STRC's dividend payments, and when is the first payment under the new schedule?

AA proposal was approved to change the frequency of STRC dividend payments from monthly to semi-monthly. The first payment under this new arrangement is scheduled for July 15th, with a record date of June 30th.

QWhat was the status of Sam Bankman-Fried's (SBF) request for a pardon as reported in the article?

AAccording to the article, FTX founder Sam Bankman-Fried has officially submitted a request for a presidential pardon. He is currently serving a 25-year sentence. However, former President Trump had previously indicated in January that he had no intention of pardoning SBF.

Related Reads

Humanity Loses $31 Million, a Private Key Causes Token Price to Plunge 90%

On June 9th, the digital identity project Humanity Protocol suffered a major security breach resulting in over $31 million stolen from hundreds of wallets holding its H token. The attack was caused by the compromise of a private key belonging to a foundation member, leading the team to advise users against interacting with its bridge or liquidity pools. Following the incident, the price of the H token plummeted by over 90%, from around $0.70 to a low of $0.052, wiping out a significant portion of its market capitalization. The attacker allegedly minted 100 million new H tokens and began selling them for BNB. Humanity Protocol, founded in 2024, aimed to verify human users through palm-print biometrics and zero-knowledge proofs on Polygon CDK. Despite raising $50 million across two funding rounds and achieving a unicorn valuation, the project faced prior controversies. Shortly after its June 2025 token launch, reports emerged that only about 1 million of its 9 million registered IDs had completed biometric verification, suggesting 88% might be bots. Furthermore, allegations surfaced that the project might be a rebranded "shell" of a Chinese access control company, raising concerns about data privacy and authenticity. The project's founder, Terence Kwok, has a controversial business history. His previous venture, Tink Labs, burned through $170 million in funding before collapsing in 2020. The breach highlights the persistent critical risk of private key management in crypto. With no user compensation plan detailed in the initial response, the incident deals a severe blow to trust in a project already struggling with credibility issues.

Foresight News10m ago

Humanity Loses $31 Million, a Private Key Causes Token Price to Plunge 90%

Foresight News10m ago

How to Conduct Deep Research Using Claude's Dynamic Workflows

The article "How to Use Claude's Dynamic Workflows for Deep Research" discusses overcoming the pitfalls of technical research, where both humans and AI can get overwhelmed by information, leading to vague conclusions. It introduces Claude Code's new "Dynamic Workflows" feature, which automatically designs and executes task-specific workflows before starting a task, unlike simpler "planning modes." This approach incorporates validation, result convergence, and adversarial verification from the outset. The core of Dynamic Workflows is six predefined scheduling patterns that address how to decompose tasks and synthesize results: 1. **Classify-and-Act (Routing):** An agent classifies the task and routes it to the most suitable specialist agent for execution. It's precise and efficient but struggles with ambiguous tasks. 2. **Fan-out & Merge:** The task is split into parallel, independent subtasks whose results are later merged. It's fast and isolates contexts but is more expensive and challenging to synthesize. 3. **Adversarial Verification:** Multiple "challenger" agents critique a worker agent's conclusion, requiring majority approval. This counters confirmation bias and self-assessment errors but relies on verifiable facts. 4. **Generate & Filter:** Multiple agents generate many candidate solutions, which are then filtered against a rubric to output only the best. It fosters diversity but depends heavily on the filter's quality. 5. **Tournament:** Multiple agents compete on the same task, with pairwise comparisons eliminating contestants over rounds to select the best. This offers stable relative judgment but is complex. 6. **Loop:** An agent iteratively attempts a task, learning from errors and adjusting until a stop condition is met. It handles tasks with unknown scope but risks infinite loops without proper design. The author compares their own custom deep-research system, which involved multi-agent analysis and deduplication but lacked goal-oriented convergence, to Claude's built-in workflow. The official workflow adds critical layers: initial problem decomposition, credibility assessment of sources, cross-agent voting to delete weak conclusions (not just averaging), and output tightly focused on the user's original goals and actionable recommendations. This structurally addresses common AI issues like goal drift, premature stopping, context pollution, and output bias. In summary, Dynamic Workflows represent a shift from smarter single conversations to a structured research process, compressing what used to require many dialogues into 3-4 interactions, albeit at higher token cost. The author notes remaining challenges for their specific domain (blockchain research): the need for fact-based verification over official documentation, depth in truly novel interdisciplinary thinking, the practical validation of proposed solutions, and tailoring information density to the audience.

marsbit20m ago

How to Conduct Deep Research Using Claude's Dynamic Workflows

marsbit20m ago

When LPs Teach Me Investment with Doubao: A Self-Narrative of a Private Equity GP Switching Careers

When LPs Use Doubao to Teach Investing: A Transition Story of a Private Equity GP AI is making life increasingly difficult for small private equity fund managers, as a former GP of an offshore dollar fund reveals. The fund, managing tens of millions in US stocks, outperformed the Nasdaq but struggled with fundraising. Its traditional Cayman SPC/BVI structure failed to attract major Asian LPs, who now prefer Hong Kong LPF or Singapore VCC frameworks. The rise of AI-powered quantitative strategies has further squeezed the space for funds like his, which relied on subjective, discretionary investing. AI tools have leveled the information playing field, empowering LPs—often high-net-worth individuals, entrepreneurs, or family offices—to analyze investments themselves using chatbots like Doubao. This has eroded trust in GPs' expertise, leading to more frequent challenges over investment decisions and even withdrawals, especially during market rallies when retail investors sometimes outperform funds. Friction arises not necessarily from AI's capabilities but from how LPs use it. Many rely on conversational AI for validation rather than rigorous analysis, sometimes receiving misleading or hallucinated advice. While AI democratizes research, effective investing still requires discerning real insight from plausible-sounding output. Ultimately, AI is unlikely to fully replace GPs. Asset management remains a trust-based service. However, the industry must adapt. The future may see "human私募" (private equity) learning from AI and focusing more on providing value beyond pure analysis—perhaps by mastering the emotional intelligence and trust-building that machines cannot replicate.

Odaily星球日报48m ago

When LPs Teach Me Investment with Doubao: A Self-Narrative of a Private Equity GP Switching Careers

Odaily星球日报48m ago

AI Leads to Layoffs? Research Shows AI Is More Expensive Than the People It Replaces

Title: AI Layoffs? Research Shows AI is More Expensive Than the Workers It Replaces. This year, nearly 50,000 employees have been laid off due to AI, with companies initially believing AI could replace human jobs. However, recent findings indicate that the actual operational costs of AI often exceed the expense of the human labor it was meant to replace. Examples include Uber exhausting its annual AI budget in just four months, Microsoft cutting Claude Code licenses due to high costs, and an Anthropic employee incurring $150,000 in API usage in a single month. A CloudZero survey reveals that 45% of enterprises spend over $100,000 monthly on AI, yet only 8% of S&P 500 companies report any AI-related revenue, and half struggle to measure ROI. Analyst Scott Galloway predicts a shift toward cheaper Chinese AI models, which are 10 to 30 times more affordable than American counterparts. Data shows Chinese models' usage among developers surged from 1% in 2024 to over 60% by mid-2026, with 80% of U.S. AI startups adopting them. This trend may prompt regulatory responses, such as potential restrictions from the Trump administration.

marsbit1h ago

AI Leads to Layoffs? Research Shows AI Is More Expensive Than the People It Replaces

marsbit1h ago

Wang Chuan: After Investing in Storage Stocks and Seeing a Thirty-Fold Return, How to Remain Unanxious (Part 7) - A Quarter-Century Cycle

Wang Chuan: Reflections on Investment Anxiety and Market Cycles After Observing a 30x Gain in a Storage Stock (Part 7) – A Quarter-Century Cycle This article examines the cyclical nature and inherent risks in technology hardware investments, using the storage and semiconductor sectors as examples. It criticizes the misleading practice of "annualized" Net Dollar Retention (NDR) rates, where short-term growth is extrapolated unrealistically. A key concept explored is "reflexivity" – demand driven by panic, exploration, and liquidity during market booms, which can vanish just as quickly when conditions reverse. This reflexivity exists both in product demand and among speculative stock buyers, creating powerful feedback loops that inflate prices during upturns and exacerbate crashes during downturns. The author highlights a major risk for hardware sectors: unlike assets with defined cycles (e.g., Bitcoin's halving), there's no guarantee of a swift recovery post-crash. Companies like Micron, Intel, and Cisco took roughly a quarter-century to surpass their 2000 highs, enduring drawdowns exceeding 80%. This is attributed to the "bullwhip effect" in supply chains, where demand collapses instantly but过剩产能 persists, and a migration of narrative-driven capital. High-valuation stories吸引 speculative funds during growth phases, but these funds quickly depart for the next hot narrative once growth slows, leaving behind stronger companies with much lower valuations. The piece warns of dangerous mental models formed during bull markets: 1) equating current strong demand with perpetual high growth, and 2) believing that making fast, large profits is easy. Citing巴菲特, the author notes that easy money undermines rationality, likening speculators to Cinderella at a ball with a clock that has no hands. The current phase presents an asymmetric risk-reward scenario: potential for further gains exists, but the downside risk is an 80%+ drawdown and a multi-decade wait for breakeven, which reflexive speculators cannot tolerate. The hypothetical investor "老王" (Lao Wang), who achieved a 30x return, is used to illustrate potential pitfalls. Leverage could lead to a wipeout during a sharp correction. Even without leverage, ingrained beliefs in easy money would likely lead him to double down after losses, expecting a quick rebound. Instead, he might face a protracted decline, depleting his resources through frantic trading as the high-growth narrative fades. The conclusion references Schopenhauer, comparing those who have seen multiple market cycles to an audience seeing the same magic trick repeatedly—once the illusion is understood, its power is gone.

marsbit1h ago

Wang Chuan: After Investing in Storage Stocks and Seeing a Thirty-Fold Return, How to Remain Unanxious (Part 7) - A Quarter-Century Cycle

marsbit1h ago

Trading

Spot
Futures

Hot Articles

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of ETH (ETH) are presented below.

活动图片

Top Questions