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On June 7, DeFi yield protocol PiggyBank announced that approximately a month ago, it invested $100,000 in LAB through over-the-counter trading at a low price, which accounted for 2% of its portfolio at that time. After investing in LAB, the protocol adopted a delta-neutral strategy to establish short positions, but extreme price manipulation and liquidity issues resulted in a continuous negative funding rate, leading to ongoing losses in the short positions. PiggyBank stated that the protocol is preparing to close the short positions to limit losses. Currently, the locked LAB positions in PiggyBank are valued at approximately $1.35 million, but due to insufficient liquidity, the protocol plans to exclude this portion of value from its net asset value, and users may see net asset value losses across various vaults in the short term.

[DeFi Yield Protocol PiggyBank Faces Significant Losses from LAB Investment]On June 7, DeFi yield protocol PiggyBank announced that approximately a month ago, it invested $100,000 in LAB through over-the-counter trading at a low price, which accounted for 2% of its portfolio at that time. After investing in LAB, the protocol adopted a delta-neutral strategy to establish short positions, but extreme price manipulation and liquidity issues resulted in a continuous negative funding rate, leading to ongoing losses in the short positions. PiggyBank stated that the protocol is preparing to close the short positions to limit losses. Currently, the locked LAB positions in PiggyBank are valued at approximately $1.35 million, but due to insufficient liquidity, the protocol plans to exclude this portion of value from its net asset value, and users may see net asset value losses across various vaults in the short term.

DeFi Yield Protocol PiggyBank Faces Significant Losses from LAB Investment

On June 7, Cointelegraph reported that SpaceX's IPO subscription has exceeded twofold.

[SpaceX's IPO Subscription Exceeds Twofold]On June 7, Cointelegraph reported that SpaceX's IPO subscription has exceeded twofold.

SpaceX's IPO Subscription Exceeds Twofold

On June 7, the DeFi yield protocol PiggyBank announced that approximately a month ago, it invested $100,000 in LAB through over-the-counter trading at a low price, accounting for 2% of its portfolio at that time. After investing in LAB, the protocol adopted a delta-neutral strategy to establish short positions; however, extreme price manipulation and liquidity issues led to a sustained negative funding rate, resulting in continuous losses on the short positions. PiggyBank stated that the protocol is prepared to close the short positions to limit losses. Currently, the locked LAB positions in PiggyBank are valued at approximately $1.35 million, but due to insufficient liquidity, the protocol plans to exclude this portion of value from its net asset value, and users may see net asset value losses across various vaults in the short term.

[DeFi Yield Protocol PiggyBank Faces Major Losses from LAB Investment]On June 7, the DeFi yield protocol PiggyBank announced that approximately a month ago, it invested $100,000 in LAB through over-the-counter trading at a low price, accounting for 2% of its portfolio at that time. After investing in LAB, the protocol adopted a delta-neutral strategy to establish short positions; however, extreme price manipulation and liquidity issues led to a sustained negative funding rate, resulting in continuous losses on the short positions. PiggyBank stated that the protocol is prepared to close the short positions to limit losses. Currently, the locked LAB positions in PiggyBank are valued at approximately $1.35 million, but due to insufficient liquidity, the protocol plans to exclude this portion of value from its net asset value, and users may see net asset value losses across various vaults in the short term.

DeFi Yield Protocol PiggyBank Faces Major Losses from LAB Investment

On June 7, according to the Islamic Republic News Agency (IRNA), Iran's First Vice President Arif stated that all senior officials are completely united on Iran's negotiation strategy, dismissing any claims of disagreement regarding the negotiation texts or proposals. Arif noted that Tehran has adopted a clearly coordinated approach in the negotiations. He stated, "Iran has established a clear strategy in the negotiations, and all officials are implementing it in a fully coordinated manner." He also added that there are "no disagreements among officials regarding the negotiation texts and proposals." He was referring to the ongoing indirect negotiations between Iran and the United States, aimed at permanently ending the wars waged against Iran by the U.S. and Israel. Arif also emphasized Iran's experience in dealing with two wars, stating that Iran has gained valuable crisis management experience from them.

[Iran's First Vice President: Officials United on Negotiation Stance]On June 7, according to the Islamic Republic News Agency (IRNA), Iran's First Vice President Arif stated that all senior officials are completely united on Iran's negotiation strategy, dismissing any claims of disagreement regarding the negotiation texts or proposals. Arif noted that Tehran has adopted a clearly coordinated approach in the negotiations. He stated, "Iran has established a clear strategy in the negotiations, and all officials are implementing it in a fully coordinated manner." He also added that there are "no disagreements among officials regarding the negotiation texts and proposals." He was referring to the ongoing indirect negotiations between Iran and the United States, aimed at permanently ending the wars waged against Iran by the U.S. and Israel. Arif also emphasized Iran's experience in dealing with two wars, stating that Iran has gained valuable crisis management experience from them.

Iran's First Vice President: Officials United on Negotiation Stance

On June 7, according to Yonhap News Agency, the Organization for Economic Cooperation and Development (OECD) stated on Sunday that despite the semiconductor industry's boom driving strong export growth in South Korea, the country's potential growth rate is expected to fall to a historic low next year. The OECD's latest data shows that South Korea's potential economic growth rate for 2027 is projected to be 1.52%, a significant decrease from this year's 1.66%. On a quarterly basis, South Korea's potential economic growth rate is expected to further decline to 1.46% by the fourth quarter of next year. If this occurs, it will mark the first time since the OECD began releasing such data that South Korea's projected potential growth rate falls below 1.5%.

[OECD Predicts South Korea's Potential Growth Rate Will Hit Record Low by 2027]On June 7, according to Yonhap News Agency, the Organization for Economic Cooperation and Development (OECD) stated on Sunday that despite the semiconductor industry's boom driving strong export growth in South Korea, the country's potential growth rate is expected to fall to a historic low next year. The OECD's latest data shows that South Korea's potential economic growth rate for 2027 is projected to be 1.52%, a significant decrease from this year's 1.66%. On a quarterly basis, South Korea's potential economic growth rate is expected to further decline to 1.46% by the fourth quarter of next year. If this occurs, it will mark the first time since the OECD began releasing such data that South Korea's projected potential growth rate falls below 1.5%.

OECD Predicts South Korea's Potential Growth Rate Will Hit Record Low by 2027

On June 7, Bull Theory released a market perspective stating that the approximately 2.6% drop in the S&P 500 on Friday triggered market panic. However, looking at the historical data over the past 75 years, this fluctuation does not even rank among the top 200 largest single-day declines. Since 1949, the S&P 500 has experienced numerous significant crashes—such as the 20.47% drop on Black Monday in 1987, an 11.98% plunge during the COVID-19 pandemic in 2020, and a 9.03% fall during the 2008 financial crisis—but each time, the index continued to reach new highs, climbing from several points to over 5,500 points. Friday's pullback is merely a normal 'breather' in a bull market, representing healthy digestion rather than a trend reversal. The S&P 500 has withstood multiple shocks, including the burst of the dot-com bubble, the collapse of Long-Term Capital Management in 1998, the debt ceiling crisis, and Trump's tariffs, without breaking its long-term upward trend due to single-day declines. Last Friday was not the end of the world; the S&P 500 has always 'survived' and moved higher afterward, and we are optimistic about a rebound following Monday's opening.

[Opinion: Single-Day Plunge Has Never Crushed the S&P 500, Expect a Rebound on Monday's Opening]On June 7, Bull Theory released a market perspective stating that the approximately 2.6% drop in the S&P 500 on Friday triggered market panic. However, looking at the historical data over the past 75 years, this fluctuation does not even rank among the top 200 largest single-day declines. Since 1949, the S&P 500 has experienced numerous significant crashes—such as the 20.47% drop on Black Monday in 1987, an 11.98% plunge during the COVID-19 pandemic in 2020, and a 9.03% fall during the 2008 financial crisis—but each time, the index continued to reach new highs, climbing from several points to over 5,500 points. Friday's pullback is merely a normal 'breather' in a bull market, representing healthy digestion rather than a trend reversal. The S&P 500 has withstood multiple shocks, including the burst of the dot-com bubble, the collapse of Long-Term Capital Management in 1998, the debt ceiling crisis, and Trump's tariffs, without breaking its long-term upward trend due to single-day declines. Last Friday was not the end of the world; the S&P 500 has always 'survived' and moved higher afterward, and we are optimistic about a rebound following Monday's opening.

Opinion: Single-Day Plunge Has Never Crushed the S&P 500, Expect a Rebound on Monday's Opening

On June 7, according to the Islamic Republic News Agency (IRNA), Iran's First Vice President Arif stated that all senior officials are completely united on Iran's negotiation strategy, dismissing any claims of disagreements regarding the negotiation texts or proposals. Arif mentioned that Tehran has adopted a clearly coordinated approach in the negotiations. He stated, 'Iran has established a clear strategy in the negotiations, and all officials are implementing it in a fully coordinated manner.' He also added that there are 'no disagreements among officials on the negotiation texts and proposals.' He referred to the ongoing indirect negotiations between Iran and the United States, aimed at permanently ending the wars waged by the U.S. and Israel against Iran. Arif further emphasized Iran's experience in dealing with two wars, stating that Iran has gained valuable crisis management experience from them.

[Iran's First Vice President: Officials United on Negotiation Stance]On June 7, according to the Islamic Republic News Agency (IRNA), Iran's First Vice President Arif stated that all senior officials are completely united on Iran's negotiation strategy, dismissing any claims of disagreements regarding the negotiation texts or proposals. Arif mentioned that Tehran has adopted a clearly coordinated approach in the negotiations. He stated, 'Iran has established a clear strategy in the negotiations, and all officials are implementing it in a fully coordinated manner.' He also added that there are 'no disagreements among officials on the negotiation texts and proposals.' He referred to the ongoing indirect negotiations between Iran and the United States, aimed at permanently ending the wars waged by the U.S. and Israel against Iran. Arif further emphasized Iran's experience in dealing with two wars, stating that Iran has gained valuable crisis management experience from them.

On June 7, Paul Chan, the Financial Secretary of the Hong Kong Special Administrative Region, announced today that the "AI+ and Industry Development Strategy Committee," established as part of the budget proposal, has been successfully formed. The committee comprises experts, scholars, and representatives from business associations, companies, and industrial parks, and will hold its first meeting within this month. Given the broad scope of AI empowerment, the committee will initially focus on health and embodied intelligence, while also exploring strategies for AI applications in various fields, such as transportation, cultural and creative industries, and sustainable development.

[Paul Chan: Hong Kong's AI+ and Industry Development Strategy Committee Formed Successfully]On June 7, Paul Chan, the Financial Secretary of the Hong Kong Special Administrative Region, announced today that the "AI+ and Industry Development Strategy Committee," established as part of the budget proposal, has been successfully formed. The committee comprises experts, scholars, and representatives from business associations, companies, and industrial parks, and will hold its first meeting within this month. Given the broad scope of AI empowerment, the committee will initially focus on health and embodied intelligence, while also exploring strategies for AI applications in various fields, such as transportation, cultural and creative industries, and sustainable development.

Paul Chan: Hong Kong's AI+ and Industry Development Strategy Committee Formed Successfully

On June 7, it was reported that Baidu's MEG (Mobile Ecosystem Group) underwent a new round of organizational adjustments: the Commercial Department and E-commerce Department were merged to form the Large Commercial Department, and the Digital Human Innovation Business Department has also been upgraded to an independent department. (Beijing Business Daily)

[Baidu Establishes Digital Human Innovation Business Department]On June 7, it was reported that Baidu's MEG (Mobile Ecosystem Group) underwent a new round of organizational adjustments: the Commercial Department and E-commerce Department were merged to form the Large Commercial Department, and the Digital Human Innovation Business Department has also been upgraded to an independent department. (Beijing Business Daily)

Baidu Establishes Digital Human Innovation Business Department

On June 3, Santiment released data on social media indicating that Bitcoin fell by 13% over the past week, primarily due to sell-off activities by key stakeholders. Bitcoin whales and sharks (addresses holding 10 to 10,000 BTC) sold off 24,602 Bitcoins (an 18% reduction) in the past week. Meanwhile, small Bitcoin traders (addresses holding less than 0.01 BTC) increased their holdings by 61 Bitcoins (a 12% increase) during the same period.

[Addresses Holding 10 to 10,000 Bitcoins Reduced Holdings by 24,602 Bitcoins Last Week]On June 3, Santiment released data on social media indicating that Bitcoin fell by 13% over the past week, primarily due to sell-off activities by key stakeholders. Bitcoin whales and sharks (addresses holding 10 to 10,000 BTC) sold off 24,602 Bitcoins (an 18% reduction) in the past week. Meanwhile, small Bitcoin traders (addresses holding less than 0.01 BTC) increased their holdings by 61 Bitcoins (a 12% increase) during the same period.

Addresses Holding 10 to 10,000 Bitcoins Reduced Holdings by 24,602 Bitcoins Last Week

A $300 Used Mining Rig Mined a $230,000 Bitcoin Block

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Over $1 Billion in Cryptocurrencies Forced to Liquidate, Bitcoin Plunges 6% Below $67,000

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Bitcoin Whales Most Active In Six Weeks As BTC Drops Under $67,000

Bulls Approach the Ceiling

Article

Bitwise CEO: A New Cycle Has Begun, the Crypto Market is Experiencing 'Renewal' This Year

Analysts Question SpaceX's $1.75 Trillion Valuation: Revenue Needs to Grow Nearly 60 Times in the Next Decade

Addresses Holding 10 to 10,000 Bitcoins Reduced Holdings by 24,602 Bitcoins Last Week

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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