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On June 11, U.S. Treasury Secretary Janet Yellen stated that any harm to Gulf allies will be paid for by Iranian funds. Iran will lose the zero-sum game it is currently engaged in. If necessary, the U.S. will withdraw funds from Iranian accounts.

[U.S. Treasury Secretary: U.S. Will Withdraw Funds from Iranian Accounts if Necessary]On June 11, U.S. Treasury Secretary Janet Yellen stated that any harm to Gulf allies will be paid for by Iranian funds. Iran will lose the zero-sum game it is currently engaged in. If necessary, the U.S. will withdraw funds from Iranian accounts.

U.S. Treasury Secretary: U.S. Will Withdraw Funds from Iranian Accounts if Necessary

On June 11, it was reported that the U.S. Producer Price Index (PPI) for May increased by 6.5% year-on-year, compared to an estimate of 6.4% and a previous value of 6%. Month-on-month, it rose by 1.1%, exceeding the forecast of 0.7% and down from the previous value of 1.4%.

[U.S. May PPI Increases 6.5% Year-on-Year, Exceeding Market Expectations]On June 11, it was reported that the U.S. Producer Price Index (PPI) for May increased by 6.5% year-on-year, compared to an estimate of 6.4% and a previous value of 6%. Month-on-month, it rose by 1.1%, exceeding the forecast of 0.7% and down from the previous value of 1.4%.

U.S. May PPI Increases 6.5% Year-on-Year, Exceeding Market Expectations

As of June 11, the number of initial jobless claims in the U.S. for the week ending June 6 was 229,000, compared to an expected 219,000 and a previous value of 225,000. (Jin Shi)

[U.S. Initial Jobless Claims at 229,000 for Week Ending June 6, Expected 219,000]As of June 11, the number of initial jobless claims in the U.S. for the week ending June 6 was 229,000, compared to an expected 219,000 and a previous value of 225,000. (Jin Shi)

U.S. Initial Jobless Claims at 229,000 for Week Ending June 6, Expected 219,000

On June 11, foreign media reported that on Thursday, the European Central Bank (ECB) raised interest rates by 25 basis points, a move that may signal similar actions from the Federal Reserve and other central banks in response to rising inflation pressures. The ECB had not raised rates since September 2023. However, due to the war in Iran, the inflation rate in the Eurozone rose to 3.2% in May, prompting the ECB to address price pressures. Citigroup analyst Arnaud Marais stated, "The real focus of this week's meeting is on communication that may reveal future policy directions." He anticipates that the ECB will raise rates again at its next meeting in July. The ECB's rate hike decision may provide insights into the trajectory of the U.S. market, with expectations that the Fed has a 66% probability of raising rates at least once before the end of this year.

[ECB Raises Interest Rates to Curb Inflation, Fed May Follow Suit]On June 11, foreign media reported that on Thursday, the European Central Bank (ECB) raised interest rates by 25 basis points, a move that may signal similar actions from the Federal Reserve and other central banks in response to rising inflation pressures. The ECB had not raised rates since September 2023. However, due to the war in Iran, the inflation rate in the Eurozone rose to 3.2% in May, prompting the ECB to address price pressures. Citigroup analyst Arnaud Marais stated, "The real focus of this week's meeting is on communication that may reveal future policy directions." He anticipates that the ECB will raise rates again at its next meeting in July. The ECB's rate hike decision may provide insights into the trajectory of the U.S. market, with expectations that the Fed has a 66% probability of raising rates at least once before the end of this year.

ECB Raises Interest Rates to Curb Inflation, Fed May Follow Suit

On June 11, it was reported that SpaceX's initial public offering (IPO) attracted over $70 billion in retail orders. SpaceX will allocate at least 20% of the IPO shares to retail investors. Less than 10% of the IPO shares will be allocated to international orders.

[SpaceX's IPO Attracts Over $70 Billion in Retail Orders]On June 11, it was reported that SpaceX's initial public offering (IPO) attracted over $70 billion in retail orders. SpaceX will allocate at least 20% of the IPO shares to retail investors. Less than 10% of the IPO shares will be allocated to international orders.

SpaceX's IPO Attracts Over $70 Billion in Retail Orders

a16z Crypto published an analysis on the reasons for investing in Digital Asset, stating that the three main barriers to institutional adoption of cryptocurrency technology in the past included blockchain performance, regulatory uncertainty, and privacy issues. Currently, the blockchain performance issue has been largely resolved, with L1 and L2 networks now capable of meeting the scale, speed, and complexity required by institutions. The U.S. GENIUS Act has also come into effect to address regulatory concerns. a16z Crypto believes that traditional public blockchains default to public transaction information, which facilitates verification but does not meet the needs of institutional financial transactions that require selective disclosure, compliance, and multi-party collaboration. For instance, when banks engage in government bond or repurchase transactions, both parties need to share information without exposing their holdings, counterparties, and transaction sizes to all network participants. Therefore, privacy remains a core challenge for institutions entering the blockchain space. Most blockchain projects attempt to adapt institutions to the cryptocurrency system, while Digital Asset chooses to adapt cryptocurrency technology to institutional needs, with mature privacy technologies becoming a key breakthrough to attract institutional entry.

[a16z Crypto Analyzes Investment in Digital Asset: Privacy as a Key Breakthrough for Institutional Entry]a16z Crypto published an analysis on the reasons for investing in Digital Asset, stating that the three main barriers to institutional adoption of cryptocurrency technology in the past included blockchain performance, regulatory uncertainty, and privacy issues. Currently, the blockchain performance issue has been largely resolved, with L1 and L2 networks now capable of meeting the scale, speed, and complexity required by institutions. The U.S. GENIUS Act has also come into effect to address regulatory concerns. a16z Crypto believes that traditional public blockchains default to public transaction information, which facilitates verification but does not meet the needs of institutional financial transactions that require selective disclosure, compliance, and multi-party collaboration. For instance, when banks engage in government bond or repurchase transactions, both parties need to share information without exposing their holdings, counterparties, and transaction sizes to all network participants. Therefore, privacy remains a core challenge for institutions entering the blockchain space. Most blockchain projects attempt to adapt institutions to the cryptocurrency system, while Digital Asset chooses to adapt cryptocurrency technology to institutional needs, with mature privacy technologies becoming a key breakthrough to attract institutional entry.

a16z Crypto Analyzes Investment in Digital Asset: Privacy as a Key Breakthrough for Institutional Entry

On June 11, it was reported that the number of initial unemployment claims in the United States reached 229,000 last week, compared to an estimate of 220,000 and a previous value of 225,000.

[Initial Unemployment Claims in the U.S. Reach 229,000 Last Week]On June 11, it was reported that the number of initial unemployment claims in the United States reached 229,000 last week, compared to an estimate of 220,000 and a previous value of 225,000.

Initial Unemployment Claims in the U.S. Reach 229,000 Last Week

On June 11, the yield on the 10-year U.S. Treasury bond decreased by 0.8 basis points, standing at 4.532%.

[10-Year U.S. Treasury Yield Falls 0.8 Basis Points]On June 11, the yield on the 10-year U.S. Treasury bond decreased by 0.8 basis points, standing at 4.532%.

10-Year U.S. Treasury Yield Falls 0.8 Basis Points

Spot gold has decreased by $20 in the short term, now reported at $4069.45 per ounce.

[Spot Gold Drops $20 to $4069.45 per Ounce]Spot gold has decreased by $20 in the short term, now reported at $4069.45 per ounce.

Spot Gold Drops $20 to $4069.45 per Ounce

After nearly two decades in the music industry, Singaporean pop star JJ Lin is collaborating with two next-generation tycoons to cofound ARC, an app-based digital community that authenticates member profiles with non-fungible tokens (NFTs).
“What’s best about ARC is the growth mindset of learning and shaping ideas together,” Lin added in a statement. ARC claims that the musician is one of the first Asian celebrities to be closely involved with a Web3 project like itself. “I’m looking forward to unveiling the next Asian creative venture to the world,” he added.
The musician’s cofounders Lim, 29, and Cheo, 37, launched ARC in January as an extension of their professional backgrounds. Lim’s previous entrepreneurial experience includes working with his father to launch ZujuGP, a digital community built around soccer endorsed by Portuguese soccer star Cristiano Ronaldo. Cheo dabbled in cryptocurrencies and NFTs, and became a self-taught Web3 expert.
“We are really proud to be ‘Web2.5’ ... we want to foster adoption from people who are not crypto natives.”
Rather than replace Web2 with Web3, ARC aims to bridge the two, according to Lim.

Detail

【Pop star JJ Lin joins Singaporean scions to build ‘Web2.5’ NFT community】After nearly two decades in the music industry, Singaporean pop star JJ Lin is collaborating with two next-generation tycoons to cofound ARC, an app-based digital community that authenticates member profiles with non-fungible tokens (NFTs).
“What’s best about ARC is the growth mindset of learning and shaping ideas together,” Lin added in a statement. ARC claims that the musician is one of the first Asian celebrities to be closely involved with a Web3 project like itself. “I’m looking forward to unveiling the next Asian creative venture to the world,” he added.
The musician’s cofounders Lim, 29, and Cheo, 37, launched ARC in January as an extension of their professional backgrounds. Lim’s previous entrepreneurial experience includes working with his father to launch ZujuGP, a digital community built around soccer endorsed by Portuguese soccer star Cristiano Ronaldo. Cheo dabbled in cryptocurrencies and NFTs, and became a self-taught Web3 expert.
“We are really proud to be ‘Web2.5’ ... we want to foster adoption from people who are not crypto natives.”
Rather than replace Web2 with Web3, ARC aims to bridge the two, according to Lim.

Pop star JJ Lin joins Singaporean scions to build ‘Web2.5’ NFT community

Is Cardano Over? Charles Hoskinson Warns Of A “Wave Of Failures” — And His Own Community Is Furious

How Much Debt Does Strategy Really Have? Is There a Risk of Implosion?

Privacy Coin Crisis of Confidence! ZEC Plunges Over 56% in a Single Day

Zcash Bug Could Have Minted Unlimited ZEC Undetected

Nasdaq Plummets 4% Overnight, $1.3 Trillion Evaporated, U.S. Stocks Suffer Triple Blow

Worldcoin Falls Terribly as Arthur Hayes Dumps WLD

Want In On SpaceX? Kraken Unveils Early IPO Access Via xStocks

South Korea's KOSPI Plunges 8.37% at Opening, Triggers Circuit Breaker: The 'Two Stocks' That Powered the Bull Market Recoil in a Single Day

Humanity Loses $31 Million in Attack, Token Price Plummets 90% Due to a Single Private Key

Over $31 Million Stolen from Humanity, Is the Team Behind It Paving the Way for a New Project?

Article

BTC breaks through 62000 USDT

Pop star JJ Lin joins Singaporean scions to build ‘Web2.5’ NFT community

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