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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

U.S. and Brent crude oil prices have risen by approximately $2, currently reported at $90.92 per barrel and $92.84 per barrel, respectively. In related news, U.S. President Trump stated that the U.S. will take strong measures against Iran tonight. The U.S. will seize Khark Island and will fully control Iran's oil and gas market.

[U.S. and Brent Crude Oil Prices Rise by Approximately $2]U.S. and Brent crude oil prices have risen by approximately $2, currently reported at $90.92 per barrel and $92.84 per barrel, respectively. In related news, U.S. President Trump stated that the U.S. will take strong measures against Iran tonight. The U.S. will seize Khark Island and will fully control Iran's oil and gas market.

U.S. and Brent Crude Oil Prices Rise by Approximately $2

On June 11, President Trump stated that the United States will take strong measures against Iran tonight. The U.S. will seize Khark Island and will have complete control over Iran's oil and gas market. (Jinshi)

[Trump: The U.S. Will Take Strong Measures Against Iran Tonight]On June 11, President Trump stated that the United States will take strong measures against Iran tonight. The U.S. will seize Khark Island and will have complete control over Iran's oil and gas market. (Jinshi)

Trump: The U.S. Will Take Strong Measures Against Iran Tonight

On June 11, the European Central Bank stated that it will closely monitor the situation and adopt a data-dependent and meeting-by-meeting approach to determine the appropriate monetary policy stance. There is no pre-commitment to a specific interest rate path. The ongoing conflict in the Middle East is generating inflationary pressures. Through today's decision, the Governing Council remains well-positioned to respond to the uncertainties brought about by the war. In various scenarios, the decision to raise interest rates is robust in addressing the evolution of shocks and their impact on the medium-term outlook for the Eurozone. The outlook remains uncertain, with inflation risks skewed to the upside and economic growth facing downside risks. This uncertainty is also reflected in the latest illustrative scenarios prepared by the staff of the Eurosystem, where the ranges for inflation and growth outcomes are wide.

[ECB: Inflation Risks Upward, Economic Growth Faces Downward Risks]On June 11, the European Central Bank stated that it will closely monitor the situation and adopt a data-dependent and meeting-by-meeting approach to determine the appropriate monetary policy stance. There is no pre-commitment to a specific interest rate path. The ongoing conflict in the Middle East is generating inflationary pressures. Through today's decision, the Governing Council remains well-positioned to respond to the uncertainties brought about by the war. In various scenarios, the decision to raise interest rates is robust in addressing the evolution of shocks and their impact on the medium-term outlook for the Eurozone. The outlook remains uncertain, with inflation risks skewed to the upside and economic growth facing downside risks. This uncertainty is also reflected in the latest illustrative scenarios prepared by the staff of the Eurosystem, where the ranges for inflation and growth outcomes are wide.

ECB: Inflation Risks Upward, Economic Growth Faces Downward Risks

On June 11, CNBC reported that Wall Street generally believes the stock market can absorb the additional stock supply from the SpaceX IPO, but investors remain concerned about the volatility brought by more large AI-related IPOs and funding waves that may follow. According to Gavekal Research, approximately $1.7 trillion in stocks is expected to be issued by S&P 500 companies over the 12 months ending September 2025, averaging about $140 billion per month. The firm estimates that SpaceX's anticipated fundraising size of $75 billion is only slightly more than the shareholder dividend size for just over two weeks. From the perspective of the overall U.S. stock market, these stock issuances are 'surprisingly easy to absorb,' so the liquidity withdrawal's drag on U.S. stock performance is expected to be short-term. Not only SpaceX, but companies like Anthropic, OpenAI, and Alphabet are also seeking to raise funds in the public market. Together with SpaceX, these four companies plan to raise about $380 billion, equivalent to about two months' issuance. However, IPOs themselves typically come with high volatility. A review by Truist Wealth of 30 large IPOs over the past 15 years shows that newly listed company stocks often decline and experience significant pullbacks in the year following their IPO, with a median drop of 9% and an average maximum drawdown of 54% in the first year. The SpaceX IPO may also trigger internal rotation within tech stocks, as investors might sell existing winners to fund new stock investments. This week, similar signs have emerged in the market, with investors shifting from high-flying chip stocks to defensive sectors like consumer staples. Additionally, changes in Nasdaq rules could amplify volatility. When SpaceX is included in the Nasdaq 100 index, it will not be weighted solely based on the $75 billion of tradable shares, but rather with a threefold multiplier, equivalent to a weight based on a $225 billion market cap. This means that the price fluctuations post-IPO could be magnified due to passive fund chasing. The participation of retail investors in the SpaceX IPO is unprecedented. Jay Woods, Chief Market Strategist at Freedom Capital Markets, expressed concern that this could lead to many negative experiences for investors, stating that SpaceX 'is not a lottery ticket,' but a long-term investment that requires time to realize its valuation.

[Analysis: SpaceX IPO Won't 'Break' Bull Market, but Investors Worry About Tech Stock Rotation and Upcoming AI Funding Wave]On June 11, CNBC reported that Wall Street generally believes the stock market can absorb the additional stock supply from the SpaceX IPO, but investors remain concerned about the volatility brought by more large AI-related IPOs and funding waves that may follow. According to Gavekal Research, approximately $1.7 trillion in stocks is expected to be issued by S&P 500 companies over the 12 months ending September 2025, averaging about $140 billion per month. The firm estimates that SpaceX's anticipated fundraising size of $75 billion is only slightly more than the shareholder dividend size for just over two weeks. From the perspective of the overall U.S. stock market, these stock issuances are 'surprisingly easy to absorb,' so the liquidity withdrawal's drag on U.S. stock performance is expected to be short-term. Not only SpaceX, but companies like Anthropic, OpenAI, and Alphabet are also seeking to raise funds in the public market. Together with SpaceX, these four companies plan to raise about $380 billion, equivalent to about two months' issuance. However, IPOs themselves typically come with high volatility. A review by Truist Wealth of 30 large IPOs over the past 15 years shows that newly listed company stocks often decline and experience significant pullbacks in the year following their IPO, with a median drop of 9% and an average maximum drawdown of 54% in the first year. The SpaceX IPO may also trigger internal rotation within tech stocks, as investors might sell existing winners to fund new stock investments. This week, similar signs have emerged in the market, with investors shifting from high-flying chip stocks to defensive sectors like consumer staples. Additionally, changes in Nasdaq rules could amplify volatility. When SpaceX is included in the Nasdaq 100 index, it will not be weighted solely based on the $75 billion of tradable shares, but rather with a threefold multiplier, equivalent to a weight based on a $225 billion market cap. This means that the price fluctuations post-IPO could be magnified due to passive fund chasing. The participation of retail investors in the SpaceX IPO is unprecedented. Jay Woods, Chief Market Strategist at Freedom Capital Markets, expressed concern that this could lead to many negative experiences for investors, stating that SpaceX 'is not a lottery ticket,' but a long-term investment that requires time to realize its valuation.

Analysis: SpaceX IPO Won't 'Break' Bull Market, but Investors Worry About Tech Stock Rotation and Upcoming AI Funding Wave

The Move to Earn APP STEPN released the latest economic model interpretation report, which publicly mentioned the destruction of 68 million GMT, worth about 800 million yuan, accounting for about 10% of the circulating supply. Considering the fixed supply of GMT, this is logically a good move for its future value.

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【STEPN destroys 68 million GMT, ​about 10% of the circulation】The Move to Earn APP STEPN released the latest economic model interpretation report, which publicly mentioned the destruction of 68 million GMT, worth about 800 million yuan, accounting for about 10% of the circulating supply. Considering the fixed supply of GMT, this is logically a good move for its future value.

STEPN destroys 68 million GMT, ​about 10% of the circulation

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STEPN destroys 68 million GMT, about 10% of the circulation

Застереження：Наведені вище матеріали не представляють позицію компанії HTX.，HTX не дає жодних торгових рекомендацій.。

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STEPN destroys 68 million GMT, ​about 10% of the circulation

Застереження：Наведені вище матеріали не представляють позицію компанії HTX.，HTX не дає жодних торгових рекомендацій.。

Схожі статті

Усі коментарі0НовіПопулярно

Популярні теми

Схожі статті

STEPN destroys 68 million GMT, about 10% of the circulation