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On June 3, Federal Reserve Chairman Walsh delivered an inaugural address to over 20,000 employees as he began his four-year term, promising to adhere to the "excellent traditions of the Federal Reserve" while also indicating a comprehensive review of areas for improvement. This memorandum provides an initial insight into Walsh's direction: he aims to advance what he calls a comprehensive reform agenda, believing that the Federal Reserve has strayed from its mission; he is also working to mend relationships with colleagues and staff he has previously criticized. In the memo sent out on Tuesday, Walsh stated: "Our top priority is to formulate the right policies to fulfill our responsibilities and serve the national interest. We will ensure an environment that supports employees in realizing their best talents." "If better alternatives are found, we will not be bound by past practices," Walsh remarked, adding, "In the coming quarters, I look forward to engaging in open and pragmatic discussions about the Federal Reserve's strategies, policies, and operations." Additionally, according to a source familiar with the new chairman's initial personnel appointments, Walsh has appointed two conservative analysts to provide advice during his transition from former chairman and current governor Powell. These appointments are reportedly temporary contract positions aimed at assisting Walsh in planning his initial priorities after taking office. (Sina Finance)

[Walsh Commits to Upholding Federal Reserve Traditions While Seeking Change]On June 3, Federal Reserve Chairman Walsh delivered an inaugural address to over 20,000 employees as he began his four-year term, promising to adhere to the "excellent traditions of the Federal Reserve" while also indicating a comprehensive review of areas for improvement. This memorandum provides an initial insight into Walsh's direction: he aims to advance what he calls a comprehensive reform agenda, believing that the Federal Reserve has strayed from its mission; he is also working to mend relationships with colleagues and staff he has previously criticized. In the memo sent out on Tuesday, Walsh stated: "Our top priority is to formulate the right policies to fulfill our responsibilities and serve the national interest. We will ensure an environment that supports employees in realizing their best talents." "If better alternatives are found, we will not be bound by past practices," Walsh remarked, adding, "In the coming quarters, I look forward to engaging in open and pragmatic discussions about the Federal Reserve's strategies, policies, and operations." Additionally, according to a source familiar with the new chairman's initial personnel appointments, Walsh has appointed two conservative analysts to provide advice during his transition from former chairman and current governor Powell. These appointments are reportedly temporary contract positions aimed at assisting Walsh in planning his initial priorities after taking office. (Sina Finance)

Walsh Commits to Upholding Federal Reserve Traditions While Seeking Change

On June 3, according to data from The Block, the total trading volume of futures on major cryptocurrency exchanges in May was approximately $2.9 trillion, marking a 12-month low and returning to levels seen at the end of 2023, significantly lower than the peak periods of $6 to $7 trillion last year. Trading activity remains highly concentrated on a few platforms. Meanwhile, the CFTC has officially opened the door for the launch of cryptocurrency perpetual contracts in the U.S. market. Perpetual contracts, which have no expiration date and anchor spot prices through funding rates, have become mainstream trading tools in global cryptocurrency derivatives. Analysts point out that the compliant domestic perpetual market in the U.S. is expected to attract institutional participation, but whether trading volume can recover will depend on its competitiveness with offshore exchanges.

[Cryptocurrency Derivatives Trading Volume Hits New Low Since End of 2023]On June 3, according to data from The Block, the total trading volume of futures on major cryptocurrency exchanges in May was approximately $2.9 trillion, marking a 12-month low and returning to levels seen at the end of 2023, significantly lower than the peak periods of $6 to $7 trillion last year. Trading activity remains highly concentrated on a few platforms. Meanwhile, the CFTC has officially opened the door for the launch of cryptocurrency perpetual contracts in the U.S. market. Perpetual contracts, which have no expiration date and anchor spot prices through funding rates, have become mainstream trading tools in global cryptocurrency derivatives. Analysts point out that the compliant domestic perpetual market in the U.S. is expected to attract institutional participation, but whether trading volume can recover will depend on its competitiveness with offshore exchanges.

Cryptocurrency Derivatives Trading Volume Hits New Low Since End of 2023

On June 3, U.S. Secretary of State Rubio stated on the 2nd that Israeli Prime Minister Netanyahu's proposal for the Israeli military to control 70% of the Gaza Strip is inconsistent with the U.S. position. During a hearing held by the House Appropriations Committee in Congress that afternoon, Rubio responded to questions from lawmakers, saying that Netanyahu's plan is not part of President Trump's '20-point plan' for ending the Gaza conflict. According to the '20-point plan', Israel does not need to take such actions. Under the first phase of the Gaza ceasefire agreement effective from October 2025, Israel controls 53% of the Gaza Strip.

[Rubio: Israel's Plan to Control 70% of Gaza Conflicts with U.S. Position]On June 3, U.S. Secretary of State Rubio stated on the 2nd that Israeli Prime Minister Netanyahu's proposal for the Israeli military to control 70% of the Gaza Strip is inconsistent with the U.S. position. During a hearing held by the House Appropriations Committee in Congress that afternoon, Rubio responded to questions from lawmakers, saying that Netanyahu's plan is not part of President Trump's '20-point plan' for ending the Gaza conflict. According to the '20-point plan', Israel does not need to take such actions. Under the first phase of the Gaza ceasefire agreement effective from October 2025, Israel controls 53% of the Gaza Strip.

Rubio: Israel's Plan to Control 70% of Gaza Conflicts with U.S. Position

On June 3, WTI crude oil's intraday increase expanded to 2.00%, currently reported at $97.21 per barrel. This follows reports of explosions in several Middle Eastern countries. (Jinshi)

[WTI Crude Oil Increases by 2.00% to $97.21 per Barrel]On June 3, WTI crude oil's intraday increase expanded to 2.00%, currently reported at $97.21 per barrel. This follows reports of explosions in several Middle Eastern countries. (Jinshi)

WTI Crude Oil Increases by 2.00% to $97.21 per Barrel

On June 3, according to data compiled by institutions, Alphabet (GOOG.O) has initiated an $80 billion equity financing to raise funds for artificial intelligence infrastructure development, which is expected to become the largest equity capital market transaction in history. The jointly issued stocks (including common stock, capital stock, and similar equity mandatory convertible preferred stock) will be priced later on Tuesday. Its scale will surpass the approximately $70 billion issuance of common and preferred stock by Petrobras in 2010. The largest single transaction in this deal for Google's parent company—a $40 billion 'at-the-market' issuance plan—is expected to launch in the third quarter. Such issuances allow the company to sell shares to the market from time to time without announcement, but it must regularly disclose the raised amount in regulatory filings.

[Alphabet's $80 Billion Equity Financing May Set Fundraising Record]On June 3, according to data compiled by institutions, Alphabet (GOOG.O) has initiated an $80 billion equity financing to raise funds for artificial intelligence infrastructure development, which is expected to become the largest equity capital market transaction in history. The jointly issued stocks (including common stock, capital stock, and similar equity mandatory convertible preferred stock) will be priced later on Tuesday. Its scale will surpass the approximately $70 billion issuance of common and preferred stock by Petrobras in 2010. The largest single transaction in this deal for Google's parent company—a $40 billion 'at-the-market' issuance plan—is expected to launch in the third quarter. Such issuances allow the company to sell shares to the market from time to time without announcement, but it must regularly disclose the raised amount in regulatory filings.

Alphabet's $80 Billion Equity Financing May Set Fundraising Record

On June 3, Xinhua News Agency reported that U.S. Secretary of State Rubio stated during a hearing at the Senate Foreign Relations Committee on June 2 that the U.S. is still negotiating with Iran, but he is uncertain when an agreement will be reached. This was Rubio's first testimony in Congress since the U.S. and Israel launched a large-scale military operation against Iran at the end of February. In response to questions from lawmakers about the progress of U.S.-Iran negotiations, he said, "We are negotiating with Iran," and that Iran "has agreed to negotiate on some aspects of its nuclear program, whereas just a month ago, or even a year ago, they were unwilling to talk at all." Rubio mentioned that an agreement with Iran "could be reached today, tomorrow, or next week," but this "does not guarantee that a deal acceptable to Congress will ultimately be reached." He also stated that the U.S. has not proposed lifting sanctions on Iran or allowing it to access frozen funds as a condition for reopening the Strait of Hormuz. "This has never been discussed or proposed. Any easing of sanctions must be conditional. This means that the prerequisites must address the issues that led to the imposition of these sanctions in the first place, namely Iran's nuclear program."

[U.S. Secretary of State: Talks Between U.S. and Iran Ongoing, Uncertainty Over Agreement Timeline]On June 3, Xinhua News Agency reported that U.S. Secretary of State Rubio stated during a hearing at the Senate Foreign Relations Committee on June 2 that the U.S. is still negotiating with Iran, but he is uncertain when an agreement will be reached. This was Rubio's first testimony in Congress since the U.S. and Israel launched a large-scale military operation against Iran at the end of February. In response to questions from lawmakers about the progress of U.S.-Iran negotiations, he said, "We are negotiating with Iran," and that Iran "has agreed to negotiate on some aspects of its nuclear program, whereas just a month ago, or even a year ago, they were unwilling to talk at all." Rubio mentioned that an agreement with Iran "could be reached today, tomorrow, or next week," but this "does not guarantee that a deal acceptable to Congress will ultimately be reached." He also stated that the U.S. has not proposed lifting sanctions on Iran or allowing it to access frozen funds as a condition for reopening the Strait of Hormuz. "This has never been discussed or proposed. Any easing of sanctions must be conditional. This means that the prerequisites must address the issues that led to the imposition of these sanctions in the first place, namely Iran's nuclear program."

U.S. Secretary of State: Talks Between U.S. and Iran Ongoing, Uncertainty Over Agreement Timeline

On June 3, according to a statement reported by Iranian opposition media 'Iran International TV', the Iranian Revolutionary Guard announced on Tuesday that in response to the U.S. attack on Iran's Qeshm Island, they have carried out 'precise and concentrated missile strikes' on the U.S. military base located in Kuwait. The statement noted: 'Any new foolish act, any further aggression, or any action that even slightly touches upon our borders and sovereignty will be met with a thunderous, devastating, and decisive counterattack—this response will transcend conventional rules and boundaries; the Iranian armed forces will not hesitate to turn the bases and interests of all aggressors in the region to ashes.' The statement also emphasized: 'The era of 'hit and run' is over; those oppressive forces must bear serious consequences for their own ignorance and reckless adventurism.' (Jinshi)

[U.S. Strikes Iran's Qeshm Island, Iran Retaliates Against U.S. Base in Kuwait]On June 3, according to a statement reported by Iranian opposition media 'Iran International TV', the Iranian Revolutionary Guard announced on Tuesday that in response to the U.S. attack on Iran's Qeshm Island, they have carried out 'precise and concentrated missile strikes' on the U.S. military base located in Kuwait. The statement noted: 'Any new foolish act, any further aggression, or any action that even slightly touches upon our borders and sovereignty will be met with a thunderous, devastating, and decisive counterattack—this response will transcend conventional rules and boundaries; the Iranian armed forces will not hesitate to turn the bases and interests of all aggressors in the region to ashes.' The statement also emphasized: 'The era of 'hit and run' is over; those oppressive forces must bear serious consequences for their own ignorance and reckless adventurism.' (Jinshi)

U.S. Strikes Iran's Qeshm Island, Iran Retaliates Against U.S. Base in Kuwait

On June 3, Bloomberg reported that a shell company associated with Elon Musk has recently purchased property in a rural area near Houston, Texas, indicating a potential site for the planned $55 billion chip factory, Terafab. The Terafab project is jointly promoted by SpaceX, Tesla, and xAI, aiming to provide chip support for artificial intelligence and robotics projects, with total investments potentially reaching up to $119 billion. Land registration records show that the company, named 'WIT Tech LLC', has acquired at least six parcels of land in Grimes County, totaling over 6,000 acres (equivalent to nearly 10 square miles), although the transaction amount has not been disclosed. Click the link below to join the Beating · Feishu AI news channel for 24/7 monitoring of global AI hotspots and news.

[Elon Musk-Linked Shell Company Acquires Land Near Houston for Potential Chip Factory]On June 3, Bloomberg reported that a shell company associated with Elon Musk has recently purchased property in a rural area near Houston, Texas, indicating a potential site for the planned $55 billion chip factory, Terafab. The Terafab project is jointly promoted by SpaceX, Tesla, and xAI, aiming to provide chip support for artificial intelligence and robotics projects, with total investments potentially reaching up to $119 billion. Land registration records show that the company, named 'WIT Tech LLC', has acquired at least six parcels of land in Grimes County, totaling over 6,000 acres (equivalent to nearly 10 square miles), although the transaction amount has not been disclosed. Click the link below to join the Beating · Feishu AI news channel for 24/7 monitoring of global AI hotspots and news.

Elon Musk-Linked Shell Company Acquires Land Near Houston for Potential Chip Factory

On June 3, according to the Islamic Republic of Iran Broadcasting (IRIB), Iran's attack targets included the Ali Al-Salem Air Base and Camp Arifjan, both located in Kuwait.

[Iran Attacks US Military Base in Kuwait]On June 3, according to the Islamic Republic of Iran Broadcasting (IRIB), Iran's attack targets included the Ali Al-Salem Air Base and Camp Arifjan, both located in Kuwait.

Iran Attacks US Military Base in Kuwait

On June 2, Google stated that the demand for AI solutions from businesses and consumers is strong, and the level of AI demand has exceeded the company's current supply capacity.

[Google: AI Demand Exceeds Current Supply Capacity]On June 2, Google stated that the demand for AI solutions from businesses and consumers is strong, and the level of AI demand has exceeded the company's current supply capacity.

Google: AI Demand Exceeds Current Supply Capacity

From a Lunch Table to an Infinite Universe: Fei-Fei Li Bets on AI's Next Dimension

2-Year Return of 225x? Uncovering Mysterious Researcher Serenity's AI 'Choke Point' Investment Strategy

Retail Investors' 'Lead Brother' Serenity vs. Newly Minted Stock God Leopold: How Are the Two Top Hunters Mining AI's 'Physical Limits'?

VVV Surges Over 10x This Year, Is the Base Ecosystem the Last Hope for Crypto AI?

Bitcoin Correction Pushes 580,000 BTC Into Loss Territory

One Article Deconstructs the Investment Methodology of 'Stock God Serenity'

Deconstructing the Investment Methodology of the 'Stock God Serenity' in One Article

Sharplink CEO: Ethereum's Future Is Playing Out Now

Kalshi and Coinbase Receive CFTC Approval, Ushering in the Most Regulation-Friendly Era for the Crypto Industry?

Weekly Token Unlocks: HYPE Unlocks $650M Worth of Tokens

Article

ETH drops below 2000 USDT

Google: AI Demand Exceeds Current Supply Capacity

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