Federal Reserve Governor Jefferson: No Need to Hurry to Further Cut Interest Rates, Strong Economy Makes Caution Appropriate

June 3 — Kalshi, a prediction market platform modeled after PredictIt, has officially launched cash-settled Bitcoin perpetual futures contracts. The contracts support 24/7 trading and utilize a funding rate mechanism pegged to Bitcoin’s spot price.

On June 3rd, Coinbob Popular Address Monitor (https://t.me/Coinbob_track_CN) reported that the largest BTC short position holder on Hyperliquid—an Ethereum address named "pension-usdt.eth"—has taken profits on its position: it closed a 1,400 BTC short worth ~$93.86 million, netting a $3.32 million profit. Immediately after, the trader opened a 3x leveraged short position on 50,000 ETH, valued at approximately $92.68 million, and currently holding an unrealized profit of ~$1.07 million. This trader now has 21 consecutive winning trades, with total profits exceeding $36 million. Notably, the initial BTC short was opened on April 1st and was not reduced at all over the period. Last night marked the first time this BTC trade flipped from a loss to profit, with an average entry price of ~$69,423; the position had previously topped $100 million in value. The trader's Ethereum address is: 0x0ddf9bae2af4b874b96d287a5ad42eb47138a902.

June 3rd — An official announcement from WLFI states that USD1 will be deployed on the MOVA Chain, with an initial scale of $1 billion. This move is not just a simple stablecoin issuance or liquidity access initiative; it’s a comprehensive, end-to-end strategy focused on stablecoin assets, institutional-grade settlement networks, and infrastructure tailored for the post-quantum security era. Within this framework, USD1 will function as the asset and liquidity layer connecting to the MOVA ecosystem, while MOVA will provide the institutional-grade, post-quantum on-chain settlement infrastructure. MOVA highlighted that as stablecoin use cases expand beyond trading liquidity to encompass payments, clearing, real-world asset (RWA) integration, cross-border settlements, and institutional finance, the next phase of stablecoin infrastructure competition won’t be determined solely by liquidity. Instead, it will rely far more on the underlying network’s security, compliance capabilities, scalab

June 3rd: Ray Dalio, founder of Bridgewater Associates, told Bloomberg TV in an interview today that the artificial intelligence (AI) bubble will eventually burst. Dalio has repeatedly noted in the past that the current AI frenzy is in the early stages of forming a bubble, displaying all the classic traits: sky-high valuations, rampant speculation, and paper wealth that far outpaces actual monetary value—parallel to the 2000 dot-com bubble. Even so, he stressed that a bubble popping would not erase AI’s long-term, revolutionary value. Most AI-linked companies may struggle to survive, but the underlying technology will continue to reshape the world. Dalio advised investors not to rush to exit their positions; instead, they should keep an eye out for potential bubble-bursting triggers like the Federal Reserve tightening monetary policy, and stay cautious while maintaining a diversified portfolio.

On June 3rd, edgeX released a post-incident report on the unusual price fluctuation of its EDGE token, tracing the flash crash to an attacker exploiting a low-liquidity trading window. The attack leveraged PancakeSwap’s thin on-chain liquidity of roughly $1.25 million, triggered high leverage in perpetual contracts, and sparked a cascading reaction across centralized exchanges (CEXs). During a one-minute window at 5:12 AM that same day, 174 addresses dumped approximately 159,000 EDGE tokens—with sell volume spiking about 10 times compared to prior minutes. This surge led to the liquidation of 68.2% of all long positions in edgeX’s perpetual contracts. Panic quickly spread to CEX spot markets, where trading volumes jumped to 7–10 times their usual daily levels, hitting around $70 million over two hours. The edgeX team confirmed its token allocation remains untouched and fully transparent on-chain, and has received preliminary analysis support from multiple CEXs. In follow-up actions,

June 3rd Update: Binance Wallet announces a scheduled maintenance upgrade will take place on June 4th from 15:00 to 16:00 (UTC+8). During this window, Predict Market services will be temporarily unavailable—user assets and open positions will remain entirely unaffected throughout the period.