US Stock Crypto Concept Stocks Experience Pre-Market Decline, CRCL Drops by 2.48%

On June 2, global asset management giant Franklin Templeton announced it will integrate its BENJI tokenized money market fund and other tokenized products into MoonPay’s on-chain trading platform, MoonPay Trade. Through this collaboration, institutional users will be able to leverage MoonPay’s recently launched on-chain trading infrastructure to seamlessly convert stablecoins such as USDC and USDT into Franklin Templeton’s tokenized money market fund, a move that’s set to boost efficiency in on-chain cash management and asset allocation. Both parties noted this partnership lays the groundwork for a broader strategic alliance between Franklin Templeton and MoonPay. For MoonPay, the deal marks an expansion of its business scope beyond cryptocurrencies, fiat, and stablecoins into the Real World Assets (RWA) space. This is also one of the first key strategic initiatives since Caroline Pham joined as CEO of MoonPay Institutional; Pham previously served as Acting Chairman of the U.S. C

June 2: On-chain analyst Ai Yi (@ai_9684xtpa) notes that a trader is currently going long on “Huang Renxun’s Selected Stocks” and shorting ETH, with an unrealized gain of $1.461 million. The trader holds a 3x leveraged long position worth $27.18 million across Nvidia (NVDA) and Marvell Technology (MRVL), posting an unrealized gain of $1.382 million. Additionally, they’ve opened a 3x leveraged short position on ETH valued at $4.944 million, with an average entry price of $2006.6, generating an unrealized gain of $0.072 million.

June 2, per Bitget’s market data, Nvidia (NVDA.O) climbed 2.6%, pushing its total market capitalization past $5.5 trillion.

June 2nd: Bitget market data indicates that shares of Hewlett Packard Enterprise (HPE) gapped up and surged by 25.77%, hitting a new all-time high, with the stock currently trading at $59.05 per share. As a leading provider of enterprise technology solutions, HPE offers a comprehensive suite of products and services covering servers, storage, and networking solutions. On June 1st, HPE released its Q2 FY2026 earnings report: revenue reached $10.7 billion, representing a 40% year-over-year increase; adjusted earnings per share came in at $0.79, both figures handily exceeding analyst consensus expectations. Furthermore, Morgan Stanley has raised HPE’s stock price target from $33 to $71.

On June 2, U.S. stocks opened lower, per Bitget market data: the Dow Jones Industrial Average dipped 0.4%, the S&P 500 slipped 0.18%, and the Nasdaq Composite declined 0.2%. In semiconductor early trading, gains were broad for several key players: NVIDIA (NVDA.O) rose 0.6% after confirming its Spectrum-X Ethernet Silicon Photonics Technology is now in full production. Marvell Technology Group (MRVL.O) surged 20% to a brand-new all-time high, with NVIDIA CEO Jensen Huang expressing optimism that Marvell will become the next trillion-dollar company. Broadcom (AVGO.O) added 5% as Morgan Stanley kept its Buy rating on the stock and lifted its price target. STMicroelectronics climbed 10% following an announcement that the chipmaker had raised its full-year revenue target for its data center business segment.

On June 2nd, Coinbase announced an investment in ProShares’ GENIUS Money Market ETF (ticker: IQMM), per an official statement. This fund is the first money market ETF built to comply with GENIUS Act requirements and act as a reserve asset for stablecoins—representing Coinbase’s latest expansion into stablecoin fund management and reserve infrastructure. As described, IQMM primarily invests in U.S. Treasuries with a remaining maturity of 93 days or less, cash, and cash equivalents. It’s structured to align with Section 4 of the GENIUS Act, which governs stablecoin reserve assets. The GENIUS Act mandates stablecoin issuers maintain 1:1 reserve backing with high-quality, highly liquid assets, setting a unified regulatory standard for the sector. Coinbase noted that as stablecoins grow in use for payments, settlements, and the broader digital economy, reserve management, liquidity management, and the infrastructure for stablecoin issuance and redemption have become more critical. The com